-
Benzinga's Volume Movers
Monday, June 20, 2011 - 10:23am | 185Harbin Electric Inc (NASDAQ: HRBN) shares surged 53.20% to $12.85 at 10:22 am. The volume of HRBN shares traded was 1499% higher than normal. HRBN agreed to be acquired for $24 per share in cash by Tech Full Electric Company Limited, a Cayman Islands company wholly owned indirectly by Mr. Tianfu...
-
Carpenter Technology Corp Trading Over 7% Higher After Acquiring Latrobe
Monday, June 20, 2011 - 9:45am | 33Carpenter Technology Corp (NYSE: CRS) is trading over 7% higher after the company announced the acquisition of Latrobe for $558 million. CRS is currently trading $51.40 per share.
-
Carpenter Technology To Buy Latrobe For $558M
Monday, June 20, 2011 - 8:09am | 174Carpenter Technology Corp (NYSE: CRS) 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. William A. Wulfsohn, President and Chief Executive...
-
ATI Announces Long-Term Agreement for ATI 718Plus Alloy
Monday, June 20, 2011 - 8:03am | 187Allegheny Technologies Incorporated (NYSE: ATI) announced today that it has signed a long-term sourcing agreement with Rolls-Royce, for the supply of ATI 718Plus^® Alloy. ATI 718Plus alloy is the newest nickel-based superalloy developed by ATI and is being manufactured into a variety of jet engine...
-
Goldman Sachs Bullish On Steel
Monday, June 20, 2011 - 7:53am | 215Goldman Sachs is getting bullish on the steel space. It is bullish on Steel Dynamics (NASDAQ: STLD), Schnitzer Steel (NASDAQ: SCHN), Nucor (NYSE: NUE), Reliance Steel (NYSE: RS) & Metals USA Holdings Corp (NYSE: MUSA). In a note to clients, Goldman writes, "We see five reasons to be short...
-
Carpenter Technology to Acquire Latrobe for $558M
Monday, June 20, 2011 - 7:30am | 98Carpenter Technology Corporation (NYSE: CRS) and Latrobe Specialty Metals, Inc. today announced they have entered into a definitive merger agreement whereby Carpenter will acquire Latrobe in a transaction valued at approximately $558 million. In the transaction, 8.1 million shares of Carpenter...
-
Stocks to Watch: Moving Average Indicators
Monday, June 20, 2011 - 3:31am | 626The “Golden Cross” is a major bullish technical indicator. It occurs when a stock's 50-day simple moving average crosses above its 200-day simple moving average. The “Golden Cross,” like most technical indicators, should never be used alone, but is a significant event to consider when evaluating a...
-
Top 4 NYSE Stocks In The Metal Fabrication Industry With The Highest Dividend Yield
Monday, June 20, 2011 - 1:23am | 122Below are the top metal fabrication stocks on the NYSE in terms of dividend yield. Allegheny Technologies Inc (NYSE: ATI) has a dividend yield of 1.20%. ATI's shares closed at $58.62 on Friday. Mueller Industries Inc (NYSE: MLI) has a dividend yield of 1.10%. MLI's shares closed at $35.82 on...
-
Basic Materials Sector Sinking to Intraday Lows
Friday, June 17, 2011 - 1:23pm | 371The Basic Materials Sector is the weakest performing area of the market in today's session, currently down 0.3% on the day. The weakest performing stocks in the S&P Basic Materials Sector currently are: 1) CF Industries (NYSE: CF): Shares of CF Industries are currently trading down 4% from...
-
Reviewing RIM's Dismal Earnings Report, Low P/E Ratios, and the Damage Done
Friday, June 17, 2011 - 11:49am | 872By Michael Comeau A look at Research in Motion's headline numbers and a lesson in the dangers of buying stocks based upon low P/E ratios. Yesterday (June 16) after the close, Research in Motion (RIMM) delivered yet another dismal earnings report, continuing one of the most clearly telegraphed...
-
It Is Still About The Dollar
Friday, June 17, 2011 - 10:05am | 204This morning, the U.S. Dollar Index futures(DX U1) is trading lower by 0.60 cents to $75.62 per contract. When the U.S. Dollar Index declines the major stock market indexes inflate and trade higher. That is certainly the case today, as the S&P 500 e-mini futures trades higher by 11.75 points....
-
Citi Maintains Buy on Steel Dynamics
Friday, June 17, 2011 - 9:20am | 102Citi is out with its report today on Steel Dynamics (NASDAQ: STLD), maintaining Buy. In a note to clients, Citi writes, "While 2Q earnings guidance disappointed, demand appears to have returned to 1Q levels following an early 2Q lull and mill profitability per ton has expanded. We retain our...
-
Goldman Sachs Maintains Buy Rating On Steel Dynamics
Friday, June 17, 2011 - 9:02am | 109According to Goldman Sachs, Steel Dynamics (NASDAQ: STLD) has guided for 2Q2011 EPS of $0.35-$0.40, significantly below its prior estimate of $0.61 and consensus estimate of $0.57. Goldman Sachs said that, apart from $0.03 swing from the prior quarter due to hedging losses, most of the shortfall...
-
Goldman Sachs Lowers PT On Steel Dynamics To $21
Friday, June 17, 2011 - 6:34am | 27Goldman Sachs has lowered the price target on Steel Dynamics (NASDAQ: STLD) from $23 to $21 and maintains its Buy rating.
-
Steel Names Plunging to Intraday Lows
Thursday, June 16, 2011 - 2:55pm | 129As the major indices continue to fall, major steel stocks are currently hitting new intraday lows. 1) AK Steel (NYSE: AKS): Shares of AK Steel are currently trading down 6.5% from yesterday's close to $14.14 – the intraday low is $14.14. 2) United States Steel (NYSE: X): Shares of United States...