Argus Cuts Alcoa to Hold as Shares Fall 5% in Thursday Trading

Alcoa shares fell 5% in Thursday, Oct. 22, trading as Argus lowered its rating on the company to Hold from Buy. Argus cited near-term margin pressure in making the change.

Aluminum prices were near multi-month lows, while supply was improving outside the Middle East. Alcoa was struggling to overcome pricing pressure.