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Stock Market & Financial Investment News

News Breaks
August 25, 2014
11:55 EDTX, STLD, AKS, NUEU.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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October 1, 2014
11:20 EDTXStocks with call strike movement; GPRO X
GoPro (GPRO) January 105 call option implied volatility increased 7% to 50, U.S. Steel (X) October 43 call option implied volatility increased 4% to 44 according to IVolatility.
September 26, 2014
10:01 EDTAKSOn The Fly: Analyst Initiation Summary
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10:01 EDTSTLDOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actuant (ATU) downgraded to Market Perform from Outperform at FBR Capital... Air France-KLM (AFLYY) downgraded to Underperform from Hold at Jefferies... Beacon Roofing (BECN) downgraded at Longbow... China Unicom (CHU) downgraded to Hold from Buy at Deutsche Bank... Erickson (EAC) downgraded at Stifel... H.B. Fuller (FUL) downgraded to Neutral from Overweight at Piper Jaffray... Philip Morris (PM) downgraded at BofA/Merrill... Seadrill (SDRL) downgraded to Sell from Neutral at Goldman... Starwood Property (STWD) downgraded to Neutral from Buy at Compass Point... Steel Dynamics (STLD) resumed with a Neutral from Buy at Citigroup... Vale (VALE) downgraded to Neutral from Buy at Citigroup.
06:18 EDTSTLDSteel Dynamics resumed with a Neutral from Buy at Citigroup
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06:17 EDTAKSAK Steel resumed with a Sell at Citigroup
Citigroup resumed AK Steel with a Sell rating on expectations the company's results will continue to disappoint as steel prices move lower into Q4 and 2015. Citi raised its price target for shares to $3.40 from $2.50.
September 22, 2014
10:16 EDTSTLDOn The Fly: Analyst Initiation Summary
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08:57 EDTSTLDSteel Dynamics reinstated with a Buy at Goldman
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07:45 EDTXU.S. Steel CEO says more radical restructuring may still lie ahead, WSJ reports
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September 19, 2014
13:55 EDTXU.S. Steel price target raised to $53 from $41 at Argus
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07:30 EDTSTLD, NUE, AKS, XRussia's top steelmaker weighs IPO of North American arm, WSJ says
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September 18, 2014
07:42 EDTSTLDSteel Dynamics expects demand trends to remain favorable, says UBS
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07:17 EDTAKSAK Steel reinstated with an Underperform at Credit Suisse
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