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Stock Market & Financial Investment News

News Breaks
September 17, 2013
18:05 EDTSTLDSteel Dynamics sees 4c per share loss in Q3 on Minnesota operations
Steel Dynamics said the impact of anticipated losses from the company's Minnesota operations for Q3 is expected to be approximately 4c per diluted share, similar to the impact in Q2. Production rates and plant availability continue to improve and are meeting current expectations, the company said. Steel Dynamics also said the automotive and manufacturing markets remain strong, and the residential construction market continues to show signs of improvement, positivity impacting demand for the company's painted and Galvalume sheet products. Metals recycling financial results are expected to be lower for Q3 when compared to Q2, as anticipated increases in ferrous and nonferrous shipments are expected to be more than offset by decreased ferrous margin.
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August 25, 2014
11:55 EDTSTLDU.S. Steel gains after Credit Suisse upgrades on pricing outlook
Shares of U.S. Steel (X) are climbing after Credit Suisse upgraded the stock by two notches, saying that the company should benefit from an improved pricing environment and raw material cost advantages. WHAT'S NEW: An increase in U.S. demand for steel, along with tariffs that have been imposed on foreign steel producers and the possibility that additional tariffs will be imposed, are keeping U.S. steel prices far higher than previously anticipated, Credit Suisse analyst Nathan Littlewood wrote in a note to investors earlier today. Additionally, production at a number of American steel mills has been curtailed, the analyst stated. Moreover, U.S. Steel can obtain raw materials relatively cheaply, enabling it to produce some of the lowest cost steel in North America, Littlewood stated. U.S. Steel should become one of the most profitable steel makers in the world, according to Littlewood, who upgraded his rating on the shares to Outperform from Underperform and hiked his price target on the stock to $50 from $25. WHAT'S NOTABLE: Littlewood downgraded his rating on another name in the sector, Steel Dynamics (STLD), to Neutral from Outperform. Although the company has a high quality business, the recent outperformance by the stock caused the analyst to downgrade the name. Littlewood kept a $23 price target on the shares. On Friday, UBS wrote that the threat of new tariffs on imported steel could prevent U.S. steel prices from dropping significantly. The filing of requests for additional tariffs on foreign steel, or even the threat of such filings, could keep steel prices from declining in the short-term, the firm predicted. UBS upgraded AK Steel (AKS) to Neutral from Sell, while raising its price target on Nucor (NUE) to $11 from $6 and keeping a Buy rating on that stock. The firm raised its price target on U.S. Steel to $38 from $28 but kept a Neutral rating on the shares. PRICE ACTION: In late morning trading, U.S. Steel advanced 2.6% to $38.81, Steel Dynamics lost 0.3% to $23.24, AK Steel gained 2% to $10.89, and Nucor climbed 1% to $54.23.
10:00 EDTSTLDOn The Fly: Analyst Downgrade Summary
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06:02 EDTSTLDSteel Dynamics downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse downgraded Steel Dynamics to Neutral due to valuation. Price target remains $23.
August 22, 2014
10:42 EDTSTLDAnalyst says tariff threat could protect steelmakers
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07:01 EDTSTLDSteel price outlook raised at UBS
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