Why Alcoa Stock Soared by Almost 13% on Thursday

A double miss on quarterly analyst estimates usually pushes a stock's price down, but that wasn't the case with Alcoa (NYSE: AA) on Thursday. Despite the twin whiffs the company posted in its third quarter, market players were encouraged by management's strategy to cope with a major challenge in the aluminum industry.With that, Alcoa's shares closed the day nearly 13% higher in price. This compared very well to the 0.6% increase of the bellwether S&P 500 (SNPINDEX: ^GSPC).Just after the market closed on Wednesday, Alcoa unveiled third-quarter financials. These showed that revenue inched up by 3% on a year-over-year basis to a shade under $3 billion. Net loss not in accordance with generally accepted accounting principles, or GAAP, was $6 million ($0.02 per share). That represented a flip from the $135 million profit of third quarter 2024. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool