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Overseas markets also mostly fell, reacting to China tightening its monetary policy and boosting bank reserve requirements, in addition to the worse-than-expected results from the world’s biggest aluminum producer.
As one of the first companies in the Standard & Poor’s 500 index to report quarterly results, Alcoa’s earnings are often seen as a barometer for how companies will fare.
After the market closed Monday, Alcoa said it earned a penny a share excluding one-time items and special charges. Analysts polled by Thomson Reuters, on average, forecast earnings of 6 cents per share.
LAS VEGAS–(BUSINESS WIRE)–Budget Center Inc. (OTC: BDGN) (the “Company) is pleased to announce that the Company’s owned travel website www.budgethotels.com has signed a formal “white paper affiliate” agreement with Hotels Combined Pty Ltd. of Sydney, Australia.
IRVINE, Calif., Jan. 12, 2010 (GLOBE NEWSWIRE) — According to several recent reports, the current economic downturn is creating a lasting return to online travel sites focused on budget-conscious consumers looking for bargains.
Although overall travel spending contracted with the economy in 2009, a report by Forrester Research indicates that travel spending is expected to rebound starting in 2010 and continue upward through 2013. And online travel may lead the way. Online leisure and business travel spending is expected to increase from 2008 levels of $111 billion to $158 billion by 2013.
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Bob Chalmers, Budget President and CEO, discussed with SmallCapVoice.com on how Budget Center Inc. (OTCPK: BDGN) has commenced the development of its “budget” category domain network in the online travel and related industries. This program will include the development of the following highly relevant and valuable “budget” brand domains: budgetairlines.com, budgethotels.com, budgetresorts.com, budgetravel.com, budgetskiing.com, budgetadventures.com, budgetentertainment.com, and budgetcharters.com. Budget Center is dedicated to delivering great value to its clients and customers. Through its websites, the Company will strive to offer a range of the best possible travel options for every budget. When shopping at any of the Company-owned websites, visitors will receive great value and service always at budget prices. The Company will continually strive to meet its customers’ needs through ongoing market research, partnerships, and quality offerings at the best savings available.
Stocks are fluctuating above the line as investors await the start of earnings season
Stocks zigzagged early Monday as investors awaited earnings from Alcoa Inc. for more signs that the global economy is healing.
Alcoa’s report will give investors one of the first looks at how companies fared in the final quarter of 2009.
Investors also looked to a report that Chinese exports jumped by nearly 18 percent in December. The bigger-than-expected increase follows 13 straight months of declines. The increase in exports has added confidence to investors who believe a global economic rebound is well under way.
Investors are buying into the market ahead of the start of earnings season. Alcoa kicks off the flood of reports that will provide insight into how fast the economy is recovering. Economists polled by Thomson Reuters predict Alcoa earned 6 cents per share in the fourth quarter.