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Steel Industry: Five Ways To Profit From The Commodity Nobody Likes

Tue, 29 Sep 2009 17:58:16 GMT

Forget Superman… the real man of steel is Lakshmi Mittal, chairman of the world's biggest steelmaker, Arcelor Mittal ADR (NYSE: MT). Mittal has built an empire – and a personal fortune – by being optimistic when it comes to the global steel industry. And he still maintains that confidence today, recently going on record to say that global demand could rise by more than 10% in 2010.[More...]

Options Transactions Signaling Steel Resurgence

Wed, 20 May 2009 17:38:13 GMT

Late last year, steel stocks saw some of the sharpest sell-offs in the market. The Steel Market Vectors Fund (NYSE: SLX) fell from $114 to $20, and most steel producing companies hit five-year lows. The interesting thing is that we’re seeing signals in steel stocks that are strikingly similar to what we saw in coal stocks and the Market Vectors Coal (NYSE: KOL) in late April. At that time, investors saw a 43% jump in about 10 days. Just prior to that jump, coal stocks were seeing bullish positioning and large institutional traders buying far out-of-the-money call[More...]

Market Report For Friday: Apr 17, 2009

Fri, 17 Apr 2009 13:00:45 GMT

(7:11am ET) There was plenty of economic data released in the US during the day; however the equity market sidetracked until 2pm ET, when with prices at modest losing levels on the week until that point, suddenly, and for no discernable reason, there was a rally that left the indexes with small gains through Thursday. Perhaps traders were anticipating a positive quarterly report from Google (GOOG +2.4% on +151% of average daily trading volume)? After the close, the company did not disappoint, beating both revenue and EPS estimates. The company posted net income of $1.42 billion ($5.16/share), up +8% from the $1.31 billion ($4.84/share) recorded during the same period a year ago. Revenue for 1Q2009 increased +10% to $4.07 billion, from $3.7 billion, excluding traffic acquisition costs. On average, analysts had expected earnings per share of $4.93 and revenue of $4.08 billion, according to Yahoo Finance. For the first[More...]

Daily Report For Thursday, Apr 16, 2009

Thu, 16 Apr 2009 13:36:24 GMT

(8:25am ET) The main focus of traders today will be the 1Q2009 earnings report from JP Morgan (JPM), and the close scrutiny of the data and hype that will follow. After hitting a low of $14.93 in early March, JPM has rallied +118.1% to yesterday’s close of $32.56. There was a high of $34.15 on Tuesday. http://tinyurl.com/da6dcv JP Morgan reported Q1 net income of $2.14 billion, or $0.40/share, down -10% from a year earlier, but beat analysts' expectations. Revenue increased +48% to $25.03 billion. WSJ reported that CEO Jamie Dimon said the firm extended about $150 billion in new credit to consumer and corporate customers during the quarter. With a last hour rally spurred by the real estate investment trusts (REITS) ($DJR +8.7%) and Banks ($BKX +5.1%) in the Financial sector (XLF +4.8%), the US equity[More...]

Daily Report For Tuesday, Apr 14, 2009

Tue, 14 Apr 2009 14:18:59 GMT

(9:30am ET) Stocks in NY sank at the open following various negative reports from TV talking heads, though trade volume was weak on the Easter Monday. After the close, Goldman Sachs surprised with unusually positive revenue and earnings. Today, President Obama will be making a speech on the state of the economy. Traders are confused. Yesterday was pretty much a lost day in the market. Very little of consequence happened. By the close, the DJIA’s small loss (-25.57 -0.32% to 8057.81) offset the small gain in the S&P (+2.17 +0.25% to 858.73), while the NASDAQ (+0.77 +0.05% to 1653.31) was flat. The Toronto Composite (+98.50 +1.07% to 9285.6) and the Toronto Venture Board (+11.89 +1.23% to 980.86) were stronger as the metal miners and goldminers enjoyed a good day. Except for Japan’s Nikkei 225 index (-0.92% to 8842.7), prices today were strong in the major international equity markets: Australia (+2.22% to[More...]

