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Brazil Reacts to Steel News in US

Fri, 06 Feb 2009 17:50:00 GMT

In this post, we highlight the following: Gerdau (GGB), Gerdau Ameristeel (GNA) and CSN (SID). Political Marketing and Protectionist Measures Won't Help Brazilian Steel Industry Yesterday the Brazilian Government announced an increase of 26% in the investments of the so-called PAC, a Government sponsored investment plan in infrastructure, to BRL636 billion or US$280 billion until 2010. We understand this announcement as pure marketing. In fact, the PAC itself has a lot of marketing in it, as most of the investments announced are expected to[More...]

Worst Performers Over Last Quarter

Mon, 06 Oct 2008 06:14:00 GMT

And here is the list of worst perfomers... keep in mind this is over a 90 day period. I show 136 stocks that lost at least 45% in the previous quarter. Very bad. The list is obvious - anything global growth, commodity related or the "dead" financial types.CriteriaMarket capitalization $1.25B+Average trading volume 100K+Stock price $0+Return this month -45%+Green names we own, blue names we have owned in the past or discussed in the blog. In orange I listed names we owned at some point during the quarter.[More...]

Periodicals Wrap-Up for Tuesday, August 12th

Tue, 12 Aug 2008 14:36:00 GMT

Posted By Optiondragon for myhappytrading.com- the best social network for traders and investors.[More...]

Post Fed Earnings

Wed, 06 Aug 2008 14:33:00 GMT

Good morning. Investors are sorting through a number of earnings reports including from Cisco Systems (CSCO), Freddie Mac (FRE), Sprint (S), Time Warner (TWX), Priceline.com (PCLN), Ambac (ABK), & Whole Foods (WFMI). Also, oil is trading slightly higher ahead of the government's weekly energy inventory report at 10:35AM. In the early going, premarket futures are mixed as the market hopes to[More...]

Periodicals Wrap-Up for Friday, May 16th

Fri, 16 May 2008 13:51:36 GMT

Submitted By Optiondragon[More...]

Market Review for the Week

Mon, 12 May 2008 03:21:34 GMT

working on a...[More...]

Thank Scrap: The Market For Recycled Metals

Wed, 23 Jan 2008 03:02:27 GMT

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Best Performing Stocks the past Month

Mon, 24 Dec 2007 17:29:48 GMT

Below is a list of the best performing stocks of the past month. I always like to look at these lists to see what the market is favoring, try to find some new ideas, and to see how stocks I favor do in the big scope of things.Since I focus mostly on mid caps and large caps I focused on market capitalizations of $2 billion or greater, trading at least 100,000 shares a day, and a price of at least $10. Using a minimum return of 12% for the past month, the list generated 179 names. Keep in mind the S&P 500 is up around 2.5% in that same time frame, and if not for Friday's big rally it would of been closer to 1.2%. I will highlight in green the fund holdings, and in blue stocks of interest to me (either considering to add to the fund, a stock that has been discussed a lot, or past holdings)<[More...]

Watch List Trade of the Day - ArthroCare Corporation (Public, NASDAQ:ARTC)

Thu, 20 Sep 2007 01:58:10 GMT

ARTC was setting up as a short on the daily timeframe above. We had two NRBs under the 5/20 MAs and a crossover was imminent. Price tried to rally on the open but failed and quickly fell below the MAs on the 15 min.

Gerdau Steel Plant Workers Must Choose Between Severance, Hiring Rights

Fri, 28 Aug 2009 23:48:00 GMT

Aug. 28--Gerdau Ameristeel's union workers in Sand Springs will have to choose between a severance package and their jobs if the company decides to idle the plant for two years.
The company and the local chapter of the United Steelworkers union agreed Thursday night that workers who request a severance will forfeit their recall rights, or the guarantee of being rehired if the mill reopens, Gerdau spokesman Phil Bell said.
Gerdau Ameristeel is weighing the option of idling the plant for two years to make upgrades or closing it entirely due to lower demand for steel and a drop in prices.

