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Stock Market & Financial Investment News

News Breaks
June 16, 2014
18:01 EDTSTLDSteel Dynamics sees Q2 EPS 28c-32c, consensus 32c
Profitability from the company's steel operations for the second quarter is expected to be higher in comparison to the sequential quarter earnings. Both shipments and metal spreads are expected to improve across the steel operating platform, despite significantly increased import activity. The first quarter winter weather-induced slowdown in the domestic market has subsided. Demand from key steel-consuming end markets is expected to continue to trend favorably, more notably in automotive, manufacturing and construction. Residential construction rebounded as more temperate climate conditions existed. In addition, increased demand for the company's structural steel and fabricated steel joist and decking products suggests the nonresidential construction market is also continuing a positive trend. Second quarter profitability from the company's fabrication operations is expected to continue to increase based on both improved volume and margins. Metals recycling financial results are also expected to improve for the second quarter when compared to the sequential quarter, based on higher shipments more than offsetting ferrous margin deterioration that occurred due to decreased selling values.
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November 18, 2014
06:34 EDTSTLDSteel Dynamics initiated with an Outperform at BMO Capital
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