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(CHARTPOPPERS.COM, April 13, 2011 ) Vancouver, BC – Material sector companies where pulled lower on tuesday after Alcoa reported weaker than expected earnings for the previous fiscal period. Alcoa (NYSE:AA) had announced a first quarter net income of $308 million, or 27 cents per share, up from a net loss of $201 million or 20 cents per share that the company reported during the same period last year. The company attributed the first quarter profit to stronger sales at higher prices but results could have been better if the dollar had not been so weak or costs for raw materials so high. Sales where at $5.96 billion from $4.9 billion a year ago. UBS then went on to raise there price target for the materials giant to $19.50 a share compared to $18 a share that the had previously estimated. But the missed estimates for the first quarter put a negative cloud over the sector and pulled Cliff’s Natural Resources ((NYSE:CLF)NYSE:CLF)and Freeport McMoran Copper & Gold (NYSE:FCX) over 3 percent lower on tuesday….
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