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Stock Market & Financial Investment News

News Breaks
January 29, 2013
11:56 EDTAKS, AAAK Steel says innovations in steel engineering reducing weight
On the Q4 conference call the CEO said aluminum will continue to play a role in automotive design and construction but steel will continue to play the leading role because of passenger safety, engineering and design, as well as advances in weighting and value.
News For AKS;AA From The Last 14 Days
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October 29, 2014
11:37 EDTAKSU.S. Steel rallies after better than expected Q3 results
Shares of integrated steel producer United States Steel (X) are rising after the company’s third quarter results surpassed analysts’ consensus estimates. WHAT'S NEW: Last night, U.S. Steel reported Q3 adjusted earnings per share of $2.16 excluding items and revenue of $4.59B, beating analysts’ consensus estimates of $1.17 and $4.56B, respectively. Adjusted EBITDA for the quarter came in at $611M. President and Chief Executive Officer Mario Longhi said the quarter's results reflect significant improvement in earnings power from the company's Carnegie Way transformation efforts. Longhi noted that the company experienced a significant improvement in total reportable segments and other businesses income from operations in the quarter, the highest level since the steel market peaked in 2008. Longhi said U.S. steel market conditions have remained stable. WHAT'S NOTABLE: Longhi noted that fourth quarter segment income from operations will decrease sequentially, primarily due to significantly lower results for the Flat-rolled segment. The comapny sees Q4 results for the Flat-rolled segment exceeding $100M, but decreasing significantly from Q3. However, Q4 results for the company’s European and Tubular segments are expected to improve slightly compared to the third quarter. PRICE ACTION: In late morning trading, U.S. Steel rose $3.45, or 9.04% to $41.58 on heavy trading volume. Including today's advance, the shares have gained approximately 64% over the past 12 months. OTHERS TO WATCH: Other steel producers include ArcelorMIttal (MT), up 0.2%, AK Steel (AKS), up 2.6%, and Nucor (NUE), down 0.4%
06:51 EDTAKSAK Steel added to short-term buy list at Deutsche Bank
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October 28, 2014
17:02 EDTAKSAK Steel to increase prices for carbon flat-rolled steel products
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09:20 EDTAAAlcoa to host investor day
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October 27, 2014
10:00 EDTAAOn The Fly: Analyst Upgrade Summary
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05:44 EDTAAAlcoa upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded Alcoa to Buy citing the turnaround in the company's upstream Primary smelting business following the company's Q3 results. Deutsche raised its price target for shares to $20 from $16. The stock closed Friday up 31c to $16.55.
October 23, 2014
16:16 EDTAAAlcoa to sell ownership stake in Mt. Holly Smelter to Century Aluminum
Alcoa (AA) announced that it has reached an agreement to sell its ownership stake in the Mt. Holly aluminum smelter in Goose Creek, South Carolina, to Century Aluminum Company (CENX) for $67.5M in cash, plus an additional potential earn-out. Mt. Holly is owned 50.3% by Alcoa and 49.7% by Century. The sale is subject to customary regulatory approvals, and is expected to close by the end of Q4. Based on current estimates, the transaction will not result in a significant gain or loss to Alcoa.
16:09 EDTAACentury Aluminum to acquire full ownership of Mt. Holly Smelter for $67.5M
Century Aluminum Company (CENX) announced that its wholly owned subsidiary has entered into a definitive agreement to acquire Alcoa's (AA) 50.3% stake in the Mt. Holly aluminum smelter. Mt. Holly, located in Berkeley County, South Carolina, employs approximately 600 people and has an annual production capacity of 229,000 metric tons of primary aluminum. Following the closing of the transaction, Century will own 100% of Mt. Holly. Pursuant to the terms of the agreement, Century will acquire Alumax of South Carolina, a subsidiary of Alcoa and owner of Alcoa's 50.3% interest in Mt. Holly, for $67.5M in cash less certain amounts owed by Alumax to Mt. Holly and subject to working capital and other similar adjustments. The transaction is expected to close in Q4 and is subject to customary closing conditions.
October 21, 2014
11:51 EDTAKSU.S. to end deal sheltering Russia from flat-rolled steel duties, Reuters says
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October 17, 2014
12:33 EDTAKSAK Steel trading higher after Nomura upgrade
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10:00 EDTAKSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AK Steel (AKS) upgraded to Buy from Neutral at Nomura... AMD (AMD) upgraded to Sector Perform from Underperform at Pacific Crest... Atlantic Power (AT) upgraded to Market Perform from Underperform at BMO Capital... Basic Energy (BAS) upgraded to Outperform from Market Perform at Cowen... BorgWarner (BWA) upgraded to Buy from Hold at Deutsche Bank... CA Technologies (CA) upgraded to Overweight from Equal Weight at Barclays... Calumet Specialty Products (CLMT) upgraded to Outperform at Wells Fargo... DHT Holdings (DHT) upgraded to Buy from Hold at Evercore... Exelon (EXC) upgraded to Neutral from Sell at Citigroup... Fifth Third Bancorp (FITB) upgraded to Buy from Neutral at Citigroup... Goldman Sachs (GS) upgraded to Outperform from Market Perform at Keefe Bruyette... Helmerich & Payne (HP) upgraded to Buy from Neutral at UBS... Hilton (HLT) upgraded to Buy from Neutral at SunTrust... Hyatt Hotels (H) upgraded to Outperform from Neutral at Macquarie... IPG Photonics (IPGP) upgraded at Stifel... ITC Holdings (ITC) upgraded to Neutral from Underperform at Credit Suisse... Manpower (MAN) upgraded to Outperform from Market Perform at Avondale... Nabors Industries (NBR) upgraded to Outperform from Market Perform at Cowen... Newpark Resources (NR) upgraded at Cowen... Old Dominion (ODFL) upgraded to Buy from Neutral at Longbow... PDC Energy (PDCE) upgraded at SunTrust... Patterson-UTI (PTEN) upgraded to Buy from Neutral at UBS... PrivateBancorp (PVTB) upgraded to Outperform from Neutral at Macquarie... QLogic (QLGC) upgraded to Buy from Hold at Summit Research... RPC, Inc. (RES) upgraded at Cowen... Sonoco (SON) upgraded to Neutral from Underperform at DA Davidson... Southwestern Energy (SWN) upgraded to Outperform from Market Perform at Raymond James... SunEdison (SUNE) upgraded to Outperform at Cowen... TSMC (TSM) upgraded to Buy from Neutral at Mizuho... Tesco (TESO) upgraded to Outperform from Market Perform at Cowen... UnitedHealth (UNH) upgraded to Outperform from Market Perform at Leerink... Xilinx (XLNX) upgraded to Outperform from Market Perform at Wells Fargo.
09:17 EDTAKSOn The Fly: Pre-market Movers
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08:48 EDTAKSBofA/Merrill global steel analysts hold analyst/industry conference call
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06:44 EDTAKSAK Steel upgraded to Buy from Neutral at Nomura
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