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AK Steel Downgraded, Shares Fall 7.4% (AKS)
Friday, January 7, 2011 - 6:02pm | 128Shares of AK Steel Holding Corporation (NYSE: AKS) ended the day down 7.4% at $15.36 per share. Goldman Sachs downgraded the company's stock from a rating of Neutral to a Sell rating. Today's trading range for shares of AK Steel Holding Corporation was between $15.08 and $16.24 per share. The...
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Steve Grasso Is Bearish On ArcelorMittal (MT)
Friday, January 7, 2011 - 3:36pm | 158Steve Grasso said on CNBC's Fast Money that he wants to take a short position in ArcelorMittal (ADR) (NYSE: MT). He explained that seasonality is very important for the steel sector, and January, and February are usually the weaker months for the steel companies. December looks like the strongest...
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ArcelorMittal-Nunavut War Continues - Analyst Blog
Friday, January 7, 2011 - 3:33pm | 450The takeover bid revolving around Baffinland Iron Mines Corp. between ArcelorMittal and Nunavut continues. The steel giant, ArcelorMittal (MT) has been trying to acquire 100% of Baffinland and is currently offering C$1.40 a share, valuing the company at about C$550 million ($550 million) as it...
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ArcelorMittal-Nunavut War Continues - Analyst Blog
Friday, January 7, 2011 - 3:03pm | 450The takeover bid revolving around Baffinland Iron Mines Corp. between ArcelorMittal and Nunavut continues. The steel giant, ArcelorMittal (MT) has been trying to acquire 100% of Baffinland and is currently offering C$1.40 a share, valuing the company at about C$550 million ($550 million) as it...
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Benzinga's Worst Performing Industries (SKY, CVCO, BXS, ZEUS, CNAM, SNV)
Friday, January 7, 2011 - 2:39pm | 151The manufactured housing industry lost 3.35% on Friday, and in the space Skyline Corporation (NYSE: SKY) and Cavco Industries, Inc. (NASDAQ: CVCO) are down 3.39% and 2.93% respectively. Regional southeast banks are also performing poorly today. This sector dropped 2.16% in the first half of the...
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Unconfirmed Rumors Circulate that POSCO (PKX) will acquire Globe Specialty Metals, Inc. (GSM) at $25.00 a share
Friday, January 7, 2011 - 11:12am | 30Unconfirmed Rumors Circulate that POSCO (PKX) will acquire Globe Specialty Metals, Inc. (GSM) at $25.00 a share.
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Cliffs Natural Resources Inc. Announces Receipt of $129 Million fromEssar Steel Algoma
Thursday, January 6, 2011 - 6:04pm | 48Cliffs Natural Resources Inc. (NYSE: CLF) today announced the receipt of $129 million in "true-up" payments from Essar Steel Algoma, Inc. These payments are related to the portion of revenue from 2010 pellet sales that were disputed in a previously disclosed arbitration.
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Schnitzer Steel Pummeled Following Q1 Results (SCHN)
Thursday, January 6, 2011 - 5:12pm | 219Shares of Schnitzer Steel Industries (NASDAQ: SCHN) are cratering after-hours after the company reported disappointing Q1 earnings results. Shares were off as much as 8% before coming back slightly; SCHN is currently trading at $64.75, off 5.98%. The company said that Q1 revenues were $675 million...
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Schnitzer Reports Strong First Quarter Fiscal 2011 EPS of $0.64
Thursday, January 6, 2011 - 5:01pm | 73Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) today reported diluted earnings per share from continuing operations of $0.64 for its fiscal 2011 first quarter ended November 30, 2010. This compares with diluted earnings per share from continuing operations of $0.23 during the first quarter of...
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Calls Purchased on Reliance Steel & Aluminum (RS)
Thursday, January 6, 2011 - 3:12pm | 136Shares of Reliance Steel & Aluminum (NYSE: RS) are higher on the session by 0.72%, currently trading at $53.00. The stock has been moving largely higher over the past six months is currently trading above the 50-day and 200-day moving averages. Options traders are buying calls on the name...
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AK Steel Announces $50 per Ton Price Increase
Thursday, January 6, 2011 - 11:23am | 65AK Steel (NYSE: AKS) said today that it will increase current spot market base prices by $50 per ton for all carbon flat-rolled steel products, effective immediately with new orders. AK Steel said that the price increase is needed to recover higher costs for steelmaking inputs, and is also...
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POSCO - ADR (PKX) - Bull of the Day
Thursday, January 6, 2011 - 3:03am | 183POSCO (PKX) remains well positioned to benefit from a wide regional diversification and a higher proportion of value-added products in its product mix over the longer term. Expectations of higher exports and lower imports of steel in Korea is encouraging for Korean steel companies, apart from...
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POSCO - ADR (PKX) - Bull of the Day
Thursday, January 6, 2011 - 1:00am | 183POSCO (PKX) remains well positioned to benefit from a wide regional diversification and a higher proportion of value-added products in its product mix over the longer term. Expectations of higher exports and lower imports of steel in Korea is encouraging for Korean steel companies, apart from...
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Options Brief: Allegheny Technologies (ATI)
Wednesday, January 5, 2011 - 2:21pm | 101Shares of Allegheny Technologies (NYSE: ATI) are higher on the session by 0.39%, trading at $56.51. Overall put volume is now running at 3.95x the daily average, with 76% of all puts traded being purchases on the offer. 5,378 contracts have traded on the session so far. Allegheny Technologies...
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Cliff Natural Resources Finally Pulls Back. Watch These Levels
Wednesday, January 5, 2011 - 12:01pm | 109Cliffs Natural Resources Inc.(NYSE: CLF) is finally pulling back today trading lower by $1.46 to $83.77. The stock has been one of the leading commodity names making a new 52 week high yesterday. CLF will have good short term intra-day support around the $82.60 level. Should the stock fail to find...