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Stock Market & Financial Investment News

News Breaks
August 22, 2014
07:01 EDTSTLD, NUE, RS, X, 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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March 6, 2015
08:16 EDTX, AKS, STLDEU ready to impose duties on stainless steel from China, Taiwan, Reuters says
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March 3, 2015
10:01 EDTX, AKSOn The Fly: Analyst Downgrade Summary
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06:20 EDTXU.S. Steel downgraded to Neutral from Buy at Nomura
Nomura believes U.S dollar strength and cost curve deflation driven by lower raw material prices and freight rates will continue to alter the global steel landscape. The firm expects continued export pressure by Russia and China into the global market to be highly disruptive, and when combined with further U.S. dollar strength, to pressure the U.S. steel sector. As a result, Nomura downgraded U.S. Steel (X) to Neutral and lowered its price target to $21 from $37.
06:20 EDTAKSAK Steel downgraded to Neutral from Buy at Nomura
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March 2, 2015
09:23 EDTSTLD, X, NUE, AKS, RSBofA/Merrill U.S. metals/mining analysts hold analyst/industry conference call
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08:53 EDTRSReliance Steel announces CEO David Hannah intends to transition from his role
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February 23, 2015
13:01 EDTAKSAK Steel to build research and innovation center in Middletown, Ohio
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07:45 EDTSTLDSteel Dynamics remains a Best Idea at Morgan Stanley
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07:40 EDTNUEBMO Capital to hold a conference
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February 20, 2015
10:01 EDTRSOn The Fly: Analyst Upgrade Summary
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07:51 EDTRSReliance Steel has reached attractive entry point, says Wells Fargo
After Reliance Steel reported results that Wells Fargo views as disappointing, the firm nonetheless says that the shares are "too cheap to ignore." The firm thinks the stock has reached an attractive entry point for long-term investors, and it keeps an Outperform rating on the shares.
07:05 EDTRSReliance Steel upgraded at KeyBanc
As previously reported, KeyBanc upgraded Reliance Steel to Buy from Hold. Following yesterday's earnings report, the firm believes Reliance is near a trough in the earnings cycle, has compelling free-cash-flow to support accretive capital deployments, and has one of the strongest managements in the industry. Price target is $66.
06:02 EDTRSReliance Steel upgraded to Buy from Hold at KeyBanc

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