Dow Jones vor dem Crash!

so konnte der crash auch erst entstehen. Der Schreiberling hat einfach zu wenig geschrieben, damit er nicht so viel wischen muss, der faule Sack. Und schwupps lag die Welt darnieder. Hätten sie ihm ne Putzfrau zur Seite gestellt, wär das Drama gar nicht erst passiert.  

bunten Charts?

Never Change a winning Horse!

Strategie erzeugt Macht und Reichtum aber oftmals geistige Armut!

 

{Crash}
Als Crash wird ein extremer Kursverlust an Börsen bezeichnet.
Ursache ist oft eine Spekulationsblase: Steigende Kurse veranlassen immer mehr Anleger auf den fahrenden Zug aufzusteigen, was die Kurse der Aktien weiter in die Höhe treibt.

Auf ihrem Höhepunkt "platzt" die Blase, die Verkäufe lösen weitere Verkäufe und letztlich einen Kurssturz aus.

Umgekehrt gibt es dasselbe Phänomen: Kursverluste (z.B. aufgrund äußerer Ereignisse wie der Asienkrise) führen zu (oft irrationalen) Ängsten der Anleger, die sich gegenseitig verstärken.

Im Prinzip sind diese Phänomene den meisten Anlegern (Marktteilnehmern) bekannt.

Es gibt jedoch keine Möglichkeit, objektiv zu beurteilen, ob eine Übertreibung des Marktes ihren Höhepunkt oder Tiefpunkt erreicht hat.
Der faire Wert einer Aktie ist in einem funktionierenden Markt ihr jeweils aktueller Wert.

Wer darauf spekuliert, dieser Wert werde kurzfristig steigen (oder fallen), setzt auf die Vermutung, er könne besser als andere Marktteilnehmer die künftige Entwicklung des Wertes beurteilen.

Die kurzfristige Spekulation mit Aktien hat somit Glücksspielcharakter, und sie ist die Hauptursache der Übertreibungen des Marktes. Ein Börsenkrach ist immer eine Folge der Spekulation.

Auf lange Sicht haben sich Aktien trotzdem oft als sinnvolle Geldanlage erwiesen. Der Besitzer von Aktien hat Teil am Wert und an den Gewinnen eines Unternehmens und kann damit größere Gewinne erzielen als mit vielen anderen Formen der Geldanlage. Aber auch langfristig wird größerer Gewinn mit größerem Risiko erkauft, je nach Risikostreuung bis hin zum Totalverlust.

Zumindest aber: Wer kurz vor dem Krach Aktien kauft, muss mitunter Jahrzehnte warten, bis die Aktien wieder soviel wert sind, wie er einst dafür bezahlt hat.

Never Change a winning Horse!

Strategie erzeugt Macht und Reichtum aber oftmals geistige Armut!

 

das bringt mehr Kohle.  

Never Change a winning Horse!

Strategie erzeugt Macht und Reichtum aber oftmals geistige Armut!

 

 

wie funktioniert das mit dem Löschen? pornstar  22.09.06 21:30
Alles was ich hier poste, ist eine Satire.
Nichts ist wahr, Alles ist nur eine Geschichte.
Ähnlichkeit mit lebenden oder verstorbenen Personen sind rein zufällig.
Ähnlichkeit mit Tatsachen sind reiner Zufall.
Charts oder andere Meinungen sind keine Kaufempfehlungen.
Alles was ich hier schreibe sind reine Fiktionen.
Ein Bezug aus dieser virtuellen Welt zur realen Welt ist rein zufällig, nie intendiert und unterliegt der Täuschung des Lesers.                                                                                                                                                          Beitragsbewertung (Hilfe)

                             interessant     uninteressant     witzig     gut analysiert     informativ                                                

                                                                                                                     bewerteninteressant witzig gut analysiert informativ uninteressant

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ID markieren, ignorieren

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Regelverstoß melden
4   4. Das mit dem Löschen erklär ich dir gerne lumpensammler  22.09.06 21:58
1. Grundvoraussetzung:
a: Abitur, gerne auch Flachabitur
b: Allgemeinwissennivau: mind. Bildzeitung, in Ausnahmefällen auch men's health
c: Studium der Moderatorwissenschaft mit Schwerpunkt Schlaumeierei
d: Bewerbung bei ariva mit beigelegtem 100 € Schein zum Qualifikationsnachweis
e: Verleihung der Moderatorenwürde samt Bundesnachrichtenkreuz

2. Die Jagd
a: Schaue ab und zu mal bei ariva vorbei und schreibe wahllos unverständliches Zeug
b: Falls dir dabei eine ID nicht in den Kram passt, starte Namensrecherche
c: Nachdem du durch diverse viralblogworms die ID entschlüsslt hast, Anfrage beim BND und lokalen Puff sowie beim Priester (falls kath.) des Opfers nach Schwächen, Vorlieben und sonstigem Schweinkram
d: Erstelle Täterprofil und sende es an die Ehefrau und die lokalen Polizeibehörden zur weiteren Überwachung
e: Prüfe den Zahlungseingang vom Innenministerium

3. Die Sperrung
a: Such dir ein selten dämliches posting des Opfers
b: Klick auf den Link "Moderieren"
c: Anschließend im Moderatorenfenster nur noch bestätigen und fertig

Noch Fragen?  Bisherige Bewertungen:
4x witzig (nicht witzig)

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   5. Kriegst du dafür Geld ? pornstar  22.09.06 22:00




________
Alles was ich hier poste, ist eine Satire.
Nichts ist wahr, Alles ist nur eine Geschichte.
Ähnlichkeit mit lebenden oder verstorbenen Personen sind rein zufällig.
Ähnlichkeit mit Tatsachen sind reiner Zufall.
Charts oder andere Meinungen sind keine Kaufempfehlungen.
Alles was ich hier schreibe sind reine Fiktionen.
Ein Bezug aus dieser virtuellen Welt zur realen Welt ist rein zufällig, nie intendiert und unterliegt der Täuschung des Lesers.                                                                                                                                                          Beitragsbewertung (Hilfe)

                             interessant     uninteressant     witzig     gut analysiert     informativ                                                

                                                                                                                     bewerteninteressant witzig gut analysiert informativ uninteressant

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   6. 25 € pro Moderation lumpensammler  22.09.06 22:02
wenig genig für einen Unterqualifizierten, wie ich finde.  Sie nehmen noch nicht an einem Börsenspiel teil!

