Seven cents a share. Expectations were for 14 cents. Revenue came in around 5. 5 billion, down more than 10 from a year ago, hurt by sliding Aluminum Prices. Shares of alcoa dropped initially on that report in afterhours trading. During the rg session it finished slyly higher. Despite the disappointing quarter cnn Klaus Kleinfeld called his company resilient. If you look at whats going on in the market, you see theres a lot of volatility thats in there. From Commodity Prices to currencies, to worries over china, emerging economies, Interest Rates. And if you look at that and then reflect it to our quarter, i think you see quite a bit of resilience in there. Morgan brennan has more on alcoas quarterly results. Reporter alcoa earnings and revenue missing expectations with the biggest drag coming from its primary metals segment or the aluminum giants smelting and refining operations. The company reporting a 59 million loss in that division as Aluminum Prices have plunged 25 this year. As
It is the last day of the trading week. Lets check in on markets with caroline hyde. It has been quite a week. Caroline the hangover seems to have hit. A few heavy heads amid the christmas festivities. It looks as though the hangover has set in stocks as well. We have euphoria after we saw at last the Federal Reserve increase their rates, and actually, the markets seem to abide by the fact that janet yellen is saying the economy strong enough. Now we have a deterioration. On the stoxxing 600 after all the gains of the Federal Reserve rate hike in the u. S. Have been wiped out. Significant declines and the United States yesterday. If you dig into the Industry Groups, have a look at this. Across the board, nearly every single Industry Group is falling on the stoxx 600. Miners are up. Up 1 , leading the charge after we saw that china copper looks like they might be a building stockpiles. That is helping metals this morning. Miners overall managing to weather the storm today. Look at it in
Good morning and welcome to Worldwide Exchange here on cnbc. Buckle up it looks like were in for another wild market ride today. China once again the big story overnight. Lets catch you up on what happened. Stocks there dropping more than 3 in early trading and then the central bank stepped in. Reports that state controlled funds bought stocks and that the peoples bank of china pouring about 20 billion into the money markets. That was the largest cash injection since september. Also they were likely using state banks to prop up the currency. After all of that they ended flattish to lower but not a huge boost. Not at all and they were saying it would further restrict sales and that set up after he was discussing. This is what kicked in yesterday. Exactly. He was highlighting that these big moves are par for the course in china and by putting the Circuit Breaker there it stops the ability for it to rally back later in trade because if you cut the trade off there and it doesnt get that in
Oil down 15 since the opec meeting. Our road map begins with oil hitting seven year lows. We have news on the m a front. The latest on deals that may or may not happen. And chipotle down another 5 premarket, dragging that stock down nearly 20 so far this year. The latest on the companys e. Coli outbreak. Futures moving lower following mondays stock market decline. November data showing chinese exports fell for a fifth consecutive month. Weve seen wti fall below 37 for the First Time Since early 09. Shares of Mining Companies taking a hit after Anglo American announced plans to cut jobs as part of restructuring. Rio tinto said it will cut cap x in 16. Its all over today. Rio is off 39, valet, 69 . When you slash 85,000 jobs out of 135,000, what does that say about the amount of equipment youll spend . What does it say about the ancillary companies related to mining . This is all related to china. 13 straight months of chinese imports slumping. You cant have a Strong Industrial economy w
Welcome to countdown. It is just 6 00 here in london. Coming up, the Israeli Basketball Team with big plans for cracking america. How they are making a play for the big time. Our top story, democracy protest in hong kong luck to streets and divided the city for the two months and it is coming to an end. Baliffs have moved in the last remitting site. Live from hong kong with the details. This hour,nd that at 6 00 here in london, and this hour has been targeted as a key deadline for the protesters in hong kong. Yes, where Hearing Police that now announcing protesters and others who should not be in the area should be leaving immediately. They have announcing this at regular intervals for the last hour. They said able start clearing this site very soon, maybe in the next five minutes. What has happened today is that part of the protest site was covered by an injunction in that part was cleared this morning by some people who are authorized by the company to do so and they were watched by