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Stock Market & Financial Investment News

News Breaks
February 11, 2014
05:50 EDTX, STLDU.S. Steel downgraded to Sell from Neutral at Citigroup
Citigroup downgraded U.S. Steel (X) to Sell citing falling steel prices and lowered its price target for shares to $23 from $28. Citi recommends a pair trade of buying Steel Dynamics (STLD) and selling U.S. Steel.
News For X;STLD From The Last 14 Days
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June 30, 2015
14:34 EDTXIron ore producers slide after Australia cuts price target on the commodity
Shares of iron ore producers are falling after Reuters reported that Australia reduced its 2015 price forecast for iron ore to $54.40 a tonne from $60.40 a tonne. According to Reuters, Australia's current projection on iron ore prices is based on its view that China, the commodity's main market, will produce less steel in 2015 and 2016 as as the seaborne supply of iron ore increases. PRICE ACTION: Cliffs Natural Resources (CLF) is down over 10%, BHP Billiton (BHP) is lower by 2.3%, and Vale (VALE) is down 4% in afternoon trading. Steel stocks, including United States Steel (X), AK Steel Holding (AKS), and Nuco (NUE) are also sliding in afternoon trading.
June 25, 2015
10:42 EDTXU.S. Steel June weekly calls active
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June 22, 2015
12:33 EDTSTLD, XSteel stocks lag market after AK Steel sees Q2 results hindered by imports
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07:32 EDTSTLDSteel Dynamics sees Q2 steel ops profitability to be similar to Q1
Improved second quarter 2015 shipments will be offset by unexpected metal margin compression, driven by steel imports remaining much higher than originally anticipated, resulting in average quarterly steel prices decreasing more than average quarterly scrap prices. The benefit of reduced scrap pricing was realized in the second quarter; but, the continued flood of steel imports thus far in 2015 continued to pressure steel product pricing to a greater degree. However, steel pricing has recently begun to stabilize and domestic steel demand remains solid. Continued demand for the company's fabricated steel joist and decking products indicates the non-residential construction market is continuing a positive trend. Second quarter 2015 profitability from the company's fabrication operations is expected to be higher than near-record sequential first quarter 2015 results. Metals recycling financial results are also expected to be higher for the second quarter 2015, compared to the sequential first quarter, based on both increased shipments and metal margin, as pricing volatility subsided.
07:31 EDTSTLDSteel Dynamics sees Q2 adjusted EPS 20c-24c, consensus 24c
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June 18, 2015
07:51 EDTSTLDSteel Dynamics reiterated as a top pick in steel sector at Cowen
Cowen reiterated Steel Dynamics as a top pick in the steel sector, citing the potential for efficiency improvements in its Columbus mill, strong demand and the falling rate of imports. Cowen reiterated its Outperform rating and $27 price target on Steel Dynamics shares.
June 17, 2015
19:55 EDTXU.S. Steel CEO: 'everything on the table' in trying to save company, WSJ says
U.S. Steel CEO Mario Longhi stated that "everything is on the table," including layoffs and changes to its manufacturing process, in trying to save the company, reports the Wall Street Journal. Reference Link

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