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Stock Market & Financial Investment News

News Breaks
November 27, 2012
19:55 EDTPKX, MT, NUE, CLF, X, STLDGlobal steel production capacity exceeds orders taken, WSJ reports
Global steel mills have the capacity to produce 1.8B tons of steel annually, but will only take orders for 1.5B tons of steel this year, and it is expected that by 2016 an additional 100 new mills with a total production capacity of 350M tons will be operable, according to a Wall Street Journal report. The report notes that the world's five biggest steel companies control just 18.2% of the world's supply, compared to 50.6% in the auto industry, and that government-backing of many steel mills has made consolidation difficult for steel majors. Reference Link
News For PKX;MT;NUE;CLF;X;STLD From The Last 14 Days
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July 25, 2014
07:11 EDTXUS Steel August weekly volatility elevated into Q2 and demand outlook
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July 24, 2014
14:56 EDTNUENucor continues to see FY14 CapEx approximately $600M
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10:30 EDTCLFCliffs Natural backs FY CapEx view $275M-$325M
Says recommendations of proxy firms "clear and unanimous" that Casablanca nominees "should not constitute majority of Cliffs board." Says now is not the time to liquidate assets. Lowering FY CapEx spending about 65% from 2013 levels. Says will continue reviewing opportunities to further reduce CapEx spending without compromising production or safety. Says coal market conditions remain challenging. Says idling Pinnacle Mine "increasingly likely" given current market conditions. Sees cash tax rate 24% for FY. Sees cost cutting, asset optimization plans continuing. Comments made on the Q2 earnings conference call.
09:24 EDTCLFCliffs Natural notes revied Glass Lewis recommendation
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09:04 EDTNUENucor expects to see stronger improvement in earnings for Q3
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09:03 EDTNUENucor reports Q2 total tons shipped to outside customers was 6.37M tons
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09:03 EDTNUENucor reports Q2 EPS 46c, consensus 41c
Reports Q2 revenue $5.29B, consensus $5.21B
08:24 EDTCLFCasablance urges Cliffs investors to disregard Glass Lewis's recommendation
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July 23, 2014
18:34 EDTCLFOn The Fly: After Hours Movers
UP AFTER EARNINGS: Fortinet (FTNT), up 7.8%... Hanesbrands (HBI), up 5.4%... 8x8 (EGHT), up 5.1%... Infinera (INFN), up 4.9%... Facebook (FB), reverses and is now trading up 5.1% following second quarter earnings conference call. NOTABLE: Twitter (TWTR), up 1.7%, LinkedIn (LNKD), up marginally, and Yelp (YELP), up 1.6% after Facebook reports second quarter results. ALSO HIGHER: Spectranetics (SPNC), up 7.1% after receiving FDA clearance for atherectomy products, Turbo-Tandem and Turbo Elite... Ariad Pharmaceuticals (ARIA), up 7.1%... Jamba (JMBA), up 3.8% after Engaged Capital reports stake in the company and announced that they had discussions with management. DOWN AFTER EARNINGS: AT&T (T), down 1.2%... Angie's List (ANGI), down 16.4%... Tripadvisor (TRIP), down 11.5%... Orchids Paper (TIS), down 7.4%... Cirrus Logic (CRUS), down 6.6%... Cliffs Natural (CLF), down 1.2%... Teradyne (TER), down 4%. ALSO LOWER: Kandi Technologies (KNDI), down 3.8% after being mentioned negatively in a Seeking Alpha blog post.
16:44 EDTCLFCliffs Natural lowers U.S. iron ore production view to low end of prior outlook
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16:39 EDTCLFCliffs Natural reports Q2 EPS (1c), consensus (6c)
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July 22, 2014
07:52 EDTSTLDSteel Dynamics shares can advance further, says Wells Fargo
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July 21, 2014
18:02 EDTSTLDSteel Dynamics reports Q2 EPS 31c, consensus 31c
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14:18 EDTCLFCliffs Natural July weekly volatility increases into Q2
Cleveland Cliffs July weekly call option implied volatility is at 83, August is at 58, September is at 57, January is at 43; compared to its 26-week average of 46 according to Track Data, suggesting larger near term price movement into the expected release of Q2 results on July 24.
12:11 EDTCLFStocks with call strike movement; PBR CLF
Petrobras (PBR) October 20 call option implied volatility increased 3% to 44, Cliffs Natural (CLF) October 17 call option implied volatility increased 7% to 48 according to IVolatility
10:31 EDTSTLDHigh option volume stocks:
High option volume stocks: EZPW LCI STLD SIAL FL OREX CROX NIHD EXTR BBT
08:07 EDTCLFCliffs Natural urges vote in favor of seven Cliffs nominees
Cliffs Natural Resources issued an open letter to shareholders in connection with its upcoming 2014 Annual Meeting of Shareholders, stating in part: "Cliffs' July 29 Annual Meeting of Shareholders is right around the corner and you have an important and strategic choice to make regarding the composition of the Cliffs Board and the future direction of your company. Last week, Cliffs announced that we reduced our slate from nine to seven candidates in order to provide shareholders with a clear path to vote consistently with the recommendations of Institutional Shareholder Services and Glass Lewis & Co without inadvertently providing Casablanca Capital with a majority of the Board of Directors as a result of Cliffs' cumulative voting provision... Surrendering a majority of the Board will enable Casablanca to enact what we believe is a value-destructive plan, including a "fire sale" of Cliffs' assets at the bottom of the commodity cycle."
06:51 EDTSTLDSteel Dynamics to host conference call
Conference call to discuss agreement to acquire Severstal Columbus will be held on July 21 at 9:30 am. Webcast Link
05:23 EDTSTLDSteel Dynamics to acquire Severstal Columbus for $1.63B
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July 20, 2014
13:15 EDTSTLDSeverstal close to U.S. plant sales to Steel Dynamics, AK Steel, Bloomberg says
Russian steelmaker OAO Severstal is set to sell two U.S plants to Steel Dynamics (STLD) and AK Steel (AKS) in a deal that may value the assets at just over $2B, says Bloomberg. Reference Link
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