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Stock Market & Financial Investment News

News Breaks
June 20, 2014
12:35 EDTMT, NUE, X, STLD, AKSSteelmakers 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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May 21, 2015
11:16 EDTSTLDSteel Dynamics announces planned paint line and Galvalume capability expansion
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May 20, 2015
12:35 EDTAKSAK Steel to pay $1.35M and implement air pollution controls at Michigan facility
The U.S. Department of Justice, the Environmental Protection Agency, and the Michigan Department of Environmental Quality announced that, under a settlement agreement with the U.S. and the state of Michigan, AK Steel will pay a civil penalty of $1.35M for past violations of the Clean Air Act at its Dearborn, Michigan facility, implement a variety of procedures to reduce future violations and install dynamic air filtration systems at the Salina Elementary and Salina Intermediate Schools across Ferney Street from the plant. The consent decree will require AK Steel to develop an environmental management system for the facility with third-party auditing every six months, annually inspect and continuously monitor the performance of the pollution control equipment at the facility’s basic oxygen furnace and implement a fugitive dust control policy to prevent large particulate emissions into the adjacent neighborhoods. Upon full implementation of the consent decree requirements, particulate matter emissions, including metal hazardous air pollutants, should be reduced by approximately 100 tons per year. The settlement was lodged with the U.S. District Court for the Eastern District of Michigan and is subject to a 30-day public comment period and final court approval. Reference Link
May 15, 2015
07:53 EDTMTArclorMittal upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill upgraded ArcelorMittal to Buy and established a $13.75 price target. The firm believes a margin recovery is unfolding in European steel driven by steel export declines out of China and potential trade protectionism in Europe.
May 14, 2015
11:10 EDTMTArcelorMittal calls active on sharp rally
ArcelorMittal June and September 12 calls are active on total call volume of 13K contracts (1K puts). June call option implied volatility is at 37, September is at 35; compared to its 90-day average of 36. Active call volume suggests traders taking positions for large near term price movement.
10:53 EDTMTArcelorMittal gaps up bullishly, levels to watch
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May 13, 2015
05:48 EDTXStocks with implied volatility movement; DHR X
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May 12, 2015
12:52 EDTXOptions with increasing call volume and implied volatility
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10:14 EDTXU.S. Steel moves higher, levels to watch
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10:10 EDTXU.S. Steel call activity attributed to takeover speculation
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10:04 EDTXRumor: U.S. Steel strength attributed to takeover speculation
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08:08 EDTXNow is the time to buy U.S. Steel, says Morgan Stanley
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