Breaking News Instant updates and real-time market news.

X

U.S. Steel

$21.50

0.28 (1.32%)

, NUE

Nucor

$58.68

0.97 (1.68%)

08:29
01/22/19
01/22
08:29
01/22/19
08:29

Jefferies downgrades U.S. Steel to Hold on guidance risk

Jefferies analyst Seth Rosenfeld downgraded U.S. Steel to Hold from Buy and lowered his price target for the shares to $24 from $38. "Poor" Q4 earnings and Q1 guides will begin to reflect the extent of recent steel margin weakness, Rosenfeld tells investors in a research note. The analyst, while remaining "constructive" on the broader Steel sector, downgraded U.S. Steel to reflect guidance risk and "increasingly challenged" long-term prospects. With both U.S. and European flat steel margins drifting lower, drivers for a "meaningful recovery" at the company are "hard to identify," says the analyst. As such, he believes U.S. Steel's 2019 EBITDA guidance risks disappointing consensus expectations. Rosenfeld's top picks in the U.S. are Nucor (NUE), Commercial Metals (CMC), Steel Dynamics (STLD), Reliance Steel (RS) and Cleveland-Cliffs (CLF).

X

U.S. Steel

$21.50

0.28 (1.32%)

NUE

Nucor

$58.68

0.97 (1.68%)

CMC

Commercial Metals

$17.01

0.68 (4.16%)

STLD

Steel Dynamics

$34.32

0.72 (2.14%)

RS

Reliance Steel

$78.40

1.145 (1.48%)

CLF

Cleveland-Cliffs

$9.02

-0.03 (-0.33%)

  • 22

    Jan

  • 29

    Jan

  • 31

    Jan

  • 08

    Feb

X U.S. Steel
$21.50

0.28 (1.32%)

01/22/19
JEFF
01/22/19
DOWNGRADE
Target $24
JEFF
Hold
U.S. Steel downgraded to Hold from Buy at Jefferies
Jefferies analyst Seth Rosenfeld downgraded U.S. Steel to Hold and lowered his price target for the shares to $24 from $38.
01/18/19
LBOW
01/18/19
DOWNGRADE
LBOW
Neutral
Longbow downgrades U.S. Steel to Neutral on tubular segment risk
As previously reported, Longbow analyst Christopher Olin downgraded U.S. Steel to Neutral from Buy citing what he called "disappointing feedback" from a quarterly oil country tubular goods, or OCTG, survey. Contacts reported the first negative volume comp since the fourth quarter of 2016 and decelerating demand is evident throughout the energy channels, Olin tells investors. Meanwhile, increasing supply, from both foreign and domestic suppliers, is resulting in lower price and volume estimates, he added.
01/18/19
LBOW
01/18/19
DOWNGRADE
LBOW
Neutral
U.S. Steel downgraded to Neutral from Buy at Longbow
Longbow analyst Christopher Olin downgraded U.S. Steel to Neutral. The analyst sees risk in the company's tubular segment.
01/09/19
01/09/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. CarGurus (CARG) initiated with an Outperform at Oppenheimer. 2. Callaway Golf (ELY) and Acushnet Holdings (GOLF) were initiated with an Equal Weight at Stephens. 3. MVB Financial (MVBF) initiated with a Market Perform at Keefe Bruyette. 4. U.S. Steel (X) initiated with a Market Perform at Cowen. 5. Freeport McMoRan (FCX) initiated with a Neutral at Credit Suisse. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
NUE Nucor
$58.68

0.97 (1.68%)

10/19/18
BMOC
10/19/18
NO CHANGE
BMOC
Market Perform
Nucor price target lowered to $70 from $75 at BMO Capital
BMO Capital analyst David Gagliano lowered his price target on Nucor to $70 and kept his Market Perform rating, saying that while the company represents a "best in class steelmaker", he continues to expect Q4 to decline from the "solid" set of Q3 results reported yesterday. The analyst cites seasonality-driven lower production volumes and lower realized prices, registering sequential declines of 3% and 4% respectively. Gagliano also lowers his Q4 EBITDA view to $1.07B from $1.14B, but believes that the sector-wide "de-rating" already occurred.
01/08/19
FBCO
01/08/19
UPGRADE
FBCO
Outperform
Nucor upgraded to Outperform from Neutral at Credit Suisse
01/08/19
01/08/19
UPGRADE
Target $70

