Alcoa's 4Q earnings miss estimates
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Shares plunge more than 4% in after-hours trading on earnings per share of 4 cents in fourth quarter.
Alcoa, ;the Pittsburgh-based aluminum giant, reported just after the market close Thursday a gain of 4 cents per share in the fourth quarter, missing analysts' estimates by 2 cents or more.
Alcoa's earnings report marks the unofficial start to the corporate earnings season and is considered a bellwether of the manufacturing sector.
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The company reported revenue of $5.59 billion in the fourth quarter vs. $5.9 billion in the same quarter a year earlier.
Shares fell 15 cents, 1.4%, to close at $10.68 Thursday. In after-hours trading, shares plunged 46 cents, 4.2%, to $10.28, on the earnings miss.
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