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Stock Market & Financial Investment News

News Breaks
June 20, 2014
12:35 EDTNUE, X, STLD, AKS, MTSteelmakers 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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March 25, 2015
11:28 EDTNUE, AKS, X, STLDEU to impose tariffs on steel from China and Taiwan, Reuters says
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11:14 EDTXSunCoke oversold on U.S. Steel news, says Brean Capital
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11:13 EDTXSunCoke drops after customer announces plans to idle Granite City operations
Shares of SunCoke Energy (SXC) and SunCoke Energy Partners (SXCP) are both sharply lower after U.S. Steel (X), the principal customer of their Granite City cokemaking facility, announced it will consolidate its North American Flat-Rolled operations and temporarily idle its Granite City Works operations. The consolidation is part of an on-going adjustment of steelmaking operations throughout North America to match customer demands, said U.S. Steel, which noted that it routinely adjusts production at its operating facilities to reflect "market fluctuations." In morning trading, Suncoke Energy shares fell 11% to $15.01, while Suncoke Energy Partners dropped 10.25% to $19.87.
10:27 EDTXU.S. Steel responds to OSHA citations
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09:06 EDTXU.S. Steel to consolidate flat-rolled operations
United States Steel announced it will consolidate its North American Flat-Rolled operations and temporarily idle its Granite City Works operations in Granite City, Ill. As the primary flat-roll supplier of Lone Star Tubular Operations, the consolidation is part of an on-going adjustment of steelmaking operations throughout North America to match customer demands. The company said it routinely adjusts production at its operating facilities to reflect market fluctuations. The consolidation is a result of challenging market conditions that reflect the cyclical nature of the industry. Global influences in the market like reduced steel prices, unfair trade, imports and fluctuating oil prices, continue to have an impact on the business. The company will be working closely with its customers through this consolidation. The company will continue to operate its steelmaking operations in Alabama, Indiana, Michigan and Pennsylvania.
March 23, 2015
10:00 EDTMT, AKSOn The Fly: Analyst Downgrade Summary
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07:11 EDTXU.S. Steel shares at a discount to asset value, says Macquarie
Macquarie lowered Outperform rated U.S. Steel estimates and reduced its price target to $33 from $48 based on $480 HRC price expectations through the end of the year but said shares trade at a discount to asset value.
06:23 EDTAKSAK Steel downgraded to Neutral from Outperform at Macquarie
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05:32 EDTMTArcelorMittal downgraded to Hold from Buy at Jefferies
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March 20, 2015
09:24 EDTAKSOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Ctrip.com (CTRP), up 20.1%... Rally Software (RALY), up 17.3%... Nike (NKE), up 5.2%... Darden Restaurants (DRI), up 4.3%... Cheetah Mobile (CMCM), up 3.6%. ALSO HIGHER: Prothena (PRTA), up 40.2% after reporting positive results from Phase 1 study of PRX002... Viggle (VGGL), up 26.9% after confirming receipt of offer from chairman and CEO Robert Sillerman... Intercept Pharmaceuticals (ICPT), up 8.5% after announcing new data analyses from FLINT trial... Biogen Idec (BIIB), up 9.7% after presenting positive interim results from study of aducanumab... Pier 1 Imports (PIR), up 5.2% after being upgraded to Outperform from Perform at Oppenheimer... JinkoSolar (JKS), up 2.8% after announcing that it will supply 75 MWdc of its PV solar modules to Red Horse 2 project and following a strategic collaboration agreement with DuPont (DD). DuPont is up just under 1%. DOWN AFTER EARNINGS: AK Steel (AKS), down 6.8%... Youku Tudou (YOKU), down 4.9%... Tiffany (TIF), down 3.3%. ALSO LOWER: Macerich (MAC), down 7.7% after Simon makes $95.50 per share "best and final" offer.
March 19, 2015
18:58 EDTAKSOn The Fly: After Hours Movers
UP AFTER EARNINGS: Mattress Firm (MFRM), up 5.2%... New York & Company (NWY), up 3.1%... Rally Software (RALY), up 1.4%... Nike (NKE), up 4.2%... Youku Tudou (YOKU), up 1%. ALSO HIGHER: Prothena (PRTA), up 39.3% after reporting positive results from Phase 1 study of PRX002... SeaWorld (SEAS), up 1% after naming Joel Manby as president and CEO. DOWN AFTER EARNINGS: AK Steel (AKS), down 9.1%.
17:20 EDTAKSAK Steel down 5% following weaker than expected Q1 guidance
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17:19 EDTAKSAK Steel reports Q1 EPS (23c)-(28c), consensus 1c
AK Steel stated that Q1 EPS has been significantly and negatively impacted by lower than expected carbon steel spot market shipments and prices due to unexpectedly high levels of what it believes are unfairly traded imports. AK Steel expects Q1 shipments of approximately 1.73M tons, a decrease of approximately 14% from 4Q14. AK Steel expects a Q1 average selling price of approximately $995/ton, or about 1% higher than 4Q14. AK Steel expects to benefit in Q1 from lower raw material and energy costs, as well as stable and consistent operations. However, the collective benefit of these items is expected to be significantly out-weighed by the negative financial effects of the shipment volume and selling price declines
11:24 EDTXStocks with call strike movement; X RIG
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10:23 EDTNUEHigh option volume stocks
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09:12 EDTNUENucor sees Q1 operating performance of raw materials to decrease
Cites anticipated operating loss of approximately $37M at Nucor Steel Louisiana and decreased performanced of scrap processing business and natural gas drilling working interests. The production operations of Nucor Steel Louisiana have remained suspended since the equipment failure related to the process gas heater occurred on November 2, 2014. The company is close to completing the necessary repairs and adjustments to the process gas heater, and estimates that Nucor Steel Louisiana will be operational before the end of the first quarter of 2015.
09:11 EDTNUENucor says conditions remain challenging in energy markets
The company commented, "Conditions remain challenging in energy markets, in which the collapse in oil prices and continued high levels of imported oil country tubular goods products has caused an inventory glut in the pipe and tube sector. Automotive markets remain strong and are continuing to improve. We continue to see improving demand in the nonresidential construction markets. Once energy market steel inventories are rebalanced later this year, we expect overall steel demand to meet or exceed levels seen in 2014. The overall operating performance of the downstream products segment for the first quarter of 2015 is expected to decrease from the fourth quarter of 2014 due to typical seasonality experienced in the first quarter; however, the results of the downstream products segment in the first quarter of 2015 are expected to increase over the first quarter of 2014 due to both lower input costs and improved volumes, supporting the resiliency of the slow but steady growth in nonresidential construction markets."
09:10 EDTNUENucor cuts Q1 EPS to 10c-15c, consensus 40c
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08:24 EDTSTLDSteel Dynamics has more upside ahead, says Morgan Stanley
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March 18, 2015
07:10 EDTNUEPlatts to hold a forum
11th Annual Steel Markets North America is being held in Chicago on March 17-18.
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