On Friday, Shares of Alcoa Inc (NYSE:AA), lost -6.86% to $10.26. 78.72 million shares of the company were exchanged.
Lightweight metals leader Alcoa (AA) stated a third quarter profit as its value-add and upstream portfolios delivered solid results in the face of strong market and currency headwinds. Alcoa has been transforming by building its value-add portfolio for profitable growth and creating a globally competitive upstream business. The Company’s successful multi-year transformation will culminate with the launch of two Fortune 500 companies, one value-add focused and the other upstream focused, predictable in the second half of 2016.
Alcoa stated third quarter 2015 net income of $44 million, or $0.02 per share, counting $65 million in net unfavorable special items. Special items comprised of restructuring-related costs to optimize the upstream portfolio and transaction costs, partially offset by gains on asset sales. Third quarter 2015 results compare to net income of $149 million, or $0.12 per share, in third quarter 2014.
Not Taking Into Account special items, third quarter 2015 net income was $109 million, or $0.07 per share, led by strong productivity gains and solid midstream and downstream profitability, offset by lower metal prices. The Midwest transaction price was down $641 per metric ton, or 27.2 percent, year-to-date through September 30, 2015. Third quarter 2015 results, not taking into account special items, compare to net income of $370 million, or $0.31 per share, in third quarter 2014.
Alcoa Inc. produces and manages primary aluminum, fabricated aluminum, and alumina worldwide. The company operates through four segments: Alumina, Primary Metals, Global Rolled Products, and Engineered Products and Solutions.
Shares of Frontier Communications Corp (NASDAQ:FTR), declined -4.25% to $5.18, during its last trading session.
Frontier Communications Corporation (FTR) plans to release third-quarter 2015 results on Tuesday, November 3, 2015 before the market opens, and to host a conference call that morning at 8:30 A.M. EST. The conference call will be webcast and may be accessed in the Webcasts & Presentations section of Frontier’s Investor Relations website at www.frontier.com/ir.
Frontier Communications Corporation, a communications company, provides regulated and unregulated voice, data, and video services to residential, business, and wholesale customers in the United States.
At the end of Friday’s trade, Shares of Verizon Communications Inc. (NYSE:VZ), declined -0.18% to $44.15.
Verizon launched its HopeLine phone donation drive in southwest Pennsylvania with participating organizations counting Allegheny County and the City of Pittsburgh. The county-wide drive supports Verizon’s aim of collecting 1 million donated phones by the end of 2015 with proceeds supporting domestic violence awareness and prevention initiatives.
Allegheny County Executive Rich Fitzgerald launched the drive with leaders from participating organizations at the Allegheny County Courthouse in Pittsburgh on Tuesday, Oct. 6. Fitzgerald formally kicked off the drive by donating the inaugural phone to a HopeLine collection box at the courthouse.
“Domestic violence is an issue which impacts people from all walks of life. It recognizes no race, gender, income, religion or other feature,” declared County Executive Fitzgerald. “We believe that it’s time for No More domestic violence in Allegheny County, and throughout the world, and are proud to be part of the HopeLine collection event. Donation boxes will be accessible in county offices throughout the month of October, allowing us to make a difference while also ongoing to raise awareness of the issue and support initiatives to end domestic violence.”
Verizon Communications Inc., through its auxiliaries, provides communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide.
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