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Stock Market & Financial Investment News

News Breaks
June 10, 2014
09:08 EDTAKS, XU.S. Steel and AK Steel to benefit from falling input costs, says Goldman
Goldman said U.S. Steel (X) and AK Steel (AKS) will benefit from falling raw material costs, and not passing the savings on to end users, resulting in better margins. The firm reiterates its Buy ratings on both companies.
News For X;AKS From The Last 14 Days
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March 31, 2015
09:04 EDTXU.S. Steel to adjust production at Minntac plant
United States Steel announced it will adjust operations and temporarily idle a portion of its Minnesota Ore Operations – Minntac plant in Mt. Iron, Minn., effective June 1. This action is due to the company's current inventory levels and ongoing adjustment of its steelmaking operations throughout North America. The company will continue to operate Minntac at reduced capacity in order to meet customer demand. The company routinely adjusts production at its operating facilities to reflect market fluctuations. These ongoing operational adjustments are a result of challenging market conditions that reflect the cyclical nature of the industry. Global influences in the market, including a high level of imports, unfairly traded products and reduced steel prices, continue to have an impact. As part of the temporary idling, all employees at Minntac have been advised of the upcoming temporary idling and are being issued notices under the Worker Adjustment and Retraining Notification Act. The number of employees impacted will be based upon operational and, or maintenance needs.
07:31 EDTX, AKSSteel Dynamics added to Analyst Focus List at JPMorgan
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March 27, 2015
10:45 EDTXUS Steel April and May puts active
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March 25, 2015
16:07 EDTXSunCoke says temporary idling doesn’t change U.S. Steel obligations under pact
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14:26 EDTXWells Fargo tells SunCoke investors not to panic
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12:54 EDTX, AKSSteel stocks trade higher ahead of Congressional Steel Caucus hearing
Steel manufacturing stocks are trading higher ahead of tomorrow's testimony at a Congressional Steel Caucus hearing. WHAT'S NEW: The United Steelworkers, or USW, will be joining Chief Executive Officers of steel companies and other representatives from the steel industry on Thursday, March 26 on Capitol Hill to testify at a Congressional Steel Caucus hearing on the "State of American Steel." The USW and the steel executives will speak to the state of the steel industry and how policies on trade are impacting manufacturing in the steel industry. WHAT'S NOTABLE: According to the American Iron and Steel Institute, year-to date total and finished steel imports are 7.977M and 6.41M net tons, respectively, up 23% and 36%, respectively, vs. the same period in 2014. In the past month, steelmakers including Nucor (NUE), AK Steel Holding (AKS) and Steel Dynamics (STLD) all issued profit warnings. On March 19, Nucor said "Overall operating performance at the steel mills segment for the first quarter of 2015 is expected to decrease significantly compared to the fourth quarter of 2014," citing lower selling prices and margins resulting from the "exceptionally high level of imports flooding the domestic market." The company also said "Total imports increased 38% in 2014 compared to 2013, with imports accounting for approximately 34% of the total domestic shipments in 2014. Global overcapacity built by state-owned enterprises is the biggest risk factor to our business." This morning, United States Steel Corporation (X) announced plans to consolidate its North American Flat-Rolled operations and temporarily idle its Granite City Works operations. The company noted that the consolidation is a result of challenging market conditions that reflect the cyclical nature of the industry. Global influences in the market like reduced steel prices, unfair trade, imports and fluctuating oil prices, continue to have an impact on the business, the company said. Publicly traded companies in the space including U.S. Steel , AK Steel and Steel Dynamics are all trading higher while Nucor is fractionally lower in midday trading.
11:48 EDTAKS, XSteel industry leaders set to testify on import surge, Bloomberg says
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11:28 EDTAKS, XEU to impose tariffs on steel from China and Taiwan, Reuters says
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11:14 EDTXSunCoke oversold on U.S. Steel news, says Brean Capital
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11:13 EDTXSunCoke drops after customer announces plans to idle Granite City operations
Shares of SunCoke Energy (SXC) and SunCoke Energy Partners (SXCP) are both sharply lower after U.S. Steel (X), the principal customer of their Granite City cokemaking facility, announced it will consolidate its North American Flat-Rolled operations and temporarily idle its Granite City Works operations. The consolidation is part of an on-going adjustment of steelmaking operations throughout North America to match customer demands, said U.S. Steel, which noted that it routinely adjusts production at its operating facilities to reflect "market fluctuations." In morning trading, Suncoke Energy shares fell 11% to $15.01, while Suncoke Energy Partners dropped 10.25% to $19.87.
