Alcoa Inc. posted a first-quarter profit that beat Wall Street expectations but its revenue fell short as it continues to transform itself into a supplier for the auto and aerospace industries.
Alcoa was helped by aluminum prices that were 10 percent higher than a year ago, although down from the fourth quarter of 2014. It said growth was mostly driven by its autos and aerospace business.
11:20 PE firm Warburg buys $121 million stake in Indian cinema operator PVR5
13:48 Wells Fargo Profit Falls 5.4% as Mortgage Revenue Declines24
12:08 Bank of America Profit Rises 43% on Trading Gains, Cost Cuts23
12:02 Bank of America tops earnings forecast, predicts 'significant increase' in net interest income20