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Stock Market & Financial Investment News

News Breaks
August 25, 2014
11:55 EDTSTLD, NUE, X, AKSU.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.
News For X;STLD;AKS;NUE From The Last 14 Days
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July 29, 2015
06:35 EDTAKSAK Steel upgraded to Outperform from Neutral at Macquarie
Macquarie upgraded AK Steel to Outperform with a $4.80. The firm expects AK Steel to benefit from falling input costs and unit operating expenses while steel pricing and volumes recover as steel imports decline.
05:12 EDTXU.S. Steel down 4.1% after reporting Q2 results
05:12 EDTXU.S. Steel sees FY15 adjusted EBITDA $700M-$900M
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05:10 EDTXU.S. Steel reports Q2 EPS with-items ($1.79), may not compare to consensus (10c)
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July 28, 2015
11:38 EDTAKSAK Steel says trade cases are already showing benefits
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11:35 EDTAKSAK Steel sees level of unfairly traded products declining
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11:34 EDTAKSAK Steel sees less cash requirements for 2015 than prior year
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10:33 EDTX, STLD, NUE, AKSAK Steel, other producers file trade cases related to cold-rolled steel
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08:32 EDTAKSAK Steel expects 'improved results' for Q3 and 2H15
The company commented, "Chief among these reasons are anticipated higher shipments, improving carbon steel spot market prices, increased production levels resulting in lower per ton operating costs, and the continuing benefit of lower raw materials costs, in particular, iron ore. The company expects shipments to customers in its largest market, automotive, to remain strong. In addition, the company expects the level of what the company believes are unfairly traded imports of carbon steel products will continue to decline in the second-half of the year, principally because of the pending and anticipated future steel industry trade cases, resulting in increased domestic steel shipments and a continuing improving trend in selling prices."
08:32 EDTAKSAK Steel reports Q2 shipments 1.81M tons vs. $1.40M tons last year
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08:31 EDTAKSAK Steel reports Q2 EPS (36c), consensus (37c)
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July 24, 2015
09:03 EDTSTLDSteel Dynamics awarded $10M solar contract
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07:02 EDTXU.S. Steel July weekly volatility elevated into Q2 and outlook
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July 23, 2015
09:03 EDTNUENucor reports Q2 average sales price ton down 8%
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09:02 EDTNUENucor reports Q2 EPS 39c, consensus 26c
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July 20, 2015
18:04 EDTSTLDSteel Dynamics reports Q2 cash flow from operations of $309M
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18:02 EDTSTLDSteel Dynamics sees 'improved financial results' in 2H15
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18:01 EDTSTLDSteel Dynamics reports Q2 adjusted EPS 22c, consensus 22c
Reports Q2 revenue $2.01B, consensus $1.98B.
15:01 EDTSTLDNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include IBM (IBM), consensus $3.78... Canadian National Railway (CNI), consensus $1.05... Crown Holdings (CCK), consensus $1.01... Zions Bancorp (ZION), consensus 38c... Hexcel (HXL), consensus 61c... Brown & Brown (BRO), consensus 44c... Steel Dynamics (STLD), consensus 22c... Werner (WERN), consensus 42c.
13:20 EDTAKSOptions with increasing put volume: CPN AKS HST BEN TTM
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