Arconic says no deals yet, stock tumbles

Business | 23 Jan 2019 9:39 am

Aluminum products maker Arconic slumped by 16 percent to US$17.09 on Tuesday after it said it is no longer considering a sale. Formerly a part of aluminum giant Alcoa, Arconic said it did not receive any offers it thought were in its best interests. The stock has gyrated over the last few months following reports the company was considering a sale.

Power tools maker Stanley Black and Decker sank by 15.5 percent to US$115.69 after its forecast for 2019 fell short of Wall Street estimates.-AP

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