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Stock Market & Financial Investment News

News Breaks
May 19, 2014
09:58 EDTX, AAU.S. Steel, Alcoa among companies targeted by Chinese hacking, CNBC says
U.S. Steel (X) and Alcoa (AA) were among the companies that were targets in the Chinese hacking allegations to soon be announced by the U.S. government, according to CNBC, citing sources.
News For X;AA From The Last 14 Days
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October 30, 2014
16:00 EDTAAOptions Update; October 30, 2014
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October 29, 2014
11:37 EDTXU.S. Steel rallies after better than expected Q3 results
Shares of integrated steel producer United States Steel (X) are rising after the company’s third quarter results surpassed analysts’ consensus estimates. WHAT'S NEW: Last night, U.S. Steel reported Q3 adjusted earnings per share of $2.16 excluding items and revenue of $4.59B, beating analysts’ consensus estimates of $1.17 and $4.56B, respectively. Adjusted EBITDA for the quarter came in at $611M. President and Chief Executive Officer Mario Longhi said the quarter's results reflect significant improvement in earnings power from the company's Carnegie Way transformation efforts. Longhi noted that the company experienced a significant improvement in total reportable segments and other businesses income from operations in the quarter, the highest level since the steel market peaked in 2008. Longhi said U.S. steel market conditions have remained stable. WHAT'S NOTABLE: Longhi noted that fourth quarter segment income from operations will decrease sequentially, primarily due to significantly lower results for the Flat-rolled segment. The comapny sees Q4 results for the Flat-rolled segment exceeding $100M, but decreasing significantly from Q3. However, Q4 results for the company’s European and Tubular segments are expected to improve slightly compared to the third quarter. PRICE ACTION: In late morning trading, U.S. Steel rose $3.45, or 9.04% to $41.58 on heavy trading volume. Including today's advance, the shares have gained approximately 64% over the past 12 months. OTHERS TO WATCH: Other steel producers include ArcelorMIttal (MT), up 0.2%, AK Steel (AKS), up 2.6%, and Nucor (NUE), down 0.4%
09:42 EDTXActive equity options trading
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09:19 EDTXOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Goodyear Tire (GT), up 10%... Electronic Arts (EA), up 3.7%... ZELTIQ (ZLTQ), up 9%... Eaton (ETN), up 2.3%... Anadarko (APC), up 2%... U.S. Steel (X), up 7.7%... IAC (IACI), up 3.6%. ALSO HIGHER: Fiat Chrysler (FCAU), up 12% after reporting quarterly results, announcing plan to spin off Ferrari... Cara Therapeutics (CARA), up 17.8% after HAL trial of IV formulation of CR845 met primary endpoint... Jamba (JMBA), up 4% after upgraded at Wedbush. DOWN AFTER EARNINGS: Facebook (FB), down 5.7%... Gilead (GILD), down 3.2%... Ralph Lauren (RL), down 2.3%... SodaStream (SODA), down 3%... Garmin (GRMN), down 5%... Applied Micro Circuits (AMCC), down 9.9%... STMicroelectronics (STM), down 10%... Ballard Power (BLDP), down 8.7%... Hershey (HSY), down 3.3%... Deutsche Bank (DB), down 2.3%... McKesson (MCK), down 2%. ALSO LOWER: Sanofi (SNY), down 5.7% after downgraded at various firms including Barclays and BofA/Merrill after the company's board removed Christopher Viehbacher as CEO... InvenSense (INVN), down 22%, downgraded at Pacific Crest, Northland and Piper Jaffray following the company's Q2 earnings results... CareTrust REIT (CTRE), down 3.6% after acquiring Cross Healthcare Seniors housing portfolio... Orbital (ORB), down 16% after Orb-3 launch mishap... American Realty (ARCP), down 22% after announcing resignations of CFO, CAO.
October 28, 2014
18:42 EDTXOn The Fly: After Hours Movers
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17:17 EDTXU.S. Steel up 6% following Q3 results
17:09 EDTXU.S. Steel sees Q4 flat-rolled results down significantly vs. Q3
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17:05 EDTXU.S. Steel sees Q4 segment income from operations to decrease sequentially
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17:04 EDTXU.S. Steel reports Q3 adjusted EBITDA $611M
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17:03 EDTXU.S. Steel reports Q3 adjusted EPS $2.16, consensus $1.17
Reports Q3 revenue $4.59B, consensus $4.56B.
09:20 EDTAAAlcoa to host investor day
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October 27, 2014
10:00 EDTAAOn The Fly: Analyst Upgrade Summary
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05:44 EDTAAAlcoa upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded Alcoa to Buy citing the turnaround in the company's upstream Primary smelting business following the company's Q3 results. Deutsche raised its price target for shares to $20 from $16. The stock closed Friday up 31c to $16.55.
October 23, 2014
16:16 EDTAAAlcoa to sell ownership stake in Mt. Holly Smelter to Century Aluminum
Alcoa (AA) announced that it has reached an agreement to sell its ownership stake in the Mt. Holly aluminum smelter in Goose Creek, South Carolina, to Century Aluminum Company (CENX) for $67.5M in cash, plus an additional potential earn-out. Mt. Holly is owned 50.3% by Alcoa and 49.7% by Century. The sale is subject to customary regulatory approvals, and is expected to close by the end of Q4. Based on current estimates, the transaction will not result in a significant gain or loss to Alcoa.
16:09 EDTAACentury Aluminum to acquire full ownership of Mt. Holly Smelter for $67.5M
Century Aluminum Company (CENX) announced that its wholly owned subsidiary has entered into a definitive agreement to acquire Alcoa's (AA) 50.3% stake in the Mt. Holly aluminum smelter. Mt. Holly, located in Berkeley County, South Carolina, employs approximately 600 people and has an annual production capacity of 229,000 metric tons of primary aluminum. Following the closing of the transaction, Century will own 100% of Mt. Holly. Pursuant to the terms of the agreement, Century will acquire Alumax of South Carolina, a subsidiary of Alcoa and owner of Alcoa's 50.3% interest in Mt. Holly, for $67.5M in cash less certain amounts owed by Alumax to Mt. Holly and subject to working capital and other similar adjustments. The transaction is expected to close in Q4 and is subject to customary closing conditions.
October 21, 2014
11:51 EDTXU.S. to end deal sheltering Russia from flat-rolled steel duties, Reuters says
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October 20, 2014
11:37 EDTXStocks with call strike movement; X TWTR
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October 17, 2014
08:48 EDTXBofA/Merrill global steel analysts hold analyst/industry conference call
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