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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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November 24, 2014
06:13 EDTMTInvestec Asset reports 10.16% passive stake in ArcelorMittal
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November 18, 2014
13:28 EDTAKSIron ore, steel stocks lower after iron ore prices, China home prices decline
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09:56 EDTAKSOn The Fly: Analyst Initiation Summary
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06:34 EDTSTLDSteel Dynamics initiated with an Outperform at BMO Capital
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06:33 EDTNUENucor initiated with a Market Perform at BMO Capital
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06:33 EDTAKSAK Steel initiated with a Market Perform at BMO Capital
Target $7.

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