Afternoon BUZZERS: Alcoa DROPS After Earnings, Microsoft Aims Low on Surface Tablet
Alcoa Inc. (NYSE:AA) shares fell 2.42 percent this afternoon. The aluminum producer reported a loss of $2 million for the second-quarter, compared to a net income of $322 million in the year-earlier quarter. Revenue declined 8.8 percent to $6.01 billion, but beat the average revenue estimate of $5.81 billion. “Alcoa maintained revenue strength and solid liquidity by driving high profitability in our mid and downstream businesses and by reducing costs and improving performance in our upstream businesses,” said Klaus Kleinfeld, Chairman and CEO.
Microsoft Corp. (NASDAQ:MSFT) shares are down 0.80 percent this afternoon. The company’s CEO Steve Ballmer has a goal to sell a “few million” Surface tablets in the coming year. For comparison, Apple Inc. (NASDAQ:AAPL) sold nearly 12 million iPads in the March quarter.
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Beazer Homes USA Inc. (NYSE:BZH) shares plunged over than 11 percent today. The homebuilder announced it will offer $75 million in common stock and $75 million in tangible equity units. It will use the proceeds for general corporate purposes as well as land investments in Texas, North Carolina, Florida, California and Arizona.
Applied Materials Inc. (NASDAQ:AMAT) shares were down 2.09 percent this afternoon. The company said it expects net sales for the full-year to be below the previous estimate of $9.1 billion to $9.5 billion, citing weaker than expected near-term demand. The chip-fab equipment maker also added that adjusted profit is expected to come in below the previous forecast of 85 cents to 95 cents per share.
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