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US Steel Surges After Q1 Earnings Surprise
Friday, May 3, 2019 - 3:33pm | 421United States Steel Corporation (NYSE: X) stock was arc furnace hot on Friday, shooting up more than 17 percent after the company released strong first-quarter earnings that surprised the Street. The company reported earnings of 31 cents a share, far better than estimates of 17 cents that analysts...
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KeyBanc Issues Stronger Forecast For 3 Steel Names
Thursday, January 11, 2018 - 2:47pm | 625The steel sector is looking more attractive than in the past, according to KeyBanc Capital Markets. The Analyst KeyBanc's Philip Gibbs: Upgraded Timkensteel Corp (NYSE: TMST)'s from Underweight to Sector Weight with no assigned price target, but a $16 "fair value...
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China, U.S. Hot Rolled Coil Steel Spread Explodes; Cowen Forecasts Short Life Expectancy
Tuesday, May 17, 2016 - 10:53am | 329The Market Vectors Steel (ETF) (NYSE: SLX) has gained nearly 30 percent thus far in 2016 as China transitions away from investment mode and into consumption mode. The spread of Chinese vs U.S. Hot Rolled Coil (HRC) has swelled above recent highs. The China/U.S. spread now stands around $242 and...
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Steel Price To Recover In 2016, Major Bank Predicts
Tuesday, November 24, 2015 - 4:44pm | 499Timna Tanners of Bank of America is expecting 2016 benchmark US hot rolled coil (HRC) to average $455/short ton, marking an increase from current spot prices of around $375 to $390 per ton. Tanners suggested that minimills will prove to be the "more attractive" investment option...
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Gordon Johnson Of Axiom Capital Not A Believer In U.S. Steel Rally
Wednesday, January 28, 2015 - 6:07pm | 678Back in September, Benzinga reached out to Gordon Johnson of Axiom Capital to weigh in on the parabolic rally in shares of United States Steel Corporation (NYSE: X) as the issue approached the $46.00 level. To say the least, he was skeptical of the rally and could not come up with a scenario that...