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Stock Market & Financial Investment News

News Breaks
October 3, 2012
08:54 EDTRSReliance Steel acquires Sunbelt Steel Texas
Reliance Steel has acquired all the outstanding limited liability company interests of Sunbelt Steel Texas, a value-added distributor of special alloy steel bar and heavy-wall tubing products to the oil and gas industry, effective October 1. Net sales of Sunbelt for 2011 were approximately $48M. Sunbelt will operate as a wholly-owned subsidiary of Reliance Steel. Current management will remain in place. Terms were not disclosed.
News For RS From The Last 14 Days
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October 24, 2014
10:03 EDTRSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Align Technology (ALGN) upgraded to Buy from Hold at Jefferies... Brandywine Realty (BDN) upgraded to Buy from Hold at Stifel... Buffalo Wild Wings (BWLD) upgraded to Buy from Hold at Feltl... Carpenter Technology (CRS) upgraded to Overweight from Neutral at JPMorgan... Check Point (CHKP) upgraded to Buy from Hold at Needham... Diamond Offshore (DO) upgraded at ISI Group... Digital Realty (DLR) upgraded to Market Perform from Underperform at Cowen... EQT Corporation (EQT) upgraded to Buy from Neutral at SunTrust... Education Realty (EDR) upgraded to Buy from Hold at MLV & Co.... Gigamon (GIMO) upgraded to Neutral from Underperform at BofA/Merrill... Halliburton (HAL) upgraded to Buy from Neutral at Citigroup... Invacare (IVC) upgraded at KeyBanc... Knight Transportation (KNX) upgraded to Neutral from Underperform at Credit Suisse... Logitech (LOGI) upgraded to Buy from Neutral at UBS... Lorillard (LO) upgraded to Market Perform from Underperform at Cowen... Maxim Integrated (MXIM) upgraded to Buy from Hold at Deutsche Bank... NCR Corp. (NCR) upgraded to Neutral from Sell at Goldman... Nabors Industries (NBR) upgraded to Buy from Hold at Argus... Nucor (NUE) upgraded to Outperform from Underperform at CLSA... Old National Bancorp (ONB) upgraded to Buy from Neutral at DA Davidson... Plexus (PLXS) upgraded to Outperform from Market Perform at Raymond James... Potash (POT) upgraded to Buy from Hold at TD Securities... Reliance Steel (RS) upgraded to Buy from Hold at Jefferies... ResMed (RMD) upgraded to Outperform from Market Perform at William Blair... Royal Dutch Shell (RDS.A) upgraded to Buy from Neutral at UBS... Swift Transport (SWFT) upgraded to Buy from Hold at Stifel... Vulcan Materials (VMC) upgraded to Overweight from Equal Weight at Stephens... Weatherford (WFT) upgraded to Buy from Neutral at Citigroup.
09:36 EDTRS, RSReliance Steel upgraded to Buy from Underperform at CLSA
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05:40 EDTRSReliance Steel upgraded to Buy from Hold at Jefferies
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October 23, 2014
08:53 EDTRSReliance Steel sees Q4 non-GAAP EPS $1.00-$1.10, consensus $1.18
Reliance expects the U.S. economy to maintain its slow but steady recovery. Due to normal fourth quarter seasonality associated with fewer shipping days resulting from the holiday season as well as extended holiday-related closures at many of its customers' facilities, Reliance expects lower tons sold in the fourth quarter of 2014 than in the third quarter. Pricing is also expected to decline somewhat in the fourth quarter given current weakness in many carbon steel products as well as decreasing nickel prices.
08:52 EDTRSReliance Steel: Energy demand strengthened in Q3, to improve into 2015
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08:52 EDTRSReliance Steel: Q3 increased volume reflects steady improvement in demand
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08:51 EDTRSReliance Steel reports Q3 tons sold up 6.4%
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08:50 EDTRSReliance Steel reports Q3 non-GAAP EPS $1.33, consensus $1.35
Reports Q3 revenue $2.71B, consensus $2.67B

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