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Commodity Stocks Bounce Reviving Markets
Friday, August 27, 2010 - 12:50pm | 190Commodity stocks have been extremely weak of late and one of the major causes of the weakness in the markets. Pessimism on the global economy has fueled fear of a major drop in demand for oil, copper, steel and others. Stocks like Exxon Mobil Corporation (NYSE: XOM), United States Steel Corporation...
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Will GDP Growth Be Negative in 3Q? - Analyst Blog
Thursday, August 26, 2010 - 4:04pm | 3020Yesterday’s double dose of bad economic news seriously raises the possibility that GDP growth in the third quarter will be negative. That does not mean a double dip for sure, since the general rule of thumb is that a recession is two back-to-back quarters of negative GDP, although the official...
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Market Catches An Early Bid. Here Is The Reason Why.
Thursday, August 26, 2010 - 10:18am | 311The major stock market indexes have all started the session in the positive this morning. Many of the talking heads in the media will say that the catalyst for the small gap higher open was due to the better than expected weekly initial unemployment claims report. While this weekly report was...
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Materials Slide As Risk Aversion Rules (X, AKS, IP, CLF)
Wednesday, August 25, 2010 - 1:18pm | 123Materials stocks are noticeably weak today. This is directly the result of the weaker-than-expected durable goods and new home sales reports today. Steel names are especially weak with U.S. Steel (NYSE: X) down 2.57% and AK Steel (NYSE: AKS) down 2.11%. International Paper (NYSE: IP) is lower by 3....
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U.S. Steel Gives It All Back (X)
Tuesday, August 24, 2010 - 3:48pm | 88Last Thursday U.S. Steel (NYSE: X) way flying high on takeover rumors. The stock touched an intraday high of $51.39 that day. Today the stock is down 4.36% to $43.64. In just four days the stock has lost over 15%!! U.S. Steel is now sitting just above one-month lows of $43 reached in late July. Is...
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Ternium Facing Blockades By Argentinian Truckers (TX)
Tuesday, August 24, 2010 - 12:44pm | 107Ternium (NYSE: TX) is facing blockades at five of its nine steel plants in Argentina. Deutsche Bank said, "Protesting truckers are blocking other trucks from entering or leaving the plants, while demanding higher payments and better conditions. According to MetalBulletin, the San Nicolas plant,...
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Unconfirmed chatter Nucor Corporation (NUE) is Eyeing AK Steel Holding Corporation (AKS) at 25.00 a share
Tuesday, August 24, 2010 - 11:47am | 51Unconfirmed chatter that Nucor Corporation (NUE) is Eyeing AK Steel Holding Corporation (AKS) at $24.00.Neither company could be reached for comment(AKS),(NUE)...
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Bad ETF Trade Idea Of The Week: Merger Arbitrage ETF
Saturday, August 21, 2010 - 8:24pm | 374August is typically a boring month for the markets, especially when it comes to mergers & acquisitions activity, but that theory was shattered this week with a spate of multi-billion M&A news. In the banking sector, First Niagara Financial (Nasdaq: FNFG) said it would acquire NewAlliance (...
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Benzinga’s Top Upgrades (RSG, SYMC, LYG, TX)
Friday, August 20, 2010 - 7:04am | 154Republic Services Inc (NYSE: RSG) was upgraded by Goldman Sachs from "neutral" to "buy." RSG’s shares closed at $30.11 yesterday. Republic Services’ earnings are likely to grow by 249.27% this year. UBS upgraded Symantec Corporation (NASDAQ: SYMC) from "neutral" to "buy." SYMC’s shares closed at $...
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Barclays Upgrades TX To Overweight
Friday, August 20, 2010 - 6:35am | 50Analysts at Barclays Capital upgrade Ternium SA (NYSE: TX) from "equal weight" to "overweight." The target price for TX is set to $47. TX’s shares fell 0.57% to close at $32.90 yesterday. More Analyst Ratings here
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Stock Market News for August 19, 2010 - Market News
Thursday, August 19, 2010 - 1:34pm | 1252Stocks managed to close higher for a second consecutive session, but the gains were modest as weakness in energy shares offset strength in retailers’ stocks. Target led the strength in stocks of consumer-discretionary companies after its profit outlook for the current quarter matched Street...
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Earnings Scorecard: SID - Analyst Blog
Thursday, August 19, 2010 - 12:04pm | 716Companhia Siderurgica Nacional (SID) or CSN reported encouraging results for the second quarter of 2010 with robust increases registered in its net income and revenue. Despite positive results and improving global steel market, near-term outlook for the company is dimmed by expectation of lower...
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Market Data Ugly As Bearish M Pattern Forms
Thursday, August 19, 2010 - 11:32am | 254The markets are forming a classic “M” pattern on the intra day. This can be seen clearly by looking at the chart below of the SPDR S&P 500 ETF (NYSE: SPY). According to the M-A pattern formation, the markets may be now due for a small up move, prior to the next down leg. This portion would be...
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Sounds Like China Is Lying.. So What Else Is New?? (BHP, RTP, VALE)
Thursday, August 19, 2010 - 10:51am | 535Chinese steelmakers appear to be gaining back bargaining power over their iron ore contracts the China Iron & Steel Association (CISA) said. Only thing is, I'm not sure how this is true. The facts just don't support the thesis. Since early July, iron ore prices have continued to climb on a...
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What Straddle Pricing Can Tell Us 08-18-2010
Wednesday, August 18, 2010 - 6:31pm | 799Cusick’s Corner Not much has changed since the Midday, so I will keep this Corner short and sweet. The Claims data that comes out tomorrow morning could add some volatility pre-market, but at this stage it looks like an orderly expiration week. I spent some time looking at straddles today (option...