Arconic CEO Klaus Kleinfeld steps down

At Arconic, Race Heats Up for Next Chief Executive

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.

British woman stabbed to death in Jerusalem
The British Foreign Office in London said in a statement: "We can confirm the tragic death of a British national in Jerusalem ". A pregnant women and 50-year-old man were also injured when the tram came to a sudden stop and in the aftermath of the attack.

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.

Mobile, Dish, Comcast Emerge As FCC Auction Winners
As a result, wireless spectrum in the US has much different value prospects than in Europe, because companies can buy and sell it. T-Mobile To Soon Claim The Carrier Throne? Meanwhile, AT&T spent less than $1 billion on licenses, while Verizon declined to bid.

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.

Putin meets Tillerson as tensions rise over Syria
He said working groups would be established to improve U.S. "But we're going to see what happens", Trump told the news conference. Russian president says ties with USA worsened in recent months as top diplomats lock horns over Syria conflict.

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