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Stock Market & Financial Investment News

News Breaks
June 24, 2013
13:48 EDTAKSAK Steel says incident occured at Middletown Ohio Works facility
AK Steel said that the blast furnace at its Middletown Works facility experienced a mechanical failure in the charging apparatus internal to the furnace on June 22. The company said that there were no injuries and it is continuing to assess the situation and investigate the root cause of the incident. The company said that it has a contingency plan in place and is executing the plan. The blast furnace was taken offline to prevent any damage to the furnace and to position the furnace for the start-up once the repairs are completed. Prior to the completion of the repairs, the company will utilize its Butler Works electric arc furnace and its Ashland Works blast furnace and, to the extent necessary, purchase merchant carbon slabs to service its customers. At this time, the company does not have a specific estimate of the cost or an exact date for completion of the repairs, though it currently expects to complete the repairs as early as sometime in July, though the repairs may be completed later in the third quarter. The company noted that it maintains property damage and business interruption insurance, and it currently expects that its uninsured losses will be between $10M-$27.5M. The company currently expects this outage will impact both the second and third quarter shipments and financial results.
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April 23, 2014
05:59 EDTAKSAK Steel upgraded to Outperform from Neutral at Macquarie
Macquarie upgraded AK Steel to Outperform citing improved pricing and demand as well as the company's significant cost reduction potential. The firm raised its price target for shares to $11 from $6.
April 22, 2014
08:34 EDTAKSAK Steel incurred higher production costs in Q1 due to extreme winter weather
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08:32 EDTAKSAK Steel reports Q1 adjusted EPS (40c), consensus (43c)
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April 21, 2014
15:04 EDTAKSAK Steel April weekly volatility elevated at 81 into Q1 and outlook
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April 15, 2014
12:51 EDTAKSAK Steel boosts stainless steel prices
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April 9, 2014
07:48 EDTAKSBofA/Merrill's steel analysts hold an analyst/industry conference call
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