Steel

Bank of America reiterated its Underperform rating on U.S. Steel (NYSE: X). At the same time, the rating agency left its price target on the company's stock unchanged at $39. On Thursday, X lost 9.2% of its value to end the day at $33.87. Its shares continued to slide in today's pre-market trading...

Peabody Energy (NYSE: BTU) and ArcelorMittal (NYSE: MT) today lodged with the Australian Securities and Investments Commission the Bidder's Statement for their all-cash off-market takeover bid to acquire all the shares in Macarthur Coal Ltd. A copy of the Bidder's Statement is available from...

On CNBC's Fast Money, Tim Seymour suggested that investors should buy iShares MSCI Emerging Markets Index (ETF) (NYSE: EEM) for a short term bounce to $46. After that, another leg lower will follow. iShares MSCI Emerging Markets Index (ETF) (EEM) lost 0.35% today, and closed at $45.46. Guy Adami...

Reliance Steel & Aluminum Co. (NYSE: RS) announced today that it has completed the acquisition of all the outstanding capital securities of Continental Alloys & Services, Inc., and certain affiliated companies, for a transaction value of $415 million, subject to certain adjustments. Other...

Stocks trading at or near 52-week highs and lows provide excellent trading opportunities, as volatility tends to increase at such levels and exit/entry points become more clearly defined. The following stocks hit new 52-week highs in Monday's trading session (listed from highest total volume to...

Stocks trading at or near 52-week highs and lows provide excellent trading opportunities, as volatility tends to increase at such levels and exit/entry points become more clearly defined. The following stocks hit new 52-week highs in Monday's trading session (listed from highest total volume to...

Hyatt Hotels Corporation (NYSE: H) is expected to report its Q2 EPS at $0.15 on revenue of $910.14 million. Archer-Daniels-Midland Company (NYSE: ADM) is projected to report its FQ4 EPS at $0.85 on revenue of $20.43 billion. Coach Inc (NYSE: COH) is projected to report its Q4 EPS at $0.65 on...

Australia's Macarthur Coal, the world's largest maker of pulverized coal, is continuing its search for alternative takeover offers to the $5.2 billion offered by a joint venture formed by Peabody Energy (NYSE: BTU) and Arcelor Mittal (NYSE: MT), adding that it does not consider the offer from the...

The markets are lower on fear that the bill to raise the debt ceiling and cut spending will not pass this evening. Many politicians have come out publicly today voicing their displeasure with the bill. After a major gap higher in the U.S. markets, they fell sharply. The SPDR S&P 500 ETF (NYSE:...

Steel (NYSE: AKS) has advised its customers that a $460 per ton surcharge will be added to invoices for electrical steel products shipped in September 2011. AK Steel's surcharges are based on reported prices for raw materials and energy used to manufacture the products, with the July 2011...

United States Steel Corporation (NYSE: X) today announced two executive appointments in its corporate risk management and finance organizations that are effective today. Larry T. Brockway, who currently serves as vice president and treasurer, has been appointed senior vice president and chief...

This is your Benzinga news summary and traders' outlook for Monday, August 1, 2011, covering headlines from overnight and Monday's pre-market session. Today in domestic pre-market trading, U.S. equity futures are trading higher and the U.S. Dollar lower after Republican and Democratic leaders in...

Peabody Energy (NYSE: BTU) and ArcelorMittal (NYSE: MT) today confirm that following the recent completion of due diligence they intend to launch an all-cash off-market takeover bid to acquire all the shares in Macarthur Coal Ltd. Under the offer, Macarthur shareholders will be offered A$15.50...

Commercial Metals Company (NYSE: CMC) today announced that its Board of Directors has adopted a Stockholder Rights Plan with a 10 percent threshold. Stockholders with existing positions over 10 percent will be grandfathered as described below. The Plan is intended to enable all stockholders to...

The U.S. Dollar Index futures (DX U1) plummeted lower after the second quarter gross domestic product(GDP) number was released. Normally, when the U.S. Dollar Index declines it will help to inflate the major stocks and commodity markets, however, today could be a different scenario. Stocks such as...