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November 13, 2012
06:53 EDTAKSAK Steel now expects shipments of approximately 1.375M to 1.40M tons in Q4
This compares to shipments of 1,363,500 tons in Q3 of 2012. The company said it expects that its average selling price for all products for Q4 of 2012 will decline by approximately 5% from its average selling price of $1,073 per ton for Q3 of 2012. This reduction in average selling price is largely the result of two factors: lower average spot market prices for carbon steel products compared to the third quarter, due primarily to a decline in global economic and business conditions; and reduced raw material surcharges, due to lower raw material costs.
News For AKS From The Last 14 Days
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October 29, 2014
11:37 EDTAKSU.S. Steel rallies after better than expected Q3 results
Shares of integrated steel producer United States Steel (X) are rising after the company’s third quarter results surpassed analysts’ consensus estimates. WHAT'S NEW: Last night, U.S. Steel reported Q3 adjusted earnings per share of $2.16 excluding items and revenue of $4.59B, beating analysts’ consensus estimates of $1.17 and $4.56B, respectively. Adjusted EBITDA for the quarter came in at $611M. President and Chief Executive Officer Mario Longhi said the quarter's results reflect significant improvement in earnings power from the company's Carnegie Way transformation efforts. Longhi noted that the company experienced a significant improvement in total reportable segments and other businesses income from operations in the quarter, the highest level since the steel market peaked in 2008. Longhi said U.S. steel market conditions have remained stable. WHAT'S NOTABLE: Longhi noted that fourth quarter segment income from operations will decrease sequentially, primarily due to significantly lower results for the Flat-rolled segment. The comapny sees Q4 results for the Flat-rolled segment exceeding $100M, but decreasing significantly from Q3. However, Q4 results for the company’s European and Tubular segments are expected to improve slightly compared to the third quarter. PRICE ACTION: In late morning trading, U.S. Steel rose $3.45, or 9.04% to $41.58 on heavy trading volume. Including today's advance, the shares have gained approximately 64% over the past 12 months. OTHERS TO WATCH: Other steel producers include ArcelorMIttal (MT), up 0.2%, AK Steel (AKS), up 2.6%, and Nucor (NUE), down 0.4%
06:51 EDTAKSAK Steel added to short-term buy list at Deutsche Bank
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October 28, 2014
17:02 EDTAKSAK Steel to increase prices for carbon flat-rolled steel products
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October 21, 2014
11:51 EDTAKSU.S. to end deal sheltering Russia from flat-rolled steel duties, Reuters says
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October 17, 2014
12:33 EDTAKSAK Steel trading higher after Nomura upgrade
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10:00 EDTAKSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AK Steel (AKS) upgraded to Buy from Neutral at Nomura... AMD (AMD) upgraded to Sector Perform from Underperform at Pacific Crest... Atlantic Power (AT) upgraded to Market Perform from Underperform at BMO Capital... Basic Energy (BAS) upgraded to Outperform from Market Perform at Cowen... BorgWarner (BWA) upgraded to Buy from Hold at Deutsche Bank... CA Technologies (CA) upgraded to Overweight from Equal Weight at Barclays... Calumet Specialty Products (CLMT) upgraded to Outperform at Wells Fargo... DHT Holdings (DHT) upgraded to Buy from Hold at Evercore... Exelon (EXC) upgraded to Neutral from Sell at Citigroup... Fifth Third Bancorp (FITB) upgraded to Buy from Neutral at Citigroup... Goldman Sachs (GS) upgraded to Outperform from Market Perform at Keefe Bruyette... Helmerich & Payne (HP) upgraded to Buy from Neutral at UBS... Hilton (HLT) upgraded to Buy from Neutral at SunTrust... Hyatt Hotels (H) upgraded to Outperform from Neutral at Macquarie... IPG Photonics (IPGP) upgraded at Stifel... ITC Holdings (ITC) upgraded to Neutral from Underperform at Credit Suisse... Manpower (MAN) upgraded to Outperform from Market Perform at Avondale... Nabors Industries (NBR) upgraded to Outperform from Market Perform at Cowen... Newpark Resources (NR) upgraded at Cowen... Old Dominion (ODFL) upgraded to Buy from Neutral at Longbow... PDC Energy (PDCE) upgraded at SunTrust... Patterson-UTI (PTEN) upgraded to Buy from Neutral at UBS... PrivateBancorp (PVTB) upgraded to Outperform from Neutral at Macquarie... QLogic (QLGC) upgraded to Buy from Hold at Summit Research... RPC, Inc. (RES) upgraded at Cowen... Sonoco (SON) upgraded to Neutral from Underperform at DA Davidson... Southwestern Energy (SWN) upgraded to Outperform from Market Perform at Raymond James... SunEdison (SUNE) upgraded to Outperform at Cowen... TSMC (TSM) upgraded to Buy from Neutral at Mizuho... Tesco (TESO) upgraded to Outperform from Market Perform at Cowen... UnitedHealth (UNH) upgraded to Outperform from Market Perform at Leerink... Xilinx (XLNX) upgraded to Outperform from Market Perform at Wells Fargo.
09:17 EDTAKSOn The Fly: Pre-market Movers
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08:48 EDTAKSBofA/Merrill global steel analysts hold analyst/industry conference call
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06:44 EDTAKSAK Steel upgraded to Buy from Neutral at Nomura
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