Precision Castparts Corp. (PCP) announced after the close Wednesday that it agreed to acquire Carlton Forge Works and related entities for $850 million.
Precision Castparts gapped up sharply Thursday and spiked higher in early trade. The stock rose further around the middle portion of the afternoon and closed up by $8.20 at $94.97 on the highest volume in 10 months. Shares climbed past resistance and set over an 11-month high.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.