Steigen Sie jetzt ein!

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   7. 25 bucks, für wieviel Minuten ? pornstar  22.09.06 22:03




________
Alles was ich hier poste, ist eine Satire.
Nichts ist wahr, Alles ist nur eine Geschichte.
Ähnlichkeit mit lebenden oder verstorbenen Personen sind rein zufällig.
Ähnlichkeit mit Tatsachen sind reiner Zufall.
Charts oder andere Meinungen sind keine Kaufempfehlungen.
Alles was ich hier schreibe sind reine Fiktionen.
Ein Bezug aus dieser virtuellen Welt zur realen Welt ist rein zufällig, nie intendiert und unterliegt der Täuschung des Lesers.                                                                                                                                                          Beitragsbewertung (Hilfe)

                             interessant     uninteressant     witzig     gut analysiert     informativ                                                

                                                                                                                     bewerteninteressant witzig gut analysiert informativ uninteressant

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ID markieren, ignorieren

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2   8. Manchmal dauerts noch nicht mal ne Minute lumpensammler  22.09.06 22:06
Mein Rekord liegt bei 623 Moderationen am Tag,

Konsequenzen dieses Tages, u.a.:
126 gesperrte ID's
14 ID-Selbstsperrungen
11 verprügelte Ehemänner
3 polizeiliche Verhaftungen
2 Ausweisungen
1 Abschiebung zu Wallstreet Online  Bisherige Bewertungen:
2x witzig (nicht witzig)

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König & Bauer kaufen.

Never Change a winning Horse!

Strategie erzeugt Macht und Reichtum aber oftmals geistige Armut!

 

dann bin ich ja heil froh das ich meine ID Moya schon selbst gesperrt habe.

Und diese wird es auch nicht mehr lange tun.

 

Was anderes bleibt uns ohnehin nicht übrig.
Ich gehe davon aus dass ein Krasch entweder
- eintrifft wenn kaum jemand daran glaubt (das ist z.Z. keineswegs der Fall)  
- oder er völlig anders verläuft als alle ihn erwarten (z.B. durch eine finale sinnflutartige Geldmengenausweitung bis hin zur Hyperinflation)

Wie immer es kommen wird, die Pläne dafür liegen ebenfalls bereits in der Schublade und wir werden weder etwas daran ändern, noch etwas daran verdienen können.
Teilweise dagegen schützen können wir uns allerdings.

Ich empfehle mich

 

Wenn du dich das nächste mal sperren willst, dann sags mir vorher, die 25 Flocken können wir uns teilen.

A propos Müll: Bei dem Gestammle hier fällt das doch gar nicht weiter auf.  

Never Change a winning Horse!

Strategie erzeugt Macht und Reichtum aber oftmals geistige Armut!

 

 

Lumpensammler wenn das war ist, kannste mich sofort einsperren.

 

Den virtuellen Schwachsinn solltet ihr nicht zu ernst nehmen sonst schlägt er aufs Gemüt. Ganz nüchtern betrachten und dickes Fell zulegen.
Meine gestrige Frage war berechtigt da ich eine Ahnung habe von gewissen Praktiken. Schließlich geht es in Börsenforen in erster Linie um Gewinnoptimierung von Banken und wenn ihr eine Ahnung hättet was die sich im Hinterstübchen dazu einfallen lassen würdet ihr mit euren Ohren schlackern.
Falls ich mich geirrt haben sollte obwohl ich nur gefragt habe entschuldige ich mich hiermit herzlichst auf virteuellen Weg.
Die Wahrheit werden wir wohl nie erfahren da sie das bestgehüteste Geheimnis bleibt.
Das schöne am Internetz ist schließlich das keiner einem anderen irgend etwas schuldig wird.  

 

Schließlich geht es in Börsenforen in erster Linie um Gewinnoptimierung von Banken und wenn ihr eine Ahnung hättet was die sich im Hinterstübchen dazu einfallen lassen würdet ihr mit euren Ohren schlackern.

Never Change a winning Horse!

Strategie erzeugt Macht und Reichtum aber oftmals geistige Armut!

 

seht selbst
 

"Wer micht nicht sieht verliert sein Hab und Gut, wer mich erkennt den mach ich Reich und schenk ihm Mut."

Ein echter Krasch Faden hat schwarze Sterne soweit die Augen reichen.  

nicht nachmachen.

Never Change a winning Horse!

Strategie erzeugt Macht und Reichtum aber oftmals geistige Armut!

 

Also ich habe mir das nochmal genau angeschaut und glaube eher das der Dow Jones vor einem gewaltigen Kursanstieg steht der in ungeahnte Höhen führen wird.
Das langfristige Kursziel nenne ich nicht da es ohnehin kaum jemand ernst nehmen würde.
Vom Gegenteil lasse ich mich erst überzeugen wenn der Dow Jones unter 11500 und später unter 11000 fällt.