Daily Report For Tuesday: Apr 7, 2009

Tue, 07 Apr 2009 13:31:58 GMT

(8:05am ET) Stocks closed Monday's session in NY lower on a lightly-traded day, but much higher Week over Week. Through Friday, the major market indexes saw their largest four-week gains in seventy-six years. Now the market is preparing for 1Q2009 earnings season, which gets underway today with Alcoa (AA). On Monday, the DJIA (-41.74 -0.52% to 7975.85), S&P (-7.02 -0.83% to 835.48), and NASDAQ (-15.16 -0.93% to 1606.71) could not make headway against concerns the major banks may be preparing to release negative quarterly reports. The Toronto Composite (-49.59 -0.55% to 9016.17), and Venture Board (-12.42 -1.27% to 963.17) were also down on the day, but higher Week over Week. In international equity markets today, the closing prices showed losses except for Shanghai China (+0.80% to 2439.2): Australia -1.30% to 3648.5; Hong Kong -0.46% to 14929.0; India -1.80% to 10534.9; and Japan -0.28% to 8832.9. At 7:30am ET,[More...]

Daily Report For Wednesday, Apr 1, 2009

Wed, 01 Apr 2009 14:53:00 GMT

(8:07am ET) In his absence, Bill has asked the CTAB traders fill in for him today and maybe tomorrow as well. Bill was having connectivity and other related computer issues early Tuesday morning. Perhaps the Conficker worm virus programmed to be unleashed April 1, began slithering through the Bahamas a little ahead of schedule. The final trading day of the month opened higher, with aggressive traders nimbly positioning themselves for further short gains, after a late afternoon bounce Monday, anticipating large money managers to “mark up” equities boosting their quarter end returns. This strategy paid off nicely as the S&P future rose to 807, nearly 4% off Monday’s late afternoon low of 776. However, traders expecting prices to close near the highs were disappointed, as stocks peaked near 3pm eastern, giving up a significant portion of the day’s gains. The DJIA finished up 86.9 (+1.15%) closing at 7608.92,[More...]

Daily Report For Friday, Mar 27, 2009

Fri, 27 Mar 2009 13:32:35 GMT

(8:36am ET) On Thursday, the upbeat earnings report of (Cara 100) Best Buy (BBY) served to lift the market at the open. Technologies stocks later were the basis of a closing hour rally. At the close, the DJIA (+174.75 +2.25% to 7924.56), S&P 500 (+18.98 +2.33% to 832.86), and NASDAQ (+58.05 +3.80% to 1587.00) gained for the third day in four this week. The Toronto Composite (+198.06 +2.25% to 8995.50) was in line with NY, but the Toronto Venture Board (+24.98 +2.63%to 974.02) also rallied. In the US equity market, the big winners were the Industrials (XLI +5.4%), Consumer Disretionary (XLY +4.6%) and Basic Materials (XLB +4.0%). All ten sectors were winners, but the laggards on this day were Energy +0.9% and Financials (XLF +1.2%). Within the many industry groups, there were a broad section of technology groups that were on the leader board. Lagging a bit were the Goldminers ($XAU[More...]

Daily Report For Friday, Mar 13, 2009

Fri, 13 Mar 2009 15:55:00 GMT

(9:48am ET) Equity market prices lifted pretty much from start to finish of Thursday’s session. Retail Sales, Jobless Claims and Business Inventories and comments from Barney Frank and Tim Geithner played a role in the general bullishness. The latter made comments on the dangers of ending the mark-to-market rule and instead believe subtle changes could be made in an effort to improve it. Pfizer (PFE) made a big splash with the announcement its Phase III trial of Sutent was stopped early as the drug showed a significant benefit in patients with pancreatic cancer. At the close, the DJIA (+239.66 +3.46% to 7170.06), S&P 500 (+29.38% to 750.74) and NASDAQ (+54.46 +3.97% to 1426.10) were up sharply for the second day in the past three. The Toronto Composite (+271.25 +3.39% to 8282.27) and Venture Board (+19.52 +2.37% to 843.42) were almost as strong. The winning sector by a wide margin was[More...]

