Alcoa Has Profitable Third Quarter

English: HABS No. PA-6724-2. View of entrance to ALCOA Building from southwest. ALCOA Building (a.k.a. Regional Enterprise Tower), 425 Sixth Avenue, Pittsburgh, Allegheny County, Pennsylvania. Entrance pavilion built of glass and aluminum. Design by Harrison and Abramovitz. (Photo credit: Wikipedia)

Alcoa today reported a small profit in the third quarter, saying productivity improvements offset lower sales and falling aluminum prices.

The company said it earned $24 million, or 2 cents per share, on sales of $5.77 billion vs. a loss of $143 million, or 13 cents per share, and sales of $5.83 billion in the year-ago quarter.

The results included $109 million in after-tax restructuring charges related to shutting down smelters in the face of a glut in aluminum supply. Alcoa said it has idled 274,000 metric tons of high-cost capacity in the last five months.

Read more: http://www.post-gazette.com/stories/business/news/alcoa-has-profitable-third-quarter-706729/#ixzz2hARy0Nrl

Merger’s Benefits Mulled At Antietam Meeting

Map of Berks County, Pennsylvania, United States Public School Districts (Photo credit: Wikipedia)

If the Antietam and Exeter school districts were to combine in some form, students from both could take advantage of a minimum of 42 new course offerings.

They’d also have access to 10 different buildings and added athletic facilities.

And have the opportunity to take part in up to 31 new clubs and activities.

“You’d have the capacity to do a lot more,” Kerry Moyer told more than 150 parents and residents at Antietam’s Mount Penn Primary Center Wednesday. “And you’d have the capacity to accommodate a large enrollment (increase) if it does happen.”

Read more:  http://readingeagle.com/article.aspx?id=472673

U.S. Steel Earnings Higher Than Estimates

 

U.S. Steel Tower in downtown Pittsburgh, Pennsylvania. (Photo credit: Wikipedia)

U.S. Steel Corp., the country’s largest producer of the metal, reported second-quarter earnings that beat analysts’ estimates after demand rose for tubular products.

Net income fell to $101 million, or 62 cents a share, from $222 million, or $1.33, a year earlier, Pittsburgh-based U.S. Steel said today in a statement. Profit excluding one-time items was 69 cents a share, exceeding the 49-cent average of 19 estimates compiled by Bloomberg. Sales declined to $5.02 billion from $5.12 billion, compared with the $5 billion average estimate.

Demand from U.S. Steel’s customers in the oil and natural- gas drilling helped offset lower prices for hot-rolled steel coil, a benchmark product used in cars, trucks and appliances.

Read more: http://www.mcall.com/business/mc-us-steel-earnings-20120731,0,264490.story