Steel

Peabody Energy (NYSE: BTU) and ArcelorMittal (NYSE: MT) today announced that PEAMCoal has agreed to terms with the Macarthur board for a cash takeover of all outstanding shares of Macarthur Coal for A$16.001 per share, valuing the equity in Macarthur at approximately A$4.8 billion. All...

Peabody Energy (NYSE: BTU) and ArcelorMittal (NYSE: MT), today announced that PEAMCoal has agreed to terms with the Macarthur board for a cash takeover of all outstanding shares of Macarthur Coal for A$16.00(1) per share, valuing the equity in Macarthur at approximately A$4.8 billion. All...

At 10:05 am, the Dow rose 1.49% to 11,453.01, the broader Standard & Poor's 500 index moved up 1.65% to 1,196.25 and the NASDAQ composite index gained 1.82% to 2,525.00. The industries that are driving the market today are: Semiconductor- Memory Chips: This industry jumped 4.63% by 10:05 am....

According to Bank of America, AK Steel (NYSE: AKS) price target is lowered to $9.50. Bank of America said that AKS has fallen 47% from July 22 vs the S&P and its coverage at 13% and 27% each. “Margins are thin and demand can disappoint in a recession scenario. Its pension funding could worsen...

Bank of America has lowered the price objective on AK Steel (NYSE: AKS) from $12 to $9.50 and maintains its Underperform rating.

Deutsche Bank has lowered the price target on ArcelorMittal (NYSE: MT) from $38.50 to $24.50 and maintains its Hold rating.

On CNBC's Mad Money, Jim Cramer said during the Lightning Round that Travelers Companies (NYSE: TRV) is the “cheapest stock in the Dow. I want to buy Travelers right here." For Micron Technology (NASDAQ: MU), he said, "You don't want to own Micron. It's not a good tech stock and it's not the...

Morgan Stanley is out with a research report on U.S. Steel (NYSE: X) and is downgrading shares to Equalweight from Overweight, and is lowering the price target to $48. In a note to clients, Morgan Stanley writes, "Despite the recent sell-off, we think it is too early to buy the group as a whole....

Morgan Stanley is out with a research report on Nucor Corporation (NYSE: NUE) and is upgrading shares to Overweight with a $51 price target. In a note to clients, Morgan Stanley writes, "Despite the recent sell-off, we think it is too early to buy the group as a whole. We would invest selectively...

AM Action:  Goldman Sachs(GS), JP Morgan (JPM), Citigroup (C), Morgan Stanley (MS) targets lowered at BofA/Merrill United States Steel Corporation (X) Downgraded - JAGNote by Morgan Stanley Steel Dynamic, Inc. (STLD) Downgraded - JAGNote by Morgan Stanley Nucor Corporation (NUE) Nucor upgraded to...

Carpenter Technology Corporation (NYSE: CRS) announced today that it will construct a new 400,000 square foot state-of-the-art manufacturing facility in response to strong customer demand for premium products primarily in the fast-growing aerospace and energy industries. The new facility will...

Morgan Stanley has downgraded US Steel (NYSE: X) from Overweight to Equal-weight and has lowered the price target from $70 to $48.

Morgan Stanley has downgraded Steel Dynamics (NASDAQ: STLD) from Overweight to Equal-weight and has lowered the price target from $21 to $19.

Avago Technologies Ltd (NASDAQ: AVGO) soared 6.19% to $31.07 in the pre-market trading. AVGO reported better-than-expected quarterly profit. La-Z-Boy Incorporated (NYSE: LZB) rose 4.85% to $8.00 in the pre-market session. LZB reported a 6.4% rise in its Q1 revenue. Whole Foods Market Inc (NASDAQ...

This is your Benzinga news summary and traders' outlook for Wednesday, August 24, 2011, covering headlines from overnight and Wednesday's pre-market session. Today in domestic pre-market trading, U.S equity futures are trading lower. At last check, Dow futures are down about 75 points and the U.S...