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Analyst Picks and Pans: Google, Steel Stocks

Mon, 20 Jul 2009 14:53:00 GMT

After the close of trading July 16, Google Inc. posted second-quarter revenue growth of 5% -- a stark contrast from recent quarters with growth rates of 30% or more.
Adjusted profit of $5.36 per share topped the average estimate of $5.09 per share among analysts polled by Thomson Reuters.
Keith Hughes, an analyst with SunTrust Robinson Humphrey, said July 17 the company's results were better than expected

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State OKs Disputed Alliant Efficiency Plan

Sat, 27 Jun 2009 14:46:00 GMT

Jun. 27--State regulators Thursday approved Interstate Power and Light's five-year energy efficiency plan, citing a weak economy and rising electric rates as it rejected calls for higher efficiency goals.
The Iowa Utilities Board approved a settlement between the utility and several intervenors in the case.
Participating in the settlement were the Iowa Office of Consumer Advocate, the Environmental Coalition and the Community Coalition.

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Gerdau Ameristeel Announces Suspension of Production and Mill Closure

Mon, 08 Jun 2009 21:48:00 GMT

TAMPA, FL, June 8 /CNW/ - Gerdau Ameristeel Corporation (NYSE: GNA; TSX: GNA) announced today that it is suspending production at its Sayreville, New Jersey steel mill and closing its rolling mill in neighboring Perth Amboy, New Jersey due to lower demand for its products resulting from the downturn in the economy.
The company is also entering into discussions with the United Steel Workers regarding the potential closure of the Company's steel mill located in Sand Springs, Oklahoma.
Mario Longhi, President and CEO of Gerdau Ameristeel commented: "This was a very difficult decision that came after careful analysis and review of the marketplace, our production capabilities, and the most cost effective alternatives to meet the current and future needs of our customers throughout North America during this unprecedented economic downturn.

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Steel Workers Facing Layoffs

Tue, 05 May 2009 14:32:00 GMT

May 5--DINWIDDIE -- The parent company of the former Chaparral Steel Co. mill confirmed Monday that it is laying off employees at its locations in the United States and Canada, but declined to give specific information about the effect on their local operation.
Gerdau Ameristeel Corp., based in Toronto, acquired the "mini-mill" in Dinwiddie County as part of its $4.22 billion buyout of Chaparral in 2007.
Gerdau, which has its U.S. headquarters in Tampa, Fla., referred questions about the layoffs to its public relations firm, Burson-Marsteller.

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Rebuilding Lives

Sun, 26 Apr 2009 14:08:00 GMT

Apr. 26--PETERSBURG -- With temperatures soaring into the 90s, volunteers invested some true sweat equity in a dozen homes this weekend.
It was part of Rebuilding Together * Petersburg's 15th annual Rebuilding Days event, a two-weekend affair that started April 18.
Each year, the nonprofit picks a neighborhood in the city and sends volunteers door-to-door to find homeowners who could use help making their houses more livable, said Beth Kirby, Rebuilding Together * Petersburg's executive director.

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Jobless Rate Hits 25-Year High in Minnesota: The State Lost 13,300 Jobs Last Month, Fewer Than the 18,500 Lost in January, but the Jobless Rate Was 8.1%.

Fri, 20 Mar 2009 02:58:00 GMT

Mar. 20--Minnesota's unemployment rate jumped to 8.1 percent in February, the highest rate in 25 years.
Employers in the state shed 13,300 jobs last month, according to figures released Thursday by the Minnesota Department of Employment and Economic Development (DEED).
DEED Commissioner Dan McElroy pointed out that the pace of job losses in Minnesota is slowing but noted that Minnesota and the country are now shedding jobs at nearly the same rate.

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Ameristeel Swings to 4Q Loss

Thu, 19 Feb 2009 20:49:00 GMT

Feb. 19--International steelmaker Gerdau Ameristeel, which has a mill operation in Knoxville, said today it lost $1.3 billion, or $2.97 per diluted share for the fourth quarter of 2008, compared to a profit of $141.4 million, or $1.65 per diluted share, in the fourth quarter of 2007.
The loss for the quarter ended Dec. 31, 2008 includes a non-cash goodwill impairment charge of $1.2 billion.
For the year ended, Dec. 31, 2008, the company posted a loss of $542 million, compared to a profit of $538 million in 2007.

