Market Currents

• Wednesday, December 16, 2009

• 12:05 PM KeyBanc Capital looks at rising scrap metal prices and says buy U.S. Steel (X), setting a price target of $65 and seeing scrap upside into January "as flows remain constrained and domestic steelmakers prepare for a seasonal increase in production." Shares +3.3% to $49.84. 1 Comment

• Monday, November 30, 2009

• 08:45 AM Goldman lifts U.S. steelmakers to Attractive. "Steel and scrap prices in the U.S. have bottomed in our view, Chinese prices are rising, inventories remain low, a weak dollar has brought the U.S. close to being a net exporter, and we expect better industrial and auto demand in 2010," firm says, adding U.S. Steel (X) to its Conviction Buy list while removing Freeport-McMoRan Copper & Gold (FCX). X +3.5% premarket. STLD +3.5%. AKS +2.7%. NUE +2.3%. FCX -0.1%. 3 Comments

• Tuesday, October 27, 2009

• 07:40 AM United States Steel (X): Q3 EPS of -$2.11 beats by $0.76. Revenue of $2.82B (-61.5%) vs. $2.72B. Shipment volumes and operating rates increased significantly from the very low levels of Q2. Remains cautious in its outlook for end-user demand, as customer order rates have decreased from Q3. Shares +4.4% premarket. (PR) 1 Comment
• 00:05 AM Notable pre-market earnings: AGCO, AKS, AMTD, AVY, BEAV, BEN, BJS, BP, BYD, CE, CP, CPO, CTV, CVG, ECL, ELNK, ENTG, FE, FPL, GIGM, HSP, IACI, ICON, JCI, LIFE, LLL, PCAR, SAH, TXT, VLO, WYNN, X Comment!

• Thursday, October 8, 2009

• 09:00 AM Premarket gainers: LIZ +15%. NCT +7.5%. VGZ +7%. AA +6%. ING +6%. HEB +6%. MT +6%. AEO +6%. PAL +5%. LCC +5%. RCL +5%. LTD +4%. ANF +4%. TKS +4%. ABB +4%. RTP +4%. ALU +4%. X +4%. NXG +4%.
  Losers: IRE -3%. Comment!

• Thursday, September 17, 2009

• 08:18 AM The Commerce Dept. already imposed duties up to 31% on imports of Chinese steel pipe, but U.S. Steel Corp (X) is pushing for dumping and anti-subsidy duties as high as 90%. A Chinese official warns trade protectionism "will only provoke more such actions." Comment!

• Friday, September 11, 2009

• 12:25 PM Steelmakers including ArcelorMittal (MT) and U.S. Steel (X) ramped up idle North American mills after automakers boosted their production targets. But the end of cash-for-clunkers is forging new doubts about whether the rest of the economy can absorb the new steel. 1 Comment

• Monday, August 17, 2009

• 09:00 AM Premarket gainers: ARIA +7%.
  Losers: IDCC -27%. RST -16%. RAS -13%. LOW -10%. ABK -10%. AXL -10%. TGB -10%. AIB -9%. FRE -9%. FNM -9%. BZH -8%. RTP -8%. YRCW -7%. CENX -7%. HL -6%. LVS -7%. NXG -7%. TCK -7%. GNW -7%. CPST -6%. FIG -6%. HD -6%. YGE -6%. HIG -6%. BCS -6%. RF -6%. LYG -6%. FCX -5%. SOL -5%. AIG -5%. MT -5%. NVAX -5%. ETFC -5%. AEG -5%. FITB -5%. HBAN -5%. ESLR -5%. RTK -5%. X -5%. CNO -5%. CS -5%. Comment!

• Tuesday, July 28, 2009

• 08:32 AM United States Steel Corporation (X): Q2 EPS of -$3.28 beats by $0.17. Revenue of $2.1B (-68.5%) vs. $2.4B. Shares -3.7% premarket. (PR) Comment!
• 00:05 AM Notable earnings before Tuesday's open: AMB, BEAV, BP, CE, CHKP, COH, CVH, DRH, ECL, ELNK, ENR, FPL, IPG, JEC, MHP, NOV, ODP, PCAR, PCX, ROK, SII, SVU, TEVA, TXT, VIA.B, VLO, VSH, WAT, WDR, X Comment!

