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Freeport McMoran Copper & Gold (FCX) Hits 200 Day Moving Average
Thursday, January 28, 2010 - 2:48pm | 551Freeport McMoran & Gold (FCX) probably represents the "early cycle recovery, weak dollar" story in 2009 better than any other stock. It was to 2009 what oil was to 2007. Despite 5 year highs in copper inventories, and 1 country doing just about all the marginal buying - speculators rushed in...
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Benzinga’s Top Downgrades (ATK, QCOM, TAYC, GGB, WCRX)
Thursday, January 28, 2010 - 10:10am | 256Alliant Techsystems Inc. (NYSE: ATK) was downgraded today by Credit Suisse to Neutral from Outperform. The 52-week trading range for ATK is $60.76 - $91.39. Alliant Techsystems closed at $84.20 in the previous trading session. QUALCOMM, Inc. (NASDAQ: QCOM) fell 8.58% to $43.19 in the pre-market...
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Potash (POT) Beats But Guides Down for Q1 and Full year 2010
Thursday, January 28, 2010 - 9:53am | 917I have not been expecting anything particularly strong out of Potash (POT) - it was a lower risk way to play the "weak dollar, commodities must go up as the economic boom returns" thesis. Today's results were so-so, a small beat versus estimates but lowering of guidance for 2010. I had not...
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U.S. Steel Falls Off a Cliff
Wednesday, January 27, 2010 - 2:42pm | 134U.S. Steel (NYSE: X) is selling off in dramatic fashion today, currently down 8.61%, in reaction to another debt downgrad by Fitch. The company’s debt was revised downward to “BB+,” which is in junk territory. Fitch cited “lack of visibility into the strength of the recovery and the timing of U.S....
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Metals Stocks Collapse Lower, Will There Be A Bounce? (NYSE:X), (NYSE:AA), (Nasdaq:CENX)
Wednesday, January 27, 2010 - 2:40pm | 704On December 28th, 2009, I stuck my neck out on the line once again to call for a 10% or more correction on metal stocks like United States Steel Corporation (NYSE: X), Alcoa Inc. (NYSE: AA) and Century Aluminum Company (Nasdaq: CENX). Below is a chart listing the prices when the call went out....
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United Steel (X) Loses Third of its Value in 5 Sessions as Reality Finally Trumps Perception
Wednesday, January 27, 2010 - 12:38pm | 1553United Steel (X), along with any number of names of late ... Capital One Financial (COF), Harley Davidson (HOG) come to mind but I am seeing many other examples... showcase why the stock market is such a difficult place to ply a trade. The latter two stocks were names I was attempting to short...
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Goldman Gets Neutral On X
Wednesday, January 27, 2010 - 11:24am | 68Goldman downgraded US Steel (NYSE: X) from “buy” to “neutral.” The target price for X has been reduced from $67 to $55. Goldman believes that there is no catalyst for X’s shares in sight at the moment. The 52-week trading range for X stands at $16.66-$66.45. The company’s shares have lost 10.00%...
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Benzinga’s Top Downgrades (MCK, CTCM, X, VZ)
Wednesday, January 27, 2010 - 9:43am | 212McKesson Corporation (NYSE: MCK) declined 1.12% to $61.65 after McKesson Corporation was downgraded by Leerink Swann to Market Perform from Outperform. The 52-week trading range for MCK is $33.13 - $64.98. McKesson Corporation closed at $62.35 in the previous trading session. CTC Media, Inc. (...
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ATI Reports Higher-Than-Expected Q4 Results
Wednesday, January 27, 2010 - 9:16am | 42Allegheny Technologies (NYSE: ATI) reported its Q4 EPS at $0.36 vs the consensus expectations of $0.23. ATI’s revenues came at $815.7 million vs consensus of $764.57 million. ATI’s shares have gained 1.51% to $43.10 in the pre-market trading.
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U.S. Steel (X) Plunges
Tuesday, January 26, 2010 - 11:10am | 58Shares of U.S. Steel (NYSE: X) are plunging in early morning trading after the company reported a wider-than-expected fourth quarter loss. U.S. Steel is down nearly 10% to $50.62 on extremely heavy trading volume. More than 6.1 million shares have traded hands versus the three-month average daily...
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Stock Market News for January 26, 2010 - Market News
Tuesday, January 26, 2010 - 11:10am | 249This morning, Asian shares dropped sharply today, with the Shanghai Composite down 2.93%; the Hang Seng off 2.38%; and the Nikkei 1.78% lower. A more risk-averse sentiment also followed news that UK's fourth quarter GDP increased at a much less-than-anticipated 0.1%, as the country exited an 18-...
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U.K. Economy Starts To Recover From Deep Recession, (MT, BP)
Tuesday, January 26, 2010 - 9:37am | 107The U.K. economy has started to rebound, emerging from a deep recession that started in the second quarter of 2008. The growth at 0.1 percent was far less than the analysts’ expectations of 0.4 percent. However, this recovery is expected to prove good for companies like ArcelorMittal (ADR) (NYSE:...
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AKS Swings To Profits
Monday, January 25, 2010 - 2:20pm | 195AK Steel Holding Corp (NYSE: AKS) swung to fourth-quarter profits amid a $699.5 million charge taken a year earlier charge. The latest results included a $5.1 million charge associated with a change in tax laws in Pennsylvania. Although the company saw a jump in shipments, average selling prices...
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AK Steel Posts Fourth Quarter Profit (AKS, X, NUE)
Monday, January 25, 2010 - 10:55am | 130AK Steel (NYSE: AKS) posted a fourth quarter profit that exceeded Wall Street expectations. The company earned $39.8 million, or 36 cents per share, during the fourth quarter. The results included a $5.1 million charge related to a state tax law change in Pennsylvania. Revenues fell 9.5% year-over-...
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AK Steel Reports Strong Earnings (AKS)
Monday, January 25, 2010 - 9:55am | 99AK Steel (NYSE: AKS) just released their fourth quarter earnings numbers. The West Chester, OH company beat Wall Street estimates by a wide margin, reporting earnings of 36 cents a share. Analysts had been expecting profits of only $0.20 per share. Year over year revenue dropped 9.5%. The stock is...