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Stock Market & Financial Investment News

News Breaks
June 27, 2014
07:37 EDTBHP, MT, RIO, ZEUSMacquarie to hold a conference
Global Iron Ore Conference to be held in London, England on June 27.
News For BHP;MT;RIO;ZEUS From The Last 14 Days
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October 29, 2014
11:37 EDTMTU.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%
October 27, 2014
07:28 EDTBHPBHP Billiton says could sell Fayetteville shale gas assets
BHP CEO Andrew Mackenzie said in a statement, "As we look to improve the balance of liquids and gas across our Petroleum portfolio we have initiated the marketing our Fayetteville acreage. However, we will only divest the field if it maximizes value for shareholders."
October 23, 2014
06:27 EDTRIORio Tinto extends tenure of CEO Sam Walsh, CFO Chris Lynch
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October 21, 2014
17:58 EDTBHPBHP Billiton Q1 iron-ore output up 17% YoY to 57.09 tons
17:56 EDTBHPBHP Billiton Q1 copper output down 3% YoY to 389,400 tons
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11:51 EDTMTU.S. to end deal sheltering Russia from flat-rolled steel duties, Reuters says
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10:00 EDTBHPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AbbVie (ABBV) downgraded to Neutral from Buy at Guggenheim... BHP Billiton (BHP) downgraded to Hold from Buy at Jefferies... Bank of Marin (BMRC) downgraded to Market Perform from Outperform at Keefe Bruyette... Cobalt (CIE) downgraded to Speculative Buy from Buy at Global Hunter... Consolidated Edison (ED) downgraded to Underweight at Morgan Stanley... Deutsche Post (DPSGY) downgraded to Hold from Buy at Deutsche Bank... HCP (HCP) downgraded to Hold from Buy at Jefferies... IBM (IBM) downgraded to Hold from Buy at Evercore... Inland Real Estate (IRC) downgraded to Underperform from Neutral at BofA/Merrill... PerkinElmer (PKI) downgraded to Neutral from Buy at Janney Capital... Philips (PHG) downgraded to Neutral at UBS... QEP Midstream Partners (QEPM) downgraded to Market Perform at Wells Fargo... Rent-A-Center (RCII) downgraded to Market Perform from Outperform at Raymond James... Rhino Resources (RNO) downgraded to Underperform from Market Perform at Raymond James... Universal Forest (UFPI) downgraded to Neutral from Buy at Sterne Agee.
05:31 EDTBHPBHP Billiton downgraded to Hold from Buy at Jefferies
Jefferies downgraded BHP Billiton to Hold saying it sees limited near-term upside after cutting its commodities price estimates.
October 17, 2014
08:48 EDTMTBofA/Merrill global steel analysts hold analyst/industry conference call
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