Alcoa posts surprise profit; shares spike

alcoa
alcoa

Alcoa Inc. (AA), the largest U.S. aluminum producer, on Wednesday said it returned to profitability after three consecutive quarterly losses, helped by cost-cutting and rising orders from automakers and other big manufacturers.

The Pittsburgh-based company forecast 11 percent growth in global aluminum demand in the second half of 2009, with shipments appearing to climb and distributors replenishing low inventories.


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