A question on the notation in Hartshorne's Algebraic Geometry

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My confusion is in III.Corollary $9.4$. By $\mathcal{F}_y$ does he mean the pull-back of $\mathcal{F}$ by the closed immersion of $X_y$ into $X$? By $\mathcal{F} \otimes k(y)$ does he mean the pull-back of $f_*\mathcal{F}$ under the closed immersion of $\mbox{Spec} k(y) \to Y$? Is there a better reference for this result?