INSTANT VIEW: Alcoa posts fourth-quarter loss

NEW YORK (Reuters) - Aluminum producer Alcoa Inc, which is slashing 15,000 jobs, halving capital spending and selling four businesses, on Monday reported a fourth-quarter loss as the global economic crisis sent revenue plummeting on lower metal prices.

The following are market comments about the company's results:

COMMENTS:

JONATHAN PAVLIK, PORTFOLIO MANAGER AT STEWART CAPITAL ADVISORS LLC IN INDIANA, PENNSYLVANIA

"They are trying to prepare the best they can for what is happening going forward. A lot of the markets they sell to are obviously having problems, whether it is automobiles or aerospace or construction. At least it looks like they do have some cash on hand and their revolving credit facilities are still in good shape and looks like they have minimum debt due in 2009 so there are some positives, but I think they are just trying to find the right mix between cutting costs and cutting expenses out of the company.

"Considering they came in lower than even the lowest estimate, I can't see that that paints a good picture going forward ... It is their first net loss in six years and it was wider than anybody had suggested."

CHUCK BRADFORD, ANALYST, BRADFORD RESEARCH/SOLEIL

"I think what people need to pay attention to is the first quarter because the aluminum price is lower again.

"The first quarter has got to be materially worse than the fourth quarter unless you see a dramatic recovery in the metal price. And I don't think we will. There's nothing they can do about it."

MICHAEL JAMES, SENIOR TRADER AT REGIONAL INVESTMENT BANK WEDBUSH MORGAN IN LOS ANGELES

"The bar was set pretty low for Alcoa coming into the earnings today. The only potential surprise that could be there is how they address any guidance for the future and any potential hints toward the overall economic slowdown and when they expect things to pick up again.

"People are for the most part mentally prepared for not great earnings and not great commentary on the near future."

BRIAN HICKS, CO-MANAGER OF GLOBAL RESOURCES FUND, PART OF U.S. GLOBAL INVESTORS INC

"At current aluminum prices, they're not able to make money at these levels. It wouldn't surprise me to see further production cuts."

He added that he saw few positives on the horizon "with demand down as much as it is and with inventories rising."

(Reporting by Deepa Seetharaman and Rodrigo Campos in New York, Braden Reddall in San Francisco, and Anna Driver in Houston.)