Outperform
Credit Suisse says Nucor 'oversold,' upgrades to Outperform
As previously reported, Credit Suisse analyst Curt Woodworth upgraded Nucor to Outperform from Neutral as he believes the stock is oversold relative to medium term fundamentals. While the U.S. sheet markets are weak, the long product and plate markets are very strong and account for about 60% of total volume at Nucor, he contends. Further, Woodworth argues that while Nucor's capital spending profile the next few years is high, the company will still have plenty of bandwidth to repurchase shares given Big River is off the table. The analyst also lowered his price target on the shares to $70 from $74.
01/08/19
COWN
01/08/19
INITIATION
Target $62
COWN
Outperform
Nucor initiated with an Outperform at Cowen
Cowen analyst Tyler Kenyon initiated Nucor with an Outperform and $62 price target.
CMC Commercial Metals
$17.01

0.68 (4.16%)

01/14/19
GSCO
01/14/19
UPGRADE
Target $21
GSCO
Buy
Commercial Metals upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Matthew Korn upgraded Commercial Metals to Buy with an unchanged price target of $21. The company now offers an "attractive combination of historically low valuation and a solid set of potential company-specific catalysts" over the next twelve months, Korn tells investors in a research note. He believes the company will likely see an increased pricing premium as its spooled rebar facilities in Oklahoma and Arizona ramp.
10/11/18
GHSC
10/11/18
INITIATION
Target $20
GHSC
Neutral
Commercial Metals initiated with a Neutral at Seaport Global
Seaport Global analyst Derek Hernandez initiated Commercial Metals with a Neutral and $20 price target saying domestic US capacity growth and continued long product imports are expected to be an overhang.
11/02/18
DBAB
11/02/18
NO CHANGE
DBAB
Buy
Deutsche Bank makes catalyst buy call on Commercial Metals
Deutsche Bank analyst Chris Terry puts a catalyst call buy on Commercial Metals as a short-term investment idea. The overall steel sector has sold off since mid-year, and within the steel sector, Commercial Metals is inexpensive at current levels, Terry tells investors in a research note. He believes the company is well positioned with exposure to favorable end-markets and the potential for a turnaround in its fabrication business.
01/08/19
COWN
01/08/19
INITIATION
Target $17
COWN
Market Perform
Commercial Metals initiated with a Market Perform at Cowen
Cowen analyst Tyler Kenyon initiated Commercial Metals with a Market Perform and $17 price target.
STLD Steel Dynamics
$34.32

0.72 (2.14%)

10/19/18
BMOC
10/19/18
NO CHANGE
Target $53
BMOC
Outperform
Steel Dynamics price target lowered to $53 from $60 at BMO Capital
BMO Capital analyst David Gagliano lowered his price target on Steel Dynamics to $53 after its in-line Q3 results, noting that Q4 should decline sequentially due to lower prices and seasonally lower volumes. The analyst also keeps his Outperform rating longer term, maintaining his view that the company is "well positioned to benefit from a higher for longer steel pricing cycle".
01/08/19
FBCO
01/08/19
UPGRADE
FBCO
Outperform
Steel Dynamics upgraded to Outperform from Neutral at Credit Suisse
01/08/19
01/08/19
UPGRADE
Target $43

Outperform
Steel Dynamics upgraded to Outperform on valuation at Credit Suisse
As previously reported, Credit Suisse analyst Curt Woodworth upgraded Steel Dynamics to Outperform from Neutral on valuation and near-term bottom in HRC prices. The analyst also lowered his price target on the shares to $43 from $51.
01/08/19
COWN
01/08/19
INITIATION
Target $32
COWN
Market Perform
Steel Dynamics initiated with a Market Perform at Cowen
Cowen analyst Tyler Kenyon initiated Steel Dynamics with a Market Perform and $32 price target.
RS Reliance Steel
$78.40

1.145 (1.48%)

