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Stock Alert: Arconic Climbs 16%

Shares of Arconic Corp. (ARNC) are gaining almost 16 percent or $1.47 in Wednesday's morning trade at $10.76 despite no stock-specific news. The stock has traded in a range of $5.80 to $34.27 in the past 52 weeks.

Pittsburgh, Pennsylvania-based Arconic Corp. is a manufacturer and seller of aluminum sheets, plates, extrusions, and architectural products.

U.S. stocks are higher on Wednesday amid continued optimism about an economic recovery as states begin to reopen following the coronavirus-induced lockdowns.

Last Wednesday, Arconic said it closed its offering of first lien notes in the aggregate principal amount of $700 million at 6.000 percent interest per annum, with a maturity date of May 15, 2025. The company also replaced its cash flow revolver with a new asset-based credit facility with aggregate commitments of $800 million.

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