Shares of Alcoa Inc
The stock was down $1.61, or 9.23 percent, at $15.84 on the New York Stock Exchange soon after the market opened.
On Monday, Alcoa reported a net loss of $277 million, or 28 cents per share, compared with a loss of $1.19 billion, or $1.49 per share, in the fourth quarter of 2008.
Excluding charges of 28 cents a share for restructuring, special items and discrete tax items, Alcoa earned 1 cent a share on an operating basis, short of the 6 cents a share expected, on average, by analysts. according to Thomson Reuters I/B/E/S.
(Reporting by Steve James, editing by Dave Zimmerman)