Dow Lifesavers: Alcoa Today, Could GE Play the Role Tomorrow?

Alcoa Inc. (AA) was the largest percentage gainer in the Dow 30 today up 9.7% after better than expected earnings in a day that could have easily gone bad. Notable losers in the Dow included GM, down about 6.2% and AIG which fell 8.2%. Across the board there was plenty of weakness in financials (the likes of Fannie, Freddie and Lehman) and with price of crude oil up about $5 things could have been a lot worse today. Could General Electric Co. (GE) play Alcoa’s role tomorrow and be a Dow lifesaver? The conglomerate reports tomorrow and both market watchers and the company’s shareholders are anxiously anticipating the earnings results and guidance, especially after last quarter’s disappointment.