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Worthington Acquires BernzOmatic From Newell Rubbermaid
Tuesday, July 5, 2011 - 9:15am | 114Worthington Industries Inc (NYSE: WOR) purchased BernzOmatic from Irwin Industrial Tool Company, a subsidiary of Newell Rubbermaid Inc (NYSE: NWL). The terms of the transaction were not disclosed. The transaction was financed with the company's revolving credit facility. “This acquisition...
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Deutsche Bank Updates 7/5
Tuesday, July 5, 2011 - 8:44am | 701Deutsche Bank made a number of updates in a research report published today. HollyFrontier (NYSE: HFC) had its coverage initiated with a Buy rating and a price target of $95. Goldcorp (NYSE: GG) had its rating downgraded from Buy to Hold. At the same time, its price target was reduced to $56...
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Worthington Cylinders Acquires BernzOmatic
Tuesday, July 5, 2011 - 8:30am | 115Worthington Industries, Inc. (NYSE: WOR) announced today that its Pressure Cylinders segment has purchased the BernzOmatic business from Irwin Industrial Tool Company, a subsidiary of Newell Rubbermaid. The transaction was financed with the Company's revolving credit facility and is expected to be...
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Mechel Announces Increase in Company's Charter Capital
Friday, July 1, 2011 - 12:49pm | 168Mechel OAO (NYSE: MTL) announces the decisions made by Mechel Mining OAO's Board of Directors. On the meeting of Mechel Mining OAO's Board of Directors held on June 30, 2011, the Board of Directors decided to increase Mechel Mining OAO's charter capital by way of public offering of 3.644 billion...
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AK Steel Announces August 2011 Surcharges for Electrical and Stainless Steels
Friday, July 1, 2011 - 12:09pm | 59AK Steel (NYSE: AKS) has advised its customers that a $455 per ton surcharge will be added to invoices for electrical steel products shipped in August 2011. August 2011 surcharges for the broad range of stainless steel products that AK Steel produces can be found on the company's web site at www....
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Goldman Sachs Lowering Estimates On Schnitzer Steel Industries
Friday, July 1, 2011 - 8:28am | 185Goldman Sachs is lowering its earnings estimates on Schnitzer Steel Industries (NASDAQ: SCHN). It has a Neutral rating and a $68 price target on shares. In a note to clients, Goldman Sachs writes, "We are lowering SCHN's FY4Q2011 estimate to $1.31 from $1.36 as we believe higher scrap purchase...
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Stocks to Watch for 07/1/11: Fresh 52 Week Highs and Lows
Friday, July 1, 2011 - 4:16am | 2869Stocks trading at or near 52-week highs and lows provide excellent trading opportunities, as volatility tends to increase at such levels. The following stocks hit new 52-week highs in Thursday's trading session: 1) Walter Investment Company (NYSE: WAC): Shares of Walter Investment hit a 52-week...
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Allegheny Technologies Operations and USW Reach Tentative Labor Agreements
Thursday, June 30, 2011 - 1:31pm | 79Allegheny Technologies Incorporated (NYSE: ATI) today announced that the United Steelworkers (USW) and ATI Allegheny Ludlum and ATI's Albany, OR titanium operations have reached tentative four-year agreements covering approximately 3,000 employees. If ratified, the agreements will expire on June 30...
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Top Performing Industries For June 30
Thursday, June 30, 2011 - 12:06pm | 169At 12:02 pm, the Dow rose 1.17% to 12,405.29, the broader Standard & Poor's 500 index moved up 1.00% to 1,320.52 and the NASDAQ composite index gained 1.23% to 1,320.52. The industries that are driving the market today are: Semiconductor - Specialized: This industry jumped 3.26% by 12:02 pm....
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Update: BMO Raising Price Target On Cliffs Natural Resources
Thursday, June 30, 2011 - 9:16am | 112BMO Capital Markets is raising its price target on shares of Cliffs Natural Resources (NYSE: CLF) to $110 from $100, and it has an Outperform rating on shares. In a note to clients, BMO Capital Markets writes, "Positive. BMO Research has adopted Phase III at Bloom Lake, taking production to 24Mt...
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US Stock Futures Up Ahead Of Jobless Claims, Chicago PMI Data
Thursday, June 30, 2011 - 6:24am | 444US stock futures are higher this morning, as investors are awaiting jobless claims and Chicago PMI data. Futures on the Dow Jones Industrial Average surged 24 points to 12,242.00 and futures on the S&P 500 stock index rose 2.50 points to 1,306.80. Nasdaq 100 futures gained 6.00 points to 2,300....
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Earnings Scheduled For June 30
Thursday, June 30, 2011 - 1:17am | 387Apollo Group Inc (NASDAQ: APOL) is expected to report its Q3 earnings at $1.34 per share on revenue of $1.20 billion. McCormick & Company Incorporated (NYSE: MKC) is projected to post its Q2 EPS at $0.54 on revenue of $855.16 million. Smith & Wesson Holding Corp (NASDAQ: SWHC) is...
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Worthington Industries Increases Dividend by 20% to $0.12; Announces 10M Share Repurchase Authorization
Wednesday, June 29, 2011 - 4:10pm | 168At a meeting held June 29, 2011, the board of directors of Worthington Industries, Inc. (NYSE: WOR) declared a quarterly dividend of $0.12 per share. The dividend is payable on September 29, 2011, to shareholders of record September 15, 2011. The $0.12 per share quarterly dividend represents a 20%...
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Calls Purchased on Allegheny Technologies Incorporated
Wednesday, June 29, 2011 - 12:48pm | 142Shares of Allegheny Technologies Incorporated (NYSE: ATI) are higher on the session by 6.20%, currently trading at $65.45. The stock has been moving largely higher over the past five weeks and is currently trading above the 50-day moving average. Options traders are buying calls on the name today...
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Markets Extend Gains On Commodity Stocks
Wednesday, June 29, 2011 - 12:12pm | 251The stock market rally is continuing for the third consecutive day. Austerity measures in Greece were voted through this morning. This was widely anticipated but is still being cheered by Wall Street. The market is moving higher today mainly because of the rise in the Euro. The Euro is jumping as...