 

Never Change a winning Horse!

Strategie erzeugt Macht und Reichtum aber oftmals geistige Armut!

 

Downtrigger 11780
Uptrigger 11830

Never Change a winning Horse!

Strategie erzeugt Macht und Reichtum aber oftmals geistige Armut!

 

Never Change a winning Horse!

Strategie erzeugt Macht und Reichtum aber oftmals geistige Armut!

 

Press Release Source: Alcoa


Alcoa Announces 3rd Quarter 2006 Income from Continuing Operations of $540 Million, or $0.62 Per Share, up 89% from Year Ago
Tuesday October 10, 4:08 pm ET  
Highlights:
-- Income from continuing operations up 89% versus year-ago quarter.
-- Revenues 19% higher than year-ago quarter.
-- Cash from operations was $748 million including the impact of a discretionary $200 million pension contribution, 52% higher than the year-ago quarter and 94% higher year-to-date.
-- Debt-to-capital ratio at 32.8%, within target range despite major investments in strategic growth projects.
-- Year-to-date income from continuing operations $1.9 billion, or $2.17 per share, up 82% from year ago.
-- Year-to-date annualized return on capital of 14.3%, up from 8.7% in 2005.


NEW YORK--(BUSINESS WIRE)--Alcoa (NYSE:AA - News) today announced third quarter 2006 income from continuing operations of $540 million, or $0.62 per diluted share, an 89 percent increase from the third quarter of 2005. As expected, due to seasonal slow-downs and lower metal prices, income was lower on a sequential basis, down from $0.85 in the second quarter.
ADVERTISEMENT


In the first nine months of 2006, Alcoa has generated more profits than in any full year in the company's history. Year-to-date income from continuing operations was $1.9 billion, 82 percent higher than the same period in 2005.

Net income for the quarter was $537 million, or $0.61, an 85 percent increase from 2005's $0.33 and 28 percent below the $0.85 in the second quarter.

Revenues for the quarter increased 19 percent from a year ago to $7.6 billion. Compared to the second quarter of 2006, sales decreased 2 percent primarily due to lower metal prices and seasonality. Prices for aluminum on the London Metal Exchange declined six percent this quarter.

"We continue to drive stronger performance than our results in 2005, with both the top and bottom line showing double-digit improvements over the third quarter of last year," said Alain Belda, Alcoa Chairman and CEO. "2006 is already the strongest in Alcoa's history, and we will continue to deliver in the fourth quarter.

"In July, we said the third quarter would be solid, but would reflect the traditional seasonal slow-down and lower metal prices. In fact, the quarter was the third best in company history even though metal prices on the LME declined six percent. While the North American automotive and the housing construction markets are softening, most of our downstream markets continue to be strong - especially aerospace and commercial transportation," Belda added.

Cash from operations for the quarter was $748 million including the impact of a discretionary $200 million contribution to the company's pension plans. Year-to-date, cash from operations is more than $1.2 billion, a 94 percent increase from a year ago.

Balance Sheet and Growth Projects

During the quarter, the company made strong progress on projects designed to seize growth as aluminum consumption is projected to double in the next 14 years. The Alcoa Fjardaal smelter in Iceland is now 75 percent complete and is expected to produce its first metal in the second quarter of 2007. In Brazil, the new Juruti bauxite mine and the expansion of the Sao Luis alumina refinery are underway. The refinery will produce an additional 2.1 million mtpy beginning in 2009. In North America, work continued on environmental upgrades at the company's Warrick, Indiana smelter which will help secure its power generation self-sufficiency. At the Intalco smelter in Ferndale, Wash,, the company will be starting up a second potline which will produce an additional 7,500 metric tons per month beginning in the first half of 2007.

Capital expenditures for the quarter were $737 million, with 75 percent dedicated to growth projects. Year to-date, the company has invested $1.4 billion in growth projects, or approximately 67 percent of capital expenditures.

In the quarter, Alcoa also announced a definitive agreement to sell its Home Exteriors vinyl siding business. That sale, which will generate more than $300 million in cash to fund growth projects, is expected to be completed in the fourth quarter of 2006.

Days of working capital were relatively flat in the quarter compared to the third quarter of 2005. The Company's debt-to-capital ratio stood at 32.8 percent at the end of the quarter, within the Company's target range.

During the current quarter, the company's effective tax rate was 24.7 percent. In the quarter, the Company recorded a discrete tax benefit of $18 million related to the cumulative correction of its deferred tax assets attributable to an international location.

The Company's year to date annualized return on capital was 14.3 percent, compared to 8.7 percent a year ago. On a trailing four quarters basis, return on capital for the third quarter 2006 was 14.1 percent after excluding investments on growth, and 12.2 percent including those investments.

Segment and Other Results

Alumina - After-tax operating income ("ATOI") was $271 million, down $7 million from the previous quarter, but up 74 percent from the year-ago quarter. Unfavorable currency effects, energy prices, and mix offset higher sales volumes supported by record production levels of 3,890 KMT in the quarter.

Primary Metals - Segment ATOI was $346 million, down $143 million or 29 percent from the prior quarter and up 106 percent from the year-ago quarter. The ATOI decrease resulted from lower LME prices, higher raw material costs and unfavorable currency. Third-party realized metal prices declined $108 per ton, or four percent, to $2,620 per ton. The Company purchased roughly 130 kmt of primary metal for internal use as part of its strategy to sell value-added products.

