Alcoa Responds to Being Dropped from the DJIA and 2 Other Dow Movers to Watch
Alcoa Inc. (NYSE:AA): Current price $8.05 It has been announced that Alcoa, along with two other stocks, will be taken off the Dow Jones Industrial Average, effective September 23. The company has released a statement on this coming action, which reads, “The composition of the Dow Jones Industrial Average has no impact on Alcoa’s ability to successfully execute our strategy, and we remain focused on delivering shareholder value. “We continue to grow our value-add businesses and capture growth opportunities in end markets like aerospace and automotive. At the same time, we are optimizing our upstream competitiveness. We are focused on the things we can control, pressing our innovation edge, and strong position in end markets while lowering our cost position in our commodity business.”
General Electric Co. (NYSE:GE): Current price $23.88 On Tuesday, GE Capital, Healthcare Financial Services, reported that it is serving as administrative agent and sole lender on a $6-million senior secured multi-draw term loan for Delphinus Medical Technologies, Inc. The latter will use the financing mainly for clinical and early commercialization endeavors. Delphinus is the innovator and developer of the SoftVu whole breast tomography system, which patented tech provides no radiation, no compression, and is independent from operator skills. Delphinus has filed with the FDA for its okay to commercialize the tech.
McDonald’s Corp. (NYSE:MCD): Current price $96.86 The fast food behemoth announced Tuesday that a key revenue figure jumped by 1.9 percent in August, pushed by a strong performance in Europe, and also by McDonald’s Monopoly promotion in the United States which helped raise its performance there. The corporation reported the rise in revenue at restaurants open a minimum of 13 months for the period ended August 31. The figure includes a 3.3-percent increase in Europe, a 0.2-percent uptick in the U.S. and a 0.5-percent slip in Asia Pacific.