Alcoa third-quarter results miss expectations, stock sinks

Alcoa third-quarter results miss expectations, stock sinks
 

Metals company Alcoa Inc (AA.N) on Tuesday reported higher quarterly profit due to cost-cutting and lower tax provisions, but the results missed expectations and sent its stock sank nearly 10 percent.
The rise in profit at Alcoa came despite lower revenue as it curtailed or closed some traditional smelting operations and confronted falling prices. Revenues fell in its so-called value-added business serving the automotive and aerospace industries, which Alcoa said was due partly to delayed aircraft deliveries and pricing pressure.
"We are performing well despite the low pricing... read more

 
11 October 2016 in Business, Views: 55
Source: Reuters
Share:
  •  





    News Widget for Webmasters



    Bring Eugene's son back home immediately

    Realtime News

     

    «
    »
    Mo Tu We Th Fr Sa Su
          1 2 3 4
    5 6 7 8 9 10 11
    12 13 14 15 16 17 18
    19 20 21 22 23 24 25
    26 27 28 29 30 31