By Connor Hart
QXO disclosed an offering for $500 million of shares of its common stock. The building-products distributor said it intends to use proceeds from the sale to finance a portion of its pending acquisition of Beacon Roofing Supply. However, it added the offering isn't contingent upon the acquisition. Shares fall 7.2%, to $13.23, in after-hours trading.
Alcoa said it doesn't have any immediate plans to restart its idled U.S. production capacity, despite the Trump administration's new tariffs sending costs higher. The aluminum producer paid $20 million in tariffs during the first quarter, charges that are expected to grow to $90 million in the current quarter. Despite tariff and economic uncertainty, Alcoa swung to a profit and logged higher revenue in the quarter. Shares fall 1.5%, to $24.70, in postmarket trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
April 16, 2025 19:40 ET (23:40 GMT)
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