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Stock Market & Financial Investment News

News Breaks
August 25, 2014
11:55 EDTNUE, X, AKS, STLDU.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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August 26, 2015
10:11 EDTSTLDHigh option volume stocks
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August 24, 2015
10:32 EDTXU.S. Steel says acted to effectuate hard freeze of some benefits
In a regulatory filing from Friday evening, U.S. Steel disclosed that on August 17, United States Steel Corporation, acted to effectuate a hard freeze of benefits accrued under each of the following plans effective as of December 31, 2015: (i) the United States Steel Corporation Plan for Employee Pension Benefits and each provision, rule part, plan or program thereunder as applicable to non-union employees; (ii) the United States Steel Corporation Non Tax-Qualified Pension Plan; and (iii) the United States Steel Corporation Executive Management Supplemental Pension Program. As a result, from and after December 31 all benefit accruals under each Plan shall cease and no participant in any Plan will receive credit under the Plan for further service to the Corporation or its subsidiaries and the compensation levels resulting from any such further service will not be relevant to the determination of benefits payable under the Plans. The Non Tax-Qualified Plan and the Supplemental Plan provide benefits to Mr. Douglas Matthews, one of our Named Executive Officers. As described above, on August 1 , the Corporation enacted a hard freeze of benefits accrued under its DB Plan effective December 31. Participants of the DB Plan will be transitioned to a defined contribution retirement plan at that time. The Corporation will perform a remeasurement of the DB Plan, and will report these results in its quarterly report on Form 10-Q for the quarter ended September 30.
09:18 EDTXOn The Fly: Pre-market Movers
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August 23, 2015
13:07 EDTXU.S. Steel shares could rally 60% to $28 by late 2016, Barron's says
Shares of U.S. Steel could rise more than 60% to $28 by the end of 2016 as steel prices increase, cost cutting measures take effect, and Chinese imports decline given an import tariff scheduled for November, Barron's contends in a feature article. Reference Link
August 21, 2015
08:26 EDTXU.S. Steel initiated with a Sell at Axiom
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