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Gerdau Ameristeel Announces Completion of 10 3/8% Senior Notes Redemption

Mon, 31 Aug 2009 20:05:00 GMT

TAMPA, FL, Aug. 31 /CNW/ - Gerdau Ameristeel Corporation (the "Company") (NYSE: GNA; TSX: GNA) today announced that it has completed the previously announced redemption of its $405 million 10 3/8% Senior Notes due 2011 (the "Notes") at a redemption price in the amount of $417,626,662, representing 101.792% of the outstanding principal amount plus accrued interest to the redemption date (the "Redemption Price"). The Redemption Price was paid entirely with cash and the Notes were paid in full and are no longer outstanding.[More...]

Gerdau Ameristeel Reaches Idling Agreement With the USW at the Company's Sand Springs Mill

Fri, 28 Aug 2009 13:49:00 GMT

TAMPA, FL, Aug. 28 /PRNewswire-FirstCall/ - Gerdau Ameristeel Corporation (NYSE: GNA; TSX: GNA) announced today that it has reached agreement with the United Steel Workers (USW) regarding the suspension of production at the Company's steel mill located in Sand Springs, Oklahoma.
In connection with this action, the Company expects to incur an accounting charge within the range it announced on August 6, 2009.
Service to Gerdau Ameristeel customers will be uninterrupted and will be provided by the company's extensive network of mills in North America.

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Gerdau Ameristeel Announces 2009 Second Quarter Results

Thu, 06 Aug 2009 12:30:00 GMT

TAMPA, FL, Aug. 6 /PRNewswire-FirstCall/ - Gerdau Ameristeel Corporation today reported a net loss of $57.6 million for the three months ended June 30, 2009, in comparison to net income of $262.1 million for the three months ended June 30, 2008. Included in these results is a $36.5 million pre-tax non-cash charge related to actions announced in early June to close or suspend production at certain of the Company's steel mills. Excluding these charges, the Non-GAAP Adjusted Net Loss was $30.7 million .[More...]

StreetInvesting.Com Free Research on AGN, DAL, CYH, GNA, JBL and DT

Tue, 04 Aug 2009 15:08:00 GMT

Investors seeking the best unbiased research on Allergan Inc. (NYSE: AGN), Delta Air Lines Inc. (NYSE: DAL), Community Health Systems Inc. (NYSE: CYH), Gerdau AmeriSteel Corp. (NYSE: GNA), Jabil Circuit Inc. (NYSE: JBL) and Deutsche Telekom AG (NYSE: DT) should sign up to StreetInvesting.com today to gain free access to the most educational research reports on the web.
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By opting to register for our free membership at http://www.streetinvesting.com/index.php?id=2 you will gain access to these reports, opinions and much more.

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Notice of Gerdau Ameristeel 2009 second quarter conference call

Mon, 20 Jul 2009 19:56:00 GMT

- 2009 second quarter results to be released before markets open on Thursday, August 6, 2009 -[More...]

Gerdau Ameristeel Announces Intention to Redeem Its 10 3/8% Senior Notes Due at 2011

Fri, 17 Jul 2009 21:54:00 GMT

TAMPA, FL, July 17 /PRNewswire-FirstCall/ -- Gerdau Ameristeel Corporation (the "Company") (NYSE: GNA; TSX: GNA) today announced its intentions to fully redeem its $405 million 10 3/8% Senior Notes due 2011 on August 31, 2009.
The Company intends to fund the Redemption Price with cash.
Upon payment of the Redemption Price on the Redemption Date, all of the Company's 10 3/8% Senior Notes due 2011 will have been paid in full.

[More...]

Gerdau Ameristeel Announces Amendment of Term Loan

Mon, 22 Jun 2009 13:21:00 GMT

TAMPA, FL, June 22 /CNW/ - Gerdau Ameristeel Corporation (NYSE: GNA; TSX: GNA) today announced that it has entered into an agreement with the lenders of the Company's Term Loan Facility which provides temporary flexibility with respect to the facility's covenants. The Term Loan Facility currently has US$ 2.6 billion of borrowings outstanding and Gerdau S.A. and certain of its Brazilian affiliates have guaranteed the Term Loan Facility since its inception in 2007.[More...]