Flat-Rolled Products - ATOI for the segment was $48 million, down 39 percent from the prior quarter and down 41 percent from the year-ago quarter. The decline was primarily due to seasonal shutdowns and mill outages in North America and Europe, and an increase in direct material and energy costs. These impacts were somewhat offset by a more favorable product mix. Included in the results were $13 million in continuing start-up costs for new facilities in Russia and China as part of the long-term growth strategy.

Extruded and End Products - ATOI declined $1 million from the prior quarter due to seasonally lower volumes, offset by a more favorable mix. Segment ATOI remained flat in comparison to the prior year quarter.

Engineered Solutions - Segment ATOI declined $25 million from the prior quarter due to scheduled summer shutdowns in the auto industry coupled with lower demand in the North American automotive market. However, ATOI rose $41 million, or 121 percent, above the prior year quarter. Strong demand in the aerospace and commercial vehicle markets, continued productivity gains and targeted price increases led to the improved results.

Packaging and Consumer - Segment ATOI was lower by $13 million versus the previous quarter and $4 million from the year-ago quarter primarily due to seasonal weakness in Food Packaging and Closures and higher resin costs, partially offset by continued strength in the Consumer business. It is anticipated that the lagged recovery of the third quarter raw material cost increases will benefit the fourth quarter.

Alcoa will hold its quarterly conference call at 5:00 PM Eastern Time on October 10th to present the quarter's results. The meeting will be webcast via alcoa.com. Call information and related details are available at www.alcoa.com under "Invest."

About Alcoa

Alcoa is the world's leading producer and manager of primary aluminum, fabricated aluminum and alumina facilities, and is active in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers. In addition to aluminum products and components, Alcoa also markets consumer brands including Reynolds Wrap® foils and plastic wraps, Alcoa® wheels, and Baco® household wraps. Among its other businesses are closures, fastening systems, precision castings, and electrical distribution systems for cars and trucks. The company has 129,000 employees in 44 countries and has been named one of the top sustainable corporations in the world at the World Economic Forum in Davos, Switzerland. More information can be found at www.alcoa.com

Forward Looking Statement

Certain statements in this release relate to future events and expectations and as such constitute forward-looking statements involving known and unknown risks and uncertainties that may cause actual results, performance or achievements of Alcoa to be different from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include: (a) material adverse changes in economic or aluminum industry conditions generally, including global supply and demand conditions and prices for primary aluminum, alumina and other products; (b) material adverse changes in the markets served by Alcoa, including the transportation, building, construction, distribution, packaging, industrial gas turbine and other markets; (c) Alcoa's inability to mitigate impacts from increased energy and raw materials costs, or other cost inflation; (d) Alcoa's inability to achieve the level of cost savings, productivity improvements or earnings or revenue growth anticipated by management; (e) Alcoa's inability to complete its growth projects and integration of acquired facilities as planned and by targeted completion dates; (f) unfavorable changes in laws, governmental regulations or policies, currency exchange rates or competitive factors in the countries in which Alcoa operates; (g) significant legal proceedings or investigations adverse to Alcoa, including environmental, product liability, safety and health and other claims; and (h) the other risk factors summarized in Alcoa's Form 10-K for the year ended December 31, 2005, Forms 10-Q for the quarters ended March 31, 2006 and June 30, 2006 and other reports filed with the Securities and Exchange Commission.

Alcoa and subsidiaries
Condensed Statement of Consolidated Income (unaudited)
(in millions, except per-share, share, and metric ton amounts)

                                          Quarter ended
                             September 30,   June 30,   September 30,
                               2005 (a)      2006 (a)       2006
                             ------------- ------------ -------------
Sales                               $6,401       $7,797        $7,631

Cost of goods sold                   5,263        5,827         6,015
Selling, general
administrative, and other
expenses                              304          354           326
Research and development
expenses                               51           50            53
Provision for depreciation,
depletion, and amortization           319          324           325
Restructuring and other
charges                                 7           (9)           (3)
Interest expense                        96           98           101
Other income, net                      (92)         (61)          (48)
                             ------------- ------------ -------------
   Total costs and expenses         5,948        6,583         6,769

Income from continuing
operations before taxes on
income                                453        1,214           862
Provision for taxes on income          109          341           213
                             ------------- ------------ -------------
Income from continuing
operations before minority
interests' share                      344          873           649
Less: Minority interests'
share                                  59          124           109
                             ------------- ------------ -------------

Income from continuing
operations                            285          749           540

Income (loss) from
discontinued operations                 4           (5)           (3)
                             ------------- ------------ -------------

NET INCOME                            $289         $744          $537
                             ============= ============ =============

Earnings (loss) per common
share:
  Basic:
    Income from continuing
     operations                      $.33         $.86          $.62
    Loss from discontinued
     operations                         -         (.01)            -
                             ------------- ------------ -------------
       Net income                    $.33         $.85          $.62
                             ============= ============ =============

  Diluted:
    Income from continuing
     operations                      $.32         $.85          $.62
    Income (loss) from
     discontinued operations          .01            -          (.01)
                             ------------- ------------ -------------
       Net income                    $.33         $.85          $.61
                             ============= ============ =============

  Average number of shares
   used to compute:
    Basic earnings per common
     share                    872,515,797  869,811,164   867,589,707
    Diluted earnings per
     common share             876,583,063  877,005,617   873,494,404

Shipments of aluminum products
(metric tons)                   1,412,000    1,400,000     1,396,000


(a) Prior periods' financial statements have been reclassified to
reflect the Hawesville, KY automotive casting facility and the home
exteriors business in discontinued operations in 2006.

