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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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June 30, 2015
14:34 EDTAKSIron 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 22, 2015
12:33 EDTAKSSteel stocks lag market after AK Steel sees Q2 results hindered by imports
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June 19, 2015
17:33 EDTAKSAK Steel sees Q2 EPS (42c)-(37c), consensus (27c)
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