Why Alcoa Stock Rallied 15% in July
Shares of Alcoa (NYSE: AA) jumped 15% in July, according to data from S&P Global Market Intelligence. The move higher came in the wake of the aluminum specialist's mid-month second-quarter earnings release.
On the surface, Alcoa's Q2 results weren't all that great. Revenue was down 20% year over year. Adjusted earnings came in at a loss of $0.02 a share, compared to a loss of $0.01 per share in the previous year. Adjusted EBITDA, meanwhile, plunged 59%. It was a pretty bad quarter on an absolute basis.
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Source Fool.com
