XLI Industrial Select Sector

Allegheny Technologies (ATI) reported net income for the first quarter 2013 slumping 82% to $10.0 million, or $0.09 per share, on sales of $1.18 billion.

For this diversified maker of specialty metals products from stainless steel to titanium and superalloys, that was quite a drop compared with net income of $56.2 million, or $0.50 per share, on sales of $1.35 billion for Q1 last year.

But the Zacks Rank has been on top of this decline since the summer of 2011 when the stock was at $65. To be specific, ATI has spent most of its time as a Zacks #4 Rank (Sell) or #5 Rank (Strong Sell) in the past 22 months as it fell to back to 52-week lows this week near $26.

The Price & Consensus Chart, which plots annual earnings estimates against the stock price, says it all...