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Updated from 3:16 p.m. EST
The first earnings season of 2009 has commenced with the traditional kick-off by Alcoa (AA Quote).
Related: AA Preview: Have We Seen a Cyclical Bottom? and Alcoa Loss Exceeds $1B in Fourth Quarter
Since Alcoa last reported on Oct. 7, 2008, the market went into a tailspin. We saw the economic and financial crisis deepen as the U.S. Government enacted programs to support the banking and automobile industries. Unemployment took a nasty turn for the worse and fourth quarter GDP is expected to decline dramatically. ...
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