Strike, Hurricane Ivan cause flat quarterly earnings at Alcoa
691211
Alcoa yesterday reported third-quarter net income of $283 million, or 32 cents per diluted share, unchanged from the aluminum maker&#39;s results in the year-ago quarter.
382262
Aluminum producer Alcoa Inc said on Wednesday that fourth-quarter net profit rose 76 percent on favorable restructuring and tax benefits, offsetting lower aluminum prices.
256412
TORONTO - World crude prices eased Thursday after hurricane Ivan passed over the US Gulf Coast&#39;s oil refineries and drilling platforms without causing serious damage.
570519
Hurricane Ivan spared the critical Gulf Coast refining belt, but oil prices rose anyway Thursday on fears a new storm brewing in the Caribbean will delay tankers carrying imported crude to U.S. ports.Ivan swept east of major refineries, tank farms and other facilities in Louisiana and Texas. It also bypassed the biggest concentrations of offshore oil and gas production platforms in the Gulf of Mexico.ChevronTexaco's Pascagoula, Miss., refinery was the closest to the hurricane's path and remained closed Thursday. "The preliminary (damage) assessment is somewhat positive," said spokesman Steve Renfroe, who said the company had not determined when it could restart the plant.But on Ivan's heels Tropical Storm Jeanne knocked out a portion of production at a refinery in the U.S. Virgin Islands and barreled toward Puerto Rico.As a result, oil for October delivery rose 30 cents to &#36;43.88 a barrel on the New York Mercantile Exchange.Energy companies feared Ivan would make landfall in Louisiana or Texas and damage refineries there. The Gulf Coast accounts for nearly half of U.S. daily refining capacity of 16 million barrels. U.S. refiners are running near capacity to build stocks of winter heating fuels."The industry dodged a bullet in that the storm was really a couple of hundred miles east of refinery row (north of New Orleans) up the Mississippi River," said Jeff Dietert, refining industry analyst at Simmons &amp; Co. He said precautionary closures eliminated about 1.5 million barrels of gasoline and other products from the daily total.One of the nation's most important pipelines, the Capline carrying imported crude from New Orleans to Patoka, Ill., for Midwest refiners, was undamaged, said Shell, operator of the line.Still, Dietert predicted higher futures prices for oil and gasoline - and ultimately for consumers - after the government reports data on fuel stockpiles next week. That report will show how much oil companies and their customers have drawn from crude and gasoline inventories to make up for deliveries delayed by Ivan and Jeanne.Colm McDermott, analyst at energy research firm John S. Herold, said consumers might escape without much pain. If the impact of the refinery closures and delivery delays is short-lived, wholesalers, retailers and others in the supply chain might eat price increases rather than pass them on.Reuters reported that Ivan forced the shutdown of eight refineries, or 13% of U.S. capacity. Half of those were restarting Thursday.Offshore, Shell and other producers were flying work crews back out to some evacuated oil and gas platforms and doing aerial damage assessment of others.Shell said its refining and chemical plants in Louisiana had restarted or were never shut down. A Mobile, Ala., chemical plant remained closed, it said.
674852
DALLAS (CBS.MW) -- Oil stocks continued to sink in Wednesday afternoon trading as Hurricane Ivan forced widespread production shutdowns in the Gulf of Mexico, but service shares rallied after reports of significant declines in crude supplies.
681146
U.S. stocks were flat on Monday as oil  prices neared $50 a barrel after a blizzard moved through the  U.S. Northeast.
148003
The aluminum producer Alcoa said its fourth-quarter profit rose 76 percent as revamping and tax benefits helped offset lower aluminum prices.
344215
U.S. blue chips were flat on Monday  after a report showing an unexpected drop in November  construction spending offset a drop in oil prices, while a  brokerage downgrade of Sun Microsystems SUNW.O hurt Nasdaq.
623883
Aluminum producer Alcoa Inc   said on Wednesday that fourth-quarter net profit rose 76  percent on restructuring and tax benefits, offsetting lower  aluminum prices.
630283
Alcoa&#39;s profit warning a thorn in industrials&#39; side. Nasdaq up with PeopleSoft, extended tech rally. NEW YORK (CNN/Money) - Alcoa&#39;s profit warning bruised the Dow Friday, while the broader market inched higher
13579
PITTSBURGH Alcoa reported slightly improved earnings today on higher aluminum prices, though the company was plagued throughout the third quarter by a fire, a hurricane and labor strife.
88127
US stock futures pointed to a flat market open Thursday as a rush of quarterly earnings reports painted a mixed picture for corporate profits amid lingering worries over the high price of oil.
382997
Alcoa Inc. (AA.N: Quote, Profile, Research) , the world&#39;s biggest aluminum producer, said on Thursday that net income for the quarter rose slightly, as labor problems and
565639
Alcoa Inc. AA.N, the world's biggest  aluminum producer, said on Monday its quarterly net profit  slipped because of higher energy costs, a weaker dollar and a  charge it took for divesting non-core businesses.
707843
NEW YORK - Investors worried about third quarter-earnings looked past a surprise drop in wholesale prices, sending stocks lower on profit warnings from Dow component Alcoa Inc. and Visteon Corp...
695184
U.S. oil prices hovered just shy of &#36;44 a barrel on Tuesday, awaiting the arrival of Hurricane Ivan in the oil-rich Gulf of Mexico, where energy companies had evacuated thousands of offshore workers and shut some production.
700484
Drilling contractor Ensco International Inc. on Tuesday said its earnings fell 7 percent in the third quarter on charges from damage caused by Hurricane Ivan and from less use of its deepwater drilling rig during the period.