Kaiser Aluminum (KALU) broke out to a new high Friday morning in what seemed like a solid gain, but by the end of the day, the stock had fluttered back to Earth.
It finished at 87.92 with a loss of 0.08, below a 88.50 buy point. The company reported earnings after the close Wednesday. Adjusted earnings easily beat estimates of $1.27 a share with a reading of $1.51, but sales missed, coming in at $343.2 million vs. estimates of $347.33 million. Kaiser maintained a three-year outlook.