Hi guys !
AKS looks may already reached its bottom. The volume is increasing in the last 3 sessions, and today it breached several reference lines.
The minimum target for this rebound is $9.00 for very short term, but it could turn to be a stronger move.
This one must be on the watch list ;)
aks is consolidating with good volume last week. Would it be a good buy next few weeks?
I was also looking at this stock. I would like to see how it does in Monday's trading before I take a position.
The chart looks attractive but I would like to see the stock close above $7.02 before taking a position. It seems it is still too early with only a small white candle that closed away from the high of the day.
David,
remember I post aks last Sunday? You said that you would wait until it hit above 7 at close. Today it hit with more than average heavy volume. Check chart at yahoo link below
http://finance.yahoo.com/q/ta?s=AKS&t=6m&l=on&z=m&q=c&p=v&a=&c=
Is it time to consider it now?
MY filter today got me just 1% of the 11000 stocks on my stock charts database and many stocks were steel related stocks. I see the sector is in play so there's a macro story behind this move. I don't know which stock will appreciate the most but I choose AKS because this is not the first time her chart comes to my attention:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=990;image)
We've had a steep decline that is now over, at least for the short term. This stock has everything in place to rebound from this base ... if it doesn't something's wrong with the stock, because the sector is strong at this moment (I don't believe AKS has any stock specific problem because all the sector was down in the last 3 months - down a lot). It is time to rebound, so I'm buying AKS at the open.
Everyday I will analyze AKS after the market close until I sell the stock. I always tell I'm going to sell before I actually take action. You just have to follow the answers to this post.
Everyday our team scans and filters 11000 stocks to come up with the 3 best stocks to buy on a short term basis. We run a diversified public portfolio which is up 117% since May 2005 (http://www.3stocksonfire.org/closed_trades.php). We have great traders in our community which take advantage of short term opportunities in stocks.
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If You take a look at the whole sector You can see the same pattern everywhere. I´m long in GNA and all the same - great fundamentals (low P/E, cash dividends, growth etc.) but weak performance. IMHO it´s not about the stock, its all about the steel price. But yes, something is cooking and it will explode soon. Even I´m not taking position in AKS (for now!), this is most certainly the best pick in this sector.
Keep up good work!
Hi Randolph!
Wellcome aboard!!
I bought yesterday @ 6.95.
Good luck for us. 8)
Market Pulse: AK Steel plans surcharges on 2 product lines
that is the news about AKS this morning. Is it a neg or Postive ?
Bought AKS @$7.22
Stock is happily moving north so that may say something about it.
Do you place stop loss order on this stock?
On all stocks, except BB and PK which I cant as a scottrade user. Mostly the stops are mental if I am watching the market. Real if I am away.
what would be the stop loss price for this one for you?
6.4. Just below the last support.
And this stop moves as the stock moves up.
How you do find the support point? :P
What is the target price on AKS ? :)
AKS @ $7.65 on the After Hours.
nice move ;)
stockconsultant.com 8)
I have to leave now. I've updated 13 of my 15 holdings and left CYAD.OB and AKS to update before the open.
Good afternoon in the US, good night in Europe and good to all of us spread around the world :D
Another news about aks on yahoo is out, the title is
[$$] AK Steel, Cleveland-Cliffs Rise on Small-Caps Tide
But it need Wall Street Journal registration to access.. who get the access? I like to know the main idea/ important points.
AK Steel, Cleveland-Cliffs
Rise on Small-Caps Tide
By MOHAMMED HADI
DOW JONES NEWSWIRES
June 17, 2005
Outperforming large-cap shares again, small stocks closed at their highest level in about three months and zeroed in on their 2005 highs.
Metals and mining stocks extended recent gains and were among the best-performing industry groups. Among small steelmakers, AK Steel Holding rose 29 cents, or 4%, to $7.52, and Cleveland-Cliffs rose 3.92, or 6.6%, to 63.22. Silver and gold miner Coeur d'Alene Mines rose 16 cents, or 4.5%, to 3.73, and platinum miner Stillwater Mining rose 24 cents, or 3%, to 8.14. (All trade on the New York Stock Exchange.)
Small software companies were among the worst performers. Agile Software fell 25 cents, or 3.8%, to 6.33 after Pacific Crest cut its rating to "sector perform" from "outperform." Websense fell 2.28, or 4%, to 52.83, and WatchGuard Technologies fell six cents, or 1.5%, to 3.90.
Barry James, portfolio manager at James Investment Research, said the recent outperformance of small caps is "absolutely normal" given their underperformance earlier in the year.
The Russell 2000 Index rose 6.84, or 1.1%, to 644.03. The index's high this year is 644.95. The S&P SmallCap 600 Index rose 2.97, or 0.9%, to 336.31, just short of the all-time high of 336.51 reached earlier this year.
Some drug makers were active. Biotech company Vicuron Pharmaceuticals, of King of Prussia, Pa., surged 12.41, or 79%, to 28.21 after pharmaceutical titan Pfizer said it will buy the company for $29.10 a share, or about $1.9 billion.
Another sharp gainer was biotechnology company Momenta Pharmaceuticals, of Cambridge, Mass. The stock leaped 6.36, or 63%, to 16.50 after a court Wednesday ruled in favor of two generic drug makers that seek to market a generic version of Sanofi-Aventis's deep-vein thrombosis drug Lovenox. Though Momenta isn't among companies being sued by Sanofi-Aventis, it, too, is seeking regulatory approval of the generic drug. NPS Pharmaceuticals added 85 cents, or 8.1%, to 11.30, and Enzon Pharmaceuticals gained 71 cents, or 12%, to 6.78. But Advancis Pharmaceutical plunged 2.96, or 59%, to 2.03 after the Germantown, Md., company said a potential application for its Amoxicillin Pulsys products could be delayed for a year because the antibiotic failed to meet its primary endpoint in a Phase III trial.
Merrill has a price target of $20 for smaller steel producer AK Steel
http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh94974_2005-05-27_14-22-10_n27534641_newsml
Looks like a double bottom formed it has moved outside
of it's down channel.Oversold good entry point.
Turning up,very safe investment mid-long term.
I am looking to get in tomorrow,I am going to set myself a short term target of
$12 to $14
http://stockcharts.com/def/servlet/SC.web?c=aks
Outperforming large-cap shares again, small stocks closed at their highest level in about three months and zeroed in on their 2005 highs.
Metals and mining stocks extended recent gains and were among the best-performing industry groups. Among small steelmakers, AK Steel Holding rose 29 cents, or 4%, to $7.52, and Cleveland-Cliffs rose 3.92, or 6.6%, to 63.22. Silver and gold miner Coeur d'Alene Mines rose 16 cents, or 4.5%, to 3.73, and platinum miner Stillwater Mining rose 24 cents, or 3%, to 8.14. (All trade on the New York Stock Exchange.)
Small software companies were among the worst performers. Agile Software fell 25 cents, or 3.8%, to 6.33 after Pacific Crest cut its rating to "sector perform" from "outperform." Websense fell 2.28, or 4%, to 52.83, and WatchGuard Technologies fell six cents, or 1.5%, to 3.90.
Barry James, portfolio manager at James Investment Research, said the recent outperformance of small caps is "absolutely normal" given their underperformance earlier in the year.
The Russell 2000 Index rose 6.84, or 1.1%, to 644.03. The index's high this year is 644.95. The S&P SmallCap 600 Index rose 2.97, or 0.9%, to 336.31, just short of the all-time high of 336.51 reached earlier this year.
Some drug makers were active. Biotech company Vicuron Pharmaceuticals, of King of Prussia, Pa., surged 12.41, or 79%, to 28.21 after pharmaceutical titan Pfizer said it will buy the company for $29.10 a share, or about $1.9 billion.
Another sharp gainer was biotechnology company Momenta Pharmaceuticals, of Cambridge, Mass. The stock leaped 6.36, or 63%, to 16.50 after a court Wednesday ruled in favor of two generic drug makers that seek to market a generic version of Sanofi-Aventis's deep-vein thrombosis drug Lovenox. Though Momenta isn't among companies being sued by Sanofi-Aventis, it, too, is seeking regulatory approval of the generic drug. NPS Pharmaceuticals added 85 cents, or 8.1%, to 11.30, and Enzon Pharmaceuticals gained 71 cents, or 12%, to 6.78. But Advancis Pharmaceutical plunged 2.96, or 59%, to 2.03 after the Germantown, Md., company said a potential application for its Amoxicillin Pulsys products could be delayed for a year because the antibiotic failed to meet its primary endpoint in a Phase III trial.
MIDDLETOWN, Ohio, June 16, 2005 /PRNewswire-FirstCall via COMTEX/ -- AK Steel (AKS, Trade) has advised its flat-rolled carbon steel customers that a $208 per ton surcharge will be added to invoices for products shipped in July 2005. AK Steel has also advised its electrical steel customers that a $200 per ton surcharge will be added to invoices for electrical steel products shipped in July 2005. July surcharges for the broad range of stainless steel products that AK Steel produces can be found on the company's web site at www.aksteel.com.
AK Steel's surcharges are based on reported prices for raw materials and energy used to manufacture the products, with the May 2005 purchase cost used to determine the July 2005 surcharges.
Headquartered in Middletown, AK Steel produces flat-rolled carbon, stainless and electrical steel products, as well as carbon and stainless tubular steel products, for automotive, appliance, construction and manufacturing markets.
SOURCE AK Steel
Media, Alan H. McCoy, Vice President, Government and Public Relations,
+1-513-425-2826, or Investors, Albert E. Ferrara, Jr., Vice President, Finance &
CFO, +1-513-425-2888, both of AK Steel
http://www.prnewswire.com
Copyright (C) 2005 PR Newswire. All rights reserved.
Double bottom confirmed? It leads me to a question: how much we can trust technical analysis..
Do you make trading decision mainly relying on TA? How many percentage you succeed and
how many percentage you fail on TA? i.e. how reliable is TA ?
AKS has major resistance in the 7.67 area.. I have bought this thing 3 times in the last 2 months at 7 and ridden it to the 7.60's.. If it can break through that and then 8 will signal a huge buy and the SHORT SQUEEE should really take it off to $10 fairly quickly and easy..
Almost 20% of the float was short as of last report and thats 4+ days to cover
Will be very interesting to see if it can break that resistance.. Hope so!
Nice info from Tirebldr and TRUNK, thanks !
The chart on AKS is beautiful ... I see that LSE (London Stock Exchange) is leading the NYSE, I don't know why, but it is (maybe because the British companies are perhaps even more multinational and present in Asia than US companies - India is a former UK colony and China has close ties with the UK from Hong Kong), and the Steel sector was the one rising the most on the LSE on the last 5 days.
Momentum is behind steel, hold on to it !
Can someone tell me -- How does one tell what the pre-market price is? TIA
AKS suddenly dropped about 20cents.. what is going on?
any idea about its sudden drop at this moment? Steel industry is turning back down now?
Quote from: cmshop on June 17, 2005, 10:21:05 AM
AKS suddenly dropped about 20cents.. what is going on?
Its called profit taking.. the thing ran up $1 in 4 days
and when it failed to get through resistance again in the 7.60's this morning people sold-
I'm still holding mine which I bought at 6.74 last week.. I think it has a good chance of breaking that resistance and if it does its off to the races and well worth the risk
Could someone please tell me: How is all this news (incl. what I posted earlier) gona affect China and their building program? Trying hard to learn ;)
More on AKS:
NEW YORK, June 16 (Reuters) - Steelmaker AK Steel (AKS,Trade) on Thursday said it will drop its raw material surcharge for flat-rolled carbon steel shipped in July to $208 a ton, down from the June surcharge of $213 a ton.
The company raised its July surcharge on electrical steel to $200 a ton, from $170 a ton in June.
The surcharges are based on reported prices for raw materials and energy used to manufacture the products, with the May purchase cost used to determine the July surcharges.
Profit taking.
After all its steel, bit heavier :)
nice entry point.
nice financials.
CLF up today.
AKS tested and bounced on $7.30 three times today. fell from $7.52 on Thursday.
bounce....bounce....bounce....
volume slowed a bit today after testing $7.65.
Merrill has a $20 price on AKS.
meanwhile CLF (another steel stock) added $0.75.
AKS tested and bounced on $7.30 three times today. fell from $7.52 on Thursday.
bounce....bounce....bounce....
volume slowed a bit today after testing $7.65.
Merrill has a $20 price on AKS.
meanwhile CLF (another steel stock) added $0.75.
i stated CLF was a metal stock. it is actually a mining stock.
just correcting myself.
Atleast for short term both metal and mining sector are bullish.
How can you be sure about that - steel and mining stocks are bullish at least in short term?
This stock seems to be affected by news out of China.
NEW YORK, May 27 (Reuters) - Merrill Lynch said on Friday the recent pullback in steel shares has made the companies a "good value" for investors, singling out United States Steel (X,Trade) and Nucor (NUE,Trade).
"Industry consolidation has led to fewer and financially stronger steel companies," wrote analyst Daniel Roling in a research note. "We believe most of the steel equities that we follow remain very attractive on this pullback and offer good value."
The price of the benchmark hot-rolled steel has recently fallen to $540 per ton from $580 per ton because of excess inventory. But steelmakers have taken steps to cut production to better reflect demand, Merrill said, and it predicted that steel prices would stabilize around current levels.
The S&P Steel Index ((.GSPSTEEL)) has fallen to about 100 from a high of 132 in February, partly on concerns that China is stepping up exports, potentially driving down prices. "Yes, they are exporting more steel, but they still import more finished steel than they export," Roling said in the note.
Nucor shares opened up more than 2 percent, to $54.06 on Friday while U.S. Steel traded up nearly more than 3 percent, to $40.80 Friday on the New York Stock Exchange.
AK Steel (AKS,Trade) shares rose more than 5 percent to $7.86, making it one of the largest percentage gainers on the NYSE in early trade.
Merrill has a price target of $65 per share for Nucor, $60 per share for U.S. Steel, and $20 for smaller steel producer AK Steel (AKS,Trade).
Quote from: cmshop on June 18, 2005, 08:43:44 PM
How can you be sure about that - steel and mining stocks are bullish at least in short term?
That was opinion of one of the columnist at Realmoney. I dont have their subscription and came to know through a friend. Sorry can't post the article. However, one Realmoney columnist did said that Gold has run too far and may pull back.
The biggest reason to be bullish on steel are:
1. Their pull back from year highs [AKS was in double digits recently]
2. Consolidation [read buyout] in Steel industry is far from over. Indian powerhouse Mittal Steel may be on the hunt for further buyouts.
However, the biggest problem that I see with steel is its 'cyclical' nature. Other then that I think the volume is flowing to this group and you know 'volume' means what :)
A small player like AKS with PEG ratio 0.26 could be a better acquistion target, though I am just expressing my own opinion. Anyway, as long as charts are ok, I am staying with AKS, bought it for trading not investing.
