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Will U.S. Steel Benefit as Japan Rebuilds?

The crisis in Japan will require all sorts of construction materials for rebuilding destroyed buildings and factories. Steel is used in most construction projects. Here in the United States, U.S. Steel (X) is a dominant player.

Let's look at the company profile and earnings reports. "Based in Pittsburgh, the company operates mills throughout the Midwest, in Ontario, Canada, Serbia and Slovakia. The company makes semi finished steel, tubular and plate steel and tin products. Its annual production capacity is about 32 million tons of raw steel. The company's customers are from autos, chemical and steel service center industries."

Continue reading Will U.S. Steel Benefit as Japan Rebuilds?

US Steel Hurt by Slowing Global Demand

X logoUS Steel (X - option chain) stock is trading lower today after the World Steel Association said global steel demand growth will slow in 2011 as China's real estate market softens. The World Steel Association cut its 2011 growth forecast to 5.3% from 13.1%. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on X.

This morning, X opened at $43.11. So far today the stock has hit a high of $43.11 and a low of $42.01. As of 12:10, X is trading at $42.06, down $1.57 (-3.6%). The chart for X looks bullish and S&P gives X a positive 4 STARS (out of 5) buy ranking.

Continue reading US Steel Hurt by Slowing Global Demand

US Steel Tanks After Q2 Loss

X logoUS Steel (X - option chain) stock is trading lower today after the company reported Q2 2010 earnings this morning, posting a loss of $25 million, or 17 cents per share. Excluding one-time items, X earned 45 cents per share on revenue of $4.68 billion. Analysts had forecast a profit of 63 cents per share on revenue of $4.63 billion. The company said it expects to return to profitability in the third quarter. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on X.

This morning, X opened at $47.70. So far today the stock has hit a high of $70.95 and a low of $33.25. As of 12:05, X is trading at $45.98, down $2.91 (-5.9%). The chart for X looks bullish and S&P gives X a positive 4 STARS (out of 5) buy ranking.

Continue reading US Steel Tanks After Q2 Loss

Earnings Highlights: IMAX, Kellogg, Sprint, 3M, UPS, Viacom, Visa and More

Here are some highlights from this past week's earnings coverage on BloggingStocks:

  • Coinstar Inc. (CSTR) shares surged following stronger-than-expected Q1 earnings driven by DVD rentals.
  • Humana Inc. (HUM) shares traded lower despite the report of better-than-expected earnings for Q1.
  • IMAX Corp. (IMAX) reported strong Q1 results that easily topped consensus estimates, but shares declined.
  • Kellogg Co. (K) topped Q1 earnings expectations and announced a share buyback program.
  • Office Depot Inc. (ODP) Q1 earnings fell short of consensus estimates and same-store sales declined.

Continue reading Earnings Highlights: IMAX, Kellogg, Sprint, 3M, UPS, Viacom, Visa and More

U.S. Steel: A Buy After Q1 Earnings?

US Steel X logoUnited States Steel Corp. (X), whose colleagues include AK Steel (AKS) and Nucor Corp. (NUE), was sold off by investors on Tuesday after the company released its first-quarter results. The stock dropped $3.44, or 5.7%, to $56.63. Volume was strong.

The company is definitely far away from the 52-week low, but it unfortunately is also significantly under the 52-week high of $70.95. The one-year chart shows an up-and-down pattern that isn't necessarily for every investor. Indeed, the most recent price action has been decidedly in the downward direction. Of course, that might mean the business is worth a look, especially when you take into account the ultimate bias towards an upward trend. Let's check out the Q1 numbers.

Continue reading U.S. Steel: A Buy After Q1 Earnings?

U.S. Steel Dives on Q4 Loss, Q1 Outlook

U.S. Steel (X - option chain) stock is trading lower today after the company reported a fourth-quarter loss of $267 million, or $1.86 per share, on revenue of $3.35 billion. Analysts were expecting a loss of $1.44 per share on revenue of $3.09 billion. The company also forecast a first-quarter loss in line with fourth quarter results, whereas analysts are forecasting a loss of 44 cents per share. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on GE.

This morning, X opened at $52.66. So far today the stock has hit a high of $53.40 and a low of $50.37. As of 12:00, X is trading at $51.11, down $5.12 (-9.1%). The chart for X looks bearish and S&P gives X a negative 2 STARS (out of 5) sell ranking.

Continue reading U.S. Steel Dives on Q4 Loss, Q1 Outlook

U.S. Steel Rockets Higher

As expected, U.S. Steel (X) has surged with news of the global economic recovery, and I'm obviously reiterating my buy rating for the company's shares, first recommended on April 15, 2009, at a price of $27.61.

If you bought U.S. Steel in April 2009, you're up an eye-opening 125%. If you didn't catch the April 2009 entry point, don't fret: there's more upside ahead with X.

Continue reading U.S. Steel Rockets Higher

Analyst Upgrades, Downgrades and Initiations: AKS, EVVV, PEB, PM, PWR, S, X ...

Analyst Upgrades

  • Deutsche Bank upgraded U.S. Steel (X) to buy from hold after raising its steel forecasts and upped its target price on shares to $77 from $44. Note, the firm also downgraded AK Steel.
  • Credit Suisse upgraded Philip Morris (PM) to outperform from neutral based on a better international outlook.
  • JPMorgan upgraded ev3 Inc. (EVVV) to overweight from neutral. The firm sees upside potential to ev3's consensus estimates for 2010 and raised its target price on shares to $19 from $15.
  • Vale (VALE) was upgraded to overweight from equal weight at Barclays.
  • Xilinx (XLNX) was raised to outperform from sector perform at RBC Capital.
  • Shuffle Master (SHFL) was upgraded at KeyBanc to buy from hold.

