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Divergences Galore; Market Remains Indecisive (USO, UNG, APA, DVN, RRC, GAS, X, MT, AKS, NUE, FCX, NEM)
Thursday, March 31, 2011 - 4:50pm | 640Thus far, this trading week has been full of reversals and divergences mainly emanating out of the materials and commodities sectors. Traders and investors seem to be unsure as to where the market should be and in what direction it should head. For example, after disappointing inventory data,...
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Infrastructure Breakout: Brazil, India Infrastructure ETFs May Have More In Store
Thursday, March 31, 2011 - 1:03pm | 395Emerging markets ETFs have certainly started to awaken from their slumber earlier this year and that is certainly true of Brazil and India-specific ETFs. Of course this theme makes funds such as the iShares MSCI Brazil Index Fund (NYSE: EWZ) and the India equivalents worth a look, but there is...
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Steel Names Weak In Early Trade (X, NUE, MT, AKS)
Thursday, March 31, 2011 - 9:40am | 120After a weak performance in yesterday's trading session, shares of steel companies are once again running into selling pressure in the early morning action. US Steel (NYSE: X), Nucor Corp (NYSE: NUE), Arcelor Mittal (NYSE: MT), and AK Steel Holding (NYSE: AKS) are all taking a hit in the first...
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Pre-market News and Views
Thursday, March 31, 2011 - 9:37am | 345The S&P 500 e-mini(ES M1) futures began to decline around 5:00 am EST and are trading lower by 2.50 to 1321.50 per contract. At 8:30 am EST the initial jobless claims report was released and declined by 6,000 to 388,000 claims. This number was expected by most economists. Tomorrow is the highly...
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News Summary
Thursday, March 31, 2011 - 9:34am | 187Shares of Worthington Industries Inc (NYSE: WOR) gained about 1% after the company reported its Q3 earnings at $26.3 million, or $0.35 per share, versus a loss of $17.7 million, or $0.22 per share, in the year-earlier period. The company's sales increased to $569.4 million from $451.1 million....
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Worthington Reports Q3 EPS of $0.35 vs. $0.25; Revenues $569.4M vs. $590.57M
Thursday, March 31, 2011 - 8:49am | 64Worthington Industries, Inc. (NYSE: WOR) today reported net sales of $569.4 million and net earnings of $26.3 million, or $0.35 per share, for its fiscal 2011 third quarter ended February 28, 2011. In last year's third quarter, the Company reported net sales of $451.1 million and a net loss of $17....
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US Stock Futures Slightly Up As Investors Await Jobless Claims Data
Thursday, March 31, 2011 - 6:28am | 440US stock futures are slightly higher this morning, as investors are awaiting jobless claims data. Futures for the Dow Jones Industrial Average gained 10 points to 12,296.00 and S&P 500 index futures rose 0.20 point to 1,324.10. Nasdaq 100 futures added 1.25 points to 2,335.75. US stocks closed...
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Earnings Scheduled For March 31 (KMX, CASC, WOR, GPN, RBN, LWSN, XRTX, FC, RECN, KKD, DMAN)
Thursday, March 31, 2011 - 12:45am | 291CarMax Inc (NYSE: KMX) is expected to report its Q4 EPS at $0.38 on revenue of $2.17 billion. Cascade Corporation (NYSE: CASC) is projected to post its Q4 earnings at $0.71 per share on revenue of $103.09 million. Worthington Industries Inc (NYSE: WOR) is estimated to report its Q3 EPS at $0.25...
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Stocks To Watch For March 31 (KMX, WOR, HSY, GPN, LWSN)
Thursday, March 31, 2011 - 12:36am | 251Some of the stocks that may grab investor focus today are: Wall Street expects CarMax Inc (NYSE: KMX) to report its Q4 EPS at $0.38 on revenue of $2.17 billion. KMX shares gained 1.39% to $35.07 in after-hours trading.. Analysts are expecting Worthington Industries Inc (NYSE: WOR) to have earned...
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Goldman Sachs Suggests Buying Strangles on Research In Motion (RIMM)
Wednesday, March 30, 2011 - 9:30am | 175Goldman Sachs is out with a research note this morning, where it suggests that traders look to buy strangles on Research In Motion Limited (NASDAQ: RIMM). Despite shares trading down 11% from 24-March earnings, analysts at GS still view RIMM as a controversial stock. While Goldman Sachs Comm Tech...
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Citi Raising Estimates And Target On Cliff's Natural Resources
Wednesday, March 30, 2011 - 8:21am | 80According to Citi, Cliffs Natural Resources (NYSE: CLF) estimates are target are raised. Citi reported that it is introducing an updated model for CLF that reflects earnings contributions from the pending $4.9 bln acquisition of Consolidated Thompson, which is expected to close in early 2Q. “We...
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United States Steel Up Almost 3% On The Day (X)
Tuesday, March 29, 2011 - 2:14pm | 53United States Steel Corporation (NYSE: X) shares are moving sharply to the upside today, gaining almost 3% to $57.02, a gain of $1.62 on 5.6 million shares. United States Steel Corporation, through its subsidiaries, engages in the production and sale of steel products primarily in North America...
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Steel Stocks Reverse Course (AKS, X, MT)
Tuesday, March 29, 2011 - 10:16am | 143After starting out in the red, steel names AK Steel Holding (NYSE: AKS), US Steel (NYSE: X), and Arcelor Mittal (NYSE: MT) have reversed course and turned positive in the first thirty minutes of trading. AK Steel (NYSE: AKS) is the strongest of the group surging 4.5% in early trading to $16.31,...
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Freeport McMoRan Under Early Pressure
Tuesday, March 29, 2011 - 9:57am | 140Freeport McMoRan Copper & Gold Inc.(NYSE: FCX) is one of the leading copper producers. This morning the stock is declining by 0.57 cents to $54.50 a share. Last night the highly followed Shanghai Index was lower by 0.87 percent. When the Shanghai Index declines it will often be reflected in the...
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Rio Tinto May Try To Acquire SID's Riversdale Stake
Monday, March 28, 2011 - 10:36pm | 248Still short of the 50% threshold of support it wants for its $4 billion takeover offer for Australia's Riversdale Mining, Rio Tinto (NYSE: RIO), the world's second-largest mining company, may try to acquire Brazil's Companhia Siderurgica Nacional's (NYSE: SID) stake in Riversdale, Bloomberg News...