The first-quarter forecast is for earnings to grow 10.5 percent, although that estimate may drift lower.

Earnings were up 6 percent from the first quarter, making the second quarter of 2000 Alcoa's eighth consecutive quarter of improved earnings,

Right now it's wonderful to celebrate good earnings growth in the first quarter and nice growth in the second quarter, but it's going to get a heck of a lot harder in the third and fourth quarters.

The estimates are for earnings to be down 50 percent in the second quarter, 37 percent in the third quarter, and 12 percent in the fourth.

We grew earnings per diluted share by 85 percent in the first quarter of fiscal 2006, so it represents the most difficult earnings comparison for the coming year.

I am very perplexed by these results. I had expected 50 percent of the 64 retailers that we track would have missed their sales forecasts. But two-third of that universe have beat so far.