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Options Brief: Allegheny Technologies Incorporated
Tuesday, June 21, 2011 - 11:21am | 105Shares of Allegheny Technologies Incorporated (NYSE: ATI) are higher on the session by 3.50%, trading at $62.10. Overall call volume is now running at 2.48x the daily average, with 78% of all calls traded being purchases on the offer. 4,757 contracts have traded on the session so far. Allegheny...
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Commercial Metals Trading Over 6% Higher on Earnings Beat
Tuesday, June 21, 2011 - 10:37am | 65Commercial Metals (NYSE: CMC) is trading over 6% on the session after reporting higher than expected earnings. The company reported EPS of $0.31 vs. $0.20 estimate and revenues $2.1B vs. $2.07B estimate. Commercial Metals Company recycles, manufactures, fabricates and distributes steel and metal...
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NASDAQ Stocks Hitting 52-Week Highs
Tuesday, June 21, 2011 - 10:16am | 139Universal Stainless & Alloy Products Inc (NASDAQ: USAP) shares rose 4.01% to create a new 52-week high of $42.28. Analysts at Davenport upgraded Universal Stainless & Alloy Products from “neutral” to “buy.” Hansen Natural Corporation (NASDAQ: HANS) shares gained 1.07% to create a new 52-...
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Mechel Reports Winning Subsoil License for Pionerskoye Iron Ore Deposit
Tuesday, June 21, 2011 - 10:03am | 203Mechel OAO (NYSE: MTL) reports winning the auction for the subsoil license for Pionerskoye iron ore deposit. The auction was held by Russia's Federal Subsoil Use Agency (Rosnedra), with the results announced on June 20, 2011. Yakutugol OAO won the subsoil license. In accordance with the tender's...
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Citi Maintains Hold on Carpenter Technology
Tuesday, June 21, 2011 - 8:04am | 110Citi is out with its report today on Carpenter Technology (NYSE: CRS), maintaining Hold. In a note to clients, Citi writes, "We rate Carpenter Technology with a Hold/Speculative Risk rating based on its discounted valuation and niche product mix, which is offset by the weakening demand outlook for...
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Benzinga's Top Upgrades
Tuesday, June 21, 2011 - 8:03am | 136Davenport upgraded Universal Stainless & Alloy Products Inc (NASDAQ: USAP) from “neutral” to “buy.” USAP's shares closed at $40.65 yesterday. USAP's trailing-twelve-month operating margin is 11.71%. Analysts at Deutsche Bank upgraded Biogen Idec Inc (NASDAQ: BIIB) from “hold” to “buy.” BIIB's...
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J.P. Morgan Lowers EPS Estimates on Nucor
Tuesday, June 21, 2011 - 7:59am | 110J.P. Morgan is out with its report today on Nucor (NYSE: NUE), lowering its Q2 11 EPS estimates. In a note to clients, J.P. Morgan writes, "We are lowering our 2Q11E EPS for NUE to $0.80 from $0.90 to reflect the company's recent 2Q guidance of $0.75-0.80. The company's 2Q guidance does include a...
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US Stock Futures Signal Higher Start On Wall Street
Tuesday, June 21, 2011 - 6:21am | 483US stock futures are higher this morning, ahead of a confidence vote in the Greek parliament later in the day. Futures on the Dow Jones Industrial Average surged 41 points to 12,054.00 and futures on the S&P 500 stock index rose 4.90 points to 1,278.70. Nasdaq 100 futures gained 7.50 points to...
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Earnings Scheduled For June 21
Tuesday, June 21, 2011 - 12:20am | 331Jabil Circuit Inc (NYSE: JBL) is projected to report its FQ3 earnings at $0.57 per share on revenue of $4.14 billion. Barnes & Noble Inc (NYSE: BKS) is estimated to post a FQ4 loss at $0.91 per share on revenue of $1.39 billion. Commercial Metals Company (NYSE: CMC) is expected to report its...
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Mad Money Lightning Round: Cramer Dislikes Harbin Electric
Tuesday, June 21, 2011 - 12:12am | 233On CNBC's Mad Money, Jim Cramer said during the Lightning Round that he is “disappointed in Ford Motor (NYSE: F). I think the projections are too aggressive. Alan Mullaly came on the show and said things were great, and they weren't. That's not how we play here." For SandRidge Energy (NYSE: SD),...
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U.S. Stocks Meander Higher In Dull Trade
Monday, June 20, 2011 - 4:27pm | 71Stocks meandered higher on Monday as volume fell from Friday's witching-driven totals. At the closing bell, the S&P 500 and the Nasdaq each rose 0.5%. The NYSE composite moved up 0.4%. Winners beat losers by 2-to-1 on the New York Stock Exchange, but by a much narrower 5-to-4 margin on the...
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Universal Stainless & Alloy Products Jumping 11%
Monday, June 20, 2011 - 3:20pm | 72Universal Stainless & Alloy Products Inc. (NASDAQ: USAP) shares are jumping more than 11% today, gaining $4.15 to $40.06, a gain of 11.5% on higher than normal volume. Goldman had upgraded the steel sector earlier this morning, and it appears that Universal Stainless & Alloy Products is...
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Carpenter Technology Corporation Soaring 10% on Buyout
Monday, June 20, 2011 - 11:33am | 313Carpenter Technology Corp. (NYSE: CRS) shares are soaring more than 10% today after the company agreed to buy Latrobe Specialty Metals for $388 million in stock and $170 million in cash. The $170 million in cash will go towards getting rid of Latrobe's debt. “Our strategy is to grow through a...
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Market Roundup
Monday, June 20, 2011 - 10:42am | 217Shares of Carpenter Technology Corp (NYSE: CRS) surged about 10% after the company announced its plans to buy Latrobe Specialty Metals Inc for $558 million. Latrobe's shareholders will own around 15.5% of Carpenter's outstanding common stock. The deal is expected to close by September 30. Shares...
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U.S. Stocks Try To Fight Back From Weak Open
Monday, June 20, 2011 - 10:29am | 65Stocks opened lower Monday on worries about Greek's debt crisis. The Nasdaq and S&P 500 fell 0.1% while the NYSE composite slipped 0.2%, hurt by financials. Volume was tracking sharply lower across the board. Friday's trade was boosted by the expiration of options and futures. Despite...