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Alcoa Kicks Off Earnings Season. At the close of trading yesterday Alcoa ( AA) kicked off Q1 earnings season with a decent report. Net profits at the company rose 58% to $149 million with EPS beating Wall Street Estimates by over 37% at $0.11. Revenues at the company fell 3% to $5.83
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Q1 Earnings Season Starts Today. The first quarter earnings season is set to get kicked off today after the market close with Alcoa reporting. Wall Street analysts expect the company to report Q1 EPS of $0.09 versus year ago earnings of $0.10. As always the first week of earnings season
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Facebook to Announce New Cell Phone. Reports say that online social network Facebook ( FB) is scheduled to announce a new Facebook phone today. The phone will be manufactured by HTC and run on Google’s Android operating system. The phone is said to incorporate full Facebook functionality b
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Markets Set Record High. Yesterday both the Dow Jones and S&P 500 closed at record highs. The highs have been set despite the drum beats of war coming out of North Korea and the eurozone mess. Some traders are saying that the market has gotten way ahead of itself and is due for a pullb
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Stockton Eligible For Bankruptcy. A judge yesterday cleared the way for Stockton California to file for bankruptcy protection. In doing so, Stockton will become the largest U.S. city to ever file for bankruptcy. Like many cash strapped cities and states, outlandish pensions where form
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S&P Trading Closest to Estimates in Seven Years. Shares of companies that make up the S&P 500 index are now trading at just 5% below Wall Street estimates. Shares that make up the index typically trade at 14% discount and the current level is the closest level in 7 years. The
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Cyprus Banks Reopen. After nearly being closed for nearly two weeks Cyprus banks reopened today. Cash withdrawals are now limited to only €300 per day. Time deposits cannot be withdrawn until maturity, and check-cashing is banned. Additionally, those leaving the country can take only €1K
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Stock Futures Point Up. U.S. stock futures are higher in the pre-market after the Commerce Department reported a better than expected Durable Orders report. Wall Street analysts had expected Durable Orders to rise 3.8%, but that number was easily beaten, coming in at 5.7%. Last month’s re
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Cyprus Agrees to Bailout. Cyprus and the eurozone have agreed to a €10B bailout. The deal requires the Cyprus’s second largest bank Laiki will be closed and its operations folded into Bank of Cyprus. Laiki's senior bondholders will lose their investment, while Bank of Cyprus's creditors
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American’s Net Worth Falls. A recent report showed that American’s net worth fell 39%. The median net worth of American households in 2005 was $107,000 in 2011 it had fallen to only $69,000. Additionally, debt in households headed by older people more than double. During the l


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