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Options Brief: Mechel OAO
Friday, May 27, 2011 - 1:22pm | 90Shares of Mechel OAO (NYSE: MTL) are lower on the session by 4.09%, trading at $26.75. Overall call volume is now running at 2.83x the daily average, with 61% of all calls traded being purchases on the offer. 1,706 contracts have traded on the session so far. Mechel OAO is an integrated mining,...
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Disappointing Data 05-26-2011
Thursday, May 26, 2011 - 6:23pm | 865Cusick's Corner Stocks are trading mixed in the wake of disappointing economic data. A report released early Thursday showed Gross Domestic Product increasing at an annual rate of just 1.8 percent during the first quarter of this year. Economists were looking for an increase of 2 percent....
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Commercial Metals Company to Acquire Australian Long Products Distributor G.A.M. Steel Pty
Thursday, May 26, 2011 - 4:01pm | 59Commercial Metals Company (NYSE: CMC) announced today that it has entered into a definitive agreement to purchase G.A.M. Steel Pty. Ltd. based in Melbourne, Australia. At closing, G.A.M. will continue to operate as an independent steels distribution business, but with opportunities for synergies...
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Options Brief: AK Steel Holding Corporation
Thursday, May 26, 2011 - 12:21pm | 78Shares of AK Steel Holding Corporation (NYSE: AKS) are higher on the session by 1.43%, trading at $14.93. Overall call volume is now running at 3.31x the daily average, with 54% of all calls traded being purchases on the offer. 22,285 contracts have traded on the session so far. AK Steel Holding...
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High Yield Brazil Stocks
Thursday, May 26, 2011 - 1:41am | 595The four BRIC countries are Brazil, Russia, India, and China, with Brazil being the leader of the group. Brazil is one of the largest countries in the world by both population and area and is the largest economy in Latin America. It is also the largest producer of ethanol in the world, which comes...
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Is Anyone Watching Any Other Chart?
Wednesday, May 25, 2011 - 11:15am | 206At this time, almost every trader in the world is watching the U.S. Dollar Index(DX) chart. This morning, the U.S. Dollar Index has pulled back after the opening bell rang at the New York Stock Exchange. This decline in the U.S. Dollar has caused the major stock indexes to inflate and trade higher...
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Goldman Sachs Reiterates Neutral and PT of $16 on Commercial Metals Company
Wednesday, May 25, 2011 - 9:15am | 201Goldman Sachs reiterated its Neutral rating and PT of $16 on Commercial Metals Company (NYSE: CMC). In a research report published today, Goldman commented on the changes in Commercial Metals' management, which includes naming Joe Alvorado as the new CEO. In the report, Goldman states, "We believe...
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Is the Buck Badgering the Market? 05-24-2011
Tuesday, May 24, 2011 - 6:16pm | 884Cusick's Corner The Buck firmed into the close while Finance, XLF (thanks Citi +.35 and 9% of the XLF) was the strongest of the offensive sectors, this segment is just off its lows. We may have a consolidation forming in front of the long weekend. In the Commodity markets there was a nice...
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Resistance is Former Support Level 05-24-2011
Tuesday, May 24, 2011 - 2:51pm | 931Cusick's Corner Some readers have asked me what sparked my skepticism last week. Answer: Europe -- specifically the PIIGS. While Greece is that ugly sore that just won't go away, the revelations that Italy may be in trouble has rocked the market since Italy has had the best performing market in...
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Calls Purchased on ArcelorMittal
Tuesday, May 24, 2011 - 10:31am | 129Shares of ArcelorMittal (NYSE: MT) are higher on the session by 1.24%, currently trading at $32.53. The stock has been moving largely lower over the past three 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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Options Brief: ArcelorMittal
Monday, May 23, 2011 - 10:36am | 86Shares of ArcelorMittal (NYSE: MT) are lower on the session by 1.39%, trading at $32.03. Overall call volume is now running at 2.37x the daily average, with 2% of all calls traded being purchases on the offer. 5,553 contracts have traded on the session so far. ArcelorMittal is a global steel...
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Blood On The Street
Monday, May 23, 2011 - 10:02am | 237This morning, the major stock market indexes are declining sharply lower. The catalyst for the steep stock market decline is once again the stronger U.S. Dollar. When the dollar rallies or trades higher the major stock and commodities will deflate and simply trade lower. This morning the leading...
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Stifel Nicolaus Raises PT On ATI To $85
Monday, May 23, 2011 - 8:52am | 144Stifel Nicolaus has raised its price target from $78 to $85 on Allegheny Technologies (NYSE: ATI) in light of the company's Ladish deal. Says Stifel Nicolaus, in its report, “Ladish will become part of the High Performance Metals (HPM) segment within Allegheny. Due to the charges and purchase...
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UPDATE: J.P. Morgan Resumes Coverage on Cliffs Natural Resources at Overweight
Monday, May 23, 2011 - 7:30am | 167J.P. Morgan is out with its report today on Cliffs Natural Resources (NYSE: CLF), resuming coverage on CLF at Overweight. In a note to clients, J.P. Morgan writes, "We were restricted on Cliffs Natural Resources due to J.P. Morgan's involvement in the transaction announced on January 11, 2011. Now...
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Morgan Stanley Upgrades AK Steel To Overweight, $24 PT
Monday, May 23, 2011 - 6:16am | 28Morgan Stanley has upgraded AK Steel Holding Corporation (NYSE: AKS) from Neutral to Overweight and has established a $24 price target.