Arconic Inc (NYSE: ARNC) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced that it has made a new titanium allow commercially available, leading to excitement among investors and sending the stock runnning for the top. Today, we’ll talk about:
- The new titanium alloy;
- what we’re seeing from ARNC; and
- what we’ll be watching for ahead.
ARNC Flies On New Titanium Alloy
As mentioned above, Arconic is having an incredibly strong start to the trading session this morning after announcing the launch fo a new titanium alloy. In a press release issued early this morning, the company announced the launch of the alloy called ARCONIC-THOR. In particular, the alloy was designed for higher temperature applications in next generation aero engines and adjacent structures.
In the release, ARNC said that the patented ARCONIC-THOR is almost 50% lighter than incumbent nickel-based superalloys, driving cost savings and fuel efficiency for customers. The new allow is also incredibly resistant to high temperatures and includes oxidation resistance to protect against deterioration. In a statement, Jeremy Halford, President of Engineering Structures at ARNC, had the following to offer:
ARCONIC-THOR is a breakthrough aerospace material that goes where conventional titanium alloys cannot… Next generation fuel-efficient aero engines are running hotter, presenting a materials challenge for the exhaust systems and adjacent structures. Drawing on our materials science expertise, our engineers formulated ARCONIC-THOR—a powerful titanium solution that can take the heat and unlock significant weight and cost savings for our customers.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that it’s important to keep a close eye on the news. After all, the news moves the market. In the case of Arconic, the news proved to be overwhelmingly positive. With the launch of a superior alloy now available, the company will likely drive strong revenue growth. So, it’s no surprise to see that excited investors are sending the stock on a run for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:10), ARNC is trading at $18.92 per share after a gain of $1.54 per share or 8.86% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ARNC. In particular, we’re interested in following the sales of the new titanium alloy as the superior metal has the potential to dominate the market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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