Submitted by Fox First at Ten on October 9th
By The Associated Press
BY THE NUMBERS: Alcoa reported a third-quarter loss of $143 million, or 13 cents per share, largely on one-time charges. Revenue fell to $5.83 billion from $6.42 billion. Its adjusted results beat analysts' estimates.
WHY IT MATTERS: Alcoa produces aluminum for a wide range of businesses. It's the first company in the Dow Jones industrial average to report quarterly earnings, so investors often watch its results for signs of how earnings may unfold for other companies.
ECONOMIC EFFECT: Alcoa lowered its 2012 forecast for growth in global aluminum demand to 6 percent from 7 percent, citing China's economic slowdown.
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