Quote from: cmshop on June 18, 2005, 08:43:44 PM
How can you be sure about that - steel and mining stocks are bullish at least in short term?
Also quotting:
"Al Goldman, A.G. Edwards chief equity strategist, also expects the bull run to carry over into next week and credits the rally to rising investor confidence in the economy
"There has been a renewed interest in heavy cyclical stocks such as steels, chemicals and paper stocks," he said
Hi Stocky,
You quoted AKS low PEG value but did you notice AKS PE is over its competitors? This worried me a bit. I did buy AKS and am hoping we breakthru the $7.60 mark. David commented on many stocks this weekend but not AKS. I guess his current opinion stands.
Thanks,
Rocket8
Aks has industry avg PE
http://finance.yahoo.com/q/co?s=AKS
so dont worry. In most cases its forward PE or PEG more important then PE [usually trailing PE is mentioned].
The reason to buy AKS here is technical, though better fundamentals does not hurt either :)
Infact AKS has best forward PE [5.83] among its competitors - X[6.64] and NUE [9.5].
Just making a point. Though the group as a whole is economically sensetive. Meaning will be depressed if the economy is weak.
Steel prices expected to rise during second half: CSC Chairman Lin :)
2005/6/16
The China Post staff
Prices of steel will rise during the third and fourth quarters, China Steel Corp. (CSC) Chairman Lin Wen-yuan said yesterday. The statement caused a rally in steel shares.
Smaller shares, including Yieh Hsing Enterprise Co., Chun Yu Works and Co. and Kao Hsing Chang Iron and Steel Corp., surged to their daily limits during trading and caused a rally in larger shares, including CSC and First Copper Technology, as well.
CSC closed at NT$31.55, up 1.77 percent from the previous trading day.
Transactions in steel shares accounted for nearly six percent of overall trade volume, a percentage point not seen for quite some time as the industry had been going through a downturn.
Prices of rebar and construction-use steel had been falling, mainly due to the so-called macro-adjustment policy carried out by mainland China since last year. Feng Hsin Iron and Steel Co., one of the biggest rebar manufacturers in Taiwan, had even postponed price-quoting for this week till after a meeting with wholesalers and distributors, a move that showed a general concern for the industry in the short term.
Meanwhile, inventories are still at a high, with analysts saying June orders would be especially disastrous for mid-stream manufacturers.
Lin, however, gave a positive assessment of the industry yesterday, saying there was still strong demand for high-end steel products and it would be unlikely that CSC would continue to lower international sales prices in Q3.
Lin further cited World Steel Dynamics statistics as suggesting prices would grow internationally in the fourth quarter by as much as 60 percent.
"We're quite optimistic about Q4," he said.
China Steel Corp. has long positioned itself as a producer of high-end steel, a strategy that has helped the company to stay profitable over the years.
The company's stellar performance last year has enabled the firm to distribute cash dividends of NT$3.9 per share, resulting in a yield rate that was among the highest for publicly traded companies.
Meanwhile, Chung Hung Steel, a subsidiary of CSC, echoed Lin's remarks, saying the company holds an optimistic attitude for the fourth quarter.
"Our optimism is based on the fact that since Q2, factories and plants across the world have been running at lowered capacity," the company said. "Steel prices would fall to a bottom by July at the latest, and a rebound in prices would be expected in Q4."
AKS had a perfectly normal pullback after a gap up. This is no momentum stock, it will probably rise slowly. I'm keeping the stock.
all the steel companies are down a lot today thus far
9:50am
Major steel companies all way down today
Quote from: Rocket8 on June 20, 2005, 09:50:16 AM
all the steel companies are down a lot today thus far
9:50am
AKS had an upside trendline breakout last Thursday, but we closed back below it on Friday, suggesting a false breakout. With the stock currently $7.00 Bid...$7.01 ASK, it's looking like it wants the fill the $6.85 - $6.88 gap from June 15, which might be a nice buy. Stop: A close below the current symmetrical triangle low of $6.42.
The symmetrical triangle data points:
The highs of May 18 and June 17 (connect them)
The lows of May 16 and June 9 (connect them)
If we breakout above the pattern (above the June 17 high of 7.70), add $1.76 to the breakout to determine the upside target.
AKS is ugly today. Will it fall to $6.50?
It broke thru the floor.
So do we think that now is possibly a great time to buy back in? Or because of China will AKS drop even further? (best guess) ???
My 2 cents - be careful. Nucor (NUE) just cut quarterly EPS, stock down 2.6% in after hours.
MarketWatch
Market Pulse: CORRECT: Nucor cuts quarterly EPS view on weak demand
Monday June 20, 6:08 pm ET
By Carolyn Pritchard
SAN FRANCISCO (MarketWatch) -- Nucor Inc. after Monday's closing bell cut its second-quarter per-share forecast to near the lower end of the $1.95 to $2.15 outlook the company issued in April, citing weakened demand, primarily for sheet steel, and significant decreases in scrap prices. It also attributed the lowered view to the accounting for inventory acquired during the purchase of the assets of Marion Steel Co. (Corrects the updated forecast.)
These steel stocks seem to run in tandem.
Quote from: 3puttssuck on June 20, 2005, 07:08:51 PM
My 2 cents - be careful. Nucor (NUE) just cut quarterly EPS, stock down 2.6% in after hours.
These steel stocks seem to run in tandem.
Oregon Steel (OS) lowered Q2 guidance by about ten cents last Thursday morning. It gapped down at the open from $18.05 to $17.40, then turned around and broke out to the upside out of an Ascending Triangle. Go figure, huh?! ;)
Unfortunately, OS put in a doji star candlestick on Friday, then yesterday, it fell back well below the
Ascending Triangle upside breakout level on what sure looks like a 3-day Bearish Evening Star pattern :(
Even with the steel companies lowering guidance, their P/E ratios for next year are only about 5 or 6, so they look great, fundamentally. But, I don't like these false upside breakouts, so I agree with you that caution is warranted here. At some point, I think the steels are going to have a very nice rally, but they might need to build a better base here for an upside breakout.
I'm not an Elliott Wave theorist, but I'm thinking that maybe the huge drop that the steel stocks had into their May, 2005 lows was a Wave 3 (the biggest part of the move) down, and that these triangles that have formed over the past six weeks are a Wave 4 corrective rally of the larger down trend. If so, we have a Wave 5 down coming to complete the bear trend off the early 2005 highs. That's conjecture on my part, but it makes sense that stocks like AKS would return to the level at which they went on a parabolic rally in 2004.
In AKS, I had a buy order in yesterday at $6.87, figuring we'd fill the $6.85-$6.88 gap from June 15, then bounce higher. That didn't occur, so I'm going to leave it alone. AKS closed well below Thursday's trendline breakout, so it was a false breakout, and we're in No Man's Land here. With the risk of a Wave 5 down, the better play probably is to wait for a symmetrical triangle breakout above $7.70, if we get it, or wait for a better base to form.
Melf Elf is absolutely correct in his analysis of AKS, I thank him. There was a false breakout, I see a profit turn into a loss and a man has to take action when something like this happens, and that is:
Fear a small loss will turn into a larger loss and sell for a small, protecting capital for the next speculative venture.
Dont Care about the drop -$ 8 next week
by: mrkt_edge_god
Long-Term Sentiment: Strong Buy 06/21/05 08:22 am
Msg: 63823 of 63830
Steel stocks are all trading above DMA 50 right
now except AKS and SCHN, well see a low @$6.50
and then it will go up to $8,9,10,17 again and 20 in six months.
Easy, just follow the trend.
And the trend is UP.
From Yahoo msg bd
http://search.messages.yahoo.com/search/messages?tag_M=aks&fname_M=txt_comment
CNBC just mentioned AKS as one of the five stocks that had big increases in short interest in June. Possible fuel for a nice rally at some point, eh? Especially on a symmetrical triangle breakout above 7.70. AKS bounced off the bottom of that triangle yesterday, BTW, and formed a bullish-looking doji star hammer.
The other four stocks mentioned with large increases in short interest in June: Abercrombie & Fitch (ANF), Southwest Airlines (LUV), Toll Brothers (TOL) and Target (TGT). Since those all are NYSE stocks, it probably doesn't include NASDAQ traded stocks.
Quote from: Tirebldr on June 21, 2005, 10:16:13 AM
Dont Care about the drop -$ 8 next week
by: mrkt_edge_god
Long-Term Sentiment: Strong Buy 06/21/05 08:22 am
Msg: 63823 of 63830
Steel stocks are all trading above DMA 50 right
now except AKS and SCHN, well see a low @$6.50
and then it will go up to $8,9,10,17 again and 20 in six months.
Easy, just follow the trend.
And the trend is UP.
From Yahoo msg bd
http://search.messages.yahoo.com/search/messages?tag_M=aks&fname_M=txt_comment
Thanks for those encouraging words of market analysis. I was starting to loose hope for a bit. This is what I like about 3SF. Solid analysis help is good for us novice's ;)
AKS up on hi vol today
AKS when over $8 even after a merill downgrade, I am staying put, anybody think i should sell? thanks.
nice short squeeze there..
Falling Wedge.Stock soars. May be back in play,breakout to the upside.
News Link 2 Articles today:
http://finance.yahoo.com/q/h?s=AKS
Rebound
Quietly doing it's thing.
Looks to be consolidating after last run.
I would expect a new uptrend soon.IMHO
AK Steel Enters Ferrous Scrap Purchase Agreement With... by PR Newswire Aug 2 2005 5:11PM
Steel shares rise after Morgan Stanley upgrade by Reuters Aug 2 2005 11:47AM
NEW YORK, Aug 2 (Reuters) - Shares of steel companies climbed on Tuesday after Morgan Stanley raised its outlook for the sector, saying it believes that steel market fundamentals recently hit bottom and metal prices are primed for a rise.
The Wall Street firm upgraded its steel industry view to "in-line" from "cautious."
"Due to industry discipline, we believe excess steel inventory has been worked off (and) production is likely to rise in the mid-to-late fourth quarter," Morgan Stanley analyst Wayne Atwell said in a research note.
Atwell said steel prices seemed already to have hit a low and were likely to climb again in the fourth quarter.
He raised price targets on shares of major steel makers to reflect an estimated drop in spot steel margins by an average of only $30 a ton next year, versus the previous estimate of $50 a ton. The change also reflects flat contract pricing, instead of a previous forecast of an 8 percent decline.
On the New York Stock Exchange shortly after midday, Nucor Corp. (NUE,Trade) advanced $2.67, or 4.8 percent, to $58.34; US Steel Corp (X,Trade) rose $1.62, or 3.79 percent, to $44.35; and AK Steel (AKS,Trade) gained 43 cents, or 4.68 percent, to $9.62.
Steel Dynamics Inc. (STLD,Trade) rose $1.68, or 5.25 percent, to $33.71 on Nasdaq.
The S&P Steel Index ((.GSPSTEEL)) climbed 4.22 percent.
MIDDLETOWN, Ohio, Aug 02, 2005 /PRNewswire-FirstCall via COMTEX/ -- AK Steel (AKS, Trade) said today it has entered into an agency agreement with Tube City, LLC for the purchase of ferrous scrap for all of AK Steel's steelmaking facilities. As part of the agreement, Tube City will be responsible for negotiating the majority of carbon scrap and pig iron purchases for AK Steel plants in Ashland, Kentucky; Butler, Pennsylvania; and Mansfield and Middletown, Ohio. Additionally, Tube City will be responsible for scheduling, logistics and quality assurance related to ferrous scrap for the AK Steel plants.
"This agreement with Tube City continues AK Steel's efforts to develop long-term agreements with suppliers of key raw materials," said James L. Wainscott, president and CEO of AK Steel. "We look forward to working with Tube City as a strategic partner to help us improve costs, quality and reliability as related to our scrap requirements."
Tube City is a long-time supplier of scrap and related services to AK Steel. In November 2004, AK Steel presented one of its first annual Supplier of the Year awards to Tube City for outstanding service, value and strategic support of AK Steel's business plan.
Headquartered in Glassport, Pennsylvania, Tube City, LLC, a subsidiary of Tube City IMS Corporation, is a leading provider of outsource purchasing, scrap management, including scrap optimization, and slag processing and material recovery services to integrated steel mills, mini-mills and foundries. Tube City IMS has operations at 64 mill site facilities throughout the U.S., Canada and Europe.
Headquartered in Middletown, Ohio, AK Steel produces flat-rolled carbon, stainless and electrical steel products, as well as carbon and stainless tubular steel products, for automotive, appliance, construction and manufacturing markets.
SOURCE AK Steel
Media, Alan H. McCoy, Vice President, Government and Public Relations,
+1-513-425-2826; or Investors, Albert E. Ferrara, Jr., Vice President, Finance &
CFO, +1-513-425-2888, both of AK Steel
http://www.prnewswire.com
Copyright (C) 2005 PR Newswire. All rights reserved. ********************************************************************** As of Friday, 07-29-2005 23:59, the latest Comtex SmarTrend(SM) Alert, an automated pattern recognition system, indicated an UPTREND on 07-13-2005 for AKS @ $8.01. (C) 2005 Comtex News Network, Inc. All rights reserved.
This is the stock that let me discover 3StocksonFire so its good to see it finally climbed through that resistance in the $7.60's and is doing really well now..
I owe sort of an allegiance to the Stock for bringing me here.. someone had posted a link on Yahoo message boards with David's recommendation while I was holding AKS and thats all she wrote
Double Bottom (reversal) in the making.
Support @ $7.77...7.28...7.00
Resistance @ $8.65...8.85...9.23
Technicals
Most Actives
Percentage Gainer
MACD is Bullish
Last Price Quote is:
9.13%above 13-day EMA
9.38%above 50-day EMA
RS Rating: 76
Fundamentals
Key Data:
Market Cap (M): $867.48
P/E Ratio: 8.10
PEG Ratio: 0.62
Next Earnings: 01/24/2006
Last Analyst Rating: Hold
Double Bottom (Reversal)
The double bottom is a major reversal pattern that forms after an extended downtrend. As its name implies, the pattern is made up of two consecutive troughs that are roughly equal, with a moderate peak in between.
Although there can be variations, the classic double bottom usually marks an intermediate or long-term change in trend. Many potential double bottoms can form along the way down, but until key resistance is broken, a reversal cannot be confirmed.
It is important to remember that the double bottom is an intermediate to long-term reversal pattern that will not form in a few days. Even though formation in a few weeks is possible, it is preferable to have at least 4 weeks between lows. Bottoms usually take longer than tops to form and patience can often be a virtue. Give the pattern time to develop and look for the proper clues. The advance off of the first trough should be 10-20%. The second trough should form a low within 3% of the previous low and volume on the ensuing advance should increase. Volume indicators such as Chaikin Money Flow, OBV and Accumulation/Distribution can be used to look for signs of buying pressure. Just as with the double top, it is paramount to wait for the resistance breakout. The formation is not complete until the previous reaction high is taken out.
UPDATE 1-U.S. Steel stock surges on J.P.Morgan note
J.P. Morgan put the steelmaker's stock on its focus list, saying it was undervalued.
Support @ $8.65...8.40...8.15
Resistance @ $8.85...9.23...9.70
Volume: 3,218,200
Avg Volume (3m): 2,791,230
Technicals
MACD is Bullish
Stochastic is Bullish
Last Price Quote is:
8.42%above 13-day EMA
13.03%above 50-day EMA
RS Rating: 78
Fundamentals
Key Data:
Market Cap (M): $955.32
P/E Ratio: 8.10
PEG Ratio: 0.685
Next Earnings: 01/24/2006
Last Analyst Rating: Hold
News Headlines Link: http://finance.yahoo.com/q/h?s=AKS
AKS has two bullish upside targets IN PLAY.
Target #1; 9.22 is IN PLAY from the Ascending Triangle breakout on November 23.
AKS rallied only to 9.00, then sold off back into the pattern on December 19 and 20.. The target goes ON HOLD when that occurs until the stock gets back above the breakout. AKS is back above the 7.75 breakout, so the 9.22 target is back IN PLAY.
Target #2: 8.52-8.55 is IN PLAY from the "mini" Ascending Triangle (horizontal blue line) breakout yesterday, January 3, above 8.04-8.05. This pattern is a "fractal" (repeating pattern) of the original Ascending Triangle breakout.
Comments:
1. At the November 24 upside Breakaway Gap, the 50/200DMAs (dotted green line ... dotted red line) were inverted. The stock was "ahead of itself," trying to rally to the 9.22 target with those MAs badly positioned. Often, rallies like that will fall short of the target, as this one did. The MAs still are inverted, but they now aren't as far apart.
2. We never like to see stocks come back below a pattern breakout, but if there is a good reason to do it, and if the stock regains the breakout, it at least is understandable why the stock is doing that:
a. At the December low, AKS came back below the breakout, but it held at its 50DMA, then it regained the breakout.
b. On December 30, AKS dipped below the breakout, but it tagged the uptrend line almost exactly, validating it as support with the "third hit," then it regained the breakout and closed near the high of the day.
3. Yesterday was another Ascending Triangle breakout, after a validation of the uptrend line off the Ocober low. I like that. The up trendline comes in today, January 4, at 7.742.
Bought AKS at 8.05, the top of yesterday's Ascending Triangle breakout.
Stop is the validated rising up trendline off the October low, currently at 7.742 and rising 0.0248 per day. Risk: a loss of about 4%.
Hourly chart of yesterday's Ascending Triangle breakout at 8.04-8.05.
This is acting well, technically. Yesterday's low was 8.03, a penny below the Ascending Triangle breakout at 8.04-8.05, so we've got a successful re-test of the breakout.
A little sideways-to-down would be okay here, but I'd like to see yesterday's 8.03 low hold. My stop at the validated up trendline moves up today to 7.767.
Quote from: Melf Elf on January 04, 2006, 06:32:57 AM
AKS has two bullish upside targets IN PLAY.
Target #2: 8.52-8.55 is IN PLAY from the "mini" Ascending Triangle (horizontal blue line) breakout yesterday, January 3, above 8.04-8.05. This pattern is a "fractal" (repeating pattern) of the original Ascending Triangle breakout.
Target #2 just MADE.
Quote from: Melf Elf on January 04, 2006, 10:49:04 AM
Bought AKS at 8.05, the top of yesterday's Ascending Triangle breakout.
Sold at 8.53. Gain: 6%.
AKS pulled back on Friday after Target #2: 8.52-8.55 MADE. The print high was 8.58, on Friday.
I'd like to re-enter my long position in the 8.13-8.20 area, if I can get it. Target #1: 9.22 still is IN PLAY from the November 28 breakout. That's right near validated resistance (thick red line).
Quote from: Melf Elf on January 04, 2006, 06:32:57 AM
AKS has two bullish upside targets IN PLAY.
Target #1; 9.22 is IN PLAY from the Ascending Triangle breakout on November 23.
AKS on fire this morning. The
9.22 target MADE at 10:14AM.
AKS currently is BID 9.30...ASK 9.31, up 17%
AKS is #1 on the NYSE Percentage Gainers list today, up 28%. :o
A K STEEL HLDG CORP (NYSE:AKS) Delayed quote data
Pre-Market (RT-ECN): 11.20 0.84 (8.11%) ............. ;D
HEADLINES :
• Premarket Movers: Earnings and Mergers
Associated Press (Fri 9:28am)
• [$$] Dow Set to Make Another Run at 11,000
at RealMoney by TheStreet.com (Fri 7:44am)
• New Star Analyst Rankings for A K STEEL HLDG CORP
StarMine (Thu 10:21am)
• US CREDIT - AK Steel seen too tight without buyout
at Reuters (Wed, Jan 25)
• AK Steel increases stainless prices by around 3 pct
at Reuters (Wed, Jan 25)
• AK Steel Announces Price Increase for Stainless Steel Products
PR Newswire (Wed, Jan 25)
• AK Steel posts narrower loss, stock soars
Reuters (Tue, Jan 24)
• Steel Stocks Hot on Earnings Results
Associated Press (Tue, Jan 24)
• AK Steel Posts Narrower 4Q Loss
Associated Press (Tue, Jan 24)
• AK STEEL HOLDING CORP Files SEC form 8-K, Entry into Material Agreement
EDGAR Online (Tue, Jan 24)
News Link: http://finance.yahoo.com/q/h?s=AKS
Moving on !
+6.37%........Volume @ 1,666,700
Steel stocks are on fire now due to higher steel demand/prices (http://biz.yahoo.com/prnews/060125/clw095.html?.v=10) and record earnings (http://biz.yahoo.com/prnews/060127/clf010.html?.v=37). Many that have tanked to single digit lows such as AKS and WPSC are now making a remarkable recoveries. And those that have been fluctuating cyclically such as NUE are now making blue skies terrority and setting 52-week highs.
AKS, NUE, SIM, STLD, TONS, and WPSC are among some of the steel and iron stocks that should be strong buy. Compare the performances of top steel stocks here (http://biz.yahoo.com/ic/130.html).
Too bad I some of the action in steel stocks but I'm pretty sure the boat has not completely left and there is still plenty of upside potential!
My favorite picks I'm currently eyeing are: AKS, NUE (as always), and WPSC.
Check out my personal follow ups and commentary on my newly redesigned stock blog: DINVESTOR.COM (http://dinvestor.com).
I joined you on this steel train, [D]Investor. Also, I enjoy your website very much.
I bought WPSC and AKS.
The way I understand, WPSC is a turnaround candidate. It's fallen from a high of around 45 to a recent low in the 8-9 range. It built a base in that 8-9 range for about two months, and about a week ago it broke out on some of the biggest volume of the year. The chart looked primed for a turnaround, with MACD converging to 0 and the nice base built. It took out the 50 ma with ease on the first day of the breakout and it's currently trying to break the 200 ma. It pierced through it today, but closed below. I see resistence at 18 and 20 and support in the 12.5 area.
A Motley Fool columnist has been writing about WPSC, but he feels like he already missed the boat. I'm holding a slight loss after buying yesterday morning (need to work on selecting better entry points), but I think WPSC has plenty of room to run.
Looks like AKS is facing some resistance right here at 12, but it shouldn't be too hard to get through given the steel sector remains hot. The real battle was around 10.
Let's make some cash, D...
WPSC on fire! Currently up about a buck at 15.73. It has made similar runs each of the last 2 days, but failed to hold on...lets see if this time it can hold the gains.
200 ma at 15.14 might be causing some of the problems.
Nicely done AKS....
This one has done its job.
Technicals
Last Price Quote is:
7.55%above 13-day EMA
24.57%above 50-day EMA
RS Rating: 96
Fundamentals
Key Data:
Market Cap (M): $1,475.20
P/E Ratio: 8.10
PEG Ratio: 0.76
Next Earnings: 04/25/2006
Hi bjc,
My apologies that I did not see your post on 3SOF because I forgot to enable the "notify" option.
First, thank you for your kind comments!
And second, you're right, WPSC is a sweet turnaround candidate and it fine steel stock with lots of potential... Now it's much higher than $15.73... and I hope you're still holding on to it! ;)
And here's an update on WPSC referring to my attached chart annotation:
The short term, 2-month chart shows WPSC currently in the process of hammering out an ascending triangle pattern while it's under consolidation. The ascending triangle is represented by the resistance level at about $19 followed by higher lows in the prevailing uptrend. Other indicators for consolidation include a stagnant RSI, stagnant MACD, and low volume relative to the breakout spike 2 months ago. Not to mention that WPSC also has a Golden Cross pending (GREAT SIGN!!!)
The Bottom Line: WPSC's chart and indicators strongly suggest that it'll be ready to breakout once the ascending triangle consolidation period is complete and the Golden Cross occurs. I anticipate a rise in volume prior to the breakout followed by a period of positive RSI and MACD values.
To Buy or Not to Buy: The swing trader should buy whenever the price is close to the uptrend line to maximize returns. If you did not pick up WPSC at today's intraday low, the drop today is still a good chance to load up.
Let's make some cash? "Some?" Heh. Heh. For sure.
My [2] cents.
- D
Traders who like AKS or want to jump on the steel train should check out WPSC as well. Personally, I believe it's less volatile and has a greater potential for higher returns. Regardless, both are on fire nevertheless!
Check out my analysis on both AKS and WPSC here (http://dinvestor.com/2006/02/26/hot-steel-reversal-plays-aks-wpsc/) and here (http://dinvestor.com/2006/03/13/wpsc-ascending-triangle-pending/).
Cheers!
Volume: 5,781,600
Avg Vol (3m): 3,439,180
Technicals
Record Price High
Record Price Break Out
Percentage Gainer
Last Price Quote is:
8.30%above 13-day EMA
25.23%above 50-day EMA
RS Rating: 97
Fundamentals
Key Data:
Market Cap (M): $1,475.20
P/E Ratio: 8.10
PEG Ratio: 0.795
Next Earnings: 04/25/2006
Last Analyst Rating: Sell
WPSC is ON FIRE this morning! (Well so is AKS but less hot. :P)
I made the call around yesterday afternoon when WPSC was flirting with the uptrend slope and making a potential intraday reversal at $18. Check out my post (http://dinvestor.com/2006/03/28/wpsc-intraday-reversal/).
Up over 6% in less than a day... not bad at all... >:D
I think there's still much space for WPSC to move up so get on the boat before it goes 20+...
This Double Bottom had a very nice play to it.
Technicals
Record Price High
Percentage Gainer
Last Price Quote is:
6.10%above 13-day EMA
21.12%above 50-day EMA
RS Rating: 97
Fundamentals
Key Data:
Market Cap (M): $1,545.60
P/E Ratio: 8.10
PEG Ratio: 0.775
Next Earnings: 04/25/2006
Last Analyst Rating: Sell
Go with the flow and make some dough...... 8) Breakout..... ;D
Volume: 5,890,100
Avg Vol (3m): 3,478,840
Technicals
Record Price High
Gap Up
Percentage Gainer
Last Price Quote is:
11.47%above 13-day EMA
27.31%above 50-day EMA
RS Rating: 98
Fundamentals
Key Data:
Market Cap (M): $1,545.60
P/E Ratio: 8.10
PEG Ratio: 0.795
Next Earnings: 04/25/2006
Last Analyst Rating: Sell
Move north off a 50% Fibonacci retracement.
Looking more like consolidation after some profit taking.
Volume: 5,087,600
Avg Vol (3m): 2,878,170
Technicals
Percentage Gainer
Last Price Quote is:
4.32%above 13-day EMA
-1.13%below 50-day EMA
RS Rating: 90
Fundamentals
Key Data:
Market Cap (M): $1,377.37
P/E Ratio: 8.10
PEG Ratio: 0.675
Next Earnings: 07/25/2006
Last Analyst Rating: Sell
AP
Sector Snap: Steel Makers
Thursday October 5, 2:39 pm ET
Steel Sector Shares Rally Following Latest Merger News, Bullish Note on U.S. Steel
NEW YORK (AP) -- Steel sector shares climbed Thursday, a day after India's Tata Steel confirmed it is contemplating a $10.6 billion bid for steel maker Corus Group PLC -- the latest potential major combination in a consolidating industry.
Elsewhere, Bank of America analyst Kuni M. Chen recommended investors add to United States Steel Corp. positions. The analyst expects sequential improvements across all the company's businesses.
Chen maintained a "Buy" rating on the stock. Shares of U.S. Steel gained $3.31, or 5.9 percent, to $59.26 at midday on the New York Stock Exchange.
Earlier, Mumbai-based Tata said in a statement that it "is evaluating various opportunities including Corus," the Anglo-Dutch steel maker based in London. Some analysts argue that further consolidation will give the industry more pricing power and increased economies of scale.
A combined Tata-Corus entity would have an annual steel production of 25 million tons, making it the world's fifth or sixth largest steel producer, according to a recent JPMorgan Chase & Co. report based on 2005 figures.
On the New York Stock Exchange, steel maker shares rallied.
AK Steel Holding Corp. shares rose 76 cents, or 6.3 percent, to $12.79. Nucor Corp. shares advanced $2.67, or 5.5 percent, to $51.42, while shares of Reliance Steel & Aluminum Co. shares added $1.62, or 5.2 percent, to $32.78 in midday trading.
Breakout......
Symmetrical Triangle (Continuation) Pattern
52wk Range: 6.28 - 15.95
Volume: 2,449,900
Avg Vol (3m): 2,181,530
Technicals
MACD - Bullish
Last Price Quote is:
6.80%above 13-day MA
6.25%above 50-day MA
RS Rating: 30
Fundamentals
Key Data:
Market Cap (M): $1,330.66
P/E Ratio: 8.10
PEG Ratio: 0.615
Next Earnings: 10/24/2006
Last Analyst Rating: Sell
• Steel stocks rise again, with U.S. Steel outpacing peers
AP
Sector Wrap: U.S. Steel Up on Report
Monday October 16, 4:54 pm ET
Shares of Steel Companies Close Higher on Takeover Speculation, Driven by U.S. Steel
NEW YORK (AP) -- Steel stocks continued last week's rally as takeover speculation circled again, this time around Pittsburgh-based United States Steel Corp.
Barron's magazine reported in this week's edition that consolidation trends in the steel industry highlight U.S. Steel Corp. as an enticing prospect for an acquisition.
ADVERTISEMENT
Shares of U.S. Steel have climbed 10 percent since Oct. 3 due to takeover speculation, the article said, tugged along in part by Tata Steel's recent interest in buying London-based steel producer Corus Group PLC. Tata Steel is part of the Indian conglomerate Tata Group.
Earlier in the year, in a highly publicized battle, Mittal Steel Co. NV won its takeover bid for Arcelor SA in a deal that will create a titan controlling close to 10 percent of the world's steel production.
Also boosting steel maker stocks were positive comments from Wall Street analysts about upcoming earnings reports. CIBC World Markets analyst Michael Willemse listed U.S. Steel as one of the companies likely to beat estimates by a fair margin.
U.S. Steel shares rose $2.50, or 3.8 percent, to close at $67.94 on the NYSE Monday.
Reliance Steel & Aluminum Co. rose 75 cents, or 2.2 percent, to close at $35.52, while AK Steel Holding Corp. added 44 cents, or 3 percent, to $15.11, and IPSCO Inc. shares climbed $1.08 to close at $90.93.
Oregon Steel Mills Inc. shares added $1.31, or 2.4 percent, to $55.15, also on the Big Board, while Steel Dynamics Inc. added 82 cents to close at $58.26 on the Nasdaq.
Volume is very encouraging..... ;)
52wk Range: 6.53 - 15.95
Volume: 2,702,500
Avg Vol (3m): 2,238,540
Technicals
Percentage Gainer
Last Price Quote is:
13.49%above 13-day MA
19.05%above 50-day MA
RS Rating: 76
Fundamentals
Earnings Expected on Oct 24
Key Data:
Market Cap (M): $1,330.66
P/E Ratio: 8.10
PEG Ratio: 0.615
Next Earnings: 10/24/2006
Last Analyst Rating: Sell
AP
AK Steel Reports 3Q Profit
Tuesday October 24, 4:57 pm ET
By Terry Kinney, Associated Press Writer
AK Steel Reports 3Q Profit Despite Lockout
CINCINNATI (AP) -- AK Steel Holding Corp. said on Tuesday that it swung to a profit in the third quarter, helped by higher prices that offset a decline in shipments as the steelmaker operates its Middletown Works with replacement workers.
But company officials warned that higher costs for energy and raw materials in the fourth quarter, along with planned maintenance outages, could erode profits.
AK Steel reported earnings of $26 million, or 23 cents a share, for the quarter ended Sept. 30 compared with a loss of $29 million, or 26 cents a share, a year ago. Sales were $1.55 billion compared with $1.39 billion a year ago.
Results included a charge of $15.8 million for implementing new labor agreements at the company's Zanesville, Ohio, and Butler, Pa., operations, and a $3 million reduction in the value of a deferred tax asset due primarily to a change in Pennsylvania tax law.
Excluding these items, earnings would have been $39.7 million, or 36 cents a share. Analysts surveyed by Thomson Financial expected 34 cents a share.
"In a defining year, AK Steel's most recent operating and financial results continued a steady upward trend," chairman and CEO James Wainscott said in a statement. "Although we recently have seen some slowing in a few of our key carbon steel markets, we anticipate continued strong demand during the fourth quarter for our stainless and electrical products."
Operating profit was $36 a ton in the third quarter but is expected to fall to $30 to $35 in the fourth quarter, the company said.
AK locked out hourly production and maintenance workers at its Middletown Works when their contract expired Feb. 28. Union members have rejected both contract offers submitted for a vote, in September and again last week.
Industry analyst Charles Bradford of Bradford Research/Soleil Securities in New York, said AK continues to be the subject of takeover rumors and would become more attractive if it resolves its labor issues.
"The industry is consolidating, and they are subject to takeover because they are relatively small and flexible," Bradford said.
Wainscott told analysts on a conference call that AK would continue operating with replacements as long as necessary, but would prefer to reach accord with its union members.
"We are all about improving our competitiveness," he said. "If in the process of doing that it makes us more attractive, so be it; but we are not actively marketing AK Steel."
For the first nine months of 2006, AK reported net income of $63.1 million, or 55 cents a share, compared with $39.2 million, or 35 cents a share. Sales were $4.49 billion, compared with $4.27 billion.
Last year's results were hurt by Gulf Coast hurricanes, about $7 million in one-time costs from a new labor agreement at AK's Ashland, Ky., Works and a $29.5 million charge for scheduled maintenance outages at Middletown and Ashland. The company also paid more for steel and scrap, other raw materials, and natural gas, primarily because of production disruptions following Hurricanes Katrina and Rita.
AK shares rose 56 cents, or 3.7 percent, to close at $15.56 on the New York Stock Exchange, near its 52-week high of $15.95. The company's stock has traded as low as $6.73 in the past year.
AK Steel makes flat-rolled carbon steel, and stainless and electrical steel used in cars and appliances. Its biggest mill and headquarters are in Middletown, about 30 miles north of Cincinnati, with smaller plants in Zanesville, Mansfield and Coshocton, Ohio; Ashland, Ky.; Rockport, Ind.; and Butler, Pa.
AK Steel: http://www.aksteel.com
Watch er close.........
Support @ $15.47...15.24...14.11
Resistance @ $16.00
Recent CandleStick Analysis
Bearish
Oct-20-2006 Bearish Engulfing
52wk Range: 6.73 - 15.95
Volume: 4,762,400
Avg Vol (3m): 2,196,350
Technicals
Last Price Quote is:
8.48%above 13-day MA
16.85%above 50-day MA
RS Rating: 88
Fundamentals
Reports Earnings
Earnings Expected on Oct 24
Key Data:
Market Cap (M): $1,330.66
P/E Ratio: 8.10
PEG Ratio: 0.615
Next Earnings: 01/23/2007
Last Analyst Rating: Sell
"AKS" Threads have been Merged.
One (1) of these threads had to be moved from the Penny Stock Picking Board.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders. ;D
All history on a stock pick in 1 thread is awesome. ;)
Thank You....and good luck with all your trades....make some $$$
I will leave you the chart while I'm in this thread
AP
Steel Prices Slipping
Monday December 4, 3:06 pm ET
By Christopher Scinta, Dow Jones Newswires
Steel Prices Slip, but Inventory Glut Seen Short-Lived
NEW YORK (AP) -- Steel prices are continuing to slide from summer highs and the weakness appears to be spreading to niche markets like pipes and beams, which were largely unhurt before.
Imports, particularly from China and Russia, have persisted at high levels -- about 3.5 million tons in October. That, coupled with struggling auto makers cutting production and the slowdown in the housing market, has kept U.S. inventories up at about 3.6 months of supply at steel wholesalers and processors called steel service centers.
Various steel makers have said they expect weakness in the fourth quarter as service centers work through those inventories. Last week, West Virginia's Wheeling-Pittsburgh Corp. warned its fourth-quarter results would be below its prior outlook due to lower prices and shipments and higher costs.
The average spot market price of hot-rolled steel sheet fell to around $565 a ton in November from about $600 a ton in October and around $630 a ton this summer. Prices for more specialized products like galvanized steel and structural beams have fallen, too, in November compared with October, according to Purchasing Magazine.
"More steel goes on sale when the economy is weaker," said independent steel analyst Michelle Applebaum, who thinks some producers are selling hot-rolled sheet for less than $500 a ton. Steel prices are more difficult to pinpoint than those for other metals like aluminum and copper, which are priced on an exchange.
Despite the declining prices for their products, steel maker shares have been on a run as speculation of more consolidation in the globally fragmented industry continues to drive shares.
In afternoon trading on the New York Stock Exchange, Pittsburgh-based U.S. Steel Corp. shares rose $23.58, or 3.5 percent, to $75.58.
Charlotte, N.C.-based Nucor Corp. was up $5.07, or 8.6 percent Monday to $63.70 after setting a new 52-week high of $64.23.
Middletown, Ohio-based AK Steel Holding Corp. was up 45 cents, or 2.8 percent, at $16.47, after setting a 52-week high of $16.59 passing the $16.55 set Nov. 30.
Mary O'Connor, of industry consulting firm Locker Associates, said smaller producers that sell largely on the spot market -- such as Canada's Algoma Steel Inc. -- are suffering the most in the current environment.
An Algoma representative wasn't immediately available for comment.
Larger players who sell mostly through long-term contracts are still holding up well enough right now, but the troubles could filter up, O'Connor said, particularly as they negotiate next year's contracts.
As concerns about a cooling economy have cropped up in recent months, many steel makers have cited long-term contracts as protection against price declines. Yet, if those contracts are renewed during a period of low prices, they could keep companies from seeing revenue rise when steel demand and prices recover.
Some of the largest integrated U.S. steel makers -- like Arcelor Mittal USA and U.S. Steel -- have curtailed production by taking extended maintenance outages or idling furnaces outright in an effort to counter the inventory glut and support prices.
Mittal didn't return a call seeking comment. U.S. Steel declined to comment.
The inventory glut won't likely last long.
"It's astonishing how quickly they've cut production," Applebaum said of U.S. steel makers.
Monica Bonar, steel analyst with Fitch Ratings, said she expects the inventory overhang in the United States and Europe to be worked off "within next six months or so" and that the industry still has a reasonably good credit outlook with strong commercial construction offsetting reduced auto builders demand.
Applebaum expects it to be even shorter, with the inventory issue largely resolved by February.
Lowered production will result in higher costs per ton for U.S. steel makers, meaning earnings "certainly won't be as robust" as they have been, Bonar said.
Producers such as Nucor and Steel Dynamics Inc., which make steel from scrap in smaller electric arc furnaces, are meanwhile seeing the price of their key raw material fall, as steel scrap prices decline along with finished steel.
Steel prices are likely to become more accessible in the not-to-distant future, as both New York Mercantile Exchange and the London Metal Exchange are planning to offer steel futures contracts.
Today's closing chart....
52wk Range: 7.53 - 17.00
Volume: 3,472,400
Avg Vol (3m): 2,205,870
Market Cap: 1.84B
Technicals
Record Price High
Last Price Quote is:
5.82%above 13-day MA
13.37%above 50-day MA
RS Rating: 92
Fundamentals
Key Data:
Market Cap (M): $1,330.66
P/E Ratio: 8.10
PEG Ratio: 0.615
Next Earnings: 01/23/2007
Last Analyst Rating: Sell
Press Release Source: AK Steel
AK Steel Announces Fourth Quarter and Full-Year 2006 Earnings Date
Thursday December 21, 4:33 pm ET
MIDDLETOWN, Ohio, Dec. 21 /PRNewswire-FirstCall/ -- AK Steel (NYSE: AKS - News) said today it plans to release fourth quarter and full-year 2006 earnings results at approximately 8:30 a.m. Eastern Time on Tuesday, January 23, 2007.
In conjunction with its earnings release, AK Steel will provide live listening access on the Internet to its analyst conference call to be held at 11:00 a.m. Eastern Time on January 23, 2007. Access to the webcast will be available from the home page of the company's Web site at www.aksteel.com. The webcast will be archived on the company's Web site following the call until January 30, 2007 and will be accessible from the home page.
Headquartered in Middletown, Ohio, AK Steel produces flat-rolled carbon, stainless and electrical steel products, as well as carbon and stainless tubular steel products, for automotive, appliance, construction and manufacturing markets.
--------------------------------------------------------------------------------
Source: AK Steel
Bouncing off the 50-day MA......
52wk Range: 7.58 - 17.14
Volume: 1,207,500
Avg Vol (3m): 2,237,130
Technicals
Percentage Gainer
Last Price Quote is:
1.89%above 13-day MA
6.13%above 50-day MA
RS Rating: 90
Fundamentals
Key Data:
Market Cap (M): $1,330.66
P/E Ratio: 8.10
PEG Ratio: 0.615
Next Earnings: 01/23/2007
Last Analyst Rating: Sell
Below are the 6 month and 1 year charts.....
The bounce north off the 50-day MA continues today...
52wk Range: 7.58 - 17.14
Volume: 1,125,400
Avg Vol (3m): 2,219,160
Technicals
Close Above the 13-day EMA
Percentage Gainer
Last Price Quote is:
6.34%above 13-day MA
10.94%above 50-day MA
RS Rating: 94
Fundamentals
Key Data:
Market Cap (M): $1,330.66
P/E Ratio: 8.10
PEG Ratio: 0.615
Next Earnings: 01/23/2007
Last Analyst Rating: Sell
Worthy of an update.......
AK Steel leaps to new high on rosier pricing outlook.
Nice work setravis. This has been a great one for you.
I sold this for a slight loss at 10.96..and also had WPSC which I sold at 15.90 for a slight profit. OUCH..missing 50%+ profits in both.
AK Steel to raise carbon steel products price by $30/ton...
The price increase is in response to increased demand for carbon steel products, and the need to recover higher costs for steelmaking inputs.
U.S. Steel mulls production boost as orders improve.
As of Saturday, 01-27-2007 23:59, the latest Comtex SmarTrend(SM) Alert, an automated pattern recognition system, indicated an UPTREND on 07-03-2006 for AKS @ $14.07. For more information on Comtex SmarTrend? Alert, contact your market data provider or go to www.CSTADirect.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright ? 2004-2007 Comtex News Network, Inc. All rights reserved.
Support @ $20.70...17.04...16.30
Resistance @ $24.00...26.00
52wk Range: 10.55 - 21.62
Volume: 3,464,300
Avg Vol (3m): 2,456,120
Technicals
Record Price High....... ;D
Stochastic is Bullish
Last Price Quote is:
14.39%above 13-day MA
27.59%above 50-day MA
RS Rating: 94
Fundamentals
Key Data:
Market Cap (M): $1,330.66
P/E Ratio: 8.10
PEG Ratio: 0.615
Next Earnings: N/A
Last Analyst Rating: Neutral
Below are the 6 Month, 1 Year, 2 Year and 3 Year Charts.......
$$ Stocks Rise With Alcoa, GM, 3M Charging Dow
Looks to be making a run at that high of $22.03.
52wk Range: 10.60 - 22.03
Volume: 2,532,619
Avg Vol (3m): 2,628,400
Technicals
Percentage Gainer
Last Price Quote is:
4.59%above 13-day MA
18.24%above 50-day MA
RS Rating: 95
Fundamentals
Key Data:
Market Cap (M): $1,330.66
P/E Ratio: 8.10
PEG Ratio: 0.615
Next Earnings: N/A
Last Analyst Rating: Neutral
Outstanding move....... ;)
Option activity is tremendous. Somebody knows something.
Stock retreated from high. Stock traded up on news of tentative Labor agreement.
52wk Range: 10.91 - 23.82
Volume: 9,791,800
Avg Vol (3m): 2,780,630
Technicals
Record Price High......................... ;D
Close Above the 13-day MA
Percentage Gainer
Price Gainer
Last Price Quote is:
5.37%above 13-day MA
17.81%above 50-day MA
RS Rating: 97
Fundamentals
Coverage Initiated: Equal-weight
Key Data:
Market Cap (M): $1,330.66
P/E Ratio: 8.10
PEG Ratio: 0.615
Next Earnings: N/A
Last Analyst Rating: Equal-weight
AP
Sector Snap: Steel Stocks Strengthen
Tuesday March 6, 12:04 pm ET
Shares of Steel Producers Rise As Broader Market Rebounds, Analyst Offers Bullish Outlook
NEW YORK (AP) -- Steel sector stocks strengthened Tuesday amid a Wall Street recovery and an analyst's bullish outlook for the industry.
Goldman Sachs analyst Aldo Mazzaferro projected rising steel prices and said "we would be aggressive buyers of steel shares" on low stock valuations and the prospect for higher dividends and share buybacks.
In a note to clients, he named United States Steel Corp. among his top picks. The company's stock rose $2.18 to $87.14 in midday trading on the New York Stock Exchange.
"We think steel stocks are becoming less risky relative to other sectors because of major changes in global supply demand balances, greater financial strength and liquidity and improving near-term fundamentals," Mazzaferro wrote.
Elsewhere, shares of AK Steel Holding Corp. picked up 86 cents, or 4.1 percent, to $22.02 on the New York Stock Exchange, as the broader market also rebounded from five turbulent sessions. Arcelor Mittal shares rose $1.57, or 3.2 percent, to $50.65 on the Big Board, while shares of Nucor Corp. were up $1.16 at $59.06.
Ryerson Inc., which processes and distributes metals, saw its shares gain $1.51, or 4.4 percent, to $35.94. Earlier Tuesday, the company postponed its annual stockholder meeting to continue its review of "strategic alternatives," including a possible sale.
Today's closing chart.......
AP
Sector Snap: Steel
Thursday March 29, 12:13 pm ET
Steel Companies Rise As U.S. Steel-Lone Star Deal Adds Momentum to Industry Consolidation
NEW YORK (AP) -- Shares of steel companies rose sharply Thursday after United States Steel Corp. said it plans to buy a steel pipe manufacturer for $2.1 billion cash, fueling an already frenzied pace of consolidation in the steel industry.
U.S. Steel, based in Pittsburgh, agreed to buy Dallas-based tubular steel manufacturer Lone Star Technologies Inc. at a 39 percent premium. Lone Star makes pipes to transport oil and gas.
FTN Midwest Securities analyst Bob Richard said steel companies were in big trouble at the beginning of the decade, with a handful going bankrupt. There were too many steel manufacturers, Richard said, and customers had all the leverage in negotiating prices.
The global steel industry has seen a spate of deals in the past few years, including the Mittal-Arcelor and Tata-Corus tie-ups. Steel companies are trying to grow so they can have better bargaining power and withstand price swings in the cyclical industry.
Shares of U.S. Steel reached a new high of $101.59 in morning trading on the New York Stock Exchange before moving back to $100, up $2.39 or 2.4 percent. The previous 52-week high was $98.53.
Lone Star Technologies also hit a new high, of $66.50. Later the shares traded at $66, up $17.55 or 36.2 percent.
Shares of Worthington Industries Inc. rose 80 cents, or 4.1 percent, to $20.42; IPSCO Inc. climbed $10.83, or 9.2 percent, to $129.04; shares of AK Steel Holding Corp. reached a new 52-week high of $23.94, slipping back to $23.40, up 78 cents or 3.5 percent; Reliance Steel & Aluminum Co. rose $1.27, or 2.8 percent, to $47.18; shares of Gerdau AmeriSteel Corp. added 28 cents, or 2.5 percent, at $11.45 on the New York Stock Exchange.
Steel Dynamics Inc. rose $1.55, or 3.8 percent, to $42.30; shares of Chaparral Steel Co. hit a new 52-week high of $59.15, then slid back to $57.87, up 48 cents; and Wheeling-Pittsburgh Corp. rose 56 cents, or 2.5 percent, to $23.02 on the Nasdaq Stock Market.
Speculative fury still thriving.......
52wk Range: 11.11 - 23.82
Volume: 5,019,200
Avg Vol (3m): 2,896,530
Technicals
Record Price High
Close Above the 13-day MA
Record Price Break Out
Percentage Gainer
Last Price Quote is:
2.52%above 13-day MA
10.00%above 50-day MA
RS Rating: 96
Fundamentals
Key Data:
Market Cap (M): $1,330.66
P/E Ratio: 8.10
PEG Ratio: 0.615
Next Earnings: N/A
Last Analyst Rating: Equal-weight
Worth an update.......
Technicals
Record Price High...... ;D
Last Price Quote is:
4.55%above 13-day MA
11.97%above 50-day MA
RS Rating: 96
Fundamentals
Earnings Expected on Apr 24
Key Data:
Market Cap (M): $1,330.66
P/E Ratio: 8.10
PEG Ratio: 0.6
Next Earnings: 04/24/2007
Last Analyst Rating: Equal-weight
Press Release Source: AK Steel Corporation
AK Steel's 2006 Stock Performance Termed 'Stellar' by Fortune Magazine
Monday April 16, 4:14 pm ET
Steelmaker Listed as Having 7th Best Total Return to Shareholders
MIDDLETOWN, Ohio, April 16 /PRNewswire-FirstCall/ -- AK Steel (NYSE: AKS - News) has been named by Fortune magazine as one of the best investments for 2006, ranking seventh in Fortune's category for total return to shareholders for the year. AK Steel was also named by Fortune as one of the top performing companies for revenues per dollar of equity, or "Most Bang For The Buck" as Fortune termed the category, with a ranking at number 22.
AK Steel's stock performance, a 112.6% increase during 2006, was called "stellar" by Fortune in its annual rankings of America's largest corporations.
With 2006 revenues of over $6 billion, AK Steel is ranked overall at number 378 on the famed Fortune 500 list, moving up from number 385 for the previous year. Other rankings for AK Steel include: the nation's sixth largest metals company; the fifth largest company in the Cincinnati, Ohio area; and the 21st largest Ohio company.
"For AK Steel, 2006 was a defining year," said James L. Wainscott, chairman, president and CEO of AK Steel. "Our rankings by Fortune reflect the significant progress we have made to return AK Steel to sustained profitability and enhance value for our shareholders."
Headquartered in Middletown, Ohio, AK Steel produces flat-rolled carbon, stainless and electrical steel products, as well as carbon and stainless tubular steel products, for automotive, appliance, construction and manufacturing markets.
--------------------------------------------------------------------------------
Source: AK Steel Corporation
Volume is very encouraging, Somebody knows something....
52wk Range: 11.11 - 25.06
Volume: 7,804,425
Avg Vol (3m): 3,070,940
Technicals
Record Price High
MACD - Bullish
Percentage Gainer
Last Price Quote is:
13.84%above 13-day MA
22.23%above 50-day MA
RS Rating: 97
Fundamentals
Earnings Expected on Apr 24
Key Data:
Market Cap (M): $2,776.98
P/E Ratio: 234.46
PEG Ratio: 0.61
Next Earnings: 04/24/2007
Last Analyst Rating: Equal-weight
AP
AK Steel CEO Gets $5.4M in Compensation
Monday April 16, 5:59 pm ET
By Lisa Cornwell, Associated Press Writer
AK Steel CEO Awarded 2006 Compensation of About $5.4 Million
CINCINNATI (AP) -- James Wainscott, AK Steel Holding Corp.'s top executive, received compensation valued at about $5.4 million in 2006, when 2,500 workers at the Middletown-based company were locked out for most of that year, according to an analysis of a regulatory filing.
Wainscott, the company's chief executive, president and chairman, received a salary of $900,000, incentives of $2.5 million and stock awards valued at $2 million.
Wainscott's compensation under the company's incentive plan, based on the company's safety, quality and financial performance, increased $120,000 over what it would have been under the initial plan to reflect extraordinary circumstances and quality performance by the company in 2006. The increase was based exclusively upon the company's outstanding performance with respect to customer claims, the company's filing said.
Wainscott received $28,643 of other compensation, which included perks such as personal financial planning and tax preparation services paid for by the company and personal use of corporate aircraft. The company did not break down the amount spent per each perk.
The company said it determines executive compensation based partly on the compensation of peers at companies with comparable sales, size and scope. The peer companies included Allegheny Technologies Inc. and Timken Co.
The Associated Press calculations of total pay include executives' salary, bonus, incentives and perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations do not include changes in the present value of pension benefits.
Union workers at the corporation's Middletown Works, the company's largest plant, approved a contract last month to end the lockout that began when the previous contract expired Feb. 28, 2006.
Production and maintenance workers who were locked out of AK Steel's Middletown Works have been returning to the mill since approval of the contract last month. The new contract runs through September 2011.
The company continued to operate the mill during the lockout with replacement workers and salaried employees.
For the 2006 fiscal year, AK earned $12 million, or 11 cents a share, after a loss of $2.3 million, or 2 cents a share, in 2005. Sales increased to $6.07 billion from $5.65 billion in 2005.
AK Steel said Monday it has been named by Fortune magazine as one of the best investments for 2006. Its 113 percent return last year put in seventh in Fortune's category for total return to shareholders for the year.
AK Steel makes flat-rolled carbon steel and stainless and electrical steel used in cars and appliances. The company's biggest mill and headquarters are in Middletown, about 30 miles north of Cincinnati, with smaller plants in Zanesville, Mansfield and Coshocton, Ohio; Ashland, Ky.; Rockport, Ind.; and Butler, Pa.
AK Steel: http://www.aksteel.com
AP
Profits Surge for AK Steel
Tuesday April 24, 1:13 pm ET
By Terry Kinney, Associated Press Writer
AK Steel Cites High Prices, Lower Costs in 1Q Earnings Jump
CINCINNATI (AP) -- AK Steel Holding Corp. said on Tuesday that its earnings soared on higher shipments and selling prices and lower operating costs at the company's Middletown Works, where workers were locked out for nearly 13 months.
AK Steel's stock jumped 5 percent to a modern high for the company, which began trading as AK Steel in 1994.
The steel maker said it made $62.7 million, or 56 cents a share, for the quarter ended March 31 compared with $6.2 million, or 6 cents a share, a year ago, when the lockout began. Sales were a record $1.72 billion, compared with $1.44 billion a year ago.
Analysts surveyed by Thomson Financial expected earnings of 45 cents a share on revenue of $1.7 billion.
"We exceeded our own high expectations ... and exceeded Wall Street's expectations as well," jubilant chief executive James Wainscott told analysts.
The announcement came the same day as Pittsburgh-based U.S. Steel reported earnings were 6.6 percent higher than a year ago. U.S. Steel shares fell, based on flat second-quarter projections, while AK rose to record highs.
"The real key is the forecast," said Charles Bradford of Bradford Research/Soliel Securities in New York. "U.S. Steel said it expected its second quarter to be about the same as the first quarter, which was a good quarter. But AK forecast an even better second."
AK Steel locked out workers at its Middletown Works when their contact expired Feb. 28, 2006, and continued operating the mill with replacement workers and salaried personnel.
The labor dispute ended last month, when hourly production and maintenance workers ratified a new 54-month agreement and began returning to work.
Wainscott told analysts Tuesday that the new contract would save AK Steel about $100 million a year, based on a nonguaranteed work force of about 2,000, compared with a defined work force of 3,114 under the old contract.
Actual employment was about 2,500 at the time of the lockout, so some of those savings were already realized.
AK said it shipped a record 1.6 million tons in the first quarter at a record selling price of $1,078 per ton, a 15 percent increase over the $940 per-ton mark set in the first quarter of 2006, and about 4 percent higher than the $1,041 per-ton level reached in the fourth quarter of 2006.
Operating profit was $120 million, or $75 per ton, a fourfold increase from the $29.4 million, or $19 per ton, the company said.
"We are beginning to experience the very positive effects of a strong market and new labor agreements at all of our plants, as well as our relentless cost and debt reduction initiatives, and we're taking that momentum into the second quarter," Wainscott said in a statement.
He said shipments in the second quarter are expected to be slightly higher than first-quarter levels, with selling prices about 2 percent to 3 percent higher. The company will incur a non-cash, pretax pension charge of $24.7 million related to the new labor agreement at the Middletown Works, Wainscott said.
Shares of AK Steel were up $1.40, nearly 5 percent, at $31.15 Tuesday afternoon on the New York Stock Exchange. Shares of U.S. Steel swung in the opposite direction, declining $4.45, more than 4 percent, to $102.55.
AK said it will redeem another $75 million in debt due to paid in 2009. The company redeemed $225 million of the $450 million of notes in March.
On Monday, the company said it would make an early $105 million contribution to its pension trust fund. That and an early contribution of $75 million the company made in January, would fully satisfy the company's obligation for 2007, the company said.
AK Steel makes flat-rolled carbon steel and stainless and electrical steel used in cars and appliances. The company's headquarters and largest mill are in Middletown, about 30 miles north of Cincinnati, and it has smaller plants in Zanesville, Mansfield and Coshocton, Ohio; Ashland, Ky.; Rockport, Ind.; and Butler, Pa.
AK Steel: http://www.aksteel.com
AK Steel 1st-quarter profit soars....... ;) ;D :D 8)
said on Today first-quarter profit rose more than 10 times its year-earlier result on higher steel prices and shipments as well as reduced labor costs.
In its first-quarter earnings release, AK Steel said net earnings were $62.7 million, or 56 cents per share, compared with $6.2 million, or 6 cents per share, a year earlier.
Sales in the quarter rose to $1.72 billion from $1.44 billion last year and steel shipments rose about 4.5 percent to 1.596 million tons, the company said.
52wk Range: 11.11 - 30.28
Volume: 8,449,100
Avg Vol (3m): 3,480,710
Technicals
Record Price High
Most Actives
Percentage Gainer
Last Price Quote is:
17.87%above 13-day MA
32.61%above 50-day MA
RS Rating: 98
Fundamentals
Reports Earnings
Earnings Expected on Apr 24
Key Data:
Market Cap (M): $3,146.07
P/E Ratio: 265.58
PEG Ratio: 0.72
Next Earnings: 07/24/2007
Last Analyst Rating: Equal-weight
Worth the time to put up Today's closing chart....... 8)
Just looking back at some stocks I used to own. Bought and sold both between $7-8, ....now $33.99(deep deep SIGH) :'( I sure miss Melf Elf ;D
Press Release Source: AK Steel
AK Steel Announces Second Quarter 2007 Earnings Date
Wednesday June 20, 10:03 am ET
MIDDLETOWN, Ohio, June 20 /PRNewswire-FirstCall/ -- AK Steel (NYSE: AKS - News) said today it plans to release second quarter 2007 earnings results at approximately 8:30 a.m. Eastern Time on Tuesday, July 24, 2007.
In conjunction with its earnings release, AK Steel will provide live listening access on the Internet to its analyst conference call to be held at 11:00 a.m. Eastern Time on July 24, 2007. Access to the webcast will be available from the home page of the company's Web site at www.aksteel.com. The webcast will be archived on the company's Web site following the call until August 1, 2007 and will be accessible from the home page.
Headquartered in Middletown, Ohio, AK Steel produces flat-rolled carbon, stainless and electrical steel products, as well as carbon and stainless tubular steel products, for automotive, appliance, construction and manufacturing markets.
--------------------------------------------------------------------------------
Source: AK Steel
Profiting from,
the roll on Metals...
MACD has stayed well above center for a nice span of time, also has the centerline suppressed
1st bounce off the 50-day MA now bouncing off the 13-day MA
Nice action ! 8)
52wk Range: 11.57 - 37.70
Volume: 4,033,225
Avg Vol (3m): 3,764,260
Technicals
Percentage Gainer
Last Price Quote is:
7.83%above 13-day MA
16.41%above 50-day MA
RS Rating: 98
Fundamentals
Key Data:
Market Cap (M): $3,928.40
P/E Ratio: 57.49
PEG Ratio: 0.655
Next Earnings: 07/24/2007
Last Analyst Rating: Equal-weight
AK Steel Might Deliver Upside Earnings Surprise.......
The company has apparently been successful in reducing its costs such that it is now possible that they had operating earnings of more than $100 a ton in the second quarter. This could bring earnings to $0.78 a share, a material improvement compared to firm's previous forecast of $0.63 a share and the consensus estimate of $0.68.
52wk Range: 11.57 - 39.95
Volume: 1,544,300
Avg Vol (3m): 3,746,750
Technicals
Record Price High
Last Price Quote is:
3.68%above 13-day MA
13.35%above 50-day MA
RS Rating: 97
Fundamentals
Earnings Expected on Jul 24
Key Data:
Market Cap (M): $4,403.73
P/E Ratio: 64.45
PEG Ratio: 0.75
Next Earnings: 07/24/2007
Last Analyst Rating: Equal-weight
Quote from: setravis on July 14, 2007, 07:21:47 PM
AK Steel Might Deliver Upside Earnings Surprise.......
The company has apparently been successful in reducing its costs such that it is now possible that they had operating earnings of more than $100 a ton in the second quarter. This could bring earnings to $0.78 a share, a material improvement compared to firm's previous forecast of $0.63 a share and the consensus estimate of $0.68.
AP
AK Steel Reports Record 2Q Profits
Tuesday July 24, 10:36 am ET
By Terry Kinney, Associated Press Writer
AK Steel Reports Record 2Q Profits With Labor Troubles Behind It
CINCINNATI (AP) -- AK Steel Holding Corp. said Tuesday that second-quarter earnings more than tripled on record sales and shipments, compared with a year ago when the steelmaker was four months into a yearlong lockout at its biggest plant.
Net income for the three months ended June 30 was $109.9 million, or 98 cents a share, compared with $29.1 million, or 26 cents a share, a year ago. Net sales were a record $1.87 billion on shipments of 1.7 million tons, compared with $1.5 billion on shipments of 1.6 million tons a year ago.
Analysts surveyed by Thomson Financial were looking for profits of 70 cents per share.
Shares rose $1.47, or 3.8 percent, to $40.10 in early trading Tuesday. Shares have sold from $11.57 to $40.48 in the past year.
The company reported a pretax, non-cash charge of $24.7 million related to a new labor agreement at the Middletown Works. Excluding that charge, operating profit was $212.1 million, or $124 per ton.
"AK Steel's excellent second quarter results reflect strong shipment levels and prices for our products, an outstanding operating performance, and our unrelenting efforts to reduce costs," said James L. Wainscott, chairman, president and chief executive of AK Steel.
Net income for the first six months of 2007 was $172.6 million, or $1.55 a share, compared with $35.3 million, or 32 cents a share, a year ago. Sales were $3.59 billion in the first half of the year, compared with $2.93 billion in 2006.
AK Steel operated its largest mill, the Middletown Works, with replacement workers and salaried personnel throughout the second quarter of 2006. Locked-out hourly production and maintenance workers ratified a new agreement in March that goes through September 2011, and the mill has been operating with about 1,000 fewer workers than under the old contract.
The company said it will use cash reserves to pay $150 million in debt due in February 2009. About $225 million of the original $450 million in notes was redeemed in March, and another $75 million in May.
"Enhancing shareholder value by reducing our debt to strengthen our balance sheet continues to be a high priority for AK Steel," Wainscott said.
AK announced on Monday that it will make a $70 million contribution to its pension fund this month, ahead of schedule. About 32,000 former employees or their surviving spouses receive benefits.
AK Steel makes flat-rolled carbon steel and stainless and electrical steel used in cars and appliances. The company's headquarters and largest mill are in Middletown, about 30 miles north of Cincinnati, and it has smaller plants in Zanesville, Mansfield and Coshocton, Ohio; Ashland, Ky.; Rockport, Ind.; and Butler, Pa.
AK Steel: http://www.aksteel.com
AK Steel Reports Record 2Q Profits
Rock on AKS.......
Earnings up last 4 quarters.
52wk Range: 11.57 - 41.87
Volume: 5,072,075
Avg Vol (3m): 3,797,470
Technicals
MACD - Bullish
Last Price Quote is:
5.71%above 13-day MA
14.75%above 50-day MA
RS Rating: 97
Fundamentals
Key Data:
Market Cap (M): $4,272.37
P/E Ratio: 62.53
PEG Ratio: 0.76
Next Earnings: 10/23/2007
Last Analyst Rating: Equal-weight
Two weeks ago the stock hit a 52-week high
and since then has pulled back substantially.
I believe this dip to be a good buy opportunity...JMHO of course... ;)
52wk Range: 13.94 - 41.87
Volume: 1,887,600
Avg Vol (3m): 3,411,990
Technicals
Last Price Quote is:
-1.97%below 13-day MA
-1.79%below 50-day MA
RS Rating: 80
Fundamentals
Key Data:
Market Cap (M): $3,803.13
P/E Ratio: 25.60
PEG Ratio: 0.55
Next Earnings: 10/23/2007
Last Analyst Rating: Equal-weight
Quote from: setravis on August 13, 2007, 02:30:30 PM
Two weeks ago the stock hit a 52-week high
and since then has pulled back substantially.
I believe this dip to be a good buy opportunity...JMHO of course... ;)
Oversold (Long Recommendation).......
This stock is oversold. Good ratings from Schwab, GS and Barrons !
52wk Range: 11.57 - 41.87
Volume: 1,740,000
Avg Vol (3m): 3,501,090
Technicals
Percentage Gainer
Last Price Quote is:
2.84%above 13-day MA
-1.68%below 50-day MA
RS Rating: 82
Fundamentals
Key Data:
Market Cap (M): $3,594.69
P/E Ratio: 24.20
PEG Ratio: 0.525
Next Earnings: 10/23/2007
Last Analyst Rating: Equal-weight
AP
Sector Snap: Steel Producers
Tuesday August 21, 12:17 pm ET
Steel Producers Up With Broader Market Rise and Credit Suisse Outlook for Strong Demand
NEW YORK (AP) -- Shares of steel producers rose Tuesday, buoyed by the broader market and better rating on the sector from a Credit Suisse analyst.
Analyst Michael Shillaker upgraded the steel sector to "Overweight" from "Market Weight," saying a current steel destocking trend points to an upcoming period of accelerating demand growth. The analyst said 2008 and 2009 could be robust years for steel prices and volumes.
Global demand growth drivers such as urban development, infrastructure rebuilding, commodity and energy shortages are likely to continue, added Shillaker.
The analyst noted he might be a bit early with his call, and said investors could use the next couple of months to slowly build up positions. He particularly recommends Arcelor Mittal.
Shares of the company, which is currently working toward a combination of Mittal Steel Co. with Arcelor SA, rose 76 cents to $57.28.
Chaparral Steel Co. shares picked up 55 cents at $84.66. Nucor Corp. shares rose 89 cents to $50.50, while United States Steel Corp. shares jumped $3.54, or 4.2 percent, to $87.90.
Reliance Steel & Aluminum Co. shares added $2.51, or 5.3 percent, at $48.88, AK Steel Holding Corp. shares rose 63 cents to $32.62 and Allegheny Technologies Inc. shares jumped $3.20, or 3.4 percent, to $97.27.
Arcelor Mittal shares climbed $1.34, or 2.4 percent, to $57.86 and Steel Dynamics Inc. jumped $1.34, or 3.5 percent, to $39.33. Worthington Industries Inc. shares added 23 cents at $20.68.
Quote from: setravis on August 22, 2007, 02:44:25 PM
Quote from: setravis on August 13, 2007, 02:30:30 PM
Two weeks ago the stock hit a 52-week high
and since then has pulled back substantially.
I believe this dip to be a good buy opportunity...JMHO of course... ;)
Oversold (Long Recommendation).......
This stock is oversold. Good ratings from Schwab, GS and Barrons !
Shares of Metals Producers Rise With Broader Market on Rate Cut Hopes
52wk Range: 11.57 - 41.87
Volume: 2,982,700
Avg Vol (3m): 3,452,360
Market Cap: 4.59B
P/E (ttm): 30.65
EPS (ttm): 1.34
Technicals
Percentage Gainer
Last Price Quote is:
9.51%above 13-day MA
13.30%above 50-day MA
RS Rating: 93
Fundamentals
Key Data:
Market Cap (M): $4,458.53
P/E Ratio: 30.02
PEG Ratio: 0.62
Next Earnings: 10/23/2007
Last Analyst Rating: Neutral
AP
Sector Glance: Industrial Metals
Tuesday September 4, 4:19 pm ET
Shares of Metals Producers Rise With Broader Market on Rate Cut Hopes
NEW YORK (AP) -- Shares of some industrial metals producers rose Tuesday, following the broader market up on hopes that the Federal Reserve will cut interest rates this month.
Citi analyst John H. Hill, in a client note, said shares of industrial metals miners have been jittery lately, as investors react to the market's mood swings on a possible Federal Reserve rate cut.
Many investors and analysts believe the Fed will cut its key interest rate to help the credit market, which is facing diminished liquidity. Chairman Ben Bernanke has said the central bank will do everything it can to keep the markets in check.
Industrial metals prices are closely linked to expectations of global economic growth, as demand for these metals tends to rise during periods of expansion.
Hill said industrial metals that are in high demand in developing China -- which includes copper, zinc, nickel, aluminum -- should be protected against dramatic downturns in the U.S. economy.
Copper for December delivery fell $9.10 to end at $3.306 per pound on the New York Mercantile Exchange.
Here's a look at how shares of some industrial metals producers performed Tuesday.
Freeport-McMoRan Copper & Gold Inc. shares rose $3.63, or 4.2 percent, to $91.05, and BHP Billiton Ltd. shares added $1.07 to $64.22.
Rio Tinto PLC shares surged $9.30, or 3.4 percent, to $284.10, and Century Aluminum Co. shares added $1.21, or 2.5 percent, to $50.39.
Chaparral Steel Co. shares rose 18 cents to $85.68, and Worthington Industries Inc. shares added 39 cents to $21.55.
• UPDATE - AK Steel settles retiree suit, shares jump !
AP
AK Steel to Settle Suit Over Health Care
Monday October 8, 9:18 am ET
AK Steel to Settle Lawsuit Over Plan to Charge Retirees With Some Health Care Costs
WEST CHESTER, Ohio (AP) -- AK Steel Holding Corp. has agreed to settle a lawsuit over a plan to charge retirees from its Middletown Works plant some of the cost of health care benefits, the company said Monday.
The agreement calls for AK Steel to transfer its health care obligations for the covered retirees to a Voluntary Employees Beneficiary Association trust, which will be managed by the retirees, the company said.
The settlement covers about 4,600 retirees and must be approved by the U.S. District Court in Cincinnati, where the retirees had filed their suit.
AK Steel will initially fund the trust with a contribution of $468 million, and with three subsequent annual contributions of $65 million each, the company said.
The initial contribution will take place in the first quarter of 2008, the company said.
Stock was oversold and took a great bounce off support.
Indicators looking very nice.
Price action with some great looking volume.
52wk Range: 12.63 - 44.98
Volume: 1,912,500
Avg Vol (3m): 3,186,590
Technicals
Record Price High
Close Above the 13-day MA
Most Actives
Percentage Gainer
Price Gainer
Last Price Quote is:
12.19%above 13-day MA
20.22%above 50-day MA
RS Rating: 93
Fundamentals
Key Data:
Market Cap (M): $4,790.70
P/E Ratio: 32.25
PEG Ratio: 0.655
Next Earnings: 10/23/2007
Last Analyst Rating: Neutral
Quote from: setravis on September 05, 2007, 09:56:56 PM
Quote from: setravis on August 22, 2007, 02:44:25 PM
Quote from: setravis on August 13, 2007, 02:30:30 PM
Two weeks ago the stock hit a 52-week high
and since then has pulled back substantially.
I believe this dip to be a good buy opportunity...JMHO of course... ;)
Oversold (Long Recommendation).......
This stock is oversold. Good ratings from Schwab, GS and Barrons !
Shares of Metals Producers Rise With Broader Market on Rate Cut Hopes
52wk Range: 11.57 - 41.87
Volume: 2,982,700
Avg Vol (3m): 3,452,360
Market Cap: 4.59B
P/E (ttm): 30.65
EPS (ttm): 1.34
Technicals
Percentage Gainer
Last Price Quote is:
9.51%above 13-day MA
13.30%above 50-day MA
RS Rating: 93
Fundamentals
Key Data:
Market Cap (M): $4,458.53
P/E Ratio: 30.02
PEG Ratio: 0.62
Next Earnings: 10/23/2007
Last Analyst Rating: Neutral
Press Release Source: AK Steel
Webcast Alert: AK Steel Announces Third Quarter 2007 Earnings Webcast
Tuesday October 16, 7:30 am ET
WEST CHESTER, Ohio, Oct. 16 /PRNewswire-FirstCall/ -- AK Steel (NYSE: AKS - News) announces the following Webcast:
What: AK Steel's Third Quarter 2007 Conference Call
When: October 23, 2007 @ 11:00 a.m. Eastern
Where: www.aksteel.com
How: Live over the Internet -- Simply log on to the web at the
address above.
The webcast will be archived on the company's Web site following the call until October 30, 2007 and will be accessible from the home page. This webcast is copyrighted by AK Steel. All rights reserved. Any form of copying, rebroadcast, webcast or other distribution without express written permission is prohibited.
AK Steel produces flat-rolled carbon, stainless and electrical steel products, as well as carbon and stainless tubular steel products, for automotive, appliance, construction and manufacturing markets.
--------------------------------------------------------------------------------
Source: AK Steel
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
52wk Range: 13.94 - 51.19
Volume: 969,400
Avg Vol (3m): 3,334,410
Technicals
Percentage Gainer
Last Price Quote is:
8.00%above 13-day MA
20.25%above 50-day MA
RS Rating: 95
Fundamentals
Earnings Expected on Oct 23
Key Data:
Market Cap (M): $5,521.90
P/E Ratio: 37.18
PEG Ratio: 0.74
Next Earnings: 10/23/2007
Last Analyst Rating: Neutral
;)
I kept you on alert ....... ???
Great stock, bad economy,
Is it time to short the winners... ???
We are in a bear market, now you short on the peaks and cover on the lows.......
