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Gerdau 3Q Plummets, Expenses Soared - Analyst Blog
Monday, November 8, 2010 - 1:33pm | 705Brazilian steel producer Gerdau S.A.'s (GGB) third quarter 2010 net income plummeted 7% year over year to R$609.0 million (US$346.0 million) and registered a 28.9% sequential decline. Earnings per share (EPS) were R$0.38 (US$0.22 per ADR), compared with R$0.39 (US$0.0.24 per ADR) in the year-ago...
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Hudson Securities Maintains Hold On General Steel Holdings (GSI)
Monday, November 8, 2010 - 12:18pm | 110Hudson Securities is reiterating its Hold rating on shares of General Steel Holdings, Inc. (NYSE: GSI). In the research note, Hudson writes, "We are maintaining our Hold recommendation for the common shares of General Steel Holdings (GSI). With a reported gross margin of 3.5% from 1.3% in 2Q2010...
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ArcelorMittal Announces All Cash Offer to Acquire Baffinland
Monday, November 8, 2010 - 10:57am | 162ArcelorMittal S.A. (NYSE: MT) announced today that it has entered into a support agreement with Baffinland Iron Mines Corporation pursuant to which ArcelorMittal has agreed to make an offer to acquire all of Baffinland's issued and outstanding common shares and all outstanding common share purchase...
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AK Steel Increases Prices For Carbon Steel Products
Friday, November 5, 2010 - 3:16pm | 88AK Steel (NYSE: AKS) said today that it will increase current spot market base prices for all carbon flat-rolled steel products effective immediately with new orders. Base prices for hot rolled products will increase by $30 per ton. Base prices for cold rolled and all coated products will...
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Mechel Breaking Out; Calls Active (MTL)
Friday, November 5, 2010 - 10:32am | 153Shares of Mechel OAO (NYSE: MTL) are higher on the session by 2.45%, currently trading at $25.89. The stock has been moving largely higher over the past four months and is now making a run higher, above the 50-day and 200-day moving averages. Above $25.42 and the stock has plenty of room to run....
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Gerdau S.A. Announces Net Income Of R$609 In Q3
Friday, November 5, 2010 - 8:45am | 121Gerdau S.A. (NYSE: GGB): Net Sales reached R$ 8.2 billion in the 3Q10, 20% more than 3Q09, due to the higher shipments and, to a lesser extent, the higher net sales per ton sold. 3Q10 EBITDA reached R$ 1.3 billion, compared to R$ 1.4 billion in 3Q09. The EBITDA margin reached 15% in the 3Q10,...
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A. M. Castle & Co. Reports 2010 Third Quarter EPS of $0.00
Friday, November 5, 2010 - 8:07am | 82A. M. Castle & Co. (NYSE: CAS) today reported financial results for the third quarter ended September 30, 2010. Consolidated net sales for the third quarter of 2010 were $244.9 million, or 33.1% higher than the third quarter of 2009, reflecting stronger demand in nearly all of the Company's key...
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Earnings Preview: Gerdau S.A. - Analyst Blog
Thursday, November 4, 2010 - 6:54pm | 663Gerdau S.A. (GGB) is slated to release its third quarter 2010 results on Friday, November 5. The current Zacks Consensus Estimate for the third quarter is 28 cents, representing an annualized growth of 21.74%. Considering the earnings surprise, Lamar Advertising has outperformed the Zacks...
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Ternium Revenue 10% Lower, J.P. Morgan Reports
Thursday, November 4, 2010 - 9:28am | 102Revenues for Ternium's (NYSE: TX) North American segment were 10% lower QoQ (5% below JPMe), driven mainly by weakerthan- expected shipments (-6% QoQ and 5% below JPMe), J.P. Morgan reports. Prices also suffered, 4% lower QoQ (though in line with JPMe). “Weaker NA results were partially offset by...
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IBM Outlines Vision of More Intuitive Internet
Wednesday, November 3, 2010 - 11:49am | 435An IBM-led team (NYSE: IBM) of researchers has mapped out a smarter, more intuitive version of the Internet - one you can assign tasks to make your life easier, such as ordering taxis, managing social engagements or even paying bills. The research was released today at the 20th annual CASCON, a...
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Stock Market News for November 3, 2010 - Market News
Wednesday, November 3, 2010 - 10:00am | 1144Stocks advanced broadly on Tuesday as investors turned their focus toward the results of mid-term elections and a two-day Federal Reserve meeting that is expected to unveil more measures to revive the economy. The advance sent the Dow average to its highest close in more than six months as most of...
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Steel Stocks Show Signs Of Life
Tuesday, November 2, 2010 - 12:16pm | 226The steel stocks have been one of the few sectors to fail at any sort of rally in the last two months. While other stocks like Southern Copper Corporation (USA) (NYSE: SCCO) have doubled in price, steel plays have stayed near their 2010 lows. Recently, United States Steel Corporation (NYSE: X)...
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Zacks Industry Outlook Highlights: U.S. Steel Corporation, POSCO, Vale, Rio Tinto and BHP Billiton - Press Releases
Tuesday, November 2, 2010 - 11:00am | 1227For Immediate Release Chicago, IL – November 1, 2010 – Today, Zacks Equity Research discusses the Steel Industry, including U.S. Steel Corporation (X), POSCO (PKX), Vale (VALE), Rio Tinto (RTP) and BHP Billiton (BHP). A synopsis of today's Industry Outlook is presented below. The full article can...
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PKX Expands Globally, Raises Fund - Analyst Blog
Tuesday, November 2, 2010 - 9:35am | 420POSCO (PKX) joined forces with SK Energy by signing a memorandum of understating to study the possibilities of developing and commercializing value-added chemical products from the industrial by-products of the two companies. Through this partnership, POSCO aims to achieve international expansion...
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For Nucor Corporation (NYSE:NUE) Investors, it May Pay to be Patient
Tuesday, November 2, 2010 - 9:27am | 1762Iron and steel mining name Nucor (NYSE:NUE) has settled into a trading range of late, bouncing back and forth between the 35 and 40 levels since early July. Judging from some volume in the Nucor options pit Monday, it looks as though a large-scale investor may be targeting a breakout from this...