Shares of Alcoa (NYSE:AA) are lower on Wednesday after the company reported a loss for the third quarter and lowered its 2012 aluminum demand forecast. The company lost $143 million, or 13 cents per share, mostly due to one time charges. Adjusted earnings of 3 cents per share beat estimates, and revenue fell to $5.83 billion from $6.42 billion, beating estimates. Previously, the company reported that demand for aluminum would increase by seven percent, though it now believes that number is six percent, due to the global slowdown that has resulted in lower demand and weaker prices.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.