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Stock Market & Financial Investment News

News Breaks
February 7, 2013
06:13 EDTMUSA, RSMetals USA downgraded to Hold from Buy at Jefferies
Jefferies downgraded Metals USA (MUSA) citing the acquisition by Reliance Steel (RS) as it believes a higher offer is unlikely to emerge.
News For MUSA;RS From The Last 14 Days
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April 23, 2015
08:59 EDTRSReliance Steel expects customer demand to continue improving through 2015
Reliance Steel stated that, with the exception of the energy market, it experienced steadily improving customer demand across most of its end markets during Q1, which is expected to continue as the year progresses. Automotive demand, supported mainly by the company's toll processing operations in the U.S. and Mexico, is expected to continue strong at current production rates throughout 2015. The increase in aluminum usage in the automotive industry continues to represent a growth area for Reliance. Aerospace demand continued to improve during Q1 and is expected to continue to grow as 2015 progresses and as "build" rates increase. Heavy industry continues to perform reasonably well. Agricultural and construction equipment have declined but Reliance remains active in these markets. Non-residential construction continues to improve, but remains well below peak levels. Reliance believes that this important end-market will continue to improve throughout 2015. Energy - oil and gas - demand for the products Reliance sells has declined due to the severe drop in oil prices and is expected to remain under pressure throughout 2015.
08:56 EDTRSReliance Steel sees Q2 EPS $1.02-$1.15, consensus $1.10
Reliance expects a modest increase in tons sold in Q2 over Q1, but expects downward pricing will negatively impact average selling prices and margins.
08:54 EDTRSReliance Steel reports Q1 EPS $1.30, consensus $1.02
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April 15, 2015
10:46 EDTRSBofA/Merrill metals/mining/steel analysts hold analyst/industry conference call
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April 14, 2015
10:01 EDTRSOn The Fly: Analyst Downgrade Summary
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07:52 EDTRSReliance Steel downgraded at KeyBanc
As previously reported, KeyBanc downgraded Reliance Steel to Sector Weight from Overweight. The firm downgraded shares to reflected continued weakness in domestic steel prices. KeyBanc still expects a pricing inflection in Q2 but from a lower base and a more subdued rebound.
07:32 EDTRSReliance Steel downgraded to Sector Weight from Overweight at KeyBanc

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