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Stock Market & Financial Investment News

News Breaks
February 6, 2013
11:25 EDTXUS Steel calls active renewed takeover chatter
US Steel February 24, 25 and 26 calls are active on total call volume of 38K contracts (3K puts) following renewed takeover chatter. February call option implied volatility of 43, March and April is at 39; compared to its 26-week average of 44 according to Track Data. Active call volume suggests traders are positioning for upside price movement.
News For X From The Last 14 Days
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March 27, 2015
10:45 EDTXUS Steel April and May puts active
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March 25, 2015
16:07 EDTXSunCoke says temporary idling doesn’t change U.S. Steel obligations under pact
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14:26 EDTXWells Fargo tells SunCoke investors not to panic
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12:54 EDTXSteel stocks trade higher ahead of Congressional Steel Caucus hearing
Steel manufacturing stocks are trading higher ahead of tomorrow's testimony at a Congressional Steel Caucus hearing. WHAT'S NEW: The United Steelworkers, or USW, will be joining Chief Executive Officers of steel companies and other representatives from the steel industry on Thursday, March 26 on Capitol Hill to testify at a Congressional Steel Caucus hearing on the "State of American Steel." The USW and the steel executives will speak to the state of the steel industry and how policies on trade are impacting manufacturing in the steel industry. WHAT'S NOTABLE: According to the American Iron and Steel Institute, year-to date total and finished steel imports are 7.977M and 6.41M net tons, respectively, up 23% and 36%, respectively, vs. the same period in 2014. In the past month, steelmakers including Nucor (NUE), AK Steel Holding (AKS) and Steel Dynamics (STLD) all issued profit warnings. On March 19, Nucor said "Overall operating performance at the steel mills segment for the first quarter of 2015 is expected to decrease significantly compared to the fourth quarter of 2014," citing lower selling prices and margins resulting from the "exceptionally high level of imports flooding the domestic market." The company also said "Total imports increased 38% in 2014 compared to 2013, with imports accounting for approximately 34% of the total domestic shipments in 2014. Global overcapacity built by state-owned enterprises is the biggest risk factor to our business." This morning, United States Steel Corporation (X) announced plans to consolidate its North American Flat-Rolled operations and temporarily idle its Granite City Works operations. The company noted that the consolidation is a result of challenging market conditions that reflect the cyclical nature of the industry. Global influences in the market like reduced steel prices, unfair trade, imports and fluctuating oil prices, continue to have an impact on the business, the company said. Publicly traded companies in the space including U.S. Steel , AK Steel and Steel Dynamics are all trading higher while Nucor is fractionally lower in midday trading.
11:48 EDTXSteel industry leaders set to testify on import surge, Bloomberg says
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11:28 EDTXEU to impose tariffs on steel from China and Taiwan, Reuters says
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11:14 EDTXSunCoke oversold on U.S. Steel news, says Brean Capital
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11:13 EDTXSunCoke drops after customer announces plans to idle Granite City operations
Shares of SunCoke Energy (SXC) and SunCoke Energy Partners (SXCP) are both sharply lower after U.S. Steel (X), the principal customer of their Granite City cokemaking facility, announced it will consolidate its North American Flat-Rolled operations and temporarily idle its Granite City Works operations. The consolidation is part of an on-going adjustment of steelmaking operations throughout North America to match customer demands, said U.S. Steel, which noted that it routinely adjusts production at its operating facilities to reflect "market fluctuations." In morning trading, Suncoke Energy shares fell 11% to $15.01, while Suncoke Energy Partners dropped 10.25% to $19.87.
10:27 EDTXU.S. Steel responds to OSHA citations
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09:06 EDTXU.S. Steel to consolidate flat-rolled operations
United States Steel announced it will consolidate its North American Flat-Rolled operations and temporarily idle its Granite City Works operations in Granite City, Ill. As the primary flat-roll supplier of Lone Star Tubular Operations, the consolidation is part of an on-going adjustment of steelmaking operations throughout North America to match customer demands. The company said it routinely adjusts production at its operating facilities to reflect market fluctuations. The consolidation is a result of challenging market conditions that reflect the cyclical nature of the industry. Global influences in the market like reduced steel prices, unfair trade, imports and fluctuating oil prices, continue to have an impact on the business. The company will be working closely with its customers through this consolidation. The company will continue to operate its steelmaking operations in Alabama, Indiana, Michigan and Pennsylvania.
March 23, 2015
07:11 EDTXU.S. Steel shares at a discount to asset value, says Macquarie
Macquarie lowered Outperform rated U.S. Steel estimates and reduced its price target to $33 from $48 based on $480 HRC price expectations through the end of the year but said shares trade at a discount to asset value.
March 19, 2015
11:24 EDTXStocks with call strike movement; X RIG
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March 17, 2015
10:45 EDTXStocks with call strike movement; X BBRY
U.S. Steel (X) March 24 call option implied volatility increased 8% to 52, BlackBerry (BBRY) September 11 call option implied volatility decreased 2% to 50 according to IVolatility.

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