Alcoa drops to new 52-week low

Saturday, Mar 07, 2009
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Alcoa (NYSE:AA) was among a handful of companies whose stock prices hit new 52-week lows on Thursday, as the Dow Jones Industrial Average index dropped below 6,600. New York-based Alcoa, which employs about 2,000 on Pittsburgh's North Shore, closed Thursday trading down more than 15 percent, at $5.27 per share. Standard & Poor's Inc. has cut its rating for Alcoa Inc. by two notches to "BBB-minus" and said the outlook for the aluminum company is negative. In January, Alcoa announced it had posted a $1.2 billion loss for its fourth quarter, as it struggled with free-falling metals prices and a global industrial slowdown. source:www.bizjournals.com

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