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Is Alcoa a Great Buy Opportunity Today?
Monday, July 11, 2011 - 2:44pm | 613While my crystal ball has been packed away for weeks now, I just might bust it out and shine it off this afternoon, ahead of Alcoa (NYSE: AA) kicking off the summer earning season at the close today. Whether the reported numbers beat or miss analysts' estimates, they will also be compared against...
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Macarthur Receives $5B Offer From Peabody, ArcelorMittal
Monday, July 11, 2011 - 8:05am | 79Macarthur Coal Ltd received a takeover bid from Peabody Energy Corp (NYSE: BTU) and ArcelorMittal (NYSE: MT) that values Macarthur Coal at 4.7 billion Australian dollars (US$5 billion). Macarthur will be offered A$15.50 per share, representing a 40% premium to Macarthur's Monday closing price of A...
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A Peek Into The Market Before The Trading Starts
Monday, July 11, 2011 - 7:57am | 374Pre-open movers US stock futures are lower this morning, as debt fears moved to Italy. Futures on the Dow Jones Industrial Average dropped 102 points to 12,513.00 and futures on the S&P 500 stock index fell 14.70 points to 1,327.10. Nasdaq 100 futures declined 27.00 points to 2,381.50. A Peek...
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Peabody Energy and ArcelorMittal Submit Proposal to Acquire Macarthur Coal for A$15.50 per Share
Monday, July 11, 2011 - 6:59am | 123Peabody Energy (NYSE: BTU) and ArcelorMittal SA (NYSE: MT) earlier today confirmed that they have jointly submitted an indicative proposal to the board of directors of Macarthur Coal Ltd. to acquire all of the shares of the company. Under the proposal by a newly formed company, owned 60 percent by...
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Hottest and Coldest Sectors for Friday 7/8/11
Friday, July 8, 2011 - 5:24pm | 1918The S&P 500 lost 9.4 points, or 0.7%, in Friday's trading session, as a weaker-than-expected jobs report put an end to the recent market rally. The SPX is now 26.78 points lower than its 52-week high of 1370.58, which was set on May 2nd. The Sector breakdown for Friday's session is as follows...
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Iron Ore Stocks Trading News Alert
Friday, July 8, 2011 - 11:40am | 647Point Roberts WA - July 8, 2011 (Investorideas.com Mining Newswire) - www.Investorideas.com, a leader in sector research for investors including mining and resource stocks, issues a trading alert for iron ore stocks. Brazil's Vale (NYSE: VALE), the world's top iron ore miner, expects prices of...
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Jefferies' PT Changes 7/8
Friday, July 8, 2011 - 8:51am | 129Jefferies & Company has changed price targets on the following companies: Cigna (NYSE: CI) Buy, from $62 to $64 Edison International (NYSE: EIX) Buy, from $44.50 to $44 Franklin Resources (NYSE: BEN) Hold, from $130 to $135 GrafTech International (NYSE: GTI) Buy, from $30 to $28 Metals USA...
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Jefferies Initiates Coverage On X
Friday, July 8, 2011 - 8:20am | 95Jefferies is initiating coverage on United States Steel (NYSE: X) with a Hold rating and price target set at $45. Says Jefferies, in the report, “Though valuations look cheap relative to historical mid-cycle earnings, X's unfavorable cost structure poorly positions it in the expected low...
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Jefferies Initiating Coverage On SCHN
Friday, July 8, 2011 - 8:11am | 84Jefferies is initiating coverage on Schnitzer Steel (NASDAQ: SCHN) with a Buy rating and price target set at $70. According to Jefferies, “We're initiating coverage of SCHN with a BUY rating and $70 price target (7.5x 2012E EBITDA). With continued growth from acquisitions and benefits from the...
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Jefferies Initiates Coverage On WOR
Friday, July 8, 2011 - 8:06am | 102Jefferies is initiating coverage on Worthington Industries (NYSE: WOR) with a Hold rating and a $26 price target. In its report, Jefferies writes, “Favorable Long Term Story: Though we maintain a favorable outlook on the company's long term earnings prospects, we see risk-reward as balanced...
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Benzinga's Top Upgrades
Friday, July 8, 2011 - 8:05am | 126Analysts at Robert W. Baird upgraded MedAssets Inc (NASDAQ: MDAS) from “neutral” to “outperform.” MedAssets' shares closed at $13.36 yesterday. MedAssets' PEG ratio is 0.55. Analysts at Ticonderoga upgraded TJX Companies Inc (The) (NYSE: TJX) from “neutral” to “buy.” TJX's shares closed at $54.99...
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Jefferies Assuming Coverage Of RS
Friday, July 8, 2011 - 7:55am | 102Jefferies is assuming coverage of Reliance Steel and Aluminum (NYSE: RS) with a Buy rating and a price target of $69, up from its previous $66. In the report, Jefferies writes, “We assume coverage of RS with a Buy rating and $69 price target. Following the -19% pull back in prices from YTD peaks,...
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Jefferies Initiating Coverage On STLD
Friday, July 8, 2011 - 7:50am | 91Jefferies is initiating coverage on Steel Dynamics (NASDAQ: STLD) with a Buy rating and a price target set at $20. According to Jefferies, “We're initiating coverage on STLD with a BUY-rating and $20 price target. Following the 21% pullback in valuations from YTD highs (currently 8.2x 2012E EPS),...
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Jefferies Initiates Coverage On CMC
Friday, July 8, 2011 - 7:46am | 99Jefferies has initiated coverage on Commercial Metals Co. (NYSE: CMC) with a Hold rating and a $16.50 price target. IN the report, Jefferies writes, “We're initiating coverage on CMC with a HOLD rating and $16.50 price target. Though valuations appear favorable on longer term earnings prospects,...
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Jefferies Initiates Coverage On NUE
Friday, July 8, 2011 - 7:38am | 88Jefferies is initiating coverage on Nucor Corp. (NYSE: NUE) with a Buy rating and a price target set at $52. According to Jefferies, “We are initiating coverage on NUE with a BUY-rating and $52 price target. With the shares having pulled back -16% from YTD highs (currently 5.6x 2012E EBITDA),...