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An employee at Alcoa Warrick Operations inspects finished rolls of aluminum. (DANIEL R. PATMORE/AP)
An employee at Alcoa Warrick Operations inspects finished rolls of aluminum. (DANIEL R. PATMORE/AP)

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Alcoa and irrational despondency Add to ...

Equity investors are braced for shockingly bad third-quarter earnings. On that basis, Alcoa lived up to expectations with the debut results of the season. Profit fell short of forecasts because of a fall in global aluminum prices. On the other hand, revenue was up, suggesting there could yet be bigger potential for shares on the upside. Investors appear to have already priced in much of the global gloom.

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