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News Breaks
July 3, 2013
07:05 EDTX, STLD, NUE, CMCKeyBanc would not be short Steel sector short-term following OCTG petition
Yesterday, numerous domestic carbon tube producers filed a petition with the U.S. Department of Commerce and the International Trade Commissions seeking anti-dumping relief of certain oil country tubular goods, or OCTG, from nine countries. KeyBanc said the petition is a broad positive in regards of industry sentiment, especially for Hold rated U.S. Steel, and could result in other carbon-based product producers to seek protectionist measures if the petition is found to cause injury. The analyst remains selective on Carbon Steel names but would not be short the Steel sector short-term given the potential outcomes of the petition.
News For X;STLD;NUE;CMC From The Last 14 Days
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October 20, 2014
18:04 EDTSTLDSteel Dynamics CEO says the company 'remains optimistic'
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18:02 EDTSTLDSteel Dynamics reports Q3 adjusted EPS 47c, consensus 43c
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18:01 EDTSTLDSteel Dynamics reports Q3 EPS 38c with items, consensus 43c
Reports Q3 revenue $2.34B, consensus $2.14B. Q3 EPS includes the negative impact of approximately 9c per diluted share related to acquisition costs, financing fees, and the effect of purchase accounting adjustments for the Severstal Columbus, LLC acquisition that occurred mid-September.
15:30 EDTSTLDNotable companies reporting after market close
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11:37 EDTXStocks with call strike movement; X TWTR
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October 17, 2014
08:48 EDTSTLD, X, NUE, CMCBofA/Merrill global steel analysts hold analyst/industry conference call
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October 15, 2014
14:41 EDTXMissouri AG Chris Koster announces $266K settlement with U.S. Steel
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October 9, 2014
07:08 EDTXCanadian court approves U.S. Steel division DIP financing, Reuters says
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October 8, 2014
12:17 EDTNUENucor sees Gallatin Steel acquisition immediately accretive to cash flow
Nucor announced that it has closed on its purchase of all the equity of Gallatin Steel Company for approximately $770M. Adjusting for the net present value of the anticipated tax benefits, the realized effective purchase price for Nucor is approximately $630M. The purchase is expected to be immediately accretive to cash flow and accretive to earnings after working through purchase accounting-valued finished goods inventories.

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