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Jan 6th

Alcoa To Cut Production

Alcoa To Cut Production

Alcoa shares tumbled in 2011, as the aluminum manufacturer's shares lost nearly 45 percent from their high for the year, making the stock the second-worst performer on the Dow Jones industrial average, behind only Bank of America. The shares fell another 1.5 percent on Friday after the company announced it plans on reducing its smelting capacity by 12 percent based on the continued decline in demand. Also hurting the company, analysts in a recent Bloomberg survey projected the company to report fourth quarter earnings of just 1 cent per share, a 96 percent decline from its 4Q 2010 profit of 21 cents a share.

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