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By Bill Sokolis HIGHLIGHTS * Treasuries are holding modestly weaker levels late Monday, narrow ranges since unwinding overnight support, focus on Wednesday's FOMC policy annc - not to mention Friday's employment data for July. * Two-way positioning also noted in SOFR & Treasury options as derivatives desks adjusted to marginal gains in projected rate cuts by year end.
Steel manufacturing market size to grow by USD 369.6 billion from 2022 to 2027, Upsurge in consumption of high-strength steel to boost the market - Technavio
The global steel manufacturing market size is estimated to grow by USD 369.6 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 4.02%.APAC will account for 45% of the market growth during the forecast period.The demand for steel is expected to grow steadily in APAC due to rapid industrialization and infrastructure development.
Thinking about trading options or stock in Tesla, STMicroelectronics, Exxon Mobil, Shopify, or Nucor?
, /PRNewswire/ -- InvestorsObserver issues critical PriceWatch Alerts for TSLA, STM, XOM, SHOP, and NUE. Click a link below then choose between in-depth options trade idea report or a stock score report. Options Report – Ideal trade ideas on up to seven different options trading strategies. The report shows all vital aspects of each option trade idea for each stock.
Thinking about trading options or stock in Tesla, STMicroelectronics, Exxon Mobil, Shopify, or Nucor?
, /PRNewswire/ -- InvestorsObserver issues critical PriceWatch Alerts for TSLA, STM, XOM, SHOP, and NUE. Click a link below then choose between in-depth options trade idea report or a stock score report. Options Report – Ideal trade ideas on up to seven different options trading strategies. The report shows all vital aspects of each option trade idea for each stock.
Thinking about trading options or stock in Spotify, Logitech, Alcoa, Tesla, or Nucor Corp?
, /PRNewswire/ -- InvestorsObserver issues critical PriceWatch Alerts for SPOT, LOGI, AA, TSLA, and NUE. Click a link below then choose between in-depth options trade idea report or a stock score report. Options Report – Ideal trade ideas on up to seven different options trading strategies. The report shows all vital aspects of each option trade idea for each stock.
Baker Botts L.L.P. Represents JSW in Its Antitrust Group Boycott Lawsuit in Southern District of Texas Against Nucor, United States Steel and Cleveland-Cliffs
HOUSTON, June 8, 2021 /PRNewswire/ -- Baker Botts L.L.P. is pleased to represent Plaintiffs JSW Steel (USA) Inc. and JSW Steel Ohio, Inc. (collectively, "JSW") in their important antitrust lawsuit filed today in the Southern District of Texas against three of the largest domestic steel companies, Nucor Corp., United States Steel Corp., and Cleveland-Cliffs, Inc., including its recent acquisition, AK Steel Holding Corp.
Cat says new loader delivers increased productivity
Offering premium performance in the 9- to 11-metric ton (10- to 12-ton) wheel loader class, the new Cat 980 and 982 medium wheel loaders are up to 10 percent more productive and lower maintenance costs up to 20 percent when compared to the previous 980M and 982M powershift models, the company says.
China, India lead gains in 2021 steel production
Analyzing tipping floor composition is likely far down the list of priorities for transfer station operators focused on the day-to-day tasks of managing and moving waste. However, ensuring proper upkeep through proactive repair and replacement is essential for protecting the integrity of these floors, avoiding unnecessary shutdowns, and helping save money.
Graphic Packaging to close Michigan paperboard mill
Constituencies ranging from recycling advocates to stock analysts to executives of scrap-fed electric arc furnace (EAF) steelmaking firms have long held that the EAF sector is well positioned to compete in a fast-changing global economy. The roiling of global markets by the COVID-19 coronavirus seems to be bolstering that point of view.
Earth Day 2020: Taking care of the planet during a pandemic
Earth day is celebrated each year on April 22, with this year marking the 50th anniversary. It all started back in 1970, when a young senator witnessed an oil spill in California and wanted to inspire change for the environment. Organizing teach-ins across U.S. college campuses, April 22 was chosen because it fell between spring break and finals, encouraging more participation.
