Keybanc Ups Universal Stainless; UBS Cuts Steel Dynamics; Compass Insider Buys; Carpenter Q2 Earnings; Newmont's New Legal Chief

Zinger Key Points
  • Keybanc raises Universal Stainless target; UBS lowers Steel Dynamics amid market shifts.
  • Carpenter Tech reports strong Q2; Newmont appoints Peter Wexler as legal chief.

Top Stories for Jan. 25, 2024:

1. Keybanc analyst Philip Gibbs maintained an Overweight rating on Universal Stainless & Alloy Products Inc. USAP and raised his price target from $21 to $22.

2. UBS analyst Andreas Bokkenheuser maintained a Neutral rating on Steel Dynamics Inc. STLD and lowered his price target from $120 to $119.

3. Director of Compass Minerals International, Inc. CMP Joseph Reece disclosed an insider purchase of 5,000 shares at an average price of $21.24 on Jan. 24 for a total of $106,199.

4. The specialty alloy-based materials company Carpenter Technology Corp. CRS reported second-quarter fiscal 2024 earnings of 85 cents​​ per share and revenue of $624.20 million (+7.8% YoY).

Overall operating income was $69.8 million (+1.16% YoY) while operating income for its Specialty Alloys Operations segment was $83.3 million (+3.1% YoY) with an adjusted operating margin of 20%.

President and CEO Tony R. Thene said, “Looking ahead, we are projecting $171 million to $191 million in operating income in the second half of fiscal year 2024. This would result in the most profitable year on record with $310 million to $330 million of operating income.”

5. Newmont Corporation NEM appointed Peter Wexler as its chief legal officer.

CEO Tom Palmer said, “Peter brings decades of world-class legal and risk management experience at global organizations, which will be invaluable as Newmont continues to grow, building on its position as the world's leading gold mining company and robust copper producer.”

Now Read: Intel Q4 Earnings Highlights: Revenue Beat, EPS Beat, Guidance Disappoints, 'Executing Our Mission To Bring AI Everywhere'

Photo: Shutterstock

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CommoditiesSmall CapTop StoriesMarketsminingStories That Matter
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!