Alcoa and subsidiaries
Condensed Statement of Consolidated Income (unaudited)
(in millions, except per-share, share, and metric ton amounts)

                                                Nine months ended
                                                  September 30,
                                            -------------------------
                                              2005 (a)      2006
                                            ------------ ------------
Sales                                            $19,032      $22,539

Cost of goods sold                                15,366       17,186
Selling, general administrative, and other
expenses                                            947        1,035
Research and development expenses                    143          150
Provision for depreciation, depletion, and
amortization                                        941          955
Restructuring and other charges                      266          (11)
Interest expense                                     261          291
Other income, net                                   (475)        (144)
                                            ------------ ------------
     Total costs and expenses                    17,449       19,462

Income from continuing operations before
taxes on income                                   1,583        3,077
Provision for taxes on income                        360          836
                                            ------------ ------------
Income from continuing operations before
minority interests' share                         1,223        2,241
Less: Minority interests' share                      179          338
                                            ------------ ------------

Income from continuing operations                  1,044        1,903

Loss from discontinued operations                    (35)         (14)
                                            ------------ ------------

NET INCOME                                        $1,009       $1,889
                                            ============ ============

Earnings (loss) per common share:
  Basic:
    Income from continuing operations             $1.20        $2.19
    Loss from discontinued operations              (.04)        (.02)
                                            ------------ ------------
       Net income                                 $1.16        $2.17
                                            ============ ============

  Diluted:
    Income from continuing operations             $1.19        $2.17
    Loss from discontinued operations              (.04)        (.01)
                                            ------------ ------------
       Net income                                 $1.15        $2.16
                                            ============ ============

  Average number of shares used to compute:
    Basic earnings per common share         872,054,221  869,241,174
    Diluted earnings per common share       877,743,271  875,472,002

Common stock outstanding at the end of the
period                                      872,706,561  867,077,839

Shipments of aluminum products (metric tons)   4,080,000    4,146,000

(a) Prior period financial statements have been reclassified to
reflect the Hawesville, KY automotive casting facility and the home
exteriors business in discontinued operations in 2006.

Alcoa and subsidiaries
Condensed Consolidated Balance Sheet (unaudited)
(in millions)

                                          December 31,  September 30,
                                            2005 (b)        2006
                                          ------------- -------------
ASSETS
Current assets:
 Cash and cash equivalents                        $762          $562
 Receivables from customers, less
  allowances:
  $75 in 2005 and $84 in 2006                    2,860         3,523
 Other receivables                                 427           337
 Inventories                                     3,392         4,064
 Fair value of derivative contracts                520           241
 Prepaid expenses and other current assets         713         1,043
                                          ------------- -------------
    Total current assets                         8,674         9,770
                                          ------------- -------------

Properties, plants and equipment, at cost        26,769        29,025
Less: accumulated depreciation, depletion
and amortization                                13,661        14,544
                                          ------------- -------------
Net properties, plants and equipment            13,108        14,481
                                          ------------- -------------
Goodwill                                          6,212         6,286
Investments                                       1,370         1,379
Other assets                                      4,084         4,145
Assets held for sale                                248           243
                                          ------------- -------------
    Total assets                               $33,696       $36,304
                                          ============= =============

LIABILITIES
Current liabilities:
 Short-term borrowings                            $300          $441
 Commercial paper                                  912         2,193
 Accounts payable, trade                         2,570         2,700
 Accrued compensation and retirement costs       1,096         1,040
 Taxes, including taxes on income                  871         1,019
 Other current liabilities                       1,445         1,166
 Long-term debt due within one year                 58           855
                                          ------------- -------------
    Total current liabilities                    7,252         9,414
                                          ------------- -------------
Long-term debt, less amount due within one
year                                             5,279         4,446
Accrued pension benefits                          1,477         1,248
Accrued postretirement benefits                   2,105         2,082
Other noncurrent liabilities and deferred
credits                                          1,821         1,931
Deferred income taxes                               875           795
Liabilities of operations held for sale             149           154
                                          ------------- -------------
    Total liabilities                           18,958        20,070
                                          ------------- -------------

MINORITY INTERESTS                                1,365         1,529
                                          ------------- -------------

SHAREHOLDERS' EQUITY
Preferred stock                                      55            55
Common stock                                        925           925
Additional capital                                5,720         5,811
Retained earnings                                 9,345        10,706
Treasury stock, at cost                          (1,899)       (2,022)
Accumulated other comprehensive loss               (773)         (770)
                                          ------------- -------------
    Total shareholders' equity                  13,373        14,705
                                          ------------- -------------
    Total liabilities and equity               $33,696       $36,304
                                          ============= =============

(b) Prior period financial statements have been reclassified to
reflect the Hawesville, KY automotive casting facility and the home
exteriors business in discontinued operations in 2006.

Alcoa and subsidiaries
Condensed Statement of Consolidated Cash Flows (unaudited)
(in millions)

                                                  Nine months ended
                                                    September 30,
                                                 --------------------
                                                  2005 (c)    2006
                                                 ---------- ---------
CASH FROM OPERATIONS
Net income                                           $1,009    $1,889
Adjustments to reconcile net income to cash from
operations:
  Depreciation, depletion, and amortization            944       955
  Deferred income taxes                               (116)      (78)
  Equity loss (income), net of dividends                48       (65)
  Restructuring and other charges                      266       (11)
  Gains from investing activities - sale of
   assets                                             (409)      (11)
  Provision for doubtful accounts                       13        16
  Loss from discontinued operations                     35        14
  Minority interests                                   179       338
  Stock-based compensation                              18        57
  Excess tax benefits from share-based payment
   arrangements                                          -       (16)
  Other                                                (28)     (128)
Changes in assets and liabilities, excluding
effects of acquisitions and divestitures:
  Increase in receivables                             (531)     (402)
  Increase in inventories                             (491)     (565)
  Increase in prepaid expenses and other current
   assets                                              (26)     (201)
  Increase (decrease) in accounts payable and
   accrued expenses                                    277      (404)
  (Decrease) increase in taxes, including taxes
   on income                                           (68)      202
  Cash paid on long-term aluminum supply contract      (93)        -
  Pension contributions                               (364)     (344)
  Net change in noncurrent assets and liabilities       17       (12)
                                                 ---------- ---------
     CASH PROVIDED FROM CONTINUING OPERATIONS          680     1,234
     CASH USED FOR DISCONTINUED OPERATIONS             (43)        -
                                                 ---------- ---------
     CASH PROVIDED FROM OPERATIONS                     637     1,234
                                                 ---------- ---------

FINANCING ACTIVITIES
Net changes to short-term borrowings                      4        86
Common stock issued for stock compensation plans         27       141
Repurchase of common stock                                -      (290)
Dividends paid to shareholders                         (393)     (392)
Dividends paid to minority interests                    (74)     (281)
Net change in commercial paper                          532     1,281
Additions to long-term debt                             272        20
Payments on long-term debt                             (249)      (32)
Excess tax benefits from share-based payment
arrangements                                             -        16
Other                                                     -        64
                                                 ---------- ---------
     CASH PROVIDED FROM FINANCING ACTIVITIES           119       613
                                                 ---------- ---------

INVESTING ACTIVITIES
Capital expenditures                                 (1,365)   (2,054)
Capital expenditures of discontinued operations         (11)       (4)
Acquisition of minority interests                      (176)       (1)
Acquisitions, net of cash acquired                     (257)        8
Proceeds from the sale of assets                         90        19
Sale of investments                                   1,081         7
Change in short-term investments and restricted
cash                                                   (17)       (3)
Additions to investments                                (18)      (52)
Other                                                    (8)        8
                                                 ---------- ---------
     CASH USED FOR INVESTING ACTIVITIES               (681)   (2,072)
                                                 ---------- ---------

     EFFECT OF EXCHANGE RATE CHANGES ON CASH AND
      CASH EQUIVALENTS                                   -        25
                                                 ---------- ---------
Net change in cash and cash equivalents                  75      (200)
Cash and cash equivalents at beginning of year          457       762
                                                 ---------- ---------
     CASH AND CASH EQUIVALENTS AT END OF PERIOD       $532      $562
                                                 ========== =========

(c) Prior period financial statements have been reclassified to
reflect the Hawesville, KY automotive casting facility and the home
exteriors business in discontinued operations in 2006.

Alcoa and subsidiaries
Segment Information (unaudited)
(in millions, except metric ton amounts and realized prices)


                               1Q05    2Q05    3Q05    4Q05     2005
                              ------- ------- ------- ------- -------
Alumina:
Third-party shipments (Kmt)    1,923   1,951   2,017   1,966   7,857
Alumina production (Kmt)       3,583   3,621   3,688   3,706  14,598
Third-party sales               $505    $533    $531    $561  $2,130
Intersegment sales              $393    $439    $424    $451  $1,707
ATOI                            $161    $182    $156    $183    $682
Depreciation, depletion and
 amortization                    $41     $43     $44     $44    $172
Income taxes                     $61     $66     $47     $72    $246
Equity (loss) income             $(1)     $-      $-      $1      $-
==================================================

Primary Metals:
Third-party realized price -
 aluminum                     $2,042  $1,977  $1,963  $2,177  $2,044
Third-party shipments (Kmt)      487     520     590     557   2,154
Aluminum production (Kmt)        851     899     904     900   3,554
Third-party sales             $1,089  $1,124  $1,204  $1,281  $4,698
Intersegment sales            $1,303  $1,215  $1,108  $1,182  $4,808
ATOI                            $225    $187    $168    $242    $822
Depreciation, depletion and
 amortization                    $90     $90     $93     $95    $368
Income taxes                     $92     $75     $50     $90    $307
Equity income (loss)             $18    $(76)    $20     $26    $(12)
==================================================

Flat-Rolled Products:
Third-party shipments (Kmt)      509     560     543     544   2,156
Third-party sales             $1,655  $1,763  $1,679  $1,739  $6,836
Intersegment sales               $34     $36     $29     $29    $128
ATOI                             $75     $70     $81     $62    $288
Depreciation, depletion and
 amortization                    $52     $54     $57     $54    $217
Income taxes                     $24     $27     $30     $30    $111
Equity loss                       $-      $-      $-      $-      $-
==================================================

Extruded and End Products:
Third-party shipments (Kmt)      211     226     212     204     853
Third-party sales               $915    $992    $930    $892  $3,729
Intersegment sales               $14     $19     $14     $17     $64
ATOI                             $11     $14     $16     $(2)    $39
Depreciation, depletion and
 amortization (1)                $29     $30     $30     $30    $119
Income taxes                     $(2)    $13      $7      $2     $20
==================================================

Engineered Solutions:
Third-party shipments (Kmt)       38      37      36      34     145
Third-party sales             $1,237  $1,282  $1,242  $1,271  $5,032
ATOI                             $61     $61     $34     $47    $203
Depreciation, depletion and
 amortization                    $47     $45     $42     $42    $176
Income taxes                     $26     $30     $23     $10     $89
Equity income                     $1      $-      $-      $-      $1
==================================================