BCA Product Line Continues To Grow
NTN, the parent company of BCA Bearings, has announced the release of 139 new product SKUs. The new products cover BCA’s wheel hubs and bearings product lines. “Our diligent effort over the last month has resulted in great progress as it relates to the continued expansion of our product offering,” said Matt Gorski, manager of product management.
Jasper Earns Top 25 Ranking on Forbes List of America’s Best Midsize Employers
Jasper Engines & Transmissions has been named one of America’s Best Midsize Employers for 2019 by Forbes magazine. It’s the second consecutive year Jasper has been named to this prestigious list. Jasper Engines & Transmissions has been remanufacturing quality products since 1942. Today, the company is one of the nation’s largest remanufacturers of gas and diesel engines, transmissions, differentials, rear axle assemblies, marine engines, sterndrives, performance engines and electric motors.
Eaton To Supply High-Performance Inverters For Battery-Electric Passenger Vehicle
Eaton’s eMobility business has been chosen by Nidec-PSA Emotors (Emotors), a joint venture between Nidec Leroy-Somer and Groupe PSA, to supply high-performance traction inverters for a battery-electric vehicle platform. Eaton will provide its power-dense inverters to Emotors, which will integrate it with the motor and ship the finished system to its customers for assembly into the battery-electric vehicle.
Michelin Maintains Top-10 Ranking Among America's Best Large Employers
Michelin has been ranked No. 10 by Forbes magazine among the best large employers in the U.S. in 2019. The company ranked as the top tire manufacturer on the list as well. Michelin says it is focused on enhancing employees’ experiences at every stage, from candidate to new-hire to retiree.
CRP Automotive Celebrates 100 Episodes Of ‘Inside The Brands’ Educational Video Series
Monika LaPrete, CRP Industries’ marketing communications director, noted that unlike the previous 99 videos created by the CRP brand management team, the new 100th episode will not cover a particular technical topic, but instead has been cast as a ‘thank you’ to fans and followers of the series and features entertaining bloopers and outtakes.
Transtar Expands Aftermarket Offering To Include Hybrid Drive Batteries
Transtar Industries has introduced an all-new program of remanufactured hybrid drive and electric vehicle batteries. Over the next 10 years, hybrid and electric vehicles are forecast to rapidly gain market share, and Transtar says its new line of direct replacement battery packs positions industry service centers to capture the growing hybrid market and shift demand away from OE dealers. Transtar provides coverage for the most popular hybrid vehicles on the road today.
SENSEN Releases 70 New Speedy Struts
SENSEN-North America (SENSEN-NA) continues to expand its complete strut assembly (CSA) coverage with the release of 70 Speedy Struts.
PPG Completes Acquisition Of Automotive Coatings Manufacturer Hemmelrath
PPG announced that it has completed its acquisition of automotive coatings manufacturer Hemmelrath. Financial terms were not disclosed. Headquartered in Klingenberg, Germany, Hemmelrath is a family-owned manufacturer of coatings for automotive OEMs. The company supplies automotive plants worldwide, and more than 7 million vehicles are coated with its products each year.
MAHLE Aftermarket Awards Florida Tech With The ‘MAHLExRTR’ Grand Prize Ride-Along With Vaughn Gittin Jr.
MAHLExRTR Social Media Promotion Grand Prize winner Robert Lewis and his wife, Vanessa Lewis enjoy themselves at the 2019 Formula Drift championship April 4-5 at Long Beach, California. MAHLE Aftermarket recently awarded Robert Lewis, a technician from Lakeland, Florida, with the grand prize of the “MAHLExRTR” Social Media Promotion. Lewis received a trip to the first round of the 2019 Formula Drift championship April 4-5 at Long Beach, California.
Elgin Industries Earns Top Supplier Recognition From General Motors
Elgin Industries, global manufacturer of engine and chassis components, has again earned Platinum Supplier status from the General Motors (GM) Customer Care and Aftersales organization. Platinum status – GM’s top supplier level – is awarded only to manufacturers that have maintained 100-percent on-time delivery over the course of a year.
