Alcoa's Profit Disappoints, Knocking Down Its Shares

Aluminum giant Alcoa (AA) on Monday posted a narrower fourth-quarter net loss, helped by costs cuts and higher aluminum prices, but its earnings fell short of Wall Street's forecast. For the three months ended Dec. 31, Pittsburgh-based Alcoa reported a net loss of $277 million, or 28 cents a share, versus a year-ago loss of $1.19 billion, or $1.49.