- The U.S. International Trade Commission ruled in favor of AK Steel (AKS +2.7%) yesterday in an anti-dumping and countervailing trade petition against allegedly cut-priced imports of non-oriented electrical steel from six countries.
- AKS praises the ruling which said the trading practices were causing injury; the preliminary injury determination means that cases against the foreign producers will proceed.
- Earlier, BofA upgraded shares to Neutral from Underperform after adjusting estimated 2013 underfunded legacy liabilities for a better equity return and higher discount rate.