Cameco Corporation (NYSE: CCJ) and Alcoa Inc. (NYSE: AA) turn red, despite good earnings

Cameco Corporation loses footing

In brief: Cameco Corporation (NYSE: CCJ) quarterly profit exceeded forecasts. Alcoa Inc. (NYSE: AA) shares lost around 0.5% today.

Cameco Corporation (NYSE: CCJ) is reduced in price to 24.78, giving the bears -0.29 (-1.16%). Alcoa Inc. (NYSE: AA) lost 0.54% in the second half of the trading session today. Reasons shares fall remains a mystery.

The second-largest uranium producer Cameco Corporation (NYSE: CCJ) reported on the profit for the second quarter that exceeded analysts’ forecasts, due to a fall in sales of uranium below expectations. Thus, net profit decreased from C $ 247 million, or 63 cents a share to C $ 68 million ($ 65.3 million), or 17 cents per share. Profit excluding certain items was 29 cents per share on average forecast of analysts at 24 cents per share. Sales for the period fell by 15% to C $ 546 million.

Igor Tringlers
2010-08-13 17:12, Economics.

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