10:27 EDTXU.S. Steel responds to OSHA citations
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09:06 EDTXU.S. Steel to consolidate flat-rolled operations
United States Steel announced it will consolidate its North American Flat-Rolled operations and temporarily idle its Granite City Works operations in Granite City, Ill. As the primary flat-roll supplier of Lone Star Tubular Operations, the consolidation is part of an on-going adjustment of steelmaking operations throughout North America to match customer demands. The company said it routinely adjusts production at its operating facilities to reflect market fluctuations. The consolidation is a result of challenging market conditions that reflect the cyclical nature of the industry. Global influences in the market like reduced steel prices, unfair trade, imports and fluctuating oil prices, continue to have an impact on the business. The company will be working closely with its customers through this consolidation. The company will continue to operate its steelmaking operations in Alabama, Indiana, Michigan and Pennsylvania.
March 23, 2015
10:00 EDTAKSOn The Fly: Analyst Downgrade Summary
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07:11 EDTXU.S. Steel shares at a discount to asset value, says Macquarie
Macquarie lowered Outperform rated U.S. Steel estimates and reduced its price target to $33 from $48 based on $480 HRC price expectations through the end of the year but said shares trade at a discount to asset value.
06:23 EDTAKSAK Steel downgraded to Neutral from Outperform at Macquarie
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March 20, 2015
09:24 EDTAKSOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Ctrip.com (CTRP), up 20.1%... Rally Software (RALY), up 17.3%... Nike (NKE), up 5.2%... Darden Restaurants (DRI), up 4.3%... Cheetah Mobile (CMCM), up 3.6%. ALSO HIGHER: Prothena (PRTA), up 40.2% after reporting positive results from Phase 1 study of PRX002... Viggle (VGGL), up 26.9% after confirming receipt of offer from chairman and CEO Robert Sillerman... Intercept Pharmaceuticals (ICPT), up 8.5% after announcing new data analyses from FLINT trial... Biogen Idec (BIIB), up 9.7% after presenting positive interim results from study of aducanumab... Pier 1 Imports (PIR), up 5.2% after being upgraded to Outperform from Perform at Oppenheimer... JinkoSolar (JKS), up 2.8% after announcing that it will supply 75 MWdc of its PV solar modules to Red Horse 2 project and following a strategic collaboration agreement with DuPont (DD). DuPont is up just under 1%. DOWN AFTER EARNINGS: AK Steel (AKS), down 6.8%... Youku Tudou (YOKU), down 4.9%... Tiffany (TIF), down 3.3%. ALSO LOWER: Macerich (MAC), down 7.7% after Simon makes $95.50 per share "best and final" offer.
March 19, 2015
18:58 EDTAKSOn The Fly: After Hours Movers
UP AFTER EARNINGS: Mattress Firm (MFRM), up 5.2%... New York & Company (NWY), up 3.1%... Rally Software (RALY), up 1.4%... Nike (NKE), up 4.2%... Youku Tudou (YOKU), up 1%. ALSO HIGHER: Prothena (PRTA), up 39.3% after reporting positive results from Phase 1 study of PRX002... SeaWorld (SEAS), up 1% after naming Joel Manby as president and CEO. DOWN AFTER EARNINGS: AK Steel (AKS), down 9.1%.
17:20 EDTAKSAK Steel down 5% following weaker than expected Q1 guidance
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17:19 EDTAKSAK Steel reports Q1 EPS (23c)-(28c), consensus 1c
AK Steel stated that Q1 EPS has been significantly and negatively impacted by lower than expected carbon steel spot market shipments and prices due to unexpectedly high levels of what it believes are unfairly traded imports. AK Steel expects Q1 shipments of approximately 1.73M tons, a decrease of approximately 14% from 4Q14. AK Steel expects a Q1 average selling price of approximately $995/ton, or about 1% higher than 4Q14. AK Steel expects to benefit in Q1 from lower raw material and energy costs, as well as stable and consistent operations. However, the collective benefit of these items is expected to be significantly out-weighed by the negative financial effects of the shipment volume and selling price declines
11:24 EDTXStocks with call strike movement; X RIG
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