(Alcoa earnings item updated from April 11.)
NEW YORK (TheStreet) -- Alcoa (AA) reported first-quarter earnings Monday that squeaked past Wall Street expectations by a penny, but a miss on the company's top line weighed on the company's stock in Tuesday's regular session.
After the bell Monday, Alcoa said its revenue in the first quarter came to $6 billion, up from $4.9 billion a year earlier but lower than the $6.3 billion that Wall Street analysts were targeting.
Investors chose to punish the Pittsburgh aluminum giant, sending its shares down 6.5% in midday trading Tuesday. Volume reached nearly 50 million shares, compared with average daily turnover of about 28 million.
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