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Shares of Alcoa (NYSE:AA) jumped more than 1.5 percent in late afternoon trading. The aluminum giant reported financial results for the fourth quarter. Net income increased to $242 million (21 cents per diluted share), compared to a net loss of $191 million a year earlier. “Alcoa hit record profitability in our mid and downstream businesses, and continued to drive efficiency in our upstream businesses in the fourth quarter, all while cutting debt and maintaining our cash position,” said Klaus Kleinfeld, Alcoa Chairman and CEO.
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