(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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV