Some of Wednesday's midday movers:» Read More
Sept 17- Nucor Corp shares rose to a six-year high on Wednesday after the steelmaker said it would report higher-than-expected third-quarter earnings. Nucor said it expected to post a third-quarter profit of 70 cents to 75 cents per share.
trading higher on Wednesday as the best performing of the 10 major S&P sectors heading into the midpoint of the session, led by gains in DuPont and Nucor Corp..
Sept 17- Shares of United States Steel Corp rose as much 12 percent to a three-year high a day after the company said its loss-making Canadian arm would apply for relief from creditors and that it would drop plans to expand two of its U.S. facilities.
Nucor said on Monday it would buy Gallatin Steel, the U.S. joint venture between ArcelorMittal and Gerdau, for $770 million to expand into flat-rolled steel market in the growing pipe and tube business. In the current quarter ending Sept. 30, Nucor also expects to gain from write down of assets and high levels of imports due to downward pressure on pricing.
Market leaders Nucor Corp, Commercial Metals Co and Gerdau Long Steel North America sold rebar cheaply to their in-house operations marketing to contractors for big projects, they said. "Nucor and Gerdau are the price leaders and undersold other U.S. producers and each other," said Jay Campbell, of White& Case, a representative for the Mexican producers.
CHARLOTTE, N.C.— Steel company Nucor is buying Gallatin Steel Co. for about $770 million, which will expand Nucor's footprint in the Midwest. Nucor is purchasing ArcelorMittal and Gerdau's respective 50 percent stakes in Gallatin Steel.
WASHINGTON, July 10- U.S. steel producers on Thursday accused Russia of flooding the market with cheap flat-rolled steel, challenging a 15- year trade deal and potentially reigniting a decades-old dispute over imports amid heightened tensions between Washington and Moscow.
WASHINGTON, July 10- U.S. steel producers on Thursday called for the Department of Commerce to scrap a trade deal with Russia that excuses hot-rolled steel shipments from import duties.
WASHINGTON, July 10- U.S. steel producers on Thursday called for the Department of Commerce to scrap a trade deal with Russia which excuses hot-rolled steel shipments from import duties. In a submission to the department, Nucor, U.S.
Some of Friday's midday movers:
Nucor forecast earnings between 35 cents and 40 cents a share, up from 27 cents a share a year earlier. The plant started production in December, and volume has been better than expected but yield needs work, Nucor said. Made from iron ore, direct reduced iron is a raw material used to make steel, and a substitute for scrap, Nucor's traditional feedstock.
NEW YORK, May 3- When American investor Warren Buffett addresses Berkshire Hathaway's shareholders at the conglomerate's annual meeting on Saturday, he is sure to laud the impressive growth of BNSF Railroad, his company's largest-ever acquisition.
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Some of Wednesday's midday movers:
Some of the names on the move ahead of the open.
Check out which companies are making headlines after the bell Tuesday: