Connect with us

Market News

ARNC Stocks News: Price Increased By 19.21%

Published

on

Arconic Corporation (NYSE: ARNC)’s closing price as of May 4 was 35.00, which is 5.64(19.21%) more than the previous closing price(May 3) of 29.36. However the pre-market price, as of 7:35AM, May 5 stands at 35.03, 0.03 more than the closing price of May 4.

Arconic Corporation (NYSE: ARNC) announced their-

First Quarter 2021 Highlights

  • Sales of $1.7 billion, up 4% year over year, and up 15% from prior quarter
  • Net income of $52 million, or $0.46 per share, compared with $46 million, or $0.42 per share, in first quarter 2020
  • Adjusted EBITDA of $179 million, down 12% year over year, up 19% from prior quarter, and Adjusted EBITDA margin of 10.7%
  • Significant contract wins:
    • Secured long-term contracts representing more than $2 billion in aerospace revenue
    • Negotiated agreements representing approximately $1.5 billion in North American packaging revenue from 2022-2024

Post-Quarter Highlights

  • Completed $1 billion U.S. pension partial annuitization
  • Board authorized $300 million share repurchase program

Arconic Corporation (NYSE: ARNC) (“Arconic” or “the Company”) today reported first quarter 2021 results. Revenue was $1.7 billion, up 15% from the prior quarter primarily because of higher aluminum prices. Net income was $52 million, or $0.46 per share, compared with $46 million, or $0.42 per share, in first quarter 2020.

First quarter 2021 Adjusted EBITDA was $179 million and Adjusted EBITDA margin was 10.7%. Adjusted EBITDA declined 12% year over year, but increased $28 million, or 19%, sequentially primarily because of strong operating performance and continued growth in international packaging volumes and strength in industrial markets. Cash used for operations was $294 million, reflecting $200 million of accelerated U.S. pension contributions made in January 2021, and capital expenditures were $28 million. At quarter-end, the cash balance was $763 million with total available liquidity of approximately $1.6 billion, and debt was $1.6 billion.

Tim Myers, Chief Executive Officer, said, “Arconic continued to see increasing customer demand in most of the markets we serve during the first quarter. We captured growth in international packaging due to better than expected regional strength and industrial end markets improved as the trade litigation came to a final positive ruling at the end of March. Ground transportation sales also grew, largely driven by commercial transportation, but were constrained by weather impacts and the semiconductor shortage. Growth in those three end markets and strong operating performance fully offset continued weakness in aerospace sales. Given our strong first quarter performance and improved outlook in both the industrial and packaging markets, we are increasing our full year 2021 revenue and Adjusted EBITDA outlook.”

Mr. Myers continued, “With the continued reduction of our legacy pension and environmental obligations, and the completion of a $1 billion partial U.S. pension annuitization in April, we believe we are well positioned to focus more fully on future growth opportunities. Our new share repurchase program is recognition of our belief in the long-term prospects of our Company.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Market News

Top 5 Stock Price Gainers of May 17: US Stock Market

Published

on

Consumer Automotive Finance, Inc. (OTCMKTS: NWAU)

Consumer Automotive Finance, Inc. (OTCMKTS: NWAU)’s stock price increased by 22.50%. The closing price as of May 16 was $0.0400, over which, the price increased by $0.0090 on May 17. The closing price as of May 17 stands at $0.0490. The opening price was $0.0625, the range was 0.0400 – 0.0625 and the volume was 199,804. 

 

Apellis Pharmaceuticals, Inc. (NASDAQ: APLS)

The stock price of Apellis Pharmaceuticals, Inc. (NASDAQ: APLS) stands at $53.60 as of May 17. The price shows a growth of $8.80(19.88%) over the previous ( May 16) closing price of $44.26.  The opening price as of May 17 was $49.01; the day’s range was 48.96 – 54.25. The volume was above average, being 6,234,624.

 

Globalstar, Inc. (NYSE: GSAT)

Globalstar, Inc. (NYSE: GSAT)’s closing stock as of May 17 stands at $1.3600. The price shows a growth of $0.2200 (19.30%) over the previous ( May 16) closing price of $1.1400. May 17’s opening price was $1.1000 and the day’s range was 1.1000 – 1.3800. The volume was 24,374,234, slightly above average. 

