8 Stocks Hitting Trading Screens: Alcoa Cuts Smelting Capacity 12%, JNJ Coughs UP $1 Billion and RF Micro Devices Falls 13%
Shares of Alcoa Inc. (NYSE:AA) are trading 1.40 percent lower after the closing bell. The company said it will reduce its global smelting capacity by 12 percent, due to the large decline in aluminum prices.
Investing Insights: Aloca Kicks Off 2012 Earnings Season with These Expectations.
Family Dollar Stores Inc. (NYSE:FDO) shares are down 2.48 percent in late trading. The company reported fiscal first quarter profits of $80.4 million, or 68 cents per share. Shares of Dollar General Corp. (NYSE:DG) and Dollar Tree Inc. (NASDAQ:DLTR) are also trading lower.
Johnson & Johnson (NYSE:JNJ) continue to edge lower in extended trading hours. The consumer healthcare company will pay more than $1 billion to the U.S. and most states to resolve a civil investigation regarding marketing practices of its anti-psychotic Risperdal drug.
Don’t Miss: Kraft Leverages Soda.
After closing the day down almost 1 percent, Yahoo! Inc. (NASDAQ:YHOO) shares continue to decline in late trading. Bloomberg reports, “The Weather Channel and WebMD Health Corp. (NASDAQ:WBMD) are among companies Yahoo is interested in owning as part of a tax-efficient asset swap with Alibaba Group Holding Ltd. and Softbank Corp., said three people with knowledge of the matter.” WBMD shares are trading higher on the news.
Shares of RF Micro Devices Inc. (NASDAQ:RFMD) are plummeting almost 13 percent after the company provided a Q3 update. CEO Bob Bruggeworth said, “RFMD is navigating broadly lower demand in 2G handsets and softness across MPG’s markets. Despite this challenging macro environment, RFMD is winning new business with industry-leading products and technologies, and we fully expect to grow in fiscal 2013, supported by market share gains, new product launches, and expanding relationships with both channel partners and customers.”
Investing Insights: These 5 CEOs Made Bank on Rising Share Prices in 2011.
To contact the reporter on this story: Eric McWhinnie at email@example.com
To contact the editor responsible for this story: Damien Hoffman at firstname.lastname@example.org