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Steel Dynamics Adds Capacity - Analyst Blog
Thursday, October 7, 2010 - 11:36pm | 419Anticipating a stronger non-residential construction market in the longer term, Steel Dynamics Inc. (STLD), one of the leading steel producers in the U.S., is ramping up steel capacity at its New Millennium Building Systems subsidiary. The company has recently announced its decision to acquire...
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U.S. Steel Looks Like It Wants Higher (X)
Thursday, October 7, 2010 - 9:31am | 69Shares of U.S. Steel (NYSE: X) have been consolidating lately, as seen by a tightening of the Bollinger Bands at the top and bottom of its ranges. It is also near the bottom of the bands, and could see a bounce towards the top of the bands, which is $50.25. Shares of X are up 42 cents to $44.50,...
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SID The Kid: Look At This Steel Stock
Thursday, October 7, 2010 - 9:13am | 355Companhia Siderurgica Nacional (NYSE: SID) is a major steel company in Brazil, and Brazilian equities should have a place in everyone's portfolio, especially if it's yielding, say, over 6%. SID, as it's known on Wall Street, has a market cap around $27 billion, and is a pure play on the booming...
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Benzinga's Top Downgrades (CRNT, MT, BKS, CL)
Tuesday, October 5, 2010 - 7:12am | 142Jefferies downgraded Ceragon Networks Ltd (NASDAQ: CRNT) from "buy" to "hold." CRNT's shares closed at $9.79 yesterday. Ceragon's earnings are likely to drop by 84.93% this year. Deutsche Bank downgraded ArcelorMittal (NYSE: MT) from "buy" to "hold." MT's shares closed at $32.12 yesterday....
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Mittal Steel (MT) Moves Lower
Monday, October 4, 2010 - 5:08pm | 81Mittal Steel (MT) ended the day down 4%. The world's largest steel maker dropped on bad news for commodity forecasts. While gold miners may be booming, steel producers have been struggling to regain their pricing power. Competitors like AK Steel (AKS) have recently slashed estimates due to falling...
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Inverse As it Can Get
Monday, October 4, 2010 - 3:39pm | 213This major stock market indexes are trading virtually inverse to the U.S. Dollar Index today. As we all know by now when the dollar is trading higher the stock market indexes will usually deflate and trade lower. That is certainly the case today as most leading commodity stocks are under pressure....
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Metal Stocks Pull Back Sharply
Monday, October 4, 2010 - 12:40pm | 264The markets are continuing to sell sharply after a quick bounce at the low from Thursday. The Dow Jones Industrial Average is lower by 115 points. That is the biggest drop on the Dow in weeks. Fears from Europe are fueling the drop as the U.S. Dollar has spiked higher. Many leading stocks are...
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Steel Dynamics' Standard Rail Approved by Major U.S. Railroads
Monday, October 4, 2010 - 10:45am | 146Steel Dynamics, Inc. (Nasdaq: STLD) today announced that Standard Strength rail produced at its Columbia City, Indiana, mill has been tested and approved by four U.S.-based Class I railroads and by Amtrak (the National Railroad Passenger Corporation). The Class I railroads include the BNSF Railway...
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This Index Holds The Cards
Monday, October 4, 2010 - 10:02am | 191This morning the U.S. Dollar Index is starting the session slightly higher. As we all know when the U.S. Dollar Index trades higher the stock markets will usually deflate. This is evident at the open of the New York Stock Exchange as many commodity stocks are trading slightly lower. Cliffs Natural...
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Bookkeeping: Weekly Changes to Fund Positions Year 4, Week 9
Monday, October 4, 2010 - 9:36am | 1983Year 4, Week 9 Major Position Changes To see historic weekly fund changes click here OR the label at the bottom of this entry entitled 'fund positions'. Cash: 62.6% (v 63.7% last week) 18 long bias: 25.2% (v 25.9% last week) 7 short bias: 12.1% (v 10.4% last week) [Note: Long bond, long dollar,...
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Barron's "Catch Up" List
Monday, October 4, 2010 - 8:35am | 599The stock market is still climbing a wall of worry greased with lies, according to Barron's. For anyone owning stocks this may come as comforting, however the staggeringly high number of takeover rumors looming may also provide some caution. According to Barron's "September's Standard & Poor...
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Citigroup Reiterates Buy On Cliffs Natural Resources
Monday, October 4, 2010 - 8:12am | 145After spending a few days with Cliffs Natural Resources (NYSE: CLF) executives, Citi analysts reiterate its Buy recommendation. CLF trades at a low 8.2x 2010E EPS which reflects little earnings contribution from troubled net assets and suggests investors give little credit for a possible 2011...
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SinoCoking Announces Fiscal Year 2010 Reveneu Increases 14.8%
Monday, October 4, 2010 - 8:09am | 108SinoCoking Coal and Coke Chemical Industries, Inc. (Nasdaq: SCOK) announced financial results for the fourth quarter and fiscal year ended June 30, 2010. --FY10 revenues increased 14.8% to $59.0 million, led by 74.6% growth in raw coal revenues --Cash flows from operations grew by 49.5% to $17.8...
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Market Keeps Chugging Along 10-01-2010
Friday, October 1, 2010 - 3:20pm | 938Cusick's Corner Some readers have told me that I have been posting the same three sentences in the Corner over the past 5 sessions. (Thanks for the insight Dad, and you are right.) The market in general has been defying the odds, just keeps chugging along. What was interesting yesterday was the...
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Reliance Steel & Aluminum Co. Acquires Diamond Consolidated Industries
Friday, October 1, 2010 - 7:52am | 166Reliance Steel & Aluminum Co. (NYSE: RS) announced today that it has acquired the outstanding capital securities of Diamond Consolidated Industries, Inc. and affiliated companies effective today. The operating entities consist of Diamond Manufacturing Company located in Wyoming, Pennsylvania...