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Stock Market & Financial Investment News

News Breaks
January 30, 2013
05:40 EDTMTArcelorMittal downgraded to Underweight from Neutral at HSBC
News For MT 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 21, 2014
11:51 EDTMTU.S. to end deal sheltering Russia from flat-rolled steel duties, Reuters says
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October 17, 2014
08:48 EDTMTBofA/Merrill global steel analysts hold analyst/industry conference call
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