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The next test will come quickly. Alcoa, the aluminum company, reports its first-quarter earnings Tuesday, the first of the Dow 30 to weigh in. Two major banks, JPMorgan Chase and Wells Fargo, report Friday. Analysts are expecting quarterly earnings to decline slightly compared with a year earlier. That would break a streak of nine quarters of earnings growth since 2009. Elsewhere Monday, the price of crude oil fell 1.9 percent, and gold and platinum rose a little less than 1 percent. The euro rose to $1.3116 late Monday, up about two-tenths of a penny from Friday. Among other stocks making moves: AOL shot up 43 percent after the company agreed to sell hundreds of patents and patent applications to Microsoft for a little more than $1 billion. The company plans to return some of the cash to shareholders. Avon fell 3.1 percent after the struggling beauty products company named a former executive at Johnson & Johnson, Sherilyn McCoy, to be its CEO. Investors read it as a signal that Avon will fend off acquisition overtures. Sherwin-Williams Co. gained 1 percent after the company raised its forecast for first-quarter profit following a 20 percent surge in sales at its paint stores.
[Associated
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