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Metals and Mining Review - Sept. 2010 - Industry Outlook
Tuesday, August 31, 2010 - 6:12pm | 2617Overview The Metals & Mining Industry encompasses the extraction (mining), as well as the primary and secondary processing of metals and minerals such as aluminum, gold, precious metals, coal and steel. The industry is oligarchic in structure, with a few producers accounting for the lion’s...
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Mesabi Trust Continues Higher (MSB)
Tuesday, August 31, 2010 - 3:56pm | 127Yesterday, I mentioned a little known trust company, called Mesabi Trust (NYSE: MSB). It was up on strong volume yesterday, and is up on strong volume again today. MSB is currently gaining 98 cents, good for a gain of 3.7% to trade at $27.22. Earlier, in the day, it hit its 52 week high of $27.50...
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Materials Stocks Rising On Strong Chicago PMI (X, FCX, CLF)
Tuesday, August 31, 2010 - 10:21am | 88Materials stocks are getting an early boost Tuesday after a regional report showed expansion in August. The Chicago Purchasing Manager's Index came in at 56.7 for August. While lower than the 57.0 consensus, any reading above 50 indicates expansion in the sector. U.S. Steel (NYSE: X) is up $1.48,...
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When Markets Decline On Light Volume Watch Out!
Tuesday, August 31, 2010 - 10:16am | 445In March 2009, the S&P 500, and the Dow Jones Industrial Average found a low and staged a sharp recovery rally into April 2010. Throughout that time that the market rallied higher the volume was extremely light. However, when the stock market indexes had corrections in June 2009, and January...
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Chicago PMI Shows Expansion (AA, X)
Tuesday, August 31, 2010 - 10:04am | 88The Chicago PMI in August was 56.7 versus the 57.0 consensus estimate. In July the reading was 62.3. A reading over 50 indicates expansion in the sector. The employment component of the index fell to 55.5 from 56.6 in July. New orders fell to 55.0 from 64.6 in July. The Chicago PMI survey registers...
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Zacks #5 Rank Additions for Tuesday - Tale of the Tape
Tuesday, August 31, 2010 - 7:33am | 350Here are 5 stocks added to the Zacks #5 Rank ("strong sell") List today: A-Power Energy Generation Systems, Ltd (APWR) ArcelorMittal (MT) Bally Technologies Inc (BYI) BB&T Corp (BBT) China Nepstar Chain Drugstore Ltd (NPD) View the entire Zacks #5 Rank List. A-POWER ENERGY (APWR):...
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Volume is Still Missing 08-30-2010
Monday, August 30, 2010 - 7:06pm | 693Cusick’s Corner Today’s market action was good for traders, but uncertainty and emotion are also high. What’s missing is volume, so you should keep an eye on volume to see if this recent M&A activity pulls in some larger players over this upcoming holiday weekend. Watch Consumer Confidence...
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Merger Monday 08-30-2010
Monday, August 30, 2010 - 3:15pm | 816Cusick’s Corner Why is there all this merger talk? Cash -- these large caps are sitting on cash and they have to spend it either on a competitor or buy a struggling best of breed in a segment that may strengthen position in that market space or balance sheet. A great example of this is Intel’s (...
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AK Steel Rises On Takeover Chatter (AKS)
Monday, August 30, 2010 - 2:21pm | 69Shares of AK Steel (NYSE: AKS) are moving higher today on takeover rumors. The stock is up fractionally to $12.62, but had been up over 3.5% in early morning trading. Traders are also eyeing the September 14 and 15 calls. The Sept. 14 calls have had 7,402 contracts traded today versus an open...
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3 Strong Stocks Today (SAM, MSB, JKS)
Monday, August 30, 2010 - 2:09pm | 240Stocks are near their lows of the session, with each of the broader indexes down at least 0.8%. Here are three stocks that are significantly outperforming the broader markets today, and on strong volume. Shares of Boston Beer Company, Inc. (NYSE: SAM) are up 94 cents, good for a gain of 1.4% to $66...
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Worthington Industries Declares Quarterly Dividend of $.10
Monday, August 30, 2010 - 1:53pm | 56The board of directors of Worthington Industries, Inc. (NYSE: WOR) has declared a quarterly dividend of $0.10 per share. The dividend is payable on September 29, 2010, to shareholders of record September 15, 2010. This marks the 171st consecutive quarter that Worthington has paid a dividend since...
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AK Steel Shares Rise On Take Over Speculation (AKS)
Monday, August 30, 2010 - 11:31am | 67AK Steel (NYSE: AKS) shares are spiking this morning on take over chatter. This chatter seems to make it's rounds every month. Shares are currently trading up 32c or 2.4% on 4million shares. Options traders speculated on the September 15 and 16 calls with nearly 8k trading across both strikes. (...
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Citi Raising Estimates On Cliffs Natural Resources (CLF)
Monday, August 30, 2010 - 7:23am | 177Citi Investment Research is raising its earnings estimates on shares of Cliffs Natural Resources Inc (NYSE: CLF), as the investment bank also raises its outlook on iron ore. It has a $87 price target and a Buy/High Risk rating on Cliffs. In a note to clients, Citi writes, "Key changes to the...
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Posco Acquires Daewoo For $2.8 Billion
Monday, August 30, 2010 - 1:31am | 113South Korea's Posco (NYSE: PKX), the world's third-largest steelmaker, will acquire Daewoo International for $2.8 billion in effort to boost its sales network and trim raw materials prices. The purchase price represents a 53% premium to where Daewoo shares closed on Friday. The purchase is Posco's...
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Bearish MACD for Steel Dynamics - Tale of the Tape
Friday, August 27, 2010 - 6:03pm | 116Steel Dynamics, Inc.’s (STLD) MACD indicator has entered into bearish territory with a reading of -0.1997. The Zacks #5 Rank (“Strong Sell”) stock decreased slightly to $13.30 in morning trade. The Zacks Consensus Estimate for the year ending December 2010 has dropped 19 cents over the past two...