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Alcoa is Reducing its System Capacity by 12%

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  • Description

    FBN’s Robert Gray on Alcoa’s plans to reduce system capacity in an effort to cut costs.

  • Duration 0:54
  • Date

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I'm Robert Gray with your Fox Business -- most of the major stock indices overcame early declines -- posted gains for the day as investors -- a positive surprise in the US labor market.

Think -- fresh jitters over Europe's debt crisis.

After seeing triple digit losses during the session after the closing bell the Dow is down just three points.

Alcoa is reducing system capacity by 12%.

To cut cost.

The aluminum giant is permanently closing its military facility and Alcoa Tennessee -- -- -- third of its lines at a Texas plant.

No word on how many jobs will be affected -- expects to take a fourth quarter charge of up to 165.

Million bucks.

Shares of Apollo Group are higher in extended trading the online education company's first quarter profit beat estimates.

The top end of a policy full year forecast would topped expectations.

That is the latest from the Fox Business Network giving you -- power to --

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