Alcoa Corp. said Thursday it will launch a new $500 million stock buyback program.
The move will bring the total amount of shares it can repurchase up to $650 million. The aluminum maker said that it had $150 million of share buybacks left from a previous authorization.
rose 5.6% after hours to $51.28 after the company beat analysts’ earnings and sales expectations for the third quarter.
Write to Kimberly Chin at firstname.lastname@example.org