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
07/26/201519:10:14Companies to Pledge $140 Billion in Effort to Cut Carbon Emissions
07/24/201516:05:00RTI International Metals, a Subsidiary of Alcoa Inc., Announces...
07/23/201517:30:15Post-effective Amendment to an S-8 Filing (s-8 Pos)
07/23/201517:27:14Securities Registration: Employee Benefit Plan (s-8)
07/23/201517:25:28Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
07/23/201517:23:39Current Report Filing (8-k)
07/23/201517:22:42Current Report Filing (8-k)
07/23/201509:02:00Alcoa Realigns Downstream Portfolio to Drive Greater Profitability...
07/23/201509:01:00Alcoa Completes Acquisition of RTI International Metals, Growing...
07/22/201517:21:51Quarterly Report (10-q)
07/21/201517:52:00RTI International Metals Shareholders Voted in Favor of Acquisition...
07/21/201516:27:00Alcoa Board Approves Quarterly Dividends
07/17/201516:11:033 Stocks to Watch in Metals and Mining
07/15/201518:16:03What Alcoa's Management Said About the Industrial Sector
07/14/201517:45:00PayPal Holdings Set to Join S&P 100 & 500; Others to Join S&P...
07/14/201517:15:00Indices S&P Dow Jones annonce des modifications à certains indices...
07/14/201517:15:00S&P Dow Jones Indices Announces Changes to the S&P/TSX Canadian...
07/13/201517:10:40Current Report Filing (8-k)
07/13/201516:14:02Alcoa's 3 Biggest Growth Opportunities
07/09/201520:13:08Why Alcoa's Management Sees Better Times Ahead

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