Arconic CEO Klaus Kleinfeld steps down

Pretzel, nuts and salty snack maker Snyder's-Lance tumbled $6.16, or 15.4 percent, to $33.76 after it gave a weak first-quarter forecast that included more spending on marketing and lower profit margins and then slashed its forecast for the year. Straight Path stock rose $19.86, or 21.7 percent, to $111.56.

Alere climbed $6.94, or 16.4 percent, to $49.25.

ACHES AND PAINS: Eli Lilly stumbled after the Food and Drug Administration refused to approve its much-anticipated pill for the immune disorder rheumatoid arthritis. That may mean the companies will have to run more studies of the drug. (ARNC) surged 5.2% in premarket trade Monday, after the company said Chief Executive Klaus Kleinfeld was leaving the company after he used "poor judgment" by contacting an activist investment without authorization. Lilly lost $3.50, or 4.1 percent, to $82.38 and Incyte sank $14.77, or 10.5 percent, to $126.07.

Uber facing possible fine for drunk drivers
Lyft has a smaller market share but is the preferred service of many drivers because it allows tipping through the smartphone app. The taxi commission has the authority to initiate rulemaking on its own, but rules must be certified by city legal authorities.

Kleinfeld had served as Alcoa Inc's CEO for eight years and oversaw the company's split-up into Arconic and Alcoa Corp AA.N last year. With the completion of Arconic's transformative separation transaction last November, the substantial refreshment of its Board composition with seven of its twelve directors having joined the Board since the beginning of a year ago, and now the departure of Mr. Kleinfeld as CEO and Chair of the Board, it is clear that the Company has recently undergone a tremendous amount of change.

Arconic Inc ARNC.N said on Monday Chief Executive Klaus Kleinfeld resigned after the USA specialty metals maker found he sent a letter in "poor judgment" to Elliott Management, with whom it is embroiled in a proxy war and which used the chance to again criticize the company's board.

BONDS: Bond prices inched higher. A week ago it agreed to be bought by AT&T for $95.63 a share in stock, or $1.25 billion.

Microsoft says users are protected from alleged NSA malware
Calls and messages left with EastNets' offices in Dubai, London and NY were either not picked up or not immediately returned. The exploits, published by the Shadow Brokers on Friday, contain vulnerabilities in Windows computers and servers.

Benchmark US crude lost 53 cents, or 1%, to 52.65 US dollars (£41.90) a barrel in NY. Brent crude, used to price global oils, fell 5 cents to $55.84 per barrel in London. Health care and energy companies are lagging the market. Copper picked up 3 cents to $2.60 a pound.

CURRENCIES: The dollar fell to 108.47 yen from 109.16 yen.

OVERSEAS: Markets in Hong Kong, France, Germany and Britain were all closed for the Easter holiday. Stock has got OUTPERFORM rating from 1 analyst of Thomson Reuters, 4 analysts given HOLD rating to the stock and 0 given UNDERPERFORM rating.

Jackie Robinson Day to be celebrated throughout baseball on Saturday
FILE - In this 1962 file photo, former baseball player Jackie Robinson and his wife, Rachel, pose in their CT home in 1962. That's quite a star-studded cast that will be on hand to honor Jackie Robinson and share the moment with his family.

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