Alcoa stock rises after profit, outlook boost

Shares of Alcoa Inc (AA.N) rose more than 3 percent on Tuesday after the aluminum producer reported better-than-expected quarterly profit and said demand and order books were improving.

The strong results also helped boost Wall Street stocks, which rose 1 percent at the open.

"The restructuring moves that the company has undertaken appear to be paying off through improved profitability," analyst Anthony Rizzuto of Dahlman Rose & Co said in a research note.

"While we believe that long-term profitability is set to improve, the third quarter will be negatively impacted by seasonal factors and a lower aluminum price realization," Rizzuto wrote.

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- Posted: 2010-07-13 09:23:46

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