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Stock Market & Financial Investment News

News Breaks
March 26, 2013
07:41 EDTLNG, HUN, EMN, CE, DOW, AA, TGP, GMLP, GLNG, CQP, NUEU.S. manufacturing group calls to rein in LNG export plans, FT reports
A group of U.S. manufacturers, including Alcoa (AA), Dow Chemical (DOW), Celanese (CE), Eastman Chemical (EMN), Huntsman (HUN) and Nucor (NUE), is calling for a “balanced” approach to exporting liquefied natural gas, arguing that only a few more plants should be given permits to export LNG freely in order to protect jobs and investment in the U.S., reported Financial Times. Reference Link
News For LNG;CQP;GLNG;GMLP;TGP;AA;DOW;CE;EMN;HUN;NUE From The Last 14 Days
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August 26, 2014
09:45 EDTGLNGGolar LNG reports Q2 operating revenue $21.08M, consensus $20.36M
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August 25, 2014
15:18 EDTGLNGNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Best Buy (BBY), consensus 31c; Golar LNG (GLNG), consensus (7c); DSW (DSW), consensus 32c; Tech Data (TECD), consensus 77c; Sanderson Farms (SAFM), consensus $3.82; Movado (MOV), consensus 54c; Trina Solar (TSL), consensus 14c.
11:55 EDTNUEU.S. Steel gains after Credit Suisse upgrades on pricing outlook
Shares of U.S. Steel (X) are climbing after Credit Suisse upgraded the stock by two notches, saying that the company should benefit from an improved pricing environment and raw material cost advantages. WHAT'S NEW: An increase in U.S. demand for steel, along with tariffs that have been imposed on foreign steel producers and the possibility that additional tariffs will be imposed, are keeping U.S. steel prices far higher than previously anticipated, Credit Suisse analyst Nathan Littlewood wrote in a note to investors earlier today. Additionally, production at a number of American steel mills has been curtailed, the analyst stated. Moreover, U.S. Steel can obtain raw materials relatively cheaply, enabling it to produce some of the lowest cost steel in North America, Littlewood stated. U.S. Steel should become one of the most profitable steel makers in the world, according to Littlewood, who upgraded his rating on the shares to Outperform from Underperform and hiked his price target on the stock to $50 from $25. WHAT'S NOTABLE: Littlewood downgraded his rating on another name in the sector, Steel Dynamics (STLD), to Neutral from Outperform. Although the company has a high quality business, the recent outperformance by the stock caused the analyst to downgrade the name. Littlewood kept a $23 price target on the shares. On Friday, UBS wrote that the threat of new tariffs on imported steel could prevent U.S. steel prices from dropping significantly. The filing of requests for additional tariffs on foreign steel, or even the threat of such filings, could keep steel prices from declining in the short-term, the firm predicted. UBS upgraded AK Steel (AKS) to Neutral from Sell, while raising its price target on Nucor (NUE) to $11 from $6 and keeping a Buy rating on that stock. The firm raised its price target on U.S. Steel to $38 from $28 but kept a Neutral rating on the shares. PRICE ACTION: In late morning trading, U.S. Steel advanced 2.6% to $38.81, Steel Dynamics lost 0.3% to $23.24, AK Steel gained 2% to $10.89, and Nucor climbed 1% to $54.23.
08:31 EDTAAAlcoa to close Portovesme smelter in Italy
Alcoa announced that it intends to permanently close its Portovesme primary aluminum smelter, which has been curtailed since November 2012. The closure will reduce Alcoa’s global smelting capacity by 150,000 metric tons to 3.6 million metric tons per year. The Portovesme smelter was curtailed in 2012 because it was one of the highest cost smelters in the Alcoa system and had limited prospects for becoming competitive. “The fundamental reasons that made the Portovesme smelter uncompetitive unfortunately have not changed,” said Bob Wilt, President, Alcoa Global Primary Products. “We will continue to meet the commitments made to our employees and our stakeholders, acting in good faith as we have always done.” As committed to the government and unions, Alcoa has provided financial social support, along with outplacement and re-employment services for employees. The closure is aligned with Alcoa’s strategy to create a globally competitive commodity business and lower its position on the world aluminum production cost curve to the 38th percentile by 2016. Total restructuring-related charges for third quarter 2014 as a result of the closure are expected to be between $170M-$180M after-tax, or between 14c-15c per share, of which approximately 60% is non-cash.
