Arconic CEO Klaus Kleinfeld steps down

Fact Set

Looking into the profitability ratios of FAST stock, investor will find its ROE, ROA, ROI standing at 26.40%, 18.60% and 21.80%, respectively.

The company said Mr. Kleinfeld's decision to step down had nothing to do with the proxy fight being waged by Elliott, a New York-based hedge fund. Arconic's statement praised Mr. Kleinfeld for his "transformative vision" and said he improved the company's performance despite a hard environment.

Beristain said activist investor Elliott Management will help Arconic realize its earnings potential by championing its own CEO to the helm, after the metal products manufacturer's former CEO Klaus Kleinfeld quit amid a proxy battle with the investing firm.

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Lilly has high hopes for Olumiant because it's a pill while most other new rheumatoid arthritis drugs are injections. It's the second drug development setback for Lilly since November and its stock lost $3.42, or 4 percent, to $82.46. This was a case of "poor judgement", the company said in a prepared news release. Stock has got OUTPERFORM rating from 1 analyst of Thomson Reuters, 4 analysts given HOLD rating to the stock and 0 given UNDERPERFORM rating. The company also created more than $8 billion in stock market value since 2009.

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. Stock exchanged hands with the total volume of 1.72 Million shares, as contrast to its average volume of 6.14 Million shares. Straight Path said it was contacted by another company Thursday, and that company may make an offer to compete with AT&T's.

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OIL: Benchmark U.S. crude lost 13 cents to $53.05 a barrel in NY.

Bond prices slipped. The yield on the 10-year Treasury note rose to 2.25 percent from 2.24 percent. Brent crude, used to price worldwide oils, fell 53 cents to $55.36 per barrel in London.

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