Continue reading Analyst Upgrades, Downgrades and Initiations: AKS, EVVV, PEB, PM, PWR, S, X ...

U.S. Steel: Poised to race ahead during the global economic expansion

Not-for-squeamish U.S. Steel (NYSE: X) is rising on schedule, despite a recent pull-back, which is why I'm reiterating my Buy rating for the company, first recommended on April 15, 2009, at a price of $27.61. If you bought X in April, you're up about 28%.

The rationale for owning X's shares remains the same. U.S. Steel will likely be a survivor in the consolidating global steel sector with sufficient scale to either produce raw materials and acquire raw material assets.

Continue reading U.S. Steel: Poised to race ahead during the global economic expansion

Analyst upgrades, downgrades and initiations: BP, DB, NUE, TLB, X, YHOO ...

Analyst upgrades:
  • Citigroup upgraded Emergency Medical Services (NYSE: EMS) to Hold from Sell as it believes earnings estimates and valuation multiples could expand should Congress extend insurance coverage to the currently uninsured. The firm raised its target on shares to $38 from $29.
  • JPMorgan upgraded Deutsche Bank (NYSE: DB) to Neutral from Underweight on expectations the company's fixed income business will drive earnings.
  • KeyBanc expects U.S. Steel (NYSE: X) to benefit from a global recovery in flat-rolled products and a potential stabilization in energy end markets. The firm upgraded shares to Buy from Hold.
  • Yahoo! (NASDAQ: YHOO) was upgraded to Buy from Hold at Soleil.
  • Pinnacle Financial (NASDAQ: PNFP) was upgraded to Equal Weight from Underweight at Stephens.
  • BP Plc (NYSE: BP) was raised to Buy from Hold at ING Group.

Continue reading Analyst upgrades, downgrades and initiations: BP, DB, NUE, TLB, X, YHOO ...

Steel: Six stocks with strong turnaround potential

"The steel stocks tend to go through boom and bust cycles depending on global economic activity; they have been pummeled over the last year, as the global economy slowed," notes turnaround expert George Putnam.

In his The Turnaround Letter, he explains, "But the news about steel is not all bad." Indeed, he believes some steel companies are poised for a turnaround. Here's his review of 6 leading steel production companies.

"Weakness in two big steel consuming industries, autos and construction, has been particularly troublesome for the steelmakers.

"However, there is evidence that steel inventories are gradually being worked off to low levels. There are also signs that economic activity in China, which is a huge consumer of steel, will not fall off as far as some economists initially feared.

Continue reading Steel: Six stocks with strong turnaround potential

Analyst upgrades, downgrades and initiations: CSX, JBL, MRVL, NUE, STT, X ...

Analyst upgrades:
  • Keefe Bruyette upgraded American Capital (NASDAQ: AGNC) to Outperform from Market Perform on expectations the company's book value and earnings are trending higher. The firm raised its target price to $22.
  • Jefferies upgraded Spartan Stores (NASDAQ: SPTN) to Buy from Hold as it believes the company's EPS and sales momentum will return with the Michigan economy likely bottoming out. Despite upgrading, the firm lowered its target price to $18 from $24.
  • Morgan Stanley upgraded U.S. Steel (X) to Overweight from Equal Weight due to its favorable product mix and leverage to improving operating rates.
  • CSX Corp. (NYSE: CSX) was upgraded to Buy from Neutral at Goldman.
  • Mueller Water (NYSE: MWA) was raised to Perform from Underperform at Oppenheimer.
  • Marvell Technology (NASDAQ: MRVL) was upgraded to Outperform from Underperform at JMP Securities.

Continue reading Analyst upgrades, downgrades and initiations: CSX, JBL, MRVL, NUE, STT, X ...

Industrial metals: Strong plays on Obama's rebuilding plans

"President Obama's proposed rebuilding plans are great news for steel and other industrial metals makers," says resource sector specialist Larry Edelson, who recommends a pair of beneficiaries: U.S. Steel Corp. (NYSE: X) and Alcoa (NYSE: AA).

The editor of Real Wealth newsletter explains, "Obama has pledged to give the U.S. economy a massive shot in the arm with the biggest public works spending package this nation has seen in more than 50 years.

"Besides spending on road, bridge, school improvements and construction, the plan is likely to include upgrading our deteriorating electrical grid and greater investments in public transportation, among other infrastructure projects. The plan is also expected to create about 2.5 million jobs.

"While steel and other base metal prices have tanked sharply this year on slumping global demand, companies that produce the metals have staged some massive cutbacks in production and many have shuttered large chunks of their operations.

Continue reading Industrial metals: Strong plays on Obama's rebuilding plans

Options Update: Steel producers volatility elevated on decreasing revenue; MT, MTL, X

Arcelor Mittal (NYSE: MT), a global steel producer, is recently trading at $26.90 in pre-open trading, below its close of $31.70. MT reported Q3 EPS of $2.79 verses consensus of $4.01. MT December option implied volatility of 94 is above its 26-week average of 54 according to Track Data, suggesting larger price movement.

Mechel Steel (NYSE: MTL) closed at $9.01 Tuesday. MTL is a Russian mining, steel and power company. MTL December option implied volatility of 177 is above its 26-week average of 88 according to Track Data, suggesting larger price fluctuations.

US Steel (NYSE: X) is recently trading at $38.75 in pre-open trading, below its close of $41.17. X November option implied volatility of 97 is above its 26-week average of 71 according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

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Last updated: February 11, 2012: 10:12 AM

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