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Stock Market & Financial Investment News

News Breaks
June 20, 2014
12:35 EDTNUE, AKS, X, MT, STLDSteelmakers fall after Nucor, AK Steel profit warnings
Shares of steel makers Nucor Corporation (NUE) and AK Steel (AKS) are declining after the companies pre-announced lower than expected second quarter earnings per share. WHAT'S NEW: Nucor earlier today provided Q2 EPS guidance of 35c-40c, versus analysts' consensus estimate of 62c. The company said that the operating performance of its steel mills had been weakened by a decline in the profitability of its structural steel. Meanwhile, yield loss at Nucor's new direct reduced iron plant in St. James Parish, Louisiana is expected to reduce its Q2 operating EPS by 6c, the company stated. AK Steel expects to report a (2c)-(6c) per share loss for Q2, excluding the impact of losses on derivatives, the company reported last night. Analysts on average had expected the company to report a 10c per share profit. The company cited the harsh winter weather and hedging losses as reasons for its lower than expected Q2 profit. The steel maker expects its hedging losses to be "substantially offset" in the second half of the year by lower commodities costs or hedging gains. OTHERS TO WATCH: Other steel makers include U.S. Steel (X), ArcelorMittal (MT) and Steel Dynamics (STLD) PRICE ACTION: In early afternoon trading, Nucor declined 87c, or 1.7%, to $50.81, while ArcelorMittal was down nearly 1% and U.S. Steel was down 0.3%. However, shares of AK Steel were up 13c, or 1.8%, to $7.57 and Steel Dynamics was up 0.4%.
News For NUE;AKS;X;MT;STLD From The Last 14 Days
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September 17, 2014
08:33 EDTXU.S. Steel price target raised to $58 from $47 at Goldman
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08:32 EDTNUENucor sees Q3 EPS 70c-75c, consensus 61c
Projected Q3 results include estimated LIFO credit of $14.5M. Included in the projected third quarter results is an estimated $12M related to the partial write down of assets within the steel mills segment.
08:19 EDTXU.S. Steel remains top pick in steel space, says Cowen
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06:18 EDTXU.S. Steel volatility expected to move after updating Q3 outlook
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September 16, 2014
18:30 EDTXOn The Fly: After Hours Movers
UP AFTER EARNINGS: Apogee Enterprises (APOG), up 5.6% after reporting second quarter results and raising fiscal 2015 guidance. ALSO HIGHER: InspireMD (NSPR), up 18.5% after reporting positive trial results for CGuard... Boeing (BA), up marginally after NASA awarded the company with a $4.2B contract for commercial spaceflight to the International Space Station... U.S. Steel (X), up 7.9%% after updating third quarter outlook. DOWN AFTER EARNINGS: Adobe (ADBE), down 4.5% following third quarter results. ALSO LOWER: Rackspace Hosting (RAX), down 16.7% after ending strategic review and deciding to stay independent... Sunoco Logistics Partners (SXL), down 3.9% after filing to sell 7.7M shares of common stock... Aratana Therapeutics (PETX), down 7.8% after filing to sell common stock.
18:20 EDTXU.S. Steel up nearly 8% in after hours following Q3 update, strategic actions
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18:17 EDTXU.S. Steel sees Q3 ex-items EPS 'significantly higher' than current consensus
Consensus for Q3 EPS is 89c.
18:14 EDTXU.S. Steel updates Q3 outlook, sees significant improvement in operating income
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18:09 EDTXU.S. Steel announces decision to not proceed with Keewatin, Gary Works expansion
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14:34 EDTAKSAK Steel sees Severstal Dearborn acquisition accretive to earnings
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September 15, 2014
11:00 EDTMT, NUEArcelorMittal, Gerdau sell Gallatin Steel facility for $770M
ArcelorMittal (MT) and Gerdau (GGB) jointly announced that they have entered into a definitive transaction agreement to sell their respective 50% interests in Gallatin Steel to Nucor (NUE) for a total cash consideration of $770M, subject to customary closing adjustments. Completion of the sale is subject to customary closing conditions, including expiration of the Hart Scott Rodino Antitrust Improvements Act waiting period. The closing of the transaction is not subject to any financing conditions and is expected to be realized by the end of 2014. Reference Link
08:33 EDTNUENucor agrees to acquire Gallatin Steel for $770M
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September 12, 2014
14:44 EDTXU.S. Steel receives final approval for Minntac expansion
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September 11, 2014
08:04 EDTAKSAK Steel 35M share Secondary priced at $9.00
BofA/Merrill, Credit Suisse and JPMorgan acted as joint book running managers for the offering.
September 10, 2014
10:00 EDTMTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: African Barrick Gold (ABGLY) upgraded to Neutral from Sell at Goldman... ArcelorMittal (MT) upgraded to Overweight from Underweight at Barclays... CRH Plc. (CRH) upgraded to Outperform from Underperform at Raymond James... Callon Petroleum (CPE) upgraded to Buy from Neutral at SunTrust... Coach (COH) upgraded to Overweight from Neutral at Atlantic Equities... Hartford Financial (HIG) upgraded to Outperform from Market Perform at FBR Capital... Huntsman (HUN) upgraded to Buy from Neutral at Citigroup... Imperva (IMPV) upgraded to Outperform from Perform at Oppenheimer... L Brands (LB) upgraded at Credit Suisse... Marcus (MCS) upgraded to Buy from Neutral at B. Riley... Noodles & Company (NDLS) upgraded to Buy from Neutral at UBS... Sunoco Logistics (SXL) upgraded to Overweight from Equal Weight at Barclays... Triangle Petroleum (TPLM) upgraded to Buy from Accumulate at KLR Group... Twitter (TWTR) upgraded to Buy from Neutral at UBS.
09:38 EDTXActive equity options trading on open
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05:29 EDTMTArcelorMittal upgraded to Overweight from Underweight at Barclays
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September 9, 2014
10:10 EDTMTOn the Fly: Analyst Upgrade Summary
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05:23 EDTMTArcelorMittal upgraded to Outperform from Neutral at Credit Suisse
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September 8, 2014
06:51 EDTAKSAK Steel files to sell 35M shares of common stock
The joint book-running managers for the common stock offering are BofA Merrill Lynch, Credit Suisse and J.P. Morgan. The joint book-running managers for the notes offering are Credit Suisse, Citigroup and J.P. Morgan.
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