52wk Range: 21.25 - 56.27
Volume: 3,628,826
Avg Vol (3m): 3,142,150
Market Cap: 6.20B
P/E (ttm): 16.00
EPS (ttm): 3.47
Div & Yield: 0.20 (0.40%)
Technicals
Last Price Quote is:
5.86%above 13-day MA
14.60%above 50-day MA
RS Rating: 93
Fundamentals
Key Data:
Market Cap (M): $6,114.88
P/E Ratio: 15.78
PEG Ratio: N/A
Next Earnings: 04/22/2008
Last Analyst Rating: Hold
AP
Sector Snap: Steel Producers Gain
Monday April 7, 10:59 am ET
Higher Steel Prices Lift Shares of Steel Producers; Analyst Raises Price Target on US Steel
NEW YORK (AP) -- Shares of steel producers gained Monday as rising prices for the commodity led one analyst to boost his price target for shares of United States Steel Corp.
David S. Martin of Deutsche Bank-North America said in a client note that U.S. Steel "is best positioned in our America's coverage to benefit from rising steel prices via its integrated business model."
He raised his price target to $165 from $130.
Martin noted that the company is insulated from soaring prices for iron, the raw material for steel, because it produces virtually all the iron it consumes. And its iron output is increasing.
Further, U.S. Steel is partially isolated from skyrocketing prices for coal, which is needed to make carbon steel, because it has signed longer-term contracts with its coal suppliers and has disclosed that its requirements are "locked up" for 2008 with marginal increases, Martin wrote.
Goldman Sachs analyst Aldo Mazzaferro, writing in a client note last week, said that "much higher-than-expected steel prices, partly offset by record scrap metal and other input costs, should generate well above consensus earnings for steel mills and service centers. Although the steel stocks have appreciated, we still view them as undervalued."
Nucor Corp. and U.S. Steel are his top picks in the sector.
Shares of U.S. Steel rose $6.56, or 4.7 percent, to $147.29, and Nucor rose $1.84, or 2.6 percent, to $72.35.
Elsewhere in the sector, AK Steel Holding Corp. rose $2.30, or 3.7 percent, to $63.28, and Commercial Metals Co. rose 46 cents to $32.79.
ArcelorMittal shares rose 90 cents to $86.07, BHP Billiton Ltd. rose $2.59, or 3.5 percent, to $75.84 and Rio Tinto PLC rose $10.47, or 2.3 percent, to $464.97.
52wk Range: 23.53 - 64.40
Volume: 5,305,641
Avg Vol (3m): 3,369,050
Market Cap: 7.05B
P/E (ttm): 18.18
EPS (ttm): 3.47
Div & Yield: 0.20 (0.30%)
Technicals
Record Price High
Last Price Quote is:
9.94%above 13-day MA
20.75%above 50-day MA
RS Rating: 95
Fundamentals
Key Data:
Market Cap (M): $6,828.88
P/E Ratio: 17.62
PEG Ratio: N/A
Next Earnings: 04/22/2008
Last Analyst Rating: Hold
Despite recent volatility in the broader markets, the steel sector has exhibited fantastic price action, supported by solid earnings and growth. With daytraders and investors alike trying to find the newest momentum plays, steel companies like AK Steel (AKS) and
United States Steel (X) are making fresh 52-week highs almost daily.
Obviously, there is a fundamental reason behind the steel rally. For starters, steel plays a critical role in the infrastructural development and overall economy of any developing nation. In fact, between 2000 and 2005, world steel demand increased by 6% a year. And while the most recent consumption figures have yet to be published, it is widely speculated that recent consumption has grown at an even greater rate, along the lines of 10%-15%.
52wk Range: 23.53 - 64.94
Volume: 3,374,121
Avg Vol (3m): 3,358,600
Market Cap: 7.49B
P/E (ttm): 19.32
EPS (ttm): 3.47
Technicals
Record Price High
Price Gainer
Last Price Quote is:
13.14%above 13-day MA
26.06%above 50-day MA
RS Rating: 97
Fundamentals
Earnings Expected on Apr 22
Key Data:
Market Cap (M): $6,828.88
P/E Ratio: 17.62
PEG Ratio: N/A
Next Earnings: 04/22/2008
Last Analyst Rating: Hold
Div & Yield: 0.20 (0.30%)
AKS, as well as other steel companies, enjoy pricing power due to high commodity costs, low inventory and strong global demand. Over the past month, earnings estimates on AKS for this year improved by 7.3%. The company will report its first-quarter results later this month. It surpassed earnings estimates in each quarter last year with an average surprise of 34.5%. In the fourth quarter, earnings per share of 95 cents topped the consensus by more than 61%, while sales advanced 7% to $1.69 billion.
Did you ride this up ? ;) ;D
I tried to keep this on your radar !
Check out the Watch List ...Here.......
http://www.3stocksonfire.org/trading/index.php?topic=7100.120
52wk Range: 27.90 - 73.07
Volume: 2,691,445
Avg Vol (3m): 2,922,150
Market Cap: 7.92B
P/E (ttm): 18.60
EPS (ttm): 3.80
Div & Yield: 0.20 (0.30%)
Technicals
Close Above the 13-day MA
Last Price Quote is:
0.80%above 13-day MA
6.36%above 50-day MA
RS Rating: 91
Fundamentals
Key Data:
Market Cap (M): $7,917.03
P/E Ratio: 18.60
PEG Ratio: N/A
Next Earnings: 07/22/2008
Last Analyst Rating: Hold
AP
Out of the Gate: AK Steel up, added to S&P 500
Friday June 27, 10:27 am ET
AK Steel shares jump after company is added to S&P 500
NEW YORK (AP) -- Being added to the S&P 500 is giving shares of AK Steel Holdings an early boost Friday.
Standard & Poor's announced late Thursday that the West Chester, Ohio, steel maker was being added to its large-cap S&P 500 index. Shares of companies added to the index usually receive a bump as funds that track the index buy the shares.
AK Steel shares rose $4.49, or 7.1 percent, to $67.67 in early trading. Shares are up about 39 percent for the first half of this year and more than 70 percent over the past 52 weeks as the steel industry benefits from higher demand and prices.
AK Steel replaces Countrywide on S&P 500
Standard & Poor's will add AK Steel Corp. to its S&P 500 Index, replacing Countrywide Financial Corp., the ratings service said Thursday.
Shareholders this week approved the acquisition of Calabasas, Calif.-based mortgage lender Countrywide by Charlotte, N.C.-based Bank of America (NYSE: BAC), with the deal expected to close July 1.
AK Steel (NYSE: AKS), headquartered in West Chester, produces flat-rolled carbon, stainless and electrical steel products, as well as carbon and stainless tubular steel products.
--------------------------------------------------------------------------------------------------------------------
Be patient, do the homework, wait for a pullback, and then pull the trigger.
Take advantage of the lower prices and buy? This is exactly what you should do if you want to invest in a stock.
Quote from: setravis on June 16, 2005, 08:55:57 PM
Looks like a double bottom formed it has moved outside
of it's down channel.Oversold good entry point.
Turning up,very safe investment mid-long term.
I am looking to get in tomorrow,I am going to set myself a short term target of
$12 to $14
http://stockcharts.com/def/servlet/SC.web?c=aks
Was an under statement...
This has moved over 800% since that post.
Below is the 4 year chart.......
AP
AK Steel sets 5-cent quarterly dividend
Friday January 30, 7:59 pm ET
AK Steel declares quarterly dividend of 5 cents, payable March 10
WEST CHESTER, Ohio (AP) -- AK Steel on Tuesday declared a regular quarterly dividend of 5 cents.
The steel producer said it would pay the dividend on March 10 to shareholders of record Feb. 13.
Bleeding is over......Cheap Steel...Bottom fishing AK Steel. Too low to pass up.
Recommended by several brokerages. 2% yield. p/e of 2.2 trailing, and 5.86 for 2009. Beneficiary of infrastructure spending. 52 week high low are 73 and 5.20.
insiders were buying at 9.50...target 20.
52wk Range: 5.20 - 73.07
Volume: 952,634
Avg Vol (3m): 8,378,630
Market Cap: 947.18M
P/E (ttm): 234.72
EPS (ttm): 0.04
Div & Yield: 0.20 (2.60%)
Technicals
Last Price Quote is:
-2.17%below 13-day MA
-17.76%below 50-day MA
RS Rating: 20
Fundamentals
Key Data:
Market Cap (M): $890.89
P/E Ratio: 695.09
PEG Ratio: N/A
Next Earnings: 04/21/2009
Last Analyst Rating: Hold
updated chart look...
Quote from: setravis on February 04, 2009, 10:11:17 AM
Bleeding is over......Cheap Steel...Bottom fishing AK Steel. Too low to pass up.
Recommended by several brokerages. 2% yield. p/e of 2.2 trailing, and 5.86 for 2009. Beneficiary of infrastructure spending. 52 week high low are 73 and 5.20.
insiders were buying at 9.50...target 20.
updated chart look...
Broke the 200-day MA
The run up...
Looking at the 1 year chart
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=49089)
After the BeatDown...
Looking at the 2 year chart
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=49090)
AK Steel Announces Fourth Quarter And Full-Year 2010 Earnings Date
Press Release Source: AK Steel On Wednesday December 15, 2010, 2:56 pm EST
WEST CHESTER, Ohio, Dec. 15, 2010 /PRNewswire-FirstCall/ -- AK Steel (NYSE:AKS - News) said today it plans to release fourth quarter and full-year 2010 earnings before the opening of the New York Stock Exchange on Tuesday, January 25, 2011.
AK Steel will also provide live listening access on the Internet to its earnings conference call to be held at 11:00 a.m. Eastern Time on January 25, 2011. Access to the webcast will be available from the home page of the company's Web site at www.aksteel.com. The webcast will be archived on the company's Web site following the call until February 1, 2011 and will be accessible from the home page.
About AK Steel
AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for automotive, appliance, construction and electrical power generation and distribution markets. The company employs about 6,200 men and women in Middletown, Mansfield, Coshocton and Zanesville, Ohio; Butler, Pennsylvania; Ashland, Kentucky; Rockport, Indiana; and its corporate headquarters in West Chester, Ohio. Additional information about AK Steel is available on the company's web site at www.aksteel.com.
AK Tube LLC, a wholly owned subsidiary of AK Steel, employs about 300 men and women in plants in Walbridge, Ohio and Columbus, Indiana. AK Tube produces carbon and stainless electric resistance welded (ERW) tubular steel products for truck, automotive and other markets. Additional information about AK Tube LLC is available on its web site at www.aktube.com.
Volume Trend Reversal...
long term rounded bottom, and ADX coming out of a long term 20
should be a longer term hold here.......
Symmetrical Triangle Continuation Pattern...BreakOut!!!
Day's Range: 15.36 - 16.48
52wk Range: 11.34 - 26.75
Volume: 18,917,375
Avg Vol (3m): 6,618,960
Market Cap: 1.79B
P/E (ttm): 178.90
EPS (ttm): 0.09
Div & Yield: 0.20 (1.40%)
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
11.17%above 13-day EMA
16.99%above 50-day EMA
RS Rating: 70
Below are the 6 month and 1 year charts...
Steel Companies Poised for Growth as Demand Continues to Soar
The Bedford Report Provides Analyst Research on US Steel & AK Steel
Press Release Source: The Bedford Report On Wednesday December 22, 2010, 8:46 am EST
NEW YORK, NY--(Marketwire - 12/22/10) - Steel demand and production have improved nicely in the past year due to increased government support and more balanced demand. The rebound in demand has been largely attributed to -- at least in the US -- stronger auto and non-residential construction sectors. China posted a significant surge in steel imports last month; however stricter measures may reduce the nation's demand going forward. The Bedford Report examines the outlook for companies in the Steel Industry and provides research reports on United States Steel Corporation (NYSE:X - News) and AK Steel Holding Corporation (NYSE:AKS - News). Access to the full company reports can be found at:
www.bedfordreport.com/2010-12-X
www.bedfordreport.com/2010-12-AKS
Last week, The China Iron & Steel Association (CISA) said in its monthly report that the nation's steel demand will be affected by a number of measures taken by China to stall inflation. "Steel prices will continue to remain volatile within a narrow range on weak demand in the winter season," CISA said. The association added that "while long steel product prices will continue rising due to relatively rapid growth in demand compared with flat products."
The Bedford Report releases regular market updates on the Steel Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us for free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.
Steel industry experts expect steel prices to increase by $25-30 per tonne in the next three to four months, aided by growth in the auto sector. It is estimated that car production could increase by as much as 50 percent in the coming years as demand for automobiles picks up. This is welcome news for the steel industry as the automotive sector historically used around 20% of the United States production supply.
The Bedford Report provides Analyst Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above mentioned publicly traded companies. The Bedford Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at http://www.bedfordreport.com/disclaimer
Contact:
Contact: The Bedford ReportEmail Contact
I could see...
this making a double from here, maybe close to a triple?
Day's Range: 15.57 - 16.56
52wk Range: 11.34 - 25.12
Volume: 13,493,462
Avg Vol (3m): 8,883,470
Market Cap: 1.81B
P/E (ttm): N/A
EPS (ttm): -1.17
Div & Yield: 0.20 (1.30%
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
6.41%above 13-day EMA
6.11%above 50-day EMA
RS Rating: 33
Quality
At AK Steel, our official policy is to take a planned approach to continuous improvement of our products, processes and services in order to meet or exceed our customer's expectations 100% of the time. As a result of our commitment to quality, our carbon and specialty steel customers consistently rate AK Steel Number One in overall customer satisfaction, quality and delivery, according to independent customer surveys. And, as a testament to the level of quality produced by the employees of AK Steel, the company is a member of the steel industry's prestigious list of "World Class Steelmakers," as reported by World-Steel Dynamics, a leading steel industry information service.
Productivity
As a world leader in the production of flat-rolled carbon, stainless and electrical steel products, AK Steel operates the most flexible facilities in the steel industry – and that places us among the very best at adapting to ever-changing market conditions and customer needs. From casting to coating, AK Steel continues to set new productivity records across virtually every area of its operations. In fact, the company's Middletown Works holds the world-record for consecutive heats of carbon steel continuously cast on either a single-strand or double-strand caster. And, AK Steel's Rockport Works is a recipient of the U.S. Senate's Productivity Award.
AK Steel Announces First Quarter 2011 Earnings Date
West Chester, OH, March 15, 2011—AK Steel (NYSE: AKS) said today it plans to release its first quarter 2011 financial results before the opening of trading on the New York Stock Exchange on Tuesday, April 26, 2011.
AK Steel will also provide live listening access on the Internet to its earnings conference call to be held at 11:00 a.m. Eastern Time on April 26, 2011. Access to the webcast will be available from the home page of the company's website at www.aksteel.com. The webcast will be archived on the company's website following the call until May 3, 2011 and will be accessible from the home page.
Below are the 6 month, 1 year, 2 year and 3 year charts...
Steel Industry Outlook - March 2011
The global Steel industry is rather concentrated in structure, with a few producers accounting for the lion's share of sales. ArcelorMittal (NYSE: MT - News) is the world's largest steel company, with projected crude steel production of 90.6 million tons in 2011.
