Halliburton, Baker Hughes divest more; Alcoa to split; Cal-Maine egged
Time for your daily dose of trending tickers, the stocks you're following based on your Yahoo Finance ticker searches.
Alcoa
Alcoa (AA) jumped on plans to split into two companies. The aluminum producer will break its upstream activities unit from its "value-add" business. The two will trade as separate publicly traded companies. The upstream business will keep the Alcoa name. The other will be named after the split closes, which is expected in the second half of next year.
Cal-Maine Foods
CALM is the ticker symbol for Cal-Maine Foods but the stock was in turmoil during the session. The egg producer was sharply lower despite soaring profit and sales in its last quarter. The results still fell short of Wall Street's expectations of $3.14, coming in at $2.95 a share. The company benefited from higher egg prices resulting from a bird-flu outbreak that ravaged competitors' flocks. Cal-Maine's CEO said "we believe that egg prices will remain very high until the supply situation returns to more normal levels."
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Halliburton and Baker Hughes
Halliburton (HAL) and Baker Hughes (BHI) are still seeking to keep their deal alive. Shares of both Halliburton and Baker Hughes drifted lower after they announced plans to unload more businesses, in hopes to win regulatory approval. The two oilfield services companies are the second and third largest in the industry and agreed to merge last November following a sharp drop in oil prices.