Arconic CEO Klaus Kleinfeld steps down

Posted April 18, 2017

On its website, Arconic defended Kleinfeld, noting he presided a year ago over the change that divided Alcoa, the aluminum producer based in NY, from Arconic, the product manufacturer that makes aluminum, titanium and nickel parts for planes, cars and electronics.

ACHES AND PAINS: Eli Lilly and Incyte stumbled after the Food and Drug Administration refused to approve their much-anticipated pill for the immune disorder rheumatoid arthritis.

The company in a news release said Klaus Kleinfeld resigned after sending a letter directly to a senior office of Elliot Management, Arconic's largest shareholder. Straight Path said it was contacted by another company Thursday, and that company may make an offer to compete with AT&T's. Banks traded higher despite the decline in bond yields and interest rates.

If we look at stock performance in last active day trading, we see that stock has moved shed -0.26% to end the day at $129.05.

Lilly has high hopes for Olumiant because it's a pill instead of an injection like most other new rheumatoid arthritis drugs. Investors are now valuing the company at $1.39 billion. Lilly lost $3.23, or 3.8 percent, to $82.65. The official full-year economic growth target for 2017 is 6.5 percent.

US general confident North Korean missile can be intercepted
Following North Korea's test of four missiles last month, Trump affirmed Washington's "ironclad commitment" to Japan and South Korea.

Netflix climbed 3% to 147.25 U.S. dollars (£117) on Monday, but slumped 1.5% in aftermarket trading as it did not gain as many subscribers in the first quarter as investors hoped and its profit guidance also fell short of analyst estimates. Energy companies lagged the rest of the market.

Benchmark US crude lost 53 cents, or 1%, to 52.65 US dollars (£41.90) a barrel in NY. Brent crude, used to price global oils, fell 11 cents to $55.78 per barrel in London. The consensus recommendation by Thomson Reuters analysts is Outperform and their mean rating for the stock is 1.72 on scale of 1-5. Heating oil fell 2 cents to $1.63 a gallon.

Alere climbed $6.94, or 16.4 percent, to $49.25.

Gold rose $3.40 to $1,291.90 an ounce.

The dollar fell to 108.59 yen from 109.16 yen. Stock has got OUTPERFORM rating from 1 analyst of Thomson Reuters, 4 analysts given HOLD rating to the stock and 0 given UNDERPERFORM rating.