Alcoa Signs $1 Billion Contract With Airbus

Alcoa Inc has signed a deal with Airbus Group SE for multi-material aerospace fastening systems worth about $1 billion, the largest ever between the two companies. Alcoa fasteners fly on all Airbus platforms, including the latest A350 XWB commercial planes. The fasteners will be made in 14 of the company's global manufacturing facilities. Alcoa is down 14.2% over the past three months. The S&P is down 6% for the same period.