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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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June 30, 2015
14:34 EDTX, AKS, 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 25, 2015
10:42 EDTXU.S. Steel June weekly calls active
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June 22, 2015
12:33 EDTX, STLD, AKS, NUESteel stocks lag market after AK Steel sees Q2 results hindered by imports
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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
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