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Tuesday, July 8, 2014

Alcoa results beat Wall Street, shares rise, (NYSE: AA)

Aluminum producer Alcoa Inc reported a second-quarter profit and revenue that beat analysts' expectations, as the company focused on selling products from its downstream business, which include truck wheels and aircraft fuselages.Shares of the largest U.S. aluminum producer rose 2 percent in after-hours trade to $15.15.The company earned $138 million, or 12 cents a share, compared with a loss of $119 million, or a loss of 11 cents, a year earlier. Sales were flat at $5.8 billion.Excluding the impact of special items, earnings were $216 million, or 18 cents a share for the three months ended June. That compared with earnings of $76 million, or 7 cents a share, in the same period a year ago.

Alcoa Inc. (Alcoa) is engaged in lightweight metals, products and solutions. Shares of AA traded higher by 0.75% or $0.11/share to $14.85. In the past year, the shares have traded as low as $7.68 and as high as $15.18. On average, 16240100 shares of AA exchange hands on a given day and today's volume is recorded at 26891838.