Arconic stock shoots higher premarket after earnings beat, plan to spin off one of its businesses
Arconic Inc. shares rose 6.6% in premarket trade Friday, after the maker of aluminum products for the aviation and car sectors beat earnings estimates for the fourth quarter and said it will reorganize its portfolio and spin off one of its businesses. The company said it is also planning to conduct a previously approved $500 million share buyback in the first half of 2019 and cut its dividend to 2 cents a share from 6 cents. The company said it had net income of $218 million, or 44 cents a share... Читать дальше...