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Stock Market & Financial Investment News

News Breaks
June 19, 2014
17:05 EDTAKSAK Steel sees Q2 adjusted EPS (6c)-(2c), may not compare to consensus 10c
AK Steel said it expects to report a Q2 net loss of (23c)-(19c) per diluted share of common stock, which is a substantial improvement over its Q1 results. Adjusted to exclude the loss of 17c per diluted share for mark-to-market losses on derivatives, the company's adjusted net loss for Q2 would be (6c)-(2c) per diluted share. The company noted that, although it has generally experienced improved conditions in the steel markets it serves,Q2 results will be negatively impacted by the lingering effects of the extreme winter weather conditions and by the adverse impact of mark-to-market hedging losses, which the company expects will be substantially offset in the second half of 2014 by lower costs for commodities or by gains in its hedging positions.
News For AKS From The Last 14 Days
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May 20, 2015
12:35 EDTAKSAK Steel to pay $1.35M and implement air pollution controls at Michigan facility
The U.S. Department of Justice, the Environmental Protection Agency, and the Michigan Department of Environmental Quality announced that, under a settlement agreement with the U.S. and the state of Michigan, AK Steel will pay a civil penalty of $1.35M for past violations of the Clean Air Act at its Dearborn, Michigan facility, implement a variety of procedures to reduce future violations and install dynamic air filtration systems at the Salina Elementary and Salina Intermediate Schools across Ferney Street from the plant. The consent decree will require AK Steel to develop an environmental management system for the facility with third-party auditing every six months, annually inspect and continuously monitor the performance of the pollution control equipment at the facility’s basic oxygen furnace and implement a fugitive dust control policy to prevent large particulate emissions into the adjacent neighborhoods. Upon full implementation of the consent decree requirements, particulate matter emissions, including metal hazardous air pollutants, should be reduced by approximately 100 tons per year. The settlement was lodged with the U.S. District Court for the Eastern District of Michigan and is subject to a 30-day public comment period and final court approval. Reference Link

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