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Pre-market News and Views
Wednesday, April 13, 2011 - 9:27am | 500What a turnaround the market is making this morning! The S&P 500 e-mini futures are trading higher by 9.50 points to 1317.75 per contract. This move higher in the futures before the opening bell at the New York Stock Exchange is almost recapturing all of yesterday's sharp decline. Could this...
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Benzinga's Top Downgrades (AAP, LEDS, MT, RCRC)
Wednesday, April 13, 2011 - 8:23am | 132Advance Auto Parts Inc (NYSE: AAP) was downgraded by JP Morgan from "neutral" to "underweight." AAP's shares closed at $65.64 yesterday. AAP's trailing-twelve-month profit margin is 5.84%. Canaccord downgraded SemiLEDS Corporation (NASDAQ: LEDS) from “buy” to “hold.” LEDS' stock closed at $11.41...
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Societe Generale Downs MT To Hold
Wednesday, April 13, 2011 - 5:39am | 39Analysts at Societe Generale downgrade ArcelorMittal (NYSE: MT) from “buy” to “hold.” MT shares fell 1.97% to close at $35.80 yesterday. More Analyst Ratings here
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Mesabi Trust Declares Distribution of $0.05 per Unit
Tuesday, April 12, 2011 - 4:17pm | 60The Trustees of Mesabi Trust (NYSE: MSB) declared a distribution of five cents ($0.05) per Unit of Beneficial Interest payable on May 20, 2011 to Mesabi Trust unitholders of record at the close of business on April 30, 2011. This compares to a distribution of twelve and one-half cents ($0.125) per...
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Cliffs Natural Resources Inc. Receives Investment Canada Act Approval to Proceed With Consolidated Thompson Iron Mines Limited Acquisition
Tuesday, April 12, 2011 - 4:17pm | 90Cliffs Natural Resources Inc. (NYSE: CLF) today announced that the Minister of Industry has approved Cliffs proposed acquisition of Consolidated Thompson Iron Mines Limited, under the Investment Canada Act, on the basis that the transaction is likely to be a net benefit to Canada. Cliffs indicated...
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Mechel Mechel Announces Q1 Operational Results
Tuesday, April 12, 2011 - 10:45am | 218Mechel OAO (NYSE: MTL) announces operational results for Q1 2011. Mechel OAO's General Director Yevgeny Mikhel commented on the first quarter 2011 operational results: "Over this year's first three months all of Mechel's business segments demonstrated confident levels of production growth we...
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Stocks Look Vulnerable Here
Monday, April 11, 2011 - 6:47pm | 1020I've been talking about how weak the rally looks internally the past few weeks and how I'm looking for volume to re-enter the market to give us some momentum in either direction. I didn't want to take a position randomly because I know how the market can easily just float higher and higher and...
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Economics of Pakistan's beleaguered fertilizer industry may benefit Fatima
Monday, April 11, 2011 - 1:24pm | 815Last month Lahore-based Fatima Fertilizer Company Limited (FFCL) appointed BNY Mellon depository bank for its OTC ADR program in which ordinary shares of the firm will ultimately be listed under the symbol “FTMFY”. Each Fatima ADR will represent 50 ordinary shares that have traded hitherto on all...
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Cliffs Natural Resources Announces $250M+ Settlement With ArcelorMittal (CLF)
Friday, April 8, 2011 - 4:16pm | 202Cliffs Natural Resources (NYSE: CLF) today announced it has reached a negotiated settlement with ArcelorMittal USA Inc., and related parties, with respect to the companies' previously disclosed arbitrations and litigation regarding, among other matters, price reopener entitlements for 2009 and 2010...
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Citi Lowers Estimates On Alcoa Ahead Of Earnings
Thursday, April 7, 2011 - 8:48am | 183Citi is lowering its 1Q estimate on Alcoa (NYSE: AA) to $0.25 vs consensus of $0.27 due to equity dilution and cost headwinds from a weaker US dollar. With AA shares closing at a 2-year high and climbing 18% YTD, Citi is cautious heading into the quarter. AA is scheduled to announce earnings after...
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Commercial Metals Company Announces Promotion of Alvarado to President and COO
Wednesday, April 6, 2011 - 4:07pm | 106Commercial Metals Company (NYSE: CMC) headquartered in Irving, Texas, announced today that its Board of Directors has promoted Joe Alvarado to the position of President and Chief Operating Officer. Mr. Alvarado has been the Company's Chief Operating Officer since April 2010; he will continue to...
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Unconfirmed Rumors Circulate that Arcelor Mittal (MT) will acquire Worthington Industries, Inc. (WOR) at $30.00 a share
Wednesday, April 6, 2011 - 9:35am | 30Unconfirmed Rumors Circulate that Arcelor Mittal (MT) will acquire Worthington Industries, Inc. (WOR) at $30.00 a share..
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Options Brief: Reliance Steel & Aluminum Co. (RS)
Tuesday, April 5, 2011 - 3:13pm | 87Shares of Reliance Steel & Aluminum Co. (NYSE: RS) are higher on the session by 1.19%, trading at $60.15. Overall put volume is now running at 27.90x the daily average, with 70% of all puts traded being purchases on the offer. 2,790 contracts have traded on the session so far. Reliance Steel...
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Is it Time to Change Your Strategy?
Tuesday, April 5, 2011 - 10:07am | 1968Well, March was an eventful month. We had the world's third-biggest economy suffer a massive earthquake and tsunami followed by an ongoing nuclear emergency. If that was not enough, the massive unrest in the Middle East has continued to spread. NATO is bombing the Libyan Army currently. Finally...
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Mad Money Lightning Round: Cramer Likes Clear Channel Outdoor, Nucor (CCO, C, NUE, NOG, CLR, EOG, WLL)
Tuesday, April 5, 2011 - 12:35am | 231On CNBC's Mad Money, Jim Cramer said during the Lightning Round that Clear Channel Outdoor (NYSE: CCO) is “not Clear Channel the radio company; that's private. This is Clear Channel, the outdoor advertising play. People still watch billboards though. I like it." For Citigroup (NYSE: C), he said, "...