Century Tube Has Been Acquired By Nucor Corp.
Angle Advisors has announced that Nucor Corp. has acquired certain assets from Century Tube LLC. Angle Advisors acted as the exclusive investment banking adviser to Century Tube in completing this transaction. Based in Madison, Indiana, Century Tube supplies carbon steel tubing for automotive and other mechanical and structural applications.
Mary DellaValle Appointed Editor Of Tire Review At Babcox Media
Mary DellaValle’s appointment makes her only the 10th editor of Tire Review in its 118-year history. Babcox Media announced that Mary DellaValle has been appointed editor of the Tire Reviewbrand. Since 1901, Tire Review has been committed to helping today’s independent tire dealers run and grow a more competitive business.
Jim Zhang Inducted Into Federated Vendor Hall Of Fame
Left to right: Rusty Bishop, Jim Zhang and Bo Fisher Jim Zhang, founder, chairman and CEO of Friction One, has been inducted into the Federated Auto Parts Vendor Hall of Fame. The Federated Hall of Fame induction took place during the recent Automotive Parts Services Group national meeting held in Lake Buena Vista, Florida. “The Vendor Hall of Fame is reserved for the best of the best,” said Bo Fisher, chairman of Federated Auto Parts.
Nucor's stock slips after revenue rises above expectations while profit declines
Shares of Nucor Corp. NUE, -2.60% swung to a decline of 1.3% in premarket trade Thursday, after the steel products maker reported first-quarter results, while cheering the price increases resulting from tariffs announced on steel imports. Net income slipped to $354.2 million, or $1.10 a share, from $356.9 million, or $1.11 a share, in the same period a year ago. The FactSet earnings-per-share consensus was $1.09.
U.S. stock futures search for a catalyst as earnings stay in focus
U.S. stock-index futures pointed to a roughly flat open Thursday, putting the main gauges on track for a second-straight day of muted action. The equity market is staying on course for a weekly gain, boosted by enthusiasm over first-quarter earnings. Dow Jones Industrial Average futures YMM8, -0.04% dipped by 6 points, or less than 0.1%, to 24,727, while S&P 500 futures ESM8, -0.12% shed 2.45 points to 2,707.25. Nasdaq-100 futures NQM8, -0.02% shed 0.50 point to 6,843.
Metals ETF on track for worst day in a year and a half on trade concerns
The largest exchange-traded fund to track the metals and mining sector tumbled on Thursday, as concerns mounted over the Trump administration's trade policies. The SPDR S&P Metals & Mining ETF XME, -5.45% sank 5% and was on track for its biggest one-day percentage drop since September 2016. Among its biggest components, U.S. Steel Corp. X, -10.38% fell 9.9% while AK Steel Holding AKS, -8.42% was down 8%. Nucor Corp. NUE, -5.82% was down 5.6%. Alcoa Inc. AA, -6.17% tumbled 6%.
Steel and aluminum stocks sink as Trump expected to sign watered down tariff decree
Shares of steel and aluminum producers sank in afternoon trade Thursday, ahead of the expected signing by President Donald Trump of a somewhat softer tariff decree than the one announced last month following widespread pressure to change his tone. Shares of U.S. Steel Corp. X, -3.03% dropped 3.6%, AK Steel Holding Corp. AKS, -3.79% shed 4.7%, Nucor Corp. NUE, -3.18% slid 3.5%, Steel Dynamics Inc. STLD, -3.23% fell 3.6% and Commercial Metals Co. CMC, -3.88% gave up 4.3%.
Metals and mining ETF tumbles after Trump details tariffs policy
The largest exchange-traded fund to track the metals and mining sector fell on Thursday, after President Donald Trump outlined a policy on tariffs that is scheduled to go into effect in 15 days. The SPDR S&P Metals & Mining ETF XME, +0.00% sank 1.9%, with metal stocks leading the way lower. United States Steel Corp. X, +0.50% shed 2.6% while AK Steel Holding AKS, +0.61% was down 3.4% and Nucor Corp. NUE, +0.00% lost 2.9%.
