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US Steel Intraday Double Top
Wednesday, June 8, 2011 - 10:59am | 106Shares of US Steel (NYSE: X) have put in a double top on a five minute intraday chart after failing to break above the $43 level. The intraday low of US steel is $42.59. The stock is currently trading at $42.73. Shares of US Steel have lost 7.7% in the past seven trading sessions. Disclaimer...
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News Summary
Wednesday, June 8, 2011 - 9:59am | 336Shares of McDonald's Corp (NYSE: MCD) dropped about 1.1% after the company reported a 3.1% rise in its global comparable sales at all restaurants in operation at least 13 months in May. McDonald's sales increased 2.4% in the US, rose 2.3% in Europe and surged 4.3% in Asia, Middle East and Africa....
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Cliffs Natural Resources Agreed to Sell 9,000,000 Common Shares at $85.63 Per Common Share
Wednesday, June 8, 2011 - 6:41am | 147Cliffs Natural Resources Inc. (NYSE: CLF) today announced that it has priced its recently announced offering of common shares. The Company has agreed to sell 9,000,000 common shares at $85.63 per common share through an underwritten offering. In connection with the offering, the underwriters have...
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Posco To Acquire 20% Stake In XG Sciences
Wednesday, June 8, 2011 - 4:22am | 66Posco (NYSE: PKX) announced its plans to acquire a 20% stake in US-based graphene company XG Sciences. Posco is expecting the acquisition to complement its core business. The company did not disclose the value of its deal. Posco shares gained 0.94% to close at $99.64 yesterday. Read more from...
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Calls Purchased on Mechel OAO
Tuesday, June 7, 2011 - 3:41pm | 133Shares of Mechel OAO (NYSE: MTL) are higher on the session by 3.74%, currently trading at $26.60. The stock has been moving largely lower over the past four months and is currently trading below the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short...
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Dahlman Rose Reiterates Buy on Cliffs Natural Resources
Tuesday, June 7, 2011 - 8:32am | 129Dahlman Rose is out with its report today on Cliffs Natural Resources (NYSE: CLF), reiterating Buy. In a note to clients, Dahlman Rose writes, "We reiterate our Buy rating on the shares with a $120 price target. Given that the issuance was in-line with our expectations, it is not necessary for us...
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UPDATE: Cliffs Natural Resources Inc. Announces Public Offering of 9M Common Shares
Monday, June 6, 2011 - 4:17pm | 103Cliffs Natural Resources Inc. (NYSE: CLF) today announced that it is offering to sell, subject to market and other conditions, 9,000,000 common shares through an underwritten offering. In connection with the offering, the underwriters have been granted an over-allotment option to purchase an...
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It's Inverted Hammertime! 06-06-2011
Monday, June 6, 2011 - 3:25pm | 947Cusick's Corner With Finance and Energy challenged, plus AAPL under some pressure, the shorts have the strength on their side in spite of Friday's Bullish technical set up that created an inverted hammer. The market looks poised for continued safe haven buying, Gold/Silver, along with continued...
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Another Stainless Spinoff – ThyssenKrupp's Turn
Monday, June 6, 2011 - 12:40pm | 55Not enough interest in silverware these days? Sure seems that way as German conglomerate ThyssenKrupp AG (TYEKF - US Pink Sheets) announced plans to spin off its stainless steel operations. The move comes just a few months after ArcelorMittal (MT) did the same exact thing with its stainless...
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Commodity Stocks Show Early Strength
Monday, June 6, 2011 - 10:10am | 167This morning, many of the leading commodity stocks are showing some early gains. Often, when the U.S. Dollar Index declines intra-day this will usually help to inflate the major commodity and stock markets. Therefore, should the U.S. Dollar Index rally higher during the trading session it would be...
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Can Market Pull a Nowitzki? 06-03-2011
Friday, June 3, 2011 - 3:24pm | 957Cusick's Corner Can the market pull off a Nowitzki? (This is the name of Dallas Maverick's German Center, in reference to their roaring comeback in game 2 of the NBA finals.) The long and short of it is that I am going to be watching the 1313 level, plus want to see a break and settle above this...
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Can The U.S. Dollar Index Decline Enough To Save Markets?
Thursday, June 2, 2011 - 3:13pm | 184The major stock indexes have been on a wild roller coaster ride today. The U.S. Dollar Index has sold off sharply lower since 11:30 am EST. As we all know by now, when the U.S. Dollar Index declines the major stock and commodity indexes inflate and trade higher. The U.S. Dollar Index is trading...
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Dahlman Rose Reiterates Buy on Cliffs Natural Resources
Thursday, June 2, 2011 - 8:53am | 162Dahlman Rose is out with its report today on Cliffs Natural Resources (NYSE: CLF), reiterating Buy. In a note to clients, Dahlman Rose writes, "Despite our lower earnings estimates we continue to see compelling value in the shares. We believe the company's move to gain further diversification into...
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General Steel Announces Repurchase of Additional One Million Shares
Wednesday, June 1, 2011 - 7:04am | 64General Steel Holdings, Inc. (NYSE: GSI) today announced that its Board of Directors has authorized an increase of one million (1,000,000) shares of its common stock which may be purchased under the Company's share repurchase program launched in December 2010, bringing the total authorized shares...
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Keep This Chart On The Radar
Tuesday, May 31, 2011 - 9:41am | 185This morning, the major stock market indexes are soaring higher on the back of the weaker U.S. Dollar Index. As we should all know by now, when the U.S. Dollar Index declines the major stock market indexes climb higher. Traders must keep an eye on the U.S. Dollar Index at all times. If the U.S....