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METALS
Alcoa cuts U.S. aluminum output
Due to high energy and labor costs, the world's No. 1 aluminum firm will permanently shut two idling plants and trim output at a third. Alcoa sees a Q3 charge of $15 mil-$20 mil. After the closures, the firm will have idled about 11% of its base output of 3.95 mil metric tons per year. Sales and profit growth have slowed the past four quarters. Alcoa rose 4%.
TECHNOLOGY
SAP lands Ford, Caterpillar deal
Europe's No. 1 software maker reached a long-term deal to provide software and services to Ford and Caterpillar. Analysts estimate the deal to be worth over $40 mil, but don't expect an immediate earnings boost. It could open the door to other vehicle makers. Ford and Caterpillar will work with SAP to develop software for their joint system that'll move and track spare parts.
FCC may require digital TV by '06