 

Hecla Mining Company (NYSE: HL)

Hecla Mining Company (NYSE: HL)’s stock price increased by a huge amount of 16.53%. The previous price, i.e, May 16’s price was $7.56. The current price as of May 17, is $8.81 which is $1.25 more than the previous closing price. The opening price of May 17 was $7.73. The price range for the day was 7.65 – 8.88; the volume was 23,888,169.

 

Discovery, Inc. (NASDAQ: DISCB)

$80.18 is the current( as of May 17) stock price of Discovery, Inc. (NASDAQ: DISCB). The price shows a growth of $9.67 (13.71%) over the previous (May 16) closing price of $70.51.  The pre-market price as of  4:04AM EDT, May 18 remains the same as the closing price of May 17, $80.18 .

Continue Reading

Market News

TOP STOCKS GAINERS FOR MAY 12

Published

on

AbCellera Biologics Inc. (NASDAQ: ABCL)

AbCellera Biologics Inc. (NASDAQ: ABCL)’s stock price increased by 8.74% over the previous closing price of $28.25. The price, as of May 12 closing price, is $30.72. The Pre-market price is stagnant as of 4:59 AM EDT, May 13. 

 

UWM Holdings Corporation Class (NYSE: UWMC) 

UWM Holdings Corporation Class (NYSE: UWMC)’s stock price increased by 8.96% on May 12. May 12’s closing price was $0.59 more than the previous ( May 11) closing price of $6.79. The opening price of May 12 was $6.74; the range was 6.70 – 7.61 and the volume was 9,919,270. However, the Pre-market price says a different story. The price has dropped, as of 5:35 AM EDT by 3.12% and currently stands at $7.15.

 

CVR Energy, Inc. (NYSE: CVI)

CVR Energy, Inc. (NYSE: CVI)’ stock price as of May 12 was $22.77, which is $1.79 more than the previous closing price of $20.98. The day’s range was  22.02-23.90 and the volume was 1,595,046. The opening price as of May 12 was $22.96.

 

Intercorp Financial Services Inc. (NYSE: IFS)

Intercorp Financial Services Inc. (NYSE: IFS)’s stock price increased by 11.31%. The closing price as of May 12 was $29.43, which is $2.26(8.32%) more than the previous closing price of $27.17. The volume was 82,164 and the range was 27.16 – 29.86. The opening price of May 12  was $25.14. 

 

Pershing Square Tontine Holdings, Ltd. (NYSE: PSTH)

Pershing Square Tontine Holdings, Ltd. (NYSE: PSTH)’ stock price increased by a good amount of 7.33%. The closing price as of May 12 was $24.38, which is $1.75 more than the previous closing price of  $22.63. The price has dropped as of 5:17 AM EDT, May 13, Pre-market, and stands at $24.22. 

Continue Reading

Market News

TOP STOCK Market Gainers: LTCN, HL, GCPEF, ABEV, RUN

Published

on

Grayscale Litecoin Trust (OTCMKTS: LTCN)

Grayscale Litecoin Trust’s (OTCMKTS: LTCN) closing price as of May 6 was $445.99. The price hike was recorded to be 17.67%, more than the previous closing price of $379.03. The opening price was $396.00, the volume was 45,765 and the range was 379.05 – 452.12 and respectively. 

Hecla Mining Company (NYSE: HL)

Hecla Mining Company’s (NYSE: HL) closing stock price as of May 6 was $7.29. This showed a growth of 16.64% over the previous closing price of $6.25. The opening price was $6.41, with the volume being 24,884,791 and the day’s range being 6.41 – 7.32. 

GCL-Poly Energy Holdings Limited (OTCMKTS: GCPEF)

GCL-Poly Energy Holdings Limited’s (OTCMKTS: GCPEF) stock price increased by 13.33% over the previous( May 5) closing price of $0.2250. The opening price of May 6 was $0.2400. The volume was 196,480 and the day’s range was 0.2300 – 0.2600.

Ambev S.A. (NYSE: ABEV)

Ambev S.A. (NYSE: ABEV) stock price increased to $3.1200(closing price, May 6) from $2.7900(closing price, May 5). The growth percentage was recorded to be 11.83%. The opening price of May 6 was 3.0600, the volume being 62,369,302 and the range being 2.9800 – 3.1200. 

Sunrun Inc. (NASDAQ: RUN)

Sunrun Inc. (NASDAQ: RUN) stock price increased by 11.69% over the previous closing price( May 5) of $41.84. The closing price of May 6 was sighted to be $46.73. The opening price of May 6-  44.80, volume- 15,073,385 and the range- 43.29 – 46.97.

Continue Reading

Trending