Mon, Nov. 21, 1:19 PM
Mon, Nov. 14, 10:31 AM
- AK Steel (AKS +8.8%) shoots to a new 52-week high after Morgan Stanley upgrades steel company shares (SLX +1.7%), including AKS to Overweight from Equal Weight with an $11 price target, up from $5.
- The firm cites Pres.-elect Trump’s proposals for increased infrastructure spending and increased trade protection as having the potential to push the U.S. steel market into meaningful undersupply for the first time since the financial crisis.
- Trump's stimulus plan could conservatively boost steel demand by 20%/year for five years and means continued efforts on the steel trade protection front, Stanley says, raising its mid-cycle price estimate to $225/ton from $175.
- Stanley also upgrades U.S. Steel (X +7%) to Overweight from Equal Weight with a $46 price target, hiked from $19, Tenaris (TS +0.3%) to Overweight with a $42 price target, and Cliffs Natural Resources (CLF +2.3%) to Equal Weight from Underweight with a $9 target, raised from $3.
Wed, Nov. 9, 5:36 PM
Thu, Nov. 3, 4:42 PM
Wed, Nov. 2, 5:35 PM
- AAOI, ABTL, ACET, AGO, AHT, AIRM, AL, AMBC, AMBR, AMED, AMH, ANET, ATSG, ATVI, BBG, BLDR, BNFT, BOJA, BRS, CARA, CARB, CBS, CDR, CECO, CERS, CINR, CLNE, CLVS, COGT, CPSI, CRC, CSC, CSOD, CTRL, CWST, DCO, DCT, ECOM, ECR, ED, EFC, EGN, EGOV, ELY, EOG, EPR, EVC, EXEL, FCE.A, FEYE, FFG, FLDM, FLR, FNGN, FOSL, FPRX, GCAP, GERN, GLUU, GNMK, GNW, GPRO, GSAT, GSBD, GST, GUID, GXP, HCI, HDP, HIL, HTGC, IMMR, IMPV, INAP, INGN, INVN, IVR, JJSF, KAR, KHC, KMPR, KW, LADR, LCI, LGF, LGND, LNT, LOCO, LVS, LXU, MAIN, MDRX, MED, MEDP, MELI, MHK, MITT, MMI, MNST, MRC, MSI, MTD, MTX, MTZ, NAVG, NDLS, NE, NFG, NKTR, NNI, NPTN, NUS, OEC, OLED, OREX, OTEX, OVAS, PBA, PCTY, PDLI, PEN, PETX, PFMT, PODD, QLYS, QRVO, RATE, RMAX, RP, RPXC, RTRX, RVNC, SBUX, SEM, SJI, SLCA, SPPI, SPXC, SSNI, STAA, STAG, STMP, SWIR, SWKS, SYMC, TAHO, THG, TRMR, TRQ, TRUE, TS, TSRO, TWLO, TWOU, TXMD, UBNT, UEIC, UEPS, VRNS, VTL, WEB, WGL, WIFI, WTW, XLRN
Fri, Sep. 30, 10:58 AM
- Textron's (NYSE:TXT) Bell Helicopter unit says it is cooperating with authorities following this week's helicopter crash offshore Angola that killed at least four people, including an employee of pipeline company Tenaris (NYSE:TS); two people from the flight remain missing.
- The Bell helicopter was transferring six people to Chevron’s Tombua-Landana offshore oil platform when the accident occurred on Sept. 26.
Wed, Aug. 3, 4:54 PM
Tue, Aug. 2, 5:35 PM
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Thu, Jun. 23, 9:16 AM
Tue, May 24, 2:53 PM
- Brazilian police say they are investigating local units of U.S. Steel (X -2.1%) and two other international steelmakers, in a second day of raids probing graft at Petrobras (X -0.2%).
- Police and prosecutors allege that Apolo Tubulars, which is 50% owned by U.S. Steel, and Tenaris' (NYSE:TS) Brazilian unit Confab were involved in graft at the state-run oil company; the police say they have no proof of corruption at French pipe-maker Vallourec (OTCPK:VLOUF) but are continuing their investigation of the company's Brazilian unit.
- The actions are the latest in the two-year-old Operation Car Wash probe that has scooped up dozens of Brazil's leading politicians and construction executives as well as top Petrobras officials.
Wed, May 4, 6:04 PM
- Tenaris (NYSE:TS) declares $0.90/ADS annual dividend, in line with previous, including $0.30/ADS interim dividend paid in November.
- Forward yield 3.59%
- Payable May 25; for shareholders of record May 25; ex-div May 23.
Wed, Apr. 27, 11:52 PM
- Tenaris (NYSE:TS): Q1 EPS of $0.02 in-line.
- Revenue of $1.26B (-44.0% Y/Y) misses by $70M.
Tue, Apr. 26, 5:35 PM
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Mon, Apr. 11, 5:38 PM
Wed, Feb. 24, 4:47 PM
- Tenaris (NYSE:TS): Q4 EPS of -$0.08 misses by $0.21.
- Revenue of $1.42B (-47.0% Y/Y) in-line.
Wed, Feb. 24, 10:39 AM
- Tenaris (TS -3.2%) is downgraded to Equal Weight from Overweight with a $25 price target, cut from $28, at Morgan Stanley ahead of tonight's Q4 results.
- Stanley sees limited downside for TS shares given the company's pristine balance sheet and strong free cash flow generation, but consensus earnings expectations appear too high, and today's earnings results could include a dividend cut.
- The firm says U.S. inventories are above nine months of demand, which could last well into 2016 at current activity levels, driving further destocking and potentially bringing U.S. sales to a halt; however, TS has been able to sustain its prices, benefiting from long-term contracts and a better mix.