Daily Report for Thursday, Mar 5, 2009

Thu, 05 Mar 2009 14:05:00 GMT

Daily Report for Thurs., Mar. 5, 2009 (7:57am ET) Equity markets made steady progress on Wednesday as Energy (XLE +4.8%) and Basic Material (XLB) stocks rallied from the opening bell, giving traders hope that an upside move was about to commence. By the end of the session, the DJIA (+149.82 +2.23% to 6875.84, still down from Friday’s 7062.93 close); the S&P 500 (+16.54 +2.38% to 712.87, still down from Friday’s 735.09); and the NASDAQ Composite (+32.73 +2.48% to 1353.74, still down from 1377.84) showed promise. The Canadian markets were also firm as the Toronto Composite gained +183.13 +2.40% to 7814.75 (down from Friday’s 8123.02 close), while the Venture Board gained just +6.88 +0.83% to 830.95 (down from Friday’s 861.66). Earlier in the day today, Asia-Pacific equity markets were mixed: Australia (+0.73% to 3148.8); Japan (+1.95% to 7433.5); and Shanghai China (+1.04% to 2221.1) were strong, whereas Hong[More...]

New Pittsburg Plant Bucks Trend, Will Employ About 150 People

Tue, 03 Nov 2009 17:50:00 GMT

Nov. 3--PITTSBURG -- In a welcome contrast to local factory closures, a venture of manufacturing companies from the United States and South Korea has opened a $135 million East Bay plant here that will make big pipes for the energy industry.
United Spiral Pipe's new state-of-the-art factory in Pittsburg will employ about 150 people, with room to expand.
The plant produces large-diameter pipes used for transmission of natural gas and oil.

[More...]

New Pittsburg Plant Bucks Trend, Will Employ About 150 People

Tue, 03 Nov 2009 00:50:00 GMT

Nov. 2--PITTSBURG -- In a welcome contrast to local factory closures, a venture of manufacturing companies from the United States and South Korea has opened a $135 million East Bay plant here that will make big pipes for the energy industry.
United Spiral Pipe's new state-of-the-art factory in Pittsburg will employ about 150 people, with room to expand.
The 340,000-square-foot welded pipe factory is a joint venture of American steel titan U.S. Steel Corp., South Korean steel maker POSCO and South Korean tube products maker SeAH Steel Corp.

[More...]

FuelCell Energy Of Danbury Expands S. Korean Deal

Sat, 31 Oct 2009 05:48:00 GMT

Oct. 31--Danbury-based FuelCell Energy Inc. said it has expanded an existing deal with a South Korean power provider that will use the Connecticut company's hardware to manufacture fuel cell stacks.
The South Korean company, POSCO Power, also closed on its previously announced purchase of $25 million in FuelCell Energy common stock at a purchase price of $3.59 per share.
FuelCell Energy said the additional demand would justify expansion of its Danbury operations.

[More...]

Posco to Pay Up to B2.20 for Thainox: Tender Offer Likely to Give 45% Premium

Wed, 14 Oct 2009 21:46:00 GMT

Oct. 14--The South Korean steelmaker Posco is preparing to make a tender offer for the remaining 85 percent of shares of Thainox Stainless Steel Plc within a month at 2.10 to 2.20 baht a share, said a source familiar with the situation.
"The deal is 95 percent complete and everything has been agreed upon with the pricing of the deal way above what the local Thai media has been reporting," said the source who asked not to be named.
"Only something silly can derail the process now, and it should not take more than a month before Posco makes the tender offer for all the shares of Thainox," the source said.

[More...]

POSCO to build plant in Turkey

Fri, 04 Sep 2009 21:27:00 GMT

POSCO to build plant in Turkey[More...]

