Century Aluminum Slaughtered (CENX)

Century Aluminum Company CENX is getting dropped on its proverbial head today, down more than 5% after reporting a loss of 18 cents per share in the third quarter yesterday. The company blamed the losses on higher power costs, and mark-to-market losses on forward contracts. CEO Logan Kruger was particularly bearish on the aluminum market going forward. "Global aluminum inventories remain high and economic activity in, and the state of finances of, developed regions remain a concern. We thus continue to manage the company with a bias toward protecting the downside," he said.