Packaging and Consumer:
Third-party shipments (Kmt)       34      46      31      40     151
Third-party sales               $708    $827    $806    $798  $3,139
ATOI                             $16     $41     $28     $20    $105
Depreciation, depletion and
 amortization (1)                $32     $31     $31     $32    $126
Income taxes                     $10     $18     $14      $8     $50
Equity income                     $1      $-      $-      $-      $1
==================================================


                                               1Q06    2Q06    3Q06
                                              ------- ------- -------
Alumina:
Third-party shipments (Kmt)                    2,023   2,108   2,205
Alumina production (Kmt)                       3,702   3,746   3,890
Third-party sales                               $628    $713    $733
Intersegment sales                              $555    $515    $524
ATOI                                            $242    $278    $271
Depreciation, depletion and amortization         $43     $46     $47
Income taxes                                     $93    $112    $108
Equity (loss) income                             $(1)     $-     $(2)
==================================================

Primary Metals:
Third-party realized price - aluminum         $2,534  $2,728  $2,620
Third-party shipments (Kmt)                      488     508     535
Aluminum production (Kmt)                        867     882     895
Third-party sales                             $1,408  $1,589  $1,476
Intersegment sales                            $1,521  $1,696  $1,467
ATOI                                            $445    $489    $346
Depreciation, depletion and amortization         $96    $102    $100
Income taxes                                    $197    $209    $140
Equity income (loss)                             $20     $28     $16
==================================================

Flat-Rolled Products:
Third-party shipments (Kmt)                      562     579     568
Third-party sales                             $1,940  $2,115  $2,115
Intersegment sales                               $49     $66     $65
ATOI                                             $66     $79     $48
Depreciation, depletion and amortization         $50     $57     $57
Income taxes                                     $26     $25     $19
Equity loss                                       $-     $(1)     $-
==================================================

Extruded and End Products:
Third-party shipments (Kmt)                      223     231     220
Third-party sales                             $1,038  $1,165  $1,146
Intersegment sales                               $23     $31     $20
ATOI                                              $-     $17     $16
Depreciation, depletion and amortization (1)     $28     $30     $29
Income taxes                                      $1      $8      $7
==================================================

Engineered Solutions:
Third-party shipments (Kmt)                       37      38      34
Third-party sales                             $1,360  $1,405  $1,345
ATOI                                             $83    $100     $75
Depreciation, depletion and amortization         $40     $42     $43
Income taxes                                     $37     $44     $35
Equity income                                     $-      $-      $1
==================================================

Packaging and Consumer:
Third-party shipments (Kmt)                       40      44      39
Third-party sales                               $749    $834    $815
ATOI                                              $8     $37     $24
Depreciation, depletion and amortization (1)     $31     $31     $30
Income taxes                                      $5      $9      $8
Equity income                                     $-      $-      $-
==================================================

(1) Segment depreciation, depletion and amortization has been adjusted
from the previously reported annual amounts to reflect the movement
of certain amounts to Corporate.

Alcoa and subsidiaries
Segment Information (unaudited), continued
(in millions)


Reconciliation of ATOI to consolidated
net income:                           1Q05  2Q05  3Q05  4Q05   2005
                                      ----- ----- ----- ----- -------
  Total ATOI                          $549  $555  $483  $552  $2,139
  Unallocated amounts (net of tax):
     Impact of LIFO (2)                (19)   (2)  (22)  (56)    (99)
     Interest income                     7     9    12    14      42
     Interest expense                  (51)  (56)  (62)  (51)   (220)
     Minority interests                (60)  (60)  (59)  (80)   (259)
     Corporate expense                 (69)  (73)  (82)  (88)   (312)
     Restructuring and other charges   (30) (144)   (5)  (18)   (197)
     Discontinued operations            (9)  (30)    4    13     (22)
     Other (2)                         (58)  261    20   (62)    161
--------------------------------------------------
  Consolidated net income             $260  $460  $289  $224  $1,233
==================================================


Reconciliation of ATOI to consolidated net income: 1Q06   2Q06   3Q06
                                                  ----- ------- -----
  Total ATOI                                      $844  $1,000  $780
  Unallocated amounts (net of tax):
     Impact of LIFO (2)                            (36)    (49)  (19)
     Interest income                                11      10    23
     Interest expense                              (60)    (63)  (66)
     Minority interests                           (105)   (124) (109)
     Corporate expense                             (89)    (82)  (64)
     Restructuring and other charges                (1)      6     2
     Discontinued operations                        (6)     (5)   (3)
     Other (2)                                      50      51    (7)
--------------------------------------------------
  Consolidated net income                         $608    $744  $537
==================================================

(2)  Certain amounts have been reclassified to Other so that this line
reflects only the impact of LIFO.

Prior periods' segment information has been reclassified to reflect
the movement of the Hawesville, KY automotive casting facility and the
home exteriors business to discontinued operations in 2006.

The difference between total segment third-party sales and
consolidated third-party sales is in Corporate.

