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Commercial Metals Company (CMC)

  • Dec. 6, 2011, 9:38 AM
    Carl Icahn goes hostile with his $1.73B bid to buy Commercial Metals (CMC), saying he intends to initiate a tender offer for all the company's outstanding common shares at $15 a piece. The move comes a day after the metals recycler rejected Icahn's advances. CMC +0.5% at $14.16 premarket.
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  • Dec. 5, 2011, 5:11 AM
    Commercial Metals (CMC) rejects Icahn's unsolicited $15/share offer, saying the $1.73B bid is opportunistic and fails to reflect CMC's true value. Icahn's company said it would "take matters into our own hands" if CMC failed to respond by today.
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  • Dec. 2, 2011, 2:39 PM
    Carl Icahn issues an open letter to Commercial Metals' (CMC -0.2%) board, in which he expresses disappointment at the board's failure to respond to the $15/share buyout offer he made on Monday. Icahn calls the lack of a response "wholly consistent with the pattern of irresponsibility demonstrated by the Company over the years."
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  • Nov. 28, 2011, 9:06 AM
    Bloomberg reports Carl Icahn has offered to buy Commercial Metals (CMC) for $15/share. Last trade on Friday: $11.45. Shares +25.3% premarket.
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  • Oct. 28, 2011, 8:22 AM
    Commercial Metals (CMC): FQ4 EPS of $1.04 vs. consensus of $0.19. Revenue of $2.3B (+24.9% Y/Y) in-line. (PR)
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  • Oct. 28, 2011, 12:05 AM
    Notable earnings before Friday's open: ACI, AGP, AIV, AON, BIIB, BWA, CEG, CI, CMC, COL, CPN, CVH, CVX, D, DTE, GT, IPG, ITT, LEA, LYB, MRK, NEM, NI, NWL, PEG, SWC, TEN, VSEA, WHR, WY
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  • Oct. 25, 2011, 3:27 PM
    Q3 reports from major steel players AKS Steel (AKS -13.4%) and U.S. Steel (X -8.3%) (I, II) - replete with warnings - sweep over the sector taking a bevvy of steel companies lower. KeyBanc's Mark Parr believes the companies are calling out lower-than-expected Q4 earnings with their statements. Decliners: STLD -2.5%, CMC -4%, MT -3.1%, ATI -5.8%.
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  • Oct. 19, 2011, 5:09 PM
    Shares of Commercial Metals (CMC) +5.9% AH as Carl Icahn discloses plans to push out some of the metal recycling company’s directors. Icahn is CMC’s biggest shareholder with nearly 10% of its outstanding stock.
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  • Oct. 7, 2011, 9:24 AM
    Steel manufacturer and recycler Commercial Metals (CMC) announces it's closing an unprofitable Croatian mill, and will cut 1,130 jobs in the process. The company expects to record FY11 pre-tax charges of $135M-$165M related to the closure, and an additional $25M-$40M in closure costs in 2012.
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  • Aug. 5, 2011, 4:06 PM
    Commercial Metals (CMC -3.7%) finishes near its lows for the day after Standard & Poor's said late yesterday that it was reviewing the company for a possible downgrade to junk. The ratings agency cited a sluggish market, and also noted concerns over Carl Icahn's growing holdings in the company.
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  • Jun. 21, 2011, 8:09 AM
    Commercial Metals Company (CMC): FQ3 EPS of $0.31 beats by $0.10. Revenue of $2.1B (+16.7% Y/Y) beats by $0.34B. (PR)
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  • Jun. 21, 2011, 12:05 AM
    Notable earnings before Tuesday's open: BKS, CCL, CMC, JEF, WAG
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  • Mar. 22, 2011, 8:13 AM
    Commercial Metals Company (CMC): FQ2 EPS of -$0.40 misses by $0.33. Revenue of $1.79B (+35.6% Y/Y) beats by $0.06B. (PR)
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  • Mar. 22, 2011, 12:05 AM
    Notable earnings before Tuesday's open: CCL, CMC, DG, JEF, WAG
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  • Dec. 21, 2010, 8:13 AM
    Commercial Metals Company (CMC): FQ1 EPS of $0.01 in-line. Revenue of $1.78B (+27.1%) vs. $1.75B. (PR)
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  • Dec. 21, 2010, 12:05 AM
    Notable earnings before Tuesday's open: CAG, CCL, CMC, KMX
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Company Description
Commercial Metals Co recycles, manufactures, fabricates and distributes steel and metal products and related materials and services through a network of locations throughout the United States and internationally.
Industry: Steel & Iron
Country: United States