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Stock Market & Financial Investment News

News Breaks
June 20, 2014
09:03 EDTNUENucor sees Q2 EPS 35c-40c, consensus 62c
The performance of raw materials segment includes an anticipated operating loss of 6c at new direct reduced iron plant in St. James Parish, Louisiana. The Louisiana DRI plant has continued to exceed volume expectations while producing excellent quality DRI units; however, yield loss remains higher than desired. Nucor expects significant improvements in the performance of the Louisiana DRI facility in the third quarter, with profitable performance anticipated by the end of the year. Overall operating performance at steel mills segment is expected to be slightly improved compared to the first quarter of 2014, as improvements in sheet and plate profitability are partially offset by lower profitability in structural steel. In June, Nucor-Yamato Steel is undergoing a planned three week outage associated with our $115M sheet piling capital project. This planned outage will result in lower shipments for structural steel. Import levels continue to negatively impact pricing and margins, particularly at our bar and sheet mills.
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September 17, 2014
12:08 EDTNUESteel stocks rally as U.S. Steel, Nucor provide improved outlooks
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08:35 EDTNUENucor: Overall operating performance at steel mill improved in Q3
The company said it expects increased profitability in sheet, structural, bar and plate steel. Structural steel had no major outages in the third quarter, as compared to the planned three week outage at Nucor-Yamato Steel in the second quarter associated with our $115M sheet piling capital project. The strongest markets for the steel mills continue to be manufactured goods, including energy and automotive. Though third quarter results are expected to be much improved from the second quarter, imports remain at high levels, applying downward pressure on pricing. The performance of the fabricated construction products businesses is expected to improve compared to the second quarter of 2014, reflecting improving conditions in the nonresidential construction markets. Although nonresidential construction markets are at historically low levels, they are improving. The performance of the raw materials segment includes an anticipated operating loss of $27M at our direct reduced iron plant in St. James Parish, Louisiana.
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.
September 15, 2014
11:00 EDTNUEArcelorMittal, 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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