ThinkstockAnother earnings warning is out this morning, this time from one of the largest U.S. steel makers. Nucor Corp. (NYSE: NUE) this morning lowered its fourth-quarter diluted earnings per share (EPS) estimate…
Paul Ausick ThinkstockSteelmaker and recycler Schnitzer Steel Industries Inc. (NASDAQ: SCHN) said today that it expects net income for its first fiscal quarter of 2013 ending this month to be breakeven before taking a…
ThinkstockCliffs Natural Resources Inc. (NYSE: CLF), a major producer of iron ore from mines in North America, Brazil, and Australia, has idled some of its North American ore production and will delay…
Steelmaker AK Steel Holdings Corp. (NYSE: AKS) reported quarterly earnings today and the results that were better than expected, but earnings per share (EPS) still came in negative. AK Steel joins both…
The World Trade Organization (WTO) ruled today that the U.S. did not illegally dump a type of specialty steel into the Chinese market beginning in 2010. China imposed 19.5% tariffs on the…
Saying that demand will be soft and prices will be low, Moody’s today changed its outlook for the U.S. steel industry to ‘negative’, indicating that conditions in the steel business will get…
The coal sector may not yet have found a bottom, or at least the prior gains from the bottom may be short-lived. That is the word from Bank of America/Merrill Lynch this…
We noted earlier this morning that China’s National Development and Reform Commission has approved a plan to spend RMB1 trillion (about $158 billion) on infrastructure projects in an effort to boost growth…
Steelmaker Schnitzer Steel Industries Inc. (NASDAQ: SCHN) announced this morning that it would fire 300 workers in a restructuring the company said will save $25 million annually. The restructuring is expected to…
United States Steel Corp. (NYSE: X) is surging after its earnings report. While earnings were half of what they were a year ago, the report was “less bad” than analysts expected. The…
The three major US stock indexes opened modestly lower this morning as there was little news out of Europe and Asian markets closed mixed. Traders were waiting to hear more from Fed…
Global demand for steel remains weak even as prices for iron ore rise slightly indicating that steelmakers could be in for another tough quarter. As if on cue, AK Steel Holding Corp.…
The single most important word in world markets for base metals and steel is “China.” With the slow-motion economic recovery in the global economy, the expected 8% or so growth in Chinese…
Jon OggThese are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls. Arch Coal Inc. (NYSE: ACI) Cut to Sell at Goldman Sachs. Caesars Entertainment Corporation…
Steel maker Steel Dynamics Inc. (NASDAQ: STLD) today cut its EPS guidance by around 50% of the previous consensus estimate of $0.36. The company’s new forecast is for EPS of $0.15-$0.20. Nucor…
