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How Much Power Does China Have?
Tuesday, December 21, 2010 - 11:39am | 555Last night the Asian markets all surged higher. The Shanghai, Hang Seng, and the Nikkei Indexes all traded higher by more than 1.50 percent. The rally overseas took place as China voiced support for the recent actions in the European Union. Apparently the world markets are listening to every word...
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Rolling BLA for AMLN's Metreleptin - Analyst Blog
Tuesday, December 21, 2010 - 10:36am | 602Amylin Pharmaceuticals, Inc. (AMLN) recently announced that it has initiated the filing of a rolling Biologics License Application (BLA) for metreleptin. The company is seeking US Food and Drug Administration (FDA) approval for the use of metreleptin in the treatment of diabetes and/or...
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Rolling BLA for AMLN's Metreleptin - Analyst Blog
Tuesday, December 21, 2010 - 10:15am | 602Amylin Pharmaceuticals, Inc. (AMLN) recently announced that it has initiated the filing of a rolling Biologics License Application (BLA) for metreleptin. The company is seeking US Food and Drug Administration (FDA) approval for the use of metreleptin in the treatment of diabetes and/or...
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General Steel's Board of Directors Approves Share Repurchase Program up to 1M Shares
Tuesday, December 21, 2010 - 10:09am | 50General Steel Holdings, Inc. (NYSE: GSI) today announced that the Company's board of directors has approved a share repurchase program. Under the terms of the approved program, General Steel may repurchase up to an aggregate of 1,000,000 shares of the Company's common stock.
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Alpha Natural Bids For Massey Energy (MEE, ANR)
Tuesday, December 21, 2010 - 10:02am | 133Alpha Natural Resources (NYSE: ANR) has offered to buy Massey Energy (NYSE: MEE) according to the Wall Street Journal, which cited members of Massey Energy's board. ArcelorMittal (NYSE: MT) had also expressed interest in Massey, bu ultimately decided not to bid on the company. The company is still...
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Commercial Metals Company Reports 1Q EPS of $0.01
Tuesday, December 21, 2010 - 9:09am | 56Commercial Metals Company (NYSE: CMC) today reported net income of $0.7 million or $0.01 per diluted share on net sales of $1.8 billion for the quarter ended November 30, 2010. This compares with a net loss of $31.2 million or $0.28 per share on net sales of $1.4 billion for the first quarter of...
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Commercial Metals Set to Release Earnings (CMC)
Tuesday, December 21, 2010 - 8:44am | 58Commercial Metals (NYSE: CMC) is set to release earnings this morning at 9:30 AM EST. Q3 conference call will begin at 11:00 AM EST. Analyst consensus is estimating that CMC will earn $0.01 during Q3 with revenue estimates of $1.75B. Look for potential reactions in (NYSE: AKS, NUE, X), CMC...
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PKX Invests in STS Plant in Vietnam - Analyst Blog
Monday, December 20, 2010 - 6:33pm | 361Korean steelmaker, POSCO (PKX) announced investments to establish a cold-rolled stainless steel (STS) plant in Vietnam with an annual capacity of 200,000 tons. The plant is expected to be ready for commercial production by February 2012 and enable POSCO to tap the growing need for cold-rolled...
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PKX Invests in STS Plant in Vietnam - Analyst Blog
Monday, December 20, 2010 - 6:00pm | 361Korean steelmaker, POSCO (PKX) announced investments to establish a cold-rolled stainless steel (STS) plant in Vietnam with an annual capacity of 200,000 tons. The plant is expected to be ready for commercial production by February 2012 and enable POSCO to tap the growing need for cold-rolled...
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ArcelorMittal Setting Stainless Steel Free
Monday, December 20, 2010 - 4:12pm | 136Image by Getty Images via @daylife ArcelorMittal's (MT) board confirmed its plan to spin-off the company's stainless steel division in the hope of 'maximizing shareholder value' and capturing the division's growth potential. The new company, which will be called APERAM, will be listed on several...
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ArcelorMittal Says its Offer Baffinland's Shares is Financially Superior to Nunavut's Coercive Partial Offer
Monday, December 20, 2010 - 3:29pm | 86ArcelorMittal (NYSE: MT) today responded to Nunavut Iron Ore Acquisition Inc.'s recent allegations regarding ArcelorMittal's improved, financially superior offer for Baffinland Iron Mines Corporation. ArcelorMittal's improved offer of C$1.25 in cash per common share provides superior value and...
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Can China Steel Stocks Follow United States Steel?
Monday, December 20, 2010 - 1:57pm | 225Steel companies like United States Steel Corporation (NYSE: X) and AK Steel Holding Corporation (NYSE: AKS) have been ripping higher of late on the back of the continued Federal Reserve's artificial asset and commodity bubble trade. U.S. Steel has jumped from $47.23 to a high today of $59.46 in...
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Monday's Put/Call Ratio Leaders (PKX, GMXR, GRA, VRTX, SLB)
Monday, December 20, 2010 - 1:32pm | 92Here is a quick peek at stocks that have abnormally high daily put/call ratios today relative to their average…. 1. POSCO (NYSE: PKX) 2,993 puts, 71 calls 2. GMX Resources Inc. (NASDAQ: GMXR) 2,509 puts, 129 calls 3. W.R. Grace & Co. (NYSE: GRA) 3,578 puts, 613 calls 4. Vertex Pharmaceuticals (...
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Options Brief: POSCO (PKX)
Monday, December 20, 2010 - 1:24pm | 84Shares of POSCO (NYSE: PKX) are lower on the session by 0.63%, trading at $102.20. Overall put volume is now running at 14.12x the daily average, with 24% of all puts traded being purchases on the offer. 2,993 contracts have traded on the session so far. POSCO is an integrated steel producer in...
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AK Steel Increase Prices for Carbon Steel Products
Monday, December 20, 2010 - 1:09pm | 66AK Steel (NYSE: AKS) said today that it will increase current spot market base prices by $30 per ton for all carbon flat-rolled steel products, effective immediately with new orders. AK Steel said that the price increase is in response to increased demand for carbon steel products, as well as the...