|Bid||20.00 x 800|
|Ask||20.10 x 1800|
|Day's Range||20.01 - 20.36|
|52 Week Range||15.63 - 30.91|
|Beta (3Y Monthly)||2.57|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 23, 2018 - Jul 27, 2018|
|Forward Dividend & Yield||0.24 (1.22%)|
|1y Target Est||22.88|
Apollo Global Management LLC is nearing a deal to buy aerospace-parts maker Arconic Inc. for more than $10 billion, a transaction that, if successful, promises to ease investor fears over a potential deep freeze in the credit markets.
NEW YORK, NY / ACCESSWIRE / January 16, 2019 /U.S. markets rose on Tuesday as Netflix helped push the tech sector higher after announcing it would raise the price of its monthly membership. Tech giants ...
are on the move amid word of the company's potential acquisition by private equity giant Apollo Global Management. Arconic, which was up 3.61% Tuesday to close at $20.07, would fetch $21 to $22 a share under the deal, which is expected to be announced this week and involves a 10% premium, The Wall Street Journal reports. Apollo would pay more than $10 billion for Arconic, previously Alcoa before the split up of the aluminum company in 2016, the paper reports.
Private-equity firm Apollo Global Management LLC is nearing a deal to buy Arconic Inc. for more than $10 billion, ending months of negotiation over what would be one of the largest leveraged buyouts in recent years. The Wall Street Journal first reported in July that Apollo and others were interested in an acquisition of Arconic, an aerospace-parts maker that was Alcoa before the aluminum company was split up in 2016. Apollo, before emerging as the front-runner, competed in an auction with other buyout firms including a team of Blackstone Group LP and Carlyle Group LP.
Private equity firm Apollo Global Management LLC is closing in on a deal to buy Arconic Inc., according to a report in the Wall Street Journal. Arconic shares are currently trading at just over $19. The Journal reported that people familiar with the deal said it could close as soon as this week.
The private equity firm would pay between $21 and $22 per share in a deal that would likely be announced this week, the report said, citing people familiar with the matter. Reuters had reported in October that Apollo Global was in advanced negotiations to acquire Arconic. Elliott Management Corp, the activist hedge fund that sits on Arconic board, is working to address potential liabilities weighing on the sale process for the U.S. aluminum products maker, Reuters had reported in November.
Arconic (ARNC) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
# Arconic Inc (Pre-Reincorporation) ### NYSE:ARNC View full report here! ## Summary * Bearish sentiment is low * Economic output in this company's sector is contracting ## Bearish sentiment Short interest | Positive Short interest is low for ARNC with fewer than 5% of shares on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. ## Money flow ETF/Index ownership | Neutral ETF activity is neutral. The net inflows of $9.59 billion over the last one-month into ETFs that hold ARNC are not among the highest of the last year and have been slowing. ## Economic sentiment PMI by IHS Markit | Negative According to the latest IHS Markit Purchasing Managersâ€™ Index (PMI) data, output in the Basic Materialsis falling. The rate of decline is significant relative to the trend shown over the past year. ## Credit worthiness Credit default swap CDS data is not available for this security. Please send all inquiries related to the report to firstname.lastname@example.org. Charts and report PDFs will only be available for 30 days after publishing. This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Shares of Arconic Inc. slid 1.0% in morning trade Monday, after the lightweight metals product company was downgraded by J.P. Morgan analyst Seth Seifman, who cited valuation. Seifman cut his rating to neutral, after being at overweight since July 2017, and trimmed his stock price target to $22 from $24. The stock has run up 20% since it closed at a record low of $16.14 on Dec. 24. Arconic, which was spun out of Alcoa Corp. in 2016, has reportedly been in talks with private-equity firms over a potential potential buyout. "With frequent press reports about negotiations to sell Arconic to Apollo, the return construct here seems straightforward," Seifman wrote in a note to clients. "The latest press reports...suggest a deal at $22/share, with an announcement possible soon, and we see a high likelihood that this occurs." Despite the recent gain, the stock has lost 3.5% over the past three months, while the SPDR Industrial Select Sector ETF has declined 8.6% and the S&P 500 has shed 6.8%.
Apple, following its revised sales forecast, is a stock to watch on Thursday, along with the shares of Arconic, GrubHub, and Sempra Energy.
The deal could be reached by mid-January, and the two companies are negotiating one that would protect Apollo from Arconic's possible liability tied to a deadly apartment fire in London in 2017, according to the report. Elliott Management Corp, the activist hedge fund that sits on Arconic board, is working to address potential liabilities weighing on the sale process for the U.S. aluminum products maker, Reuters had reported in November. Elliott's move comes after Arconic had rejected an acquisition offer of more than $11 billion from Apollo Global Management as inadequate.
After trading lower Thursday morning, stocks battled back to finish higher on the day. They may have to do the same thing tomorrow after Apple reported disappointing guidance after the close.
Arconic Inc. shares rallied 10% Wednesday following a report that Apollo Global Management LLC could announce a deal to buy the aerospace company by mid-January. Arconic shares rallied 10% to close at $18.56 in the regular session and were up 0.8% after hours. Apollo shares gained 1.1% to close at $24.82. On Wednesday, Bloomberg reported that Apollo was in talks to offer $22 a share for Arconic. The idea of a deal, however, is not new as reports of Apollo closing in on an Arconic deal have been circulating since late October.
The private equity firm and aerospace manufacturer are negotiating a transaction that would protect Apollo from Arconic’s possible liability tied to a deadly apartment fire in London in 2017, said the people, who asked to not be identified because the matter isn’t public. Separately, the New York-based hedge fund would roll over its 10.7 percent stake in Arconic as part of the take-private transaction with Apollo, they said. Apollo emerged as the leading bidder for Arconic after trumping an offer from a rival group of private equity investors, people familiar with the matter said in December.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Three takeaways from Longbow Research's survey of tier-three and tier-four aerospace suppliers support the bullish case for Arconic and the specialty materials group as a whole, Olin said in a Thursday upgrade note. Several of the smaller forging respondents indicated they are facing constrained production capacity, Olin said.
Berkshire already had a minority stake in the company prior to the acquisition. Precision Castparts makes industrial products and supplies to sectors including the aerospace and the oil and gas sectors. Meanwhile, the deal was seen as a proxy exposure to the aerospace sector (BA).
If you want to know who really controls Arconic Inc. (NYSE:ARNC), then you'll have to look at the makeup of its share registry. Institutions will often hold stock in bigger Read More...
Is Arconic Inc. (NYSE:ARNC) a good equity to bet on right now? We like to check what the smart money thinks first before doing extensive research. Although there have been several high profile failed hedge fund picks, the consensus picks among hedge fund investors have historically outperformed the market after adjusting for known risk attributes. […]
The Board of Directors of Arconic today declared a dividend of 93.75 cents per share on Arconic’s $3.75 Cumulative Preferred Stock , payable on January 1, 2019, to the holders of record of the Class A Stock at the close of business on December 14, 2018.