Alcoa stock up on unexpected 1st-quarter profit
NEW YORK (Reuters) – Shares in Alcoa Inc rose 7 percent on Wednesday, a day after the aluminum company posted a first-quarter profit instead of a loss Wall Street was expecting. The late-Tuesday results from Alcoa, a Dow component company, helped lift stocks after five days of losses that had brought down the benchmark Standard & Poor’s 500 index more than 4 percent. Analyst Tony Rizzuto, of Dahlman Rose & Co, raised his full-year 2012 earnings estimate for Alcoa to 50 cents per share from 40 cents per share following Tuesday’s results. . . .
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