sank late Monday after the can maker matched second-quarter profit targets but came up light on sales.
The Pittsburgh-based aluminum company made $715 million, or 81 cents a share, for the quarter ended June 30, down from the year-ago $744 million, or 85 cents a share. Sales rose to $8.07 billion from $7.8 billion a year earlier.
Analysts surveyed by Thomson Financial were looking for an 81-cent profit on sales of $8.34 billion.
The company also extended to Aug. 10 its cash-and-stock offer for rival
, which has rejected the $28 billion hostile proposal as undervaluing the Canadian aluminum smelter. Alcoa left the terms unchanged, a decision that isn't likely to entice Alcan shareholders who have been ignoring the take-under bid.
Alcoa slipped 29 cents to $42.07 late Monday.