<< Read Full Article
Aluminum producer Alcoa (AA Quote) said Monday that it lost more than $1 billion in the fourth quarter as declining metal prices, weakening demand and restructuring charges clipped its results.
The company had a loss from continuing operations for the quarter of $929 million, or $1.16 a share, which includes charges of $708 million, or 88 cents a share.
Results were driven by a 35% drop in aluminum prices and a steep decrease in demand, particularly from the automotive, commercial transportation and building and construction sectors, Alcoa said.
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
|
|
DOWN
154.48
|
DOWN
19.14
|
DOWN
37.61
|
DOWN
0.48
|
10 Yr
3.23%
SPDR Gold
115.06
|
|
-1.48%
|
-1.72%
|
-1.73%
|
-1.46%
|
Data delayed 20 minutes |
Connect with TheStreet