Arconic Inc (NYSE:ARNC) tumbled after announcing that its board has decided that it’s no longer pursuing a sale of the company. The private equity firm Apollo Global Management LLC had been pursuing a deal to acquire the metals manufacturer for more than $10 billion, The Wall Street Journal reported.
Shares fell 16% to $17.09.
Stanley Black & Decker Inc (NYSE:SWK) sank after reporting that its fourth-quarter gross margin declined by 2.8 percentage points to 33.3%. The tools company cited “headwinds” including commodity inflation and tariffs.
The stock dropped 15.5% to $115.69.
EBay Inc (NASDAQ:EBAY) rallied as the activist hedge fund Elliott Management Corp said it had a 4% stake in the online auction company and recommended the spinoff of StubHub and the classified-ads business.
The stock was up 6% to $32.90.
Johnson & Johnson (NYSE:JNJ) declined after reporting that it expected adjusted earnings per share of $8.50 to $8.65, compared with the $8.61 forecast by analysts. The company did post fourth-quarter earnings that beat estimates.
The stock fell 1.4% to $128.92 after rising in premarket trading.
Halliburton Co (NYSE:HAL) slipped as it reported that North America revenue in the fourth quarter was $3.3 billion, an 11% decrease from the prior quarter. The oil services company swung back to profit during its latest quarter with earnings that topped analysts' forecasts.
The stock decreased 3% to $31.26.