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Allegheny Technologies (ATI) Stock Down on Q1 Miss

NEW YORK (TheStreet) -- Shares of Allegheny Technologies (ATI - Get Report) are slipping 1.73% to $16.45 on heavy trading volume Tuesday afternoon after the Pittsburgh-based company posted its 2016 first quarter results.

Before today's market open, the maker of steel and specialty metals reported an adjusted loss of 58 cents per share, wider than the loss of 57 cents per share that analysts were expecting.

Revenue fell 33% to $757.5 million year-over-year and did not meet Wall Street's estimates of $793.2 million.

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