• Wednesday, July 15, 2009

• 09:01 AM Premarket gainers: GCI +20%. ALU +12%. AMD +8%. INTC +7%. AIB +6%. MT +6%. ING +6%. TGB +6%. AXA +5%. PMI +5%. TSM +5%. HMY +5%. MI +5%. HBC +5%. GNK +5%. HL +4%. BCS +4%. TIE +4%. AKS +4%. NOK +4%. RCL +4%. YGE +4%. VALE +4%. IGT +4%. AUY +4%. COF +4%. EXM +4%. FCX +4%. X +4%. MU +4%. ABX +4%. UBS +4%. DB +4%. Whoa!
  Losers: PAR -22%. JNS -8%. YUM -4% 1 Comment

• Thursday, July 9, 2009

• 09:00 AM Premarket gainers: RIGL +18%. AXL +16%. NVAX +12%. HBAN +11%. CTIC +10%. HGSI +8%. SOL +6%. SKS +6%. AA +6%. ALU +6%. TJX +6%. AAUK +6%. GNW +5%. DB +5%. SAY +6%. TGT +4%. ESLR +4%. SAP +4%. YGE +4%. CLF +4%. MT +4%. ABB +4%. X +4%. F +4%. GOLD +4%. ICE +4%.
  Losers: ELX -14%. AIG -4%. Comment!

• Tuesday, April 28, 2009

• 09:00 AM Premarket gainers: PRXL +21%. BCRX +20%. NVAX +16%. SVA +8%. TLAB +6%. BIDU +3%.
  Losers: RAD -15%. UIS -11%. HSII -10%. LVLT -9%. XL -8%. BAC -8%. X -7%. HL -7%. DB -6%. NRTS -6%. GM -5%. RTP -5%. LCC -5%. MT -5%. ING -5%. C -5%. AIG -4%. BGP -4%. LVS -4%. BBV -4%. COF -4%. DAL -4%. ABX -4%. Comment!

• Monday, April 27, 2009

• 17:05 PM United States Steel (X): Q1 EPS of -$3.84 misses by $2.15. Revenue of $2.75B (-47.1%) vs. $3.14B. "Continues to face an extremely difficult global economic environment." Cuts dividend to $0.05 from $0.30. Will offer 18M shares and $300M in notes to pay back debt. Shares +0.5% AH. (PR) Comment!

• Tuesday, April 7, 2009

• 09:02 AM Premarket gainers: GGP +10%. EAT +9%. SPIL +8%. LNC +8%. GFI +4%. GTI +4%. AU +3%.
  Losers: ACGY -7%. RBS -7%. DB -6%. NOK -6%. MT -6%. IHG -6%. HBAN -5%. UBS -5%. BCS -5%. LVLT -5%. ALU -5%. ACAS -4%. FITB -4%. GNW -4%. BHP -4%. LVS -4%. GNW -4%. JAVA -4%. LOGI -4%. F -4%. CCL -4%. STO -4%. X -4%. VTR -4%. HBC -4%. ASML -4%. BP -4%. SAY -4%. Comment!

• Thursday, April 2, 2009

• 09:00 AM Premarket gainers: MGM +25%. AIB +21%. IRE +20%. EXM +17%. HBC +13%. CNO +13%. GM +13%. GNA +13%. AIG +11%. HBAN +11%. ING +11%. LVLT +9%. MT +9%. DB +9%. SANM +9%. C +9%. BAC +9%. DHI +9%. BCS +9%. ERX +8%. LYBG +8%. HIG +8%. AKS +8%. RF +8%. DYN +8%. CROX +8%. GNW +8%. HOV +8%. LVS +7%. AAUK +7%. X +7%. FITB +7%. BHP +87%. JASO +7%. DOW +7%. SOLF +7%. WYNN +7%. MAC +7%.
  Losers: CDE -5%. ELN -5%. DGP -3%. HL -3%. AUY -3%. RAD -3%. 3 Comments