Alcoa and subsidiaries
Calculation of Financial Measures (unaudited)
(in millions)

         2006 Return on Capital            2006 Return on Capital,
                                         Excluding Growth Investments
            Bloomberg (1) Annualized (2)
            ------------- --------------

Net income        $2,113         $2,519  Net income           $2,113

Minority                                 Minority
 interests           418            451   interests              418

Interest                                 Interest
 expense                                  expense
 (after tax)         272            283   (after tax)            272
            ------------- --------------              ---------------

Numerator                                Numerator
 (sum total)      $2,803         $3,253   (sum total)         $2,803
            ------------- --------------

                                         Russia and
                                          Bohai net
                                          loss                    85
                                                      ---------------

                                         Adjusted net
                                          income              $2,888
                                                      ---------------

Average                                  Average
 Balances                                 Balances (1)

Short-term                               Short-term
 borrowings         $356           $371   borrowings            $356
Short-term                               Short-term
 debt                451            457   debt                   451
Commercial                               Commercial
 paper             1,678          1,553   paper                1,678
Long-term                                Long-term
 debt              4,916          4,863   debt                 4,916
Preferred                                Preferred
 stock                55             55   stock                   55
Minority                                 Minority
 interests         1,416          1,447   interests            1,416
Common                                   Common
 equity (3)       14,120         13,984   equity (3)          14,120
            ------------- --------------              ---------------

Denominator                              Denominator
 (sum total)     $22,992        $22,730   (sum total)        $22,992
            ------------- --------------

                                         Capital
                                          projects in
                                          progress and
                                          Russia and
                                          Bohai
                                          capital base        (2,540)
                                                      ---------------

                                         Adjusted
                                          capital base       $20,452
                                                      ---------------

                                         Return on
                                          capital,
                                          excluding
Return on                                 growth
 capital            12.2%          14.3%  investments           14.1%

Return on capital, excluding growth investments is a non-GAAP
financial measure.  Management believes that this measure is
meaningful to investors because it provides greater insight with
respect to the underlying operating performance of the company's
productive assets.  The company has significant growth investments
underway in its upstream and downstream businesses, as previously
noted, with expected completion dates over the next several years.
As these investments generally require a period of time before they
are productive, management believes that a return on capital measure
excluding these growth investments is more representative of current
operating performance.

(1) The Bloomberg Methodology calculates ROC based on trailing four
   quarters.  Average balances are calculated as (September 2005
   ending balance + September 2006 ending balance) divided by 2.
(2) The Annualized Methodology numerator amounts are calculated using
   the first nine months of 2006 balances divided by 9 and
   multiplying that result by 12.  Average balances are calculated as
   (September 2006 ending balance + December 2005 ending balance)
   divided by 2.
(3) Calculated as total shareholders' equity, less preferred stock.

Alcoa and subsidiaries
Calculation of Financial Measures (unaudited), continued
(in millions)

        2005 Return on Capital             2005 Return on Capital,
                                         Excluding Growth Investments
           Bloomberg (4)  Annualized (5)
           -------------- --------------

Net income         $1,277         $1,345  Net income           $1,277

Minority                                  Minority
interests            227            239   interests              227

Interest                                  Interest
expense                                   expense
(after tax)          263            269   (after tax)            263
           -------------- --------------               --------------

Numerator                                 Numerator
(sum total)       $1,767         $1,853   (sum total)         $1,767
           -------------- --------------

                                         Russia and
                                          Bohai net
                                          loss                    48
                                                       --------------

                                         Adjusted net
                                          income              $1,815
                                                       --------------

Average                                   Average
Balances                                  Balances (4)

Short-term                                Short-term
borrowings          $154           $269   borrowings            $154
Short-term                                Short-term
debt                 272             52   debt                   272
Commercial                                Commercial
paper                946            896   paper                  946
Long-term                                 Long-term
debt               5,382          5,366   debt                 5,382
Preferred                                 Preferred
stock                 55             55   stock                   55
Minority                                  Minority
interests          1,332          1,359   interests            1,332
Common                                    Common
equity (6)        13,045         13,418   equity (6)          13,045
           -------------- --------------               --------------

Denominator                               Denominator
(sum total)      $21,186        $21,415   (sum total)        $21,186
           -------------- --------------

                                         Capital
                                          projects in
                                          progress and
                                          Russia and
                                          Bohai
                                          capital base        (1,736)
                                                       --------------

                                         Adjusted
                                          capital base       $19,450
                                                       --------------

                                         Return on
                                          capital,
                                          excluding
Return on                                  growth
capital              8.3%           8.7%  investments            9.3%

Return on capital, excluding growth investments is a non-GAAP
financial measure.  Management believes that this measure is
meaningful to investors because it provides greater insight with
respect to the underlying operating performance of the company's
productive assets.  The company has significant growth investments
underway in its upstream and downstream businesses, as previously
noted, with expected completion dates over the next several years.
As these investments generally require a period of time before they
are productive, management believes that a return on capital measure
excluding these growth investments is more representative of current
operating performance.

(4) The Bloomberg Methodology calculates ROC based on trailing four
   quarters.  Average balances are calculated as (September 2004
   ending balance + September 2005 ending balance) divided by 2.
(5) The Annualized Methodology numerator amounts are calculated using
   the first nine months of 2005 balances divided by 9 and
   multiplying that result by 12.  Average balances are calculated as
   (September 2005 ending balance + December 2004 ending balance)
   divided by 2.
(6) Calculated as total shareholders' equity, less preferred stock.

Alcoa and subsidiaries
Calculation of Financial Measures (unaudited), continued
(in millions)

Days of Working Capital                    Quarter ended
                             September 30, December 31, September 30,
                                 2005          2005         2006
                             ------------- ------------ -------------

Receivables from customers,
less allowances                    $2,997       $2,860        $3,523
Add: Inventories                     3,453        3,392         4,064
Less: Accounts payable, trade        2,325        2,570         2,700
                             ------------- ------------ -------------
Working Capital                     $4,125       $3,682        $4,887

Sales                               $6,401       $6,536        $7,631

Days of Working Capital               59.3         51.8          58.9

Days of Working Capital = Working Capital divided by
(Sales/number of days in the quarter)



Contact:
Alcoa
Investor Contact
Tony Thene, 212-836-2674
or
Media Contact
Kevin G. Lowery, 412-553-1424
Mobile 724-422-7844

--------------------------------------------------
Source: Alcoa

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