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Stock Market & Financial Investment News

News Breaks
August 22, 2014
07:01 EDTX, STLD, NUE, RS, AKSSteel price outlook raised at UBS
UBS said trade duties have helped curb the market from cheap foreign steel and strong demand has allowed U.S. mills to increase margins. The firm expects further trade action and believes cold rolled and coated sheet products could be next, delaying downward pressure on steel prices. The firm now expects steady steel prices in 2014, a slight weakening through 2015/16 and strengthening in 2017. As a result, the firm raised its scrap price forecast and increased earnings estimates for mini-mills and raised the price target for Buy rated Nucor's (NUE) to $59 from $56, cut Reliance's (RS) to $73 from $75, raised Neutral rated U.S. Steel's (X) to $38 from $28 and Steel Steel Dynamics's (STLD) to $25 from $23, and upgraded AK Steel (AKS) to Neutral from Sell and increased its price target to $11 from $6.
News For AKS;NUE;X;RS;STLD From The Last 14 Days
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September 17, 2014
09:10 EDTAKS, XOn The Fly: Pre-market Movers
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08:35 EDTNUENucor: Overall operating performance at steel mill improved in Q3
The company said it expects increased profitability in sheet, structural, bar and plate steel. Structural steel had no major outages in the third quarter, as compared to the planned three week outage at Nucor-Yamato Steel in the second quarter associated with our $115M sheet piling capital project. The strongest markets for the steel mills continue to be manufactured goods, including energy and automotive. Though third quarter results are expected to be much improved from the second quarter, imports remain at high levels, applying downward pressure on pricing. The performance of the fabricated construction products businesses is expected to improve compared to the second quarter of 2014, reflecting improving conditions in the nonresidential construction markets. Although nonresidential construction markets are at historically low levels, they are improving. The performance of the raw materials segment includes an anticipated operating loss of $27M at our direct reduced iron plant in St. James Parish, Louisiana.
08:33 EDTXU.S. Steel price target raised to $58 from $47 at Goldman
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08:32 EDTNUENucor sees Q3 EPS 70c-75c, consensus 61c
Projected Q3 results include estimated LIFO credit of $14.5M. Included in the projected third quarter results is an estimated $12M related to the partial write down of assets within the steel mills segment.
08:19 EDTXU.S. Steel remains top pick in steel space, says Cowen
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06:18 EDTXU.S. Steel volatility expected to move after updating Q3 outlook
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September 16, 2014
18:30 EDTXOn The Fly: After Hours Movers
UP AFTER EARNINGS: Apogee Enterprises (APOG), up 5.6% after reporting second quarter results and raising fiscal 2015 guidance. ALSO HIGHER: InspireMD (NSPR), up 18.5% after reporting positive trial results for CGuard... Boeing (BA), up marginally after NASA awarded the company with a $4.2B contract for commercial spaceflight to the International Space Station... U.S. Steel (X), up 7.9%% after updating third quarter outlook. DOWN AFTER EARNINGS: Adobe (ADBE), down 4.5% following third quarter results. ALSO LOWER: Rackspace Hosting (RAX), down 16.7% after ending strategic review and deciding to stay independent... Sunoco Logistics Partners (SXL), down 3.9% after filing to sell 7.7M shares of common stock... Aratana Therapeutics (PETX), down 7.8% after filing to sell common stock.
18:20 EDTXU.S. Steel up nearly 8% in after hours following Q3 update, strategic actions
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18:17 EDTXU.S. Steel sees Q3 ex-items EPS 'significantly higher' than current consensus
Consensus for Q3 EPS is 89c.
18:14 EDTXU.S. Steel updates Q3 outlook, sees significant improvement in operating income
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18:09 EDTXU.S. Steel announces decision to not proceed with Keewatin, Gary Works expansion
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14:34 EDTAKSAK Steel sees Severstal Dearborn acquisition accretive to earnings
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September 15, 2014
11:00 EDTNUEArcelorMittal, Gerdau sell Gallatin Steel facility for $770M
ArcelorMittal (MT) and Gerdau (GGB) jointly announced that they have entered into a definitive transaction agreement to sell their respective 50% interests in Gallatin Steel to Nucor (NUE) for a total cash consideration of $770M, subject to customary closing adjustments. Completion of the sale is subject to customary closing conditions, including expiration of the Hart Scott Rodino Antitrust Improvements Act waiting period. The closing of the transaction is not subject to any financing conditions and is expected to be realized by the end of 2014. Reference Link
08:33 EDTNUENucor agrees to acquire Gallatin Steel for $770M
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07:41 EDTRSTopeka to hold a conference
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September 12, 2014
14:44 EDTXU.S. Steel receives final approval for Minntac expansion
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September 11, 2014
08:04 EDTAKSAK Steel 35M share Secondary priced at $9.00
BofA/Merrill, Credit Suisse and JPMorgan acted as joint book running managers for the offering.
September 10, 2014
09:38 EDTXActive equity options trading on open
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September 8, 2014
06:51 EDTAKSAK Steel files to sell 35M shares of common stock
The joint book-running managers for the common stock offering are BofA Merrill Lynch, Credit Suisse and J.P. Morgan. The joint book-running managers for the notes offering are Credit Suisse, Citigroup and J.P. Morgan.
September 4, 2014
11:20 EDTXStocks with increasing options volume
Stocks with increasing options volume: BP VMW SCTY X GE MBLY VALE DDD
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