FuelCell Energy Partners With South Korean Power Company

Wed, 10 Jun 2009 21:02:00 GMT

Jun. 10--FuelCell Energy Inc. announced Tuesday it has entered into an preliminary agreement with a South Korean power producer that wants to begin assembling fuel cells for sale in that country.
The two companies will negotiate a licensing agreement to allow POSCO Power to assemble the FuelCell Energy fuel cells that would be sold in South Korea.
POSCO Power would purchase $25 million in FuelCell Energy common stock at $3.59 per share, the 10-day average of the stock's closing price through June 8.

[More...]

Analyst Actions: Goldman Sachs, Landstar System, Steel Sector

Fri, 17 Apr 2009 14:51:00 GMT

Goldman Sachs Group was upgraded Thursday by Rochdale Securities analyst Richard Bove amid a belief the bank "has solved its capital and cash flow challenges."
Bove upgraded Goldman to buy from neutral and increased his price target to $152 from $142.
"The company appears to be using the most conservative valuation techniques of any bank in the country," Bove wrote in a research note.

[More...]

Sahaviriya Says Scale Critical in Global Steel Battle

Mon, 11 Aug 2008 21:47:00 GMT

Aug. 11--Thailand's biggest steelmaker, Sahaviriya Steel Group of Companies (SVG), is looking for ways to better integrate its operations in a bid to strengthen negotiating power with global steel giants who are hunting smaller firms to acquire.
"We are aiming at investing in ore mining, pushing our 500-billion-baht smelting project to start as soon as possible, and a steel production plant overseas also is in our sights," said group president Win Viriyapraphaikit.
The world's largest steel company, ArcelorMittal, has set the tone for a global wave of consolidation in the industry, and has annual output of 120 million tonnes.

[More...]

Bakun Dam and the New Energy Equation

Mon, 28 Jul 2008 02:47:00 GMT

WITH the snags over underground cables and soaring cost, Sarawak planners, industry experts, activists and locals explore the options with DESMOND DAVIDSON and SANTHA OORJITHAM.
Is Sarawak's Bakun dam on track to become the largest source of cheap, renewable energy in Southeast Asia?
Sime Darby Bhd's recent pullout from the RM6 billion submarine cable project that was to transport power from the dam to the peninsula and its decision not to take a stake in Sarawak Hidro Sdn Bhd (cable developer and owner of the dam), have renewed concerns about its viability and whether it should be part of the peninsula's power mix.

[More...]

Asian Shares Rise, Bolstered By Citigroup News MARKET ROUNDUP

Tue, 22 Jul 2008 10:50:00 GMT

Asian stocks rose by more than 3 percent Monday, the most in four months, helped by results from Citigroup that offered some reassurance about the financial sector's stability.
The U.S. dollar, though, slid with more results from banks due this week.
Oil prices edged up but were still more than $17 below their record high above $147 a barrel this month, a fall that has also supported shares of exporters in the region.

[More...]

MaybachFinancial.Com Posts Free Analyst Report on ELN, PKX, PH and FIS

Mon, 20 Apr 2009 15:49:00 GMT

MaybachFinancial.com is one of the fastest growing independent and unbiased research firms in Europe.
Investors seeking free research on Elan Corporation plc (NYSE: ELN), POSCO (NYSE: PKX), Parker Hannifin Corporation (NYSE: PH) and Fidelity National Information Services Inc. (NYSE: FIS) should take this opportunity to sign up for free subscription by clicking the link below.
Many research reports sell for $15 to well over $1,000 as a member to MBF Financial you can gain access to the top reports for free by simply clicking the link above.

[More...]

BeaconEquity.com Issues Technical Trade Alerts on Copper Stocks: FCX, PCU, SLT, OLN, NEM, PKX

Fri, 05 Sep 2008 13:56:00 GMT

BeaconEquity.com announces the availability of Trade Alerts on stocks making news today.[More...]