Alcoa Inc. (AA) a Bright Spot in Dow’s Horizontal Day

Though the Dow Jones Industrial Average fell slightly for a second straight day, several catalysts prevented the index from a more dramatic drop, including encouraging jobs data, and one big announcement from one of the world’s most famous and successful investors. The Dow ended down nine points, or less than 0.1%, to close at 13,973.

The Coca-Cola Company (NYSE:KO) didn’t offer much help to the blue chips, losing 1%, to go down as the worst performer in the 30-stock index Thursday. Investors may have been dismayed with the fact that PepsiCo, Inc. (NYSE:PEP), Coke’s sworn enemy, reported quarterly earnings and revenue that exceeded expectations. It doesn’t look good for Pepsi to be thriving just after Coke investors sold off the stock to the tune of nearly 3% Tuesday after its own unimpressive results.

Aluminum producer Alcoa Inc. (NYSE:AA) , on the other hand, helped minimize the Dow’s losses, as shares added 2.1%. Trading lower than it did one-, three-, and five-years ago, the market recognized some of Alcoa Inc. (AA)’s hidden potential today, taking a cue from — of all places — China. A government-owned Chinese enterprise took a material stake in an Australian company called Alumina; Alumina happens to be a major co-investor in a venture with Alcoa.

More big news in the marketplace came today when H.J. Heinz Company (NYSE:HNZ) rocketed nearly 20% higher on reports that famed investor Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A) will team with a private investor group to buy out the condiment conglomerate in a $28 billion transaction. Buffett is also a major holder of Coca-Cola stock.

Lastly, today brought bad vibes for telecom companies, as a patent trolling — I mean, holding company, Intellectual Ventures, filed a patent infringement suit against a handful of major providers. Windstream Corporation (NASDAQ:WIN) caught the brunt of the selling assault, plummeting 7.4%. The stock’s 27% decline in the last year has driven Windstream’s dividend above 10%. Investors will get a better idea of how sustainable that payout is on Tuesday, when the company releases its quarterly results.

The article Alcoa a Bright Spot in Dow’s Horizontal Day originally appeared on Fool.com and is written by John Divine.

Fool contributor John Divine has no position in any stocks mentioned. You can follow him on Twitter @divinebizkid and on Motley Fool CAPS @TMFDivine.The Motley Fool recommends Berkshire Hathaway, Coca-Cola, H.J. Heinz Company, and PepsiCo. The Motley Fool owns shares of Berkshire Hathaway and PepsiCo.

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