Steel and aluminum stocks rally after Gary Cohn resignation paves way for tariff announcement
Shares of steel and aluminum companies among the few sectors seeing broad gains Wednesday, as the resignation of Gary Cohn appeared to pave the way for President Donald Trump to push through the import tariffs. U.S. Steel Corp.'s stock X, +2.60% surged 2.9% in afternoon trade. Meanwhile, Cowen analyst Novid Rassouli said U.S. Steel's announcement early Wednesday that it restart one of its two blast furnaces and the steelmaking facilities at its Granite City, Ill.
Metals ETF rises on report Trump won't announce steel tariff
An exchange-traded fund that tracks the metals and mining sector rose on Thursday, after CNBC reported that President Donald Trump wouldn't impose tariffs on imports of steel and aluminum at a meeting with industry executives. The SPDR S&P Metals & Mining ETF XME, +1.64% gained 1.1% in volatile trading. Among its specific components, United States Steel Corp. X, +4.71% rose 0.9% while AK Steel Holding Corp. AKS, +5.81% was up 1.9% and Nucor Corp. NUE, +2.30% was up 1.2%.
Steel maker stocks rally as investor prep for potential tariff announcement
Shares of steel makers rallied in premarket trade Thursday, as investors prepped for a possible announcement by President Trump on tariffs. The Wall Street Journal reported that Trump summoned steel and aluminum executives on short notice to the White House for a meeting Thursday, telling them an announcement could be made on curbs on steel and aluminum imports. Shares of U.S. Steel Corp. X, +6.11% rallied 4.5% ahead of the open, AK Steel Holding Corp. AKS, +10.66% climbed 8.0%, Steel Dynamics Inc.
Steel stocks pull back sharply after report that Trump won't announce tariffs
Shares of steel makers pulled back sharply from intraday highs, after CNBC reported that President Trump won't announce tariffs on steel and aluminum imports on Thursday, was investors had previously anticipated. AK Steel Holding Corp.'s stock AKS, +2.52% was up 3.8%, but had been up as much as 12% earlier. Among shares of other steel makers: U.S. Steel Corp. X, +2.44% was up as much as 8.4% earlier, but has pared gains to be up 2.8%; Nucor Corp.
Steel stock investors taken on a wild ride to gains by Trump’s tariff saga
Shares of steel and aluminum companies were taken for a wild ride Thursday, as on-again, off-again then on-again tariff-announcement hopes ended rather well, despite the negative effect on the broader market. Shares of steel and aluminum makers rose in early morning trade as investors anticipated an announcement from President Donald Trump regarding tariffs on steel and aluminum imports.
Trump Today: President tells steel, aluminum executives they’ll have ‘protection’ as he announces tariffs
President Donald Trump on Thursday announced planned tariffs on steel and aluminum imports, as he held another discussion on gun-related violence in schools following the deadly mass shooting in Parkland, Fla. In a meeting with executives from companies including U.S. Steel Corp. X, +6.27% , Nucor Corp.
Steel stocks whipsaw back to sharp gains after Trump unveils tariff plan
Shares of steel makers seesawed back to sharp gains in midday trade Thursday, after President Donald Trump said it would impose a 25% tariff on steel imports and a 10% import on aluminum imports. Shares of AK Steel Holding Corp. AKS, +9.01% shot up 11.9%, U.S. Steel Corp. X, +5.98% ran up 7.8%, Nucor Corp. NUE, +2.74% climbed 3.2%, Commercial Metals Co. CMC, +5.35% surged 5.5% and Steel Dynamics Inc. STLD, +3.44% rallied 4.3%. Aluminum maker Alcoa Corp. AA, +2.51% shares rose 2.6%.
Metals and mining ETF rallies after Commerce Department recommends tariffs
An exchange-traded fund tracking metal and mining companies rallied on Friday, after the Commerce Department recommended tariffs on major metal imports. The SPDR S&P Metals & Mining ETF XME, +2.17% jumped 3.1% and extended its advance throughout the trading day. Thus far this week, it is up 12%, which is set to be its biggest one-week percentage gain since March 2016.
