Alcoa Corp Sinks 13% On Q1 Revenues Missing Street Estimates

Shares of Alcoa Corp. (AA) are sliding 13 percent on Thursday's trading continuing their downward movement since Wednesday.

The stock was negatively impacted by second-quarter revenues falling below the Street estimates. Revenues for the quarter rose to $3.29 billion from $2.87 billion a year ago. Analysts had a consensus revenue estimate of $3.45 billion.

The aluminum producer said that sales slumped as prolonged supply-chain disruptions curbed shipments.

The company's first-quarter profit soared to $469 million or $2.49 per share from $175 million or $0.93 per share last year.

Currently at $75.39, the stock has traded between $31.00 and $98.09 during the past 52 weeks.

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