01/08/19
COWN
01/08/19
INITIATION
Target $80
COWN
Outperform
Reliance Steel initiated with an Outperform at Cowen
Cowen analyst Tyler Kenyon initiated Reliance Steel with an Outperform and $80 price target.
10/22/18
10/22/18
DOWNGRADE

Neutral
Reliance Steel downgraded to Neutral at Longbow
As previously reported, Longbow downgraded Reliance Steel to Neutral from Buy. Analyst Chris Olin lowered estimates to reflect near-term risks from unfavorable nonferrous demand/price momentum following a collection of relatively weak data points from the firm's carbon and stainless steel surveys. Reduced visibility into top-line growth and margin potential have led to Olin lowered estimates in-line with consensus saying he would wait for market stabilization.
10/22/18
10/22/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. eBay (EBAY) downgraded to Neutral from Buy at Monness Crespi and BofA/Merrill. 2. Bristol-Myers (BMY) downgraded to Neutral from Buy at Citi. 3. Manpower (MAN) downgraded to Neutral from Overweight at JPMorgan with analyst Andrew Steinerman saying he "misjudged the magnitude" of the European softness for the company as its Q4 financial guidance suggests a down 2% year-over-year same day basis revenue decline. 4. Reliance Steel (RS) downgraded to Neutral from Buy at Longbow with analyst Chris Olin citing near-term risks from unfavorable nonferrous demand/price momentum following a collection of relatively weak data points from the firm's carbon and stainless steel surveys. 5. Wingstop (WING) downgraded to Neutral from Outperform at Wedbush with analyst Nick Setyan saying he continues to believe drivers of same-store sales growth, unit growth, and margin upside relative to current consensus 2018 and 2019 estimates exist. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/13/18
BOFA
12/13/18
UPGRADE
BOFA
Neutral
Reliance Steel upgraded to Neutral from Underperform at BofA/Merrill
BofA/Merrill analyst Timna Tanners upgraded Reliance Steel to Neutral and raised its price target to $84 from $83 citing the selloff in shares and defensive countercyclical cash flows.
CLF Cleveland-Cliffs
$9.02

-0.03 (-0.33%)

01/08/19
COWN
01/08/19
INITIATION
Target $8.5
COWN
Market Perform
Cleveland-Cliffs initiated with a Market Perform at Cowen
Cowen analyst Tyler Kenyon initiated Cleveland-Cliffs with a Neutral and $8.50 price target.
12/13/18
RILY
12/13/18
NO CHANGE
Target $14
RILY
Buy
Cleveland-Cliffs recent pullback a buying opportunity, says B. Riley FBR
B. Riley FBR analyst Lucas Pipes says the "noise" around pellet premiums has created a buying opportunity in shares of Cleveland-Cliffs. He lowered his price target for the shares to $14 from $15 and reiterates a Buy rating on the name.
10/23/18
VERF
10/23/18
NO CHANGE
Target $5.13
VERF
Sell
Vertical sees Cleveland-Cliffs shares heading to near $5 amid excessive supply
In a research note titled "Does the US Steel Industry Supply/Demand Backdrop Suggest CLF is Nearing the 'Cliff'?," Vertical Group analyst Gordon Johnson maintains a Sell rating on shares of Cleveland-Cliffs. The analyst believes "excess" supply is ramping into a "late cycle" U.S. steel market. Growth for sheet products in Q2 went negative at down 1.6% year-over-year, a "sharp deceleration" from the trailing four quarter average of 5.1% year-over-year growth, Johnson writes to investors. In addition, with 10-year U.S. treasury rates at levels not seen since 2011, continued headwinds to both auto and construction demand in the U.S. is likely, the analyst contends. Lastly, he points out that after peaking on July 12, U.S. hot rolled coil spot prices have dropped 8.9% in just over three months. Steel investors have historically reacted "rather negatively to late cycle irrational capacity ramps," Johnson cautions. He has a 12-month price target of $5.13 for shares of Cleveland-Cliffs. The stock in morning trading is down 4%, or 47c, to $10.87.
10/22/18
JEFF
10/22/18
NO CHANGE
Target $14
JEFF
Buy
Cleveland-Cliffs dividend growth potential underappreciated, says Jefferies
Cleveland-Cliffs' dividend restart last week marks a turning point for the business from being a highly-indebted growth company to an "emerging cash cow" in the metals sector, Jefferies analyst Seth Rosenfeld tells investors in a research note. He believes the company's potential for further dividend growth remains underappreciated. He believes that with "one major catalyst now passed," attention turns to 2019 pellet contract prices. And rising pellet contract prices could drive consensus estimate upside in the coming months, contends Rosenfeld. He reiterates a Buy rating on Cleveland-Cliffs with a $14 price target.

