Alcoareported another quarterly loss Wednesday as aluminum demand remained weak and the price of the metal was depressed, but the shortfall was narrower than analysts expected. The company's sales exceeded forecasts as well.
Shares of the aluminum giant jumped in extended trading Wednesday.
"At first glance it looks constructive," said Brian Hicks, co-manager of U.S. Global Investors' natural resources fund. "They were able to do better than expected from cost savings. Year-over-year production is down, and down sequentially as well, but it looks like they were able to contain costs."