Steel products can be classified into four broad categories: flat steel products, long steel products, scrap and semi-finished products. Flat products include plates, hot-rolled strip and sheets, and cold-rolled strip and sheets. The long steel product category comprises wire rods, beams, reinforced bars and merchant bars. The products under both these categories are rolled from steel slabs, which are considered as unfinished or semi-finished products that are generally not sold.
Historically, the automotive and construction markets have remained the largest consumers of steel, absorbing more than half of total steel produced. Large automakers such as General Motors (NYSE: GM - News), Ford Motor Company (NYSE: F - News), Toyota Motor Corporation (NYSE: TM - News) and Honda Motor Company (NYSE: HMC - News) depend upon the steel industry. Other steel consuming industries include manufacturers of appliances, agricultural implements, converters, containers, energy, electrical equipment and industrial machinery.
Production
World crude steel production resumed growth 2009 on the back of a moderate rise in demand and the resumption of work at idled facilities. China has emerged as a major producer and consumer of steel, accounting for roughly half of total global steel production. Chinese steel consumption continued to grow through the global economic downturn as its economy only modestly decelerated from its multi-year growth trajectory. Growth in Chinese consumption is expected to remain a key driver for the global steel industry for a number of years to come.
According to the World Steel Association (WSA), world crude steel production was 119 million metric tons (mmt) in January 2011, an increase of 5.3% from January 2010. In 2010, world crude steel production reached a record 1,414 mmt, up 15% year over year.
China's crude steel production for January 2011 was 52.8 mmt, up 0.5% year over year. Japan produced 9.7 mmt of crude steel in January 2011, up 10.7% year over year. South Korea experienced an increase of 24.2% from January 2010, producing 5.6 mmt of crude steel in January 2011.
The US produced 6.8 mmt of crude steel in January 2011, an increase of 9.4% year over year. Brazilian crude steel production in January 2011 was 2.8 mmt, 3.8% higher than January 2010.
The year 2010 witnessed double-digit growth from all the major steel-producing countries and regions. The EU (European Union) and North America had higher growth rates due to the lower base effect from 2009 while Asia and the CIS (Commonwealth of Independent States) recorded relatively lower growth.
Growth Trends
With the global economy in a recovery mode since late 2009, the steel industry should continue on its recent improvement trend. However, given its economic sensitivity, we expect global steel demand to improve only gradually, in line with the recovery in the user industries, especially automotive and residential construction. According to World Steel Association ("worldsteel), steel demand in the U.S. was down 41.6% in 2009 at 57.4 million tons. However, with the economy in recovery mode, the industrial sector is expected to drive an increase of 5.3% in steel demand.
The steel industry has recorded high growth rates in both production and consumption over the past few years, benefiting from soaring steel demand in the automobile and construction sectors before the recession. Moreover, cost effective and highly efficient steel-making technologies have lifted the demand for US steel in the Middle Eastern and Asian countries.
Worldsteel expects steel demand in India to grow 13.7% in 2011, following a growth of 7.7% in 2009. The EU steel demand is expected to increase by 4% in 2011 and 2012 driven by the restocking of inventory. Spain and Italy saw a significant fall in steel production with the breakdown of their construction market.
In the short term, local steel demand in Japan will be lower as the country's carmakers have suspended production following the earthquake. However, the need for reconstruction of earthquake-devastated areas offers the steel industry significant hope. In the medium term, steel demand will likely surge.
India's steel demand is expected to grow by 13.6% in 2011. With 68 mmt of apparent steel use in 2011, India will become the third largest consumer of steel in the world after China and the US. India's steel use will be 32% above its 2007 level.
However, WSA expects the Chinese steel consumption to decelerate in 2011 as China tries to ease back on its own economic boom. Globally, WSA anticipates steel demand to rise 5.3% to 1.34 million tons in 2011.
Nearly 55% of Nucor Corporation's (NYSE: NUE - News) steel sheet volumes are under long-term price contracts, which should help it to navigate the slow economic recovery and maintain near-term profitability. Nucor is also striving to find innovative and cost-efficient ways to produce steel. The company's Castrip technology will structurally lower its cost of production and lead to meaningful long-term savings.
Commercial metals company AK Steel Holding (NYSE: AKS - News) reported strong fourth-quarter 2010 results. For first-quarter 2011, AK Steel expects a 7% sequential increase in the first quarter of fiscal 2011, leading to 1,450,000 tons and approximately 8% increase in its average per-ton selling price. The expected increase is attributable to the anticipated higher contract and spot market prices and better product mix.
On the other hand, one of the largest and most diversified producers of specialty materials in the world, Allegheny Technologies Incorporated (NYSE: ATI - News) recorded a net income of $15.1 million, or 15 cents per share in the fourth quarter of 2010, falling significantly short of last year's $37.8 million, or 36 cents per share. Fourth-quarter results were impacted by a $19.5 million LIFO inventory valuation reserve charge and $20.4 million in start-up and idle facility costs, which reduced earnings by 26 cents per share.
Industry Capacity
The global steel industry is capital intensive, cyclical, highly competitive and has historically been characterized by overcapacity. Capacity utilization rates were, however, low (around 60%) at the beginning of 2009, in response to the much softer demand. With steel demand picking up in the latter half of the year, world crude steel capacity utilization ratio in January 2011 was 75.6%, up from 73.3% in December 2010.
Steel makers continue to add capacity besides resuming operations at the idled facilities, inspired by the expected rebound in steel industry in the longer term.
Price Trends
The steel industry has long witnessed volatility in prices with a large spot market. Steel prices rose steadily for most of 2008, after which there was a downtrend. Lower prices had an adverse effect on steel producers, who recorded lower revenues and margins, and had to write down finished steel and raw material inventories.
The period witnessed major steel producers slashing production to minimize inventory accumulation. The U.S. Steel Corporation (NYSE: X - News), the fifth-largest steel producer worldwide, slashed production by almost 62% during the second quarter of 2009, while Korean steel maker POSCO (NYSE: PKX - News) cut production by about 15%. This was the first time in its history that POSCO was forced to adopt such a measure, which is a proof of the adverse operating environment.
Although steel prices have been stabilizing since the latter part of 2009, it is significantly below the pre-crisis level. We believe that a sustained recovery in steel prices remains uncertain in the backdrop of sluggish economic activity.
Factors Affecting Steel Prices
Chinese Imports: The steel industry is also affected by fluctuations in steel import–export and tariffs. China is the largest steel producer globally, and balances its domestic production and consumption, which is an important factor in global steel prices. Consumers in the U.S. are importing cheaper steel from China, which is forcing domestic steel producers to sell at lower prices, and even at a loss, sometimes. To this end, the U.S. government has been imposing anti-dumping duties on the Chinese steel imports.
Economic Sustainability: Concerns about the sustainability of economic recovery and question marks about China's growth momentum come into play in the pricing equation. This relatively uncertain Chinese outlook, coupled with a still tentative recovery in the developed world, is expected to weigh on prices.
Threat from Substitutes: Steel has many substitutes like aluminum, which replaces it in the automotive markets. Cement, composites, glass, plastic and wood are also used as steel substitutes. This significantly influences market prices and demand for steel products.
Raw Material Trends
The key input for steel production is iron ore. Apart from this, coking coal and coke, scrap, electricity and natural gas are also used as inputs in steel production. The raw materials industry is highly concentrated with only three major players -- Vale (NYSE: VALE - News), Rio Tinto and BHP Billiton (NYSE: BHP - News) -- having significant pricing power. The risk lies in further consolidation among raw material suppliers. For instance, the announced iron ore joint venture between mining companies BHP Billiton and Rio Tinto would further increase the pricing power of both the suppliers.
Steel makers would face higher production costs if suppliers shift to sales based on spot prices from the long-term fixed price contract system, as spot prices for most of the raw materials, especially iron ore, remained high from 2006 through 2008. In 2009, iron ore prices, which are linked with London Metal Exchange prices, were about 28% to 33% below the benchmark prices.
Iron ore prices remained volatile during most of 2010 and are expected to rise sharply in 2011. ArcelorMittal's iron ore and coal mining projects have been a key focus in recent years and this focus is only expected to intensify in the medium term, as the company has a goal to secure 100 million tonnes of iron ore supply from its own mines and under strategic long-term supply contracts on a cost-plus basis. As part of this strategy, in January 2011, the company announced the acquisition of Baffinland, which holds a substantial undeveloped iron ore deposit in the Canadian territory of Nunavut.
Consolidation
Mergers and acquisitions (M&A) have remained an important growth strategy in the steel industry. M&A activities prevent additional steel capacity, providing production efficiency and economies of scale. The biggest example is Mittal Steel's acquisition of Arcelor in 2006 and their merger in 2007. The Tata Steel and Corus merger in 2008 is another good instance of industry consolidation. The industry is likely to see more M&A activity in the coming years as the industry players prepare themselves for a recovery in the long run.
Zacks Recommendation
Steel demand in the emerging markets outside China is expected to grow strongly in 2011. In China, the government's expansionary economic policies, easy credit and construction initiatives have thus far sustained demand. But with China attempting to rein in its overheated property sector and engineer a soft landing for its economy, steel demand will most likely soften noticeably in the coming months. This relatively uncertain China outlook, coupled with a still tentative recovery in the developed world, is expected to weigh on prices.
In the short term, we are neutral on steel manufacturers like AK Steel Holding Corporation, Steel Dynamics Inc. (NasdaqGS: STLD - News) and Allegheny Technologies Incorporated.
AK Steel's cost structure is higher than its peer group due to a greater reliance on external supply of raw materials such as carbon scrap, purchased slabs, iron ore and purchased coke. Iron ore is the key raw material in steel manufacturing operations.
However, industry giants with integrated business models like U.S. Steel Corp. and ArcelorMittal have an edge over their peers. Both steel makers have substantial captive sources of iron ore and coal and source about 75%–80% of their coke and iron ore requirements from owned and/or operated facilities. U.S. Steel returned to profitability in fiscal 2010 on improving business conditions.
We expect Nucor Corp. to exhibit strong profitability driven by long-term contracts, cost reduction efforts and a dominant acquisition strategy.
Zacks Investment Research
AK Steel: Small-Cap Winner
AK Steel Holding...was a notable gainer among small-caps Tuesday, jumping 4% to $16.27 after Steve Cohen-managed hedge fund SAC Capital Advisors disclosed a 4.8% stake in the company. The deal makes Cohen one of the largest shareholders in the company, the Associated Press noted.
AK Steel EPS Rises Four-Fold...
Zacks Equity Research, On Tuesday April 26, 2011, 5:10 pm EDT
AK Steel Holding Corporation (NYSE: AKS) posted its first quarter results delivering an EPS of 8 cents compared with 2 cents during the year-ago quarter and striding ahead of the Zacks Consensus Estimate of a loss of a cent.
Net sales as reported by the company were $1,581.1 million on the shipments of 1,423,100 tons versus $ 1,405.7 million and 1,385,800 tons in the prior-year quarter. It however, missed the Zacks Estimate of $1,609 million. The improvement in the shipments was mainly due to higher pricing which increased 9% on a year over year basis to $1,109 per ton.
Shipments
Value-added shipments including stainless/electrical, Cold-rolled and Tubular product increased to 224.4, 344.8 and 34.2 tons respectively, compared with 212.1, 281.8 and 28.7 tons, respectively in the year-earlier quarter. However, shipments of coated product came down to 621.8 tons from 635.2 tons in the year-ago quarter.
Non value-added shipments including Hot-rolled decreased to 161.1 tons from 193.7 tons in the year-earlier quarter. On the contrary, non value-added shipments including secondary products increased to 36.8 tons from 34.3 tons in the prior-year quarter.
Cost and Margins
Cost of sales as reported by the company was 1,459.5 million versus $1,243.6 million in the year-earlier quarter. Selling and administrative expenses increased mildly to $55.4 million from $ 54.2 million in the year-ago quarter.
Operating income as reported by the company came down drastically to $19.5 million from $57.6 million in the prior-year quarter. Consequently, operating margins also tumbled 300 basis points year over year to 1% in the quarter.
Financial Position
Cash and cash equivalents reduced to $54.1 million as of March 31, 2011 versus $216.8 million as of December 31, 2011. Long-term debt of the company decreased marginally to $650.5 as of March 31, 2011 versus $650.6 million as of December 31, 2011.
The debt-to-capitalization ratio of the company stood at 51% as of March 2011 versus 50.2% as of December 31, 2010 and 38.4% as of September 30 2010.
Cash from operating activities was an outflow of $197.4 million compared with an outflow of $107.2 million at the end of first quarter of fiscal 2011.
Outlook
According to management shipments in the second quarter of fiscal 2011 are expected in the range of 1,500,000 and 1,550,000 tons, indicating a strong increase over the first quarter shipments. The company also anticipates its average per-ton selling price to be 7% higher compared with the first quarter. The operating profit is expected to be approximately $65 per ton for the second quarter of fiscal 2011.
Our Take
AK Steel is uniquely positioned to focus on products with high margins. Electrical steel continues to be the company's strongest product line, with demand recovering in the U.S. and abroad, though at a slower rate. AK Steel is operating its plants at above 80% capacity and is well positioned to serve the end markets when the demand rebounds.
However, higher input costs, particularly iron ore, is eroding margins of the company. Iron ore pricing concerns have led to a negative outlook for steel manufacturers. A K Steel currently retains a Zacks #1 Rank (short-term Strong Buy rating).
Ohio-based AK Steel Holding Corporation is a leading producer of flat-rolled carbon, stainless, electrical steel and tubular products. It operates 7 steel-making and finishing plants in Ohio, Pennsylvania, Indiana and Kentucky.
The basic raw materials required for the steel manufacturing are iron ore, coal, coke, chrome, nickel, silicon, manganese, zinc, limestone, and carbon and stainless steel scrap. Natural gas, electricity and oxygen are the sources of power for steel manufacturing operations. The company competes with companies like Nucor Corporation Common Stock (NYSE: NUE - News) and Steel Dynamics Inc. (NasdaqGS: STLD - News).
AK STL HLDG CORP (AKS): Read the Full Research Report
NUCOR CORP (NUE): Read the Full Research Report
Zacks Investment Research
AK Steel posts surprise 1Q profit...
shares rose 6.40% after the West Chester, Ohio-based company said its first-quarter profit more than quadrupled from the year-ago period. The company's stock has risen 29% over the past five months, from its closing price on Nov. 26 to its current selling price.
According to a morning note by Mark Parr, an analyst with KeyBanc Capital Markets, AK did well to manage those higher raw materials costs during the quarter. The company, he wrote, "is getting back to basics, with solid operational execution beginning to be revealed."
Day's Range: 16.32 - 17.07
52wk Range: 11.34 - 19.81
Volume: 17,438,678
Avg Vol (3m): 8,942,360
Market Cap: 1.87B
P/E (ttm): N/A
EPS (ttm): -1.17
Div & Yield: 0.20 (1.20%)
Technicals
Most Actives
Percentage Gainer
Last Price Quote is:
7.36%above 13-day MA
8.20%above 50-day MA
RS Rating: 84