Alcoa Gains After Hours
Alcoa dropped earlier yesterday, and dropped as low as $13.90 before rebounding some in after hours, where as of this writing has increased to $14.35 a share. It had went as high as $14.45 a share at one time.
Much of the negative activity came about from metal prices falling during the day.
Even though Alcoa had experienced a major drop in sales last year, they cut costs significantly, along with capital spending, where it doubled its cash holdings to $1.5 billion.
This gave them a nice cushion and money available to grow through acquisitions or improve production.
Alcoa opened at $14.06 yesterday morning.
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