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Market Update : 
Alcoa's Profit Rises 76%, Beats Estimates
Author: 123jump.com Staff
123jump.com
Last Update: 8:43 AM EST January 10 2008

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The world number one aluminum maker’s earnings climbed 82% to 75 cents per share from 41 cents a year earlier, marking the company’s biggest gain so far. Third quarter earnings stood at $555 million or 63 cents a share. Lower metal prices and the poor results from the soft alloy extrusion business, reduced quarterly revenue to $7.39 billion from $7.84 billion last year. During 2007, Alcoa faced higher material and energy costs but continued to pump money into its capital improvement program.

 
After hours Wednesday, Alcoa stocks gained 4.16% or $1.30 to $32.55. Over the past 52 weeks, the stock has traded in the range $29.21 and $48.77. Analysts polled by Thomson Financial are targeting a one-year price of $44.53.

Alcoa is the world''s largest producer of primary aluminum, fabricated aluminum and alumina facilities.
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