ARNC - Arconic approves $200M share buyback

• Arconic ( NYSE: ARNC ) on Wednesday said its board had approved a two-year share buyback program of up to $200M.
• The share repurchase comes about two weeks after ARNC reported its Q3 results , in which it cut its FY 2022 revenue guidance.
• "Following the completion of our first $300 million repurchase authorization in the third quarter of 2022, this new program demonstrates our commitment to our long-term strategy and growth outlook," ARNC CEO Tim Myers said in a statement .
• ARNC stock has been on a fairly decent run lately, having posted gains in three out of five sessions .
• Arconic ( ARNC ) shares earlier closed -2.2% at $19.87.

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