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NEW YORK - Alcoa Inc. posted a nearly 24 percent drop in quarterly profit because of rising raw material costs, results which are likely to move shares of the aluminum producer on Wednesday.
Profit and sales still topped Wall Street expectations, however.
Meanwhile, communications technology company Arris Group Inc. predicted second-quarter sales below its prior outlook.
Also, Arris forecast earnings at or near the low end of its previous forecast because of "maturing demand" for some products.
Elsewhere, mattress maker Sealy Corp. said after Tuesday's closing bell that second-quarter profit dropped 26 percent as domestic sales volumes declined and costs for materials jumped.
Gross margin was hurt by increases in U.S. material costs and expenses for the rollout of a new line of Posturepedic mattresses, among other factors.
China's bid to establish its own next generation mobile phone technology standard got a boost from the world's biggest cell phone maker...
U.S stocks fell on Wednesday as investors grew concerned that a bailout loan package for ailing automakers would fail to be approved by U.S. lawm...
Somali pirates have released a Greek-owned tanker that was hijacked in September, a Greek government spokesman said Saturday. The tanker MV Geniu...
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