“Alcoa Inc. (AA), the largest U.S. aluminum producer, may report an 81 percent decline in second-quarter earnings as the eighth straight year of surplus global production drives down the price of the metal.
Profit excluding one-time items will be 6 cents a share, according to the average of 19 analysts’ estimates compiled by Bloomberg. Analysts have lowered their projections by 48 percent in the past 30 days as aluminum traded near a two-year low on the London Metal Exchange.”
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