Stock Market News: Alcoa Falls on Supply Fears; XPO Soars on Breakup Plans
Stock Market News: Alcoa Falls on Supply Fears; XPO Soars on Breakup Plans | NASDAQ. Wall Street has been in a good mood in 2020, and the gains kept coming for the stock market on Thursday morning. Alcoa's (NYSE: AA) earnings report pointed to some of the challenges that the aluminum producer is facing, but XPO Logistics (NYSE: XPO) created some excitement as it considers a major strategic shift that could result in the company breaking itself up into multiple parts. Shares of Alcoa dropped 11% Thursday morning after the aluminum producer reported its fourth-quarter financial results. Although the company is no longer the first major enterprise to report its quarterly results each earnings season, many still follow Alcoa as an indicator of how the materials sector is performing.