Traders are hoping the Deutsche Bank downgrade of Alcoa this morning isn't an indication of broader earnings season headwinds. As mentioned earlier, Deutsche Bank lowered its rating on the aluminum maker due to concerns that declining sheet sales and higher energy prices could be impediments to a strong Q1 earnings report. Consequently, it also slashed Alcoa's full-year earnings outlook by 38 percent to $0.64 (also partly due to one-time EU fines) and cut its price target from $25 to $18.