ADVFN - Advanced Financial Network.
HOME» NYSE » A » AA Stock Price » AA Stock News

Alcoa Share News

 Alcoa, Inc. Stock Price
AA Stock Price
 Alcoa, Inc. Stock Chart
AA Stock Chart
 Alcoa, Inc. Stock News
AA Stock News
 Alcoa, Inc. Company Information
AA Company Information
 Alcoa, Inc. Stock Trades
AA Stock Trades

Alcoa Swings to 2Q Loss as Aluminum Prices Fall

By Nathalie Tadena Alcoa Inc. (AA) swung to a second-quarter loss as aluminum prices continued to decline and as special items weighed on the aluminum giant's bottom-line results. In the latest period, Alcoa's average realized price for aluminum fell 18% from a year earlier and was down 4.3% from the prior quarter. Shipments of aluminum products increased 2.9%. "Alcoa maintained revenue strength and solid liquidity by driving high profitability in our mid and downstream businesses and by reducing costs and improving performance in our upstream businesses," said Chairman and Chief Executive Klaus Kleinfeld. The company's results have been hurt in recent periods by a decline in aluminum prices--a result of weak demand in Europe, global uncertainties and excessive production--and higher raw-material costs. Alcoa has said it would contend with sluggish aluminum prices by cutting costs, limiting production and relying more on high-margin end products less vulnerable to slumping metal prices, such as bolts and wheels for cars and airplanes. In the latest period, total costs and expenses slipped 1.6%. During the quarter, Alcoa proposed to settle a civil suit by offering a cash payment of $45 million. It estimates an additional possible charge of up to $75 million to settle the suit. Alcoa, an industrial bellwether that unofficially kicks off the U.S. earnings season, posted a loss of $2 million, or less than a penny a share, compared with a year-earlier profit of $322 million, or 28 cents a share. Excluding restructuring charges and other special items, earnings from continuing operations in the latest period were 6 cents a share, down from 32 cents. Revenue slid 9.4% to $5.96 billion. Analysts surveyed by Thomson Reuters predicted a per-share profit of 5 cents and revenue of $5.81 billion. Shares were up four cents at $8.80 after hours. Through the close, the stock has fallen 47% over the past 12 months. Write to Nathalie Tadena at nathalie.tadena@dowjones.com

Stock News for Alcoa (AA)
DateTimeHeadline
07/14/201418:23:21U.S. Hot Stocks: Hot Stocks to Watch
07/09/201416:22:36MARKET SNAPSHOT: U.S. Stocks Close Higher Following Fed Minutes
07/09/201415:08:12MARKET SNAPSHOT: U.S. Stocks Rise After Fed Minutes
07/09/201410:56:29MARKET SNAPSHOT: U.S. Stocks Edge Higher; FOMC Minutes On Tap
07/09/201409:53:20MARKET SNAPSHOT: U.S. Stocks Open Higher; FOMC Minutes On Tap
07/08/201416:36:29MARKET SNAPSHOT: U.S. Stocks Fall; Momentum Plays Hit Hard
07/08/201416:21:20MARKET SNAPSHOT: U.S. Stock-market Losses Led By Momentum Plays
07/08/201416:10:08MARKET SNAPSHOT: Stocks Slip As Dow Loses Hold On 17,000
07/08/201416:07:25MARKET SNAPSHOT: Stock Futures: Dow's Hold On 17,000 Looks Shaky
07/07/201417:15:59MARKET SNAPSHOT: U.S. Stocks End Lower; Biotechs, Internet Stock...
07/07/201412:18:59MARKET SNAPSHOT: U.S. Stock Market Losses Led By Small Companies
07/07/201410:09:46MARKET SNAPSHOT: U.S. Stocks Retreat From Record Levels
07/07/201407:10:50MARKET SNAPSHOT: U.S. Stocks: Futures Down; ADM In $3 Billion...
07/07/201406:05:54MARKET SNAPSHOT: U.S. Stocks: Futures Slip; ADM In $3 Billion...
07/06/201406:18:12MARKET SNAPSHOT: Stock Valuations Riding On Stellar Earnings...
06/26/201416:59:21MARKET SNAPSHOT: U.S Stocks Trim Losses After Late-day Rally
05/23/201419:56:29U.S. to Revenue Up Hacking Fight
05/20/201422:02:19Companies Bet Exposing Hacks Will Help
05/19/201420:07:14Pittsburgh-Area Firms Allegedly Targeted by Hacking
05/16/201415:50:35Alcoa, USW Reach New Labor Deal -- Update

Alcoa and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad