|Bid||13.53 x 800|
|Ask||13.54 x 800|
|Day's Range||13.10 - 13.76|
|52 Week Range||9.87 - 31.40|
|Beta (5Y Monthly)||1.60|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 31, 2020 - Aug 04, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Feb 06, 2020|
|1y Target Est||18.99|
Howmet Aerospace Inc. (NYSE: HWM) ("Howmet Aerospace" or the "Company") announced today the expiration and final tender results of its previously announced tender offers in respect of its 5.40% Notes due 2021 (the "2021 Notes") and its 5.87% Notes due 2022 (the "2022 Notes").
Howmet Aerospace Inc. (NYSE:HWM) ("Howmet Aerospace" or the "Company") announced today the early tender results of its previously announced tender offers in respect of its 5.40% Notes due 2021 (the "2021 Notes") and its 5.87% Notes due 2022 (the "2022 Notes"). Additionally, Howmet Aerospace announced that it is extending the deadline for receiving the early tender premium in respect of each tender offer through the expiration date, and that it has increased the tender cap related to the 2022 Notes from $210,000,000 to $300,000,000. The tender cap related to the 2021 Notes remains unchanged. Because the deadline for receiving the early tender premium has been extended through the expiration date, all holders whose notes are accepted for purchase will receive the total consideration including the early tender premium. No terms of the previously announced tender offers have changed other than the increase to the tender cap related to the 2022 Notes and extension of the deadline for receiving the early tender premium.
On April 1, 2020, Arconic Inc. completed the separation of its business into two independent, publicly-traded companies: Howmet Aerospace Inc. (the new name for Arconic Inc.) and Arconic Corporation ("Arconic Corp"). The financial results of Howmet Aerospace prior to April 1, 2020 include the Global Rolled Products business (which became Arconic Corp as of April 1, 2020).
Howmet Aerospace Inc. (NYSE:HWM) ("Howmet Aerospace" or the "Company") today announced that it has closed its underwritten public offering of $1,200,000,000 aggregate principal amount of its 6.875% Notes due 2025 (the "Notes").
Howmet Aerospace, Inc. (NYSE: HWM) ("Howmet Aerospace" or the "Company") announced today that it has amended its previously announced tender offer and consent solicitation in respect of its 5.40% Notes due 2021 (the "2021 Notes") to increase the related tender cap from $500,000,000 to $785,000,000. Additionally, the Company announced that it has commenced a cash tender offer to purchase its 5.87% Notes due 2022 (the "2022 Notes") with an aggregate purchase price of up to $210,000,000.
Howmet Aerospace (NYSE: HWM) will present its preliminary first quarter 2020 financial results on Tuesday, April 14, 2020. The press release and presentation materials will be available at approximately 4:15 PM ET on April 14 via the "Investors" section of the Howmet Aerospace website. A link to the press release will also be available via Howmet’s Twitter handle @HowmetAerospace at https://twitter.com/howmetaerospace
DEEP DIVE U.S. stocks rallied Wednesday, as some of the worst recent performers posted the biggest gains. • The Dow Jones Industrial Average (DJIA) shot up 780 points (or 3.4%) to close at 23,433.57.
The number of U.S. cases of the coronavirus that causes COVID-19 rose above 400,000 on Wednesday, as companies continued to cut costs and furlough workers as they close offices and idle plants to prevent the spread of the deadly illness.
Arconic Corp. (NYSE: ARNC) announced plans to respond to impacts from the coronavirus pandemic Wednesday, including cutting ten percent of its salaried workforce, according to a news release. It decreased senior-level management salaries by 20 percent and all other salaried employees by 10 percent. The mitigation efforts also include lowering production and labor at all U.S.-based rolling and extrusion facilities through shortened work weeks and shift reductions.
Arconic Corp. said Wednesday said it was targeting a 10% reduction in its salaried workforce, as it looks to cut costs amid a decrease in demand resulting from the COVID-19 pandemic. The aluminum sheet provider had 15,400 employees worldwide in 2019. Among other actions the company is implementing to mitigate the effects of the COVID-19 crisis, Arconic said it was cutting Chief Executive Timothy Myers' salary and the board of directors' annual cash retainer by 30% and senior-level management salaries by 20% and suspending the 401(k) match for salaried employees. The company's New York and Tennessee facilities have been idled "until demand returns," other U.S.-based rolling and extrusion facilities will reduce production and its rolling mill facilities in Europe, China and Russia will modify schedules. The company said it was reducing capital expenditures by 30%. The stock, which was unchanged in premarket trading, while futures for the S&P 500 rose 1.3%.
Arconic Corporation (NYSE: ARNC) announced today that its Board of Directors approved several measures to further mitigate COVID-19 impacts on the Company.
Market forces rained on the parade of Arconic Inc. (NYSE:ARNC) shareholders today, when the analysts downgraded their...