Alcoa Stung by Downgrade (AA)

Posted in pre-market 
August 19th, 2009

Alcoa, Inc. (NYSE: AA) was already under pressure with the market this morning, but a downgrade is hurting the stock.   Goldman Sachs cut the aluminum giant to “Neutral” from “Buy” and this is adding further pressure.  Before the 8:00 AM EST pre-market level we are seeing shares trade down close to 4% around $12.42 in relatively thin trading volume.  Volume should pick up as we get closer to the 9:30 opening bell as this is a NYSE-listed stock. -JON OGG

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