- Retail Sales Show Gain, But Manufacturing Gauge Slips
- Intel Plans to Increase Dividend 12.75%; Shares Gain
- Several Credit Card Companies See Default Rate Fall
- Signs of Stability, but 'We're Not All Satisfied': GM CEO
- Weak US Housing Market Drags on Lowe's Profit
- Cisco Ups Tandberg Bid, Claims Over 40% Backing
- Stronger Yuan Needed for Global Rebalancing: IMF Chief
- Small US Cities Lose Luster in Downturn
- How Much Do You Know About Green?
- GM Cuts Losses—Plans Early Loan Repayment
- Schork Oil Outlook: Still Bearish Crude, But Skeptical
- Michelle Wie Wins, Now What?
- Taking a Page from Obama's Asia Agenda in Investing
- Warren Buffett to CNBC: 'I Haven't Bought American Express In Years'
- CNBC Video: Warren Buffett & Bill Gates - Keeping American Great
- U.S. Stocks Rally for the Second Straight Week
- Dollar is Not Plunging—So 'Calm Down': Market Strategist
- Strategists Say Markets Have More Upside — But How Much?
MOST SHARED
- CNBC Video: Warren Buffett & Bill Gates - Keeping American Great
- BlackRock: Central Banks To Be Net Buyers of Gold
- Weak US Housing Market Drags on Lowe's Profit
- Signs of Stability, but 'We're Not All Satisfied': GM CEO
- Devon to Sell its Gulf, International Assets
- EADS Cautious on Full-Year Forecast after Earnings Dip
- Taking a Page from Obama's Asia Agenda in Investing
Text Size 
Alcoa shares rose about 4 percent in extended trading Tuesday as the company turned in a profit and sales that were lower than last year but still managed to beat expectations.
 |
AP |
Analysts expected Alcoa to earn 64 cents a share on sales of $7.358 billion, according to a consensus estimate from Thomson Reuters.
Shares of Alcoa [AA
Loading...
()
] were roughly 4 percent higher in electronic trading after closing 3.17 percent lower at $32.33 Tuesday.
"They're not hitting the cover off the ball, but it's an in-line quarter, maybe a little bit better than some people expected,'' said Mark Liinamaa, a metals and mining analyst at Morgan Stanley.
"They're dealing with the cost of high inputs like everyone is. But aluminum prices are looking pretty good,'' he said.
The results include a charge of $39 million, or 5 cents per share, stemming from a "force majeure" caused by a gas supply disruption in Australia and the idling of Alcoa's Rockdale, Texas, smelter because of local power supply problems.
"Global supply and demand is essentially balanced, (and) even though North America and Europe are experiencing significant weakness in specific in markets, global consumption remains robust,'' Chief Financial Officer Chuck McLane told a conference call.
Production of alumina, or unfinished aluminum, slipped about 1 percent during the quarter, although aluminum output rose 3.5 percent to 1.03 million tons.
The company's prices for aluminum sold jumped to $3,058 per ton from $2,879 a year earlier.
- Wire services contributed to this report.
Print
Email
- Where, what, how.
- Warren Buffett and Bill Gates spoke to Columbia students, and Buffett made the students a startling offer.
- For the chief of cable company Comcast, growth has been about making deals – generally very large deals.
- Some companies may start using insurance to shift carbon risk from their balance sheets to maybe... yours?
- The president and founder of Genesis Today wants to improve America’s health, and thinks Wal-Mart can help.
- If a terrible driver on your morning commute has you feeling like you want to scream, check this out.
Data is a real-time snapshot *Data is delayed at least 15 minutes