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Stock Market & Financial Investment News

News Breaks
June 16, 2014
11:29 EDTMT, NUE, STLD, AKSAK Steel rallies after BofA/Merrill upgrade to Buy
Shares of AK Steel (AKS) are rising after Bank of America/Merrill Lynch upgraded the stock to Buy from Neutral in a note to investors earlier today. WHAT'S NEW: AK Steel should be boosted by stronger demand for electrical steel in the second half of this year, driven partly by strong demand for the product from India, Bank of America/Merrill Lynch analyst Timna Tanners wrote in a note to investors earlier today. Additionally, the company should benefit from lower cost pressures, due to declining iron ore prices and a drop in its costs for Magnetation in 2015, Timna stated. Magnetation, a joint venture formed in 2011, produces iron ore. Tanners raised her price target on AK Steel to $10 from $9. WHAT'S NOTABLE: On June 10, Goldman Sachs predicted that AK Steel and another company in the sector, U.S. Steel (X), would benefit from falling raw material costs and stronger margins. The firm reiterated Buy ratings on both stocks. OTHERS TO WATCH: Other steel makers include Nucor, (NUE), ArcelorMittal (MT) and Steel Dynamics (STLD). PRICE ACTION: In late morning trading, AK Steel climbed 5.6% to $7.
News For AKS;NUE;MT;STLD From The Last 14 Days
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April 23, 2015
09:06 EDTNUENucor sees Q2 EPS to be improved from Q1, consensus 45c
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09:06 EDTNUENucor continues to see improving demand in Automotive in nonresidential markets
Automotive markets remain strong and we continue to see improving demand in nonresidential construction markets. Conditions remain challenging in energy markets, in which the collapse in oil prices and continued high levels of imported oil country tubular goods products has caused an inventory glut in the pipe and tube sector. Nucor says it cannot determine when these conditions will improve, but once energy market steel inventories are rebalanced we expect overall steel demand to meet or exceed levels seen in 2014.
09:05 EDTNUENucor says operating performance at steel mills segment decreased significantly
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09:04 EDTNUENucor reports Q1 average sales price per ton down 5%
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09:04 EDTNUENucor reports Q1 EPS 21c, consensus 15c
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April 22, 2015
15:50 EDTNUENotable companies reporting before tomorrow's open
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April 20, 2015
18:04 EDTSTLDSteel Dynamics sees Q2 being 'transitional'
Mark Millett, CEO of Steel Dynamics stated, "As the expected reduction in steel import volume and sustained lower scrap costs occur, we anticipate improved results in Q2, and throughout the remainder of the year. We believe Q2 will be transitional, and the timing of recovery may be later in the quarter than originally anticipated, as imports have not declined as quickly as originally anticipated, but we are seeing positive signs. While we continue to strengthen our financial position through strong cash flow generation, and execute our long-term strategy, we are well-positioned to grow. Customer focus, coupled with our market diversification and low-cost operating platforms, support our ability to maintain our best-in-class performance. We believe we are poised to capitalize on meaningful growth opportunities, both near-term and in the future, that will benefit our customers, shareholders, employees and communities."
18:02 EDTSTLDSteel Dynamics reports Q1 adjusted EPS 17c, consensus 15c
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15:37 EDTSTLDNotable companies reporting after market close
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April 17, 2015
10:00 EDTMTOn The Fly: Analyst Downgrade Summary
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05:20 EDTMTArcelorMittal downgraded to Underperform from Neutral at Exane BNP Paribas
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April 15, 2015
11:33 EDTAKSAK Steel announces the retirement of Chief Legal and Administrative Officer
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10:46 EDTSTLD, NUE, AKSBofA/Merrill metals/mining/steel analysts hold analyst/industry conference call
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