Nucor's stock drops after downbeat profit outlook
Shares of Nucor Corp. NUE, -0.16% dropped 2.4% in premarket trade Thursday, after the steelmaker provided a downbeat profit outlook for the fourth quarter, citing the continued negative impacts of imports. The company said it expects earnings per share of 50 cents to 55 cents, excluding impacts of federal tax legislation. The FactSet EPS consensus was 76 cents, up from 34 cents a year ago.
Steel stocks surges Commerce Dept.'s antidumping ruling on steel from Vietnam
Shares of steel companies rallied Wednesday, after the U.S. Commerce Department announced a preliminary ruling that certain steel products imported from the Socialist Republic of Vietnam made from substrate originating in China are subject to duties. U.S. Steel Corp.'s stock X, +6.66% surged 7.3% in midday trade toward an eight-month high, while AK Steel Holding Corp. shares AKS, +5.50% rose 5.9%. Elsewhere, shares of Nucor Corp. NUE, +1.23% gained 1.6% and Steel Dynamics Inc.
Nucor's stock falls after profit warning
Nucor Corp.'s stock NUE, -0.90% dropped 1.0% in premarket trade Friday, after the steel maker lowered its profit outlook for the third quarter, citing continued import pressure and unplanned outages, as well as "tepid" demand in plate end use markets. The company expects earnings per share for the current quarter of 70 cents to 80 cents, down from $1.00 in the second quarter and below previous guidance that EPS was expected to be "similar" to the first half of the year.
These rapidly growing companies’ shares may rise as much as 74% in the next year
Some investors and analysts say the U.S. stock market rally has exhausted itself. But among large-cap companies generating sales at a fast clip, many may post share-price increases of at least 25% over the next year, according to analysts’ projections. With another earnings season just about completed, the bulls are still roaring, as second-quarter profits for S&P 500 SPX, -0.35% companies are up 11% from a year earlier, per S&P Global Market Intelligence.
U.S. Steel surges 7% as better-than-expected earnings offset Trump comments
Shares of United States Steel Corp. rallied Wednesday to buck the broader trend among steel stocks, after the company swung to a profit in the second quarter from a massive first-quarter loss. The earnings seemed to offset comments from President Donald Trump on Tuesday that signaled a possible change of heart on a plan to impose additional tariffs and restrictions on cheap steel imports.
U.S. Steel tug of war: Fundamental upgrade versus technical ‘death cross
U.S. Steel Corp.’s stock rallied Wednesday after an astute Credit Suisse analyst turned bullish on the steelmaker, but can that trump the looming “death cross” technical pattern that suggests further losses over the longer term? Analyst Curt Woodworth raised his rating on U.S. Steel X, +0.83% to outperform from neutral, citing the belief that steel prices have neared an inflection point, with trade policy providing a tailwind, and given attractive valuations.
Trump win turns Morgan Stanley bullish on steel stocks
Shares of steel companies surged again Monday, after Morgan Stanley turned bullish on the sector, saying Donald Trump’s election win makes the sector investible for the first time in a decade. Analyst Evan Kurtz said he believes President-elect Trump’s promises of increased infrastructure spending and trade protection could push the U.S. steel market into “meaningful undersupply” for the first time since the global financial crisis in 2008 to 2009.
Explore Government Subsidies
Total cost Per capita This state spends at least $~ per year on incentive programs, according to the most recent data available. That is roughly: $~ per capita ~¢ per dollar of state budget Top Incentives by type state_name's incentive and subsidies include: Top Incentives by industry Note Michigan has ended most tax credit programs, but existing credits can be used for years to come. Michigan has also lowered its business tax rate, saving many companies more on their tax bills.
Explore Government Subsidies
The New York Times used a variety of sources to assemble an extensive database of local spending on business incentives. It found that local and state governments give up more than $80 billion a year to companies. The Times included incentives of many types: cash grants, corporate income tax credits, sales tax exemptions or refunds, property tax abatements, low-cost loans or loan guarantees and free services like worker training.
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