New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 16, 2014
11:29 EDTNUE, STLD, AKS, MTAK 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
Sign up for a free trial to see the rest of the stories you've been missing.
July 2, 2015
06:13 EDTMTArcelorMittal to cut 2,800 jobs in Mexico, Reuters reports
Subscribe for More Information
June 30, 2015
14:34 EDTAKS, NUEIron ore producers slide after Australia cuts price target on the commodity
Shares of iron ore producers are falling after Reuters reported that Australia reduced its 2015 price forecast for iron ore to $54.40 a tonne from $60.40 a tonne. According to Reuters, Australia's current projection on iron ore prices is based on its view that China, the commodity's main market, will produce less steel in 2015 and 2016 as as the seaborne supply of iron ore increases. PRICE ACTION: Cliffs Natural Resources (CLF) is down over 10%, BHP Billiton (BHP) is lower by 2.3%, and Vale (VALE) is down 4% in afternoon trading. Steel stocks, including United States Steel (X), AK Steel Holding (AKS), and Nuco (NUE) are also sliding in afternoon trading.
June 26, 2015
10:04 EDTMT:High option volume stocks
Subscribe for More Information
09:36 EDTMTActive equity options trading on open
Subscribe for More Information
June 22, 2015
12:33 EDTAKS, NUE, STLDSteel stocks lag market after AK Steel sees Q2 results hindered by imports
Subscribe for More Information
07:32 EDTSTLDSteel Dynamics sees Q2 steel ops profitability to be similar to Q1
Improved second quarter 2015 shipments will be offset by unexpected metal margin compression, driven by steel imports remaining much higher than originally anticipated, resulting in average quarterly steel prices decreasing more than average quarterly scrap prices. The benefit of reduced scrap pricing was realized in the second quarter; but, the continued flood of steel imports thus far in 2015 continued to pressure steel product pricing to a greater degree. However, steel pricing has recently begun to stabilize and domestic steel demand remains solid. Continued demand for the company's fabricated steel joist and decking products indicates the non-residential construction market is continuing a positive trend. Second quarter 2015 profitability from the company's fabrication operations is expected to be higher than near-record sequential first quarter 2015 results. Metals recycling financial results are also expected to be higher for the second quarter 2015, compared to the sequential first quarter, based on both increased shipments and metal margin, as pricing volatility subsided.
07:31 EDTSTLDSteel Dynamics sees Q2 adjusted EPS 20c-24c, consensus 24c
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use