August 22, 2014
10:42 EDTNUEAnalyst says tariff threat could protect steelmakers
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08:02 EDTGLNGGolar LNG price target raised to $78-$90 from $55-$60 at Wells Fargo
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07:01 EDTNUESteel price outlook raised at UBS
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August 20, 2014
16:33 EDTNUENucor files automatic mixed securities shelf
August 19, 2014
16:00 EDTAAOptions Update; August 19, 2014eBay
iPath S&P 500 VIX Short-Term Futures down 28c to 27.52. Option volume leaders: AAPL C HD PBR GILD AA NFLX TWTR TSLA EBAY according to Track Data.
07:46 EDTHUNJacobs designs and builds iron sulfate plant for Huntsman pigments in Italy
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August 18, 2014
12:47 EDTNUENucor volatility at low end of historic range
Nucor September and October call option implied volatility is at 19, January is at 18; compared to its 26-week average of 21 according to Track Data, suggesting decreasing price movement.
08:04 EDTHUNHuntsman weakness a buying opportunity, says UBS
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August 15, 2014
12:08 EDTHUNHuntsman announces manufacturing disruption at Port Neches, Texas facility
Huntsman announced that it experienced an unplanned manufacturing disruption on a production unit at its facility in Port Neches, Texas. There were no injuries resulting from the incident. The disruption occurred on Thursday August 14 and was caused by equipment failure. The Port Neches facility manufactures methyl tertiary butyl ether, propylene oxide and propylene glycols. The manufacturing disruption also impacts internal PO supply to downstream MDI systems, amines, surfactants and propylene oxide derivatives. The affected unit is expected to be off-line for two to three weeks, with an estimated negative impact of $30M EBITDA for Huntsman's Polyurethanes and Performance Products divisions. It is yet to be determined whether this will impact the planned maintenance scheduled for the first half of 2015.
12:05 EDTHUNHuntsman trading halted, pending news
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August 14, 2014
17:27 EDTEMNAppaloosa gives quarterly update on stakes
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16:27 EDTDOWBerkshire Hathaway reports 6.0% passive stake in Dow Chemical
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12:58 EDTGLNGJANA Partners gives quarterly update on stakes
NEW STAKES: Apache (APA), FMC Corp (FMC), Civeo (CVEO), PetSmart (PETM), and Charter Communications (CHTR). INCREASED STAKES: Actavis (ACT), AIG (AIG), Mallinckrodt (MNK), HD Supply (HDS), and American Capital (ACAS). DECREASED STAKES: Liberty (LVNTA), Oil States International (OIS), eBay (EBAY), Liberty Media (LMCA), and Liberty Interactive (LINTA). LIQUIDATED STAKES: Sirius XM (SIRI), Juniper (JNPR), Golar LNG (GLNG), Outerwall (OUTR), and Teva (TEVA).
12:01 EDTDOWThird Point gives quarterly update on stakes
NEW STAKES: Rackspace (RAX), Finisar (FNSR), Amgen (AMGN), Ally Financial (ALLY), and AstraZeneca (AZN). INCREASED STAKES: Dollar General (DG) and Dow Chemical (DOW). DECREASED STAKES: FedEx (FDX), Hertz (HTZ), T-Mobile (TMUS) and Intrexon (XON). LIQUIDATED STAKES: Google Class A (GOOGL), Verizon (VZ) and Mondelez (MDLZ).
08:01 EDTEMNEastman Chemical management to meet with UBS
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August 13, 2014
07:37 EDTEMNEastman Chemical management to meet with UBS
Meetings to be held in Atlanta/Charlotte on August 13 hosted by UBS.
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