New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 20, 2014
12:35 EDTSTLD, AKS, MT, NUE, XSteelmakers 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
Sign up for a free trial to see the rest of the stories you've been missing.
April 20, 2015
18:04 EDTSTLDSteel Dynamics sees Q2 being 'transitional'
Mark Millett, CEO of Steel Dynamics stated, "As the expected reduction in steel import volume and sustained lower scrap costs occur, we anticipate improved results in Q2, and throughout the remainder of the year. We believe Q2 will be transitional, and the timing of recovery may be later in the quarter than originally anticipated, as imports have not declined as quickly as originally anticipated, but we are seeing positive signs. While we continue to strengthen our financial position through strong cash flow generation, and execute our long-term strategy, we are well-positioned to grow. Customer focus, coupled with our market diversification and low-cost operating platforms, support our ability to maintain our best-in-class performance. We believe we are poised to capitalize on meaningful growth opportunities, both near-term and in the future, that will benefit our customers, shareholders, employees and communities."
18:02 EDTSTLDSteel Dynamics reports Q1 adjusted EPS 17c, consensus 15c
Subscribe for More Information
15:37 EDTSTLDNotable companies reporting after market close
Subscribe for More Information
April 17, 2015
10:00 EDTMTOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
05:20 EDTMTArcelorMittal downgraded to Underperform from Neutral at Exane BNP Paribas
Subscribe for More Information
April 15, 2015
15:25 EDTXU.S. Steel makes management changes at European and North American operations
U.S. Steel announced two management changes at its European and North American operating facilities. Scott Buckiso has been named vice president European Solutions and president U. S. Steel Kosice, succeeding George Babcoke, who has elected to retire following 39 years of service with the company. Amy Smith-Yoder will succeed Buckiso as general manager Mon Valley Works. The changes are effective May 31. In his new role, Buckiso will assume executive responsibility for the company's operations in the Slovak Republic.
11:33 EDTAKSAK Steel announces the retirement of Chief Legal and Administrative Officer
Subscribe for More Information
10:46 EDTX, STLD, NUE, AKSBofA/Merrill metals/mining/steel analysts hold analyst/industry conference call
Subscribe for More Information
10:36 EDTXBofA/Merrill U.S. credit analysts hold an analyst/industry conference call
Subscribe for More Information
09:17 EDTXU.S. Steel makes management changes at European and North American operations
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use