TODAY'S FREE FLY STORIES

CUK

Carnival plc

$52.15

-3.54 (-6.36%)

10:00
03/26/19
03/26
10:00
03/26/19
10:00
Hot Stocks
Carnival plc falls -6.2% »

Carnival plc is down…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Mar

DWT

Britannia Bulk

$6.68

-0.46 (-6.44%)

10:00
03/26/19
03/26
10:00
03/26/19
10:00
Hot Stocks
Britannia Bulk falls -6.5% »

Britannia Bulk is down…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

UVXY

ProShares Trust Ultra VIX Short Term Futures ETF

$41.58

-3.26 (-7.27%)

10:00
03/26/19
03/26
10:00
03/26/19
10:00
Hot Stocks
ProShares Trust Ultra VIX Short Term Futures ETF falls -7.3% »

ProShares Trust Ultra VIX…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

CRC

California Resources

$26.39

1.91 (7.80%)

10:00
03/26/19
03/26
10:00
03/26/19
10:00
Hot Stocks
California Resources rises 7.2% »

California Resources is…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 08

    Apr

BBBY

Bed Bath & Beyond

$17.82

3.95 (28.48%)

10:00
03/26/19
03/26
10:00
03/26/19
10:00
Options
Active trading in Bed, Bath and Beyond options as shares rally »

Active trading in Bed,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 10

    Apr

KEG

Key Energy

$4.48

0.59 (15.17%)

10:00
03/26/19
03/26
10:00
03/26/19
10:00
Hot Stocks
Key Energy rises 15.7% »

Key Energy is up 15.7%,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    May

IO

ION Geophysical

$13.84

0.25 (1.84%)

10:00
03/26/19
03/26
10:00
03/26/19
10:00
Hot Stocks
ION Geophysical rises 7.7% »

ION Geophysical is up…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

JNJ

Johnson & Johnson

$137.77

1.13 (0.83%)

09:55
03/26/19
03/26
09:55
03/26/19
09:55
Hot Stocks
Janssen submits sBLA for daratumumab combination therapy to FDA »

Janssen Pharmaceutical of…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 16

    Apr

  • 25

    Apr

WAB

Wabtec

$70.62

0.62 (0.89%)

09:55
03/26/19
03/26
09:55
03/26/19
09:55
Options
Wabtec put volume heavy and directionally bearish »

Bearish flow noted in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

BBBY

Bed Bath & Beyond

$17.74

3.87 (27.90%)

, DO

Diamond Offshore

$10.69

0.39 (3.79%)

09:55
03/26/19
03/26
09:55
03/26/19
09:55
Options
Early notable gainers among liquid option names on March 26th »

Notable gainers among…

BBBY

Bed Bath & Beyond

$17.74

3.87 (27.90%)

DO

Diamond Offshore

$10.69

0.39 (3.79%)

VIAB

Viacom

$27.08

0.75 (2.85%)

RIG

Transocean

$9.27

0.44 (4.98%)

NVDA

Nvidia

$181.50

7.695 (4.43%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 10

    Apr

  • 22

    May

DWDP

DowDuPont

$53.96

0.7 (1.31%)

09:55
03/26/19
03/26
09:55
03/26/19
09:55
Conference/Events
House Science, Space & Technology to hold a hearing »

The Subcommittee on…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Mar

  • 28

    May

09:51
03/26/19
03/26
09:51
03/26/19
09:51
Conference/Events
House Financial Services Committee to hold a markup »

The Committee holds a…

09:50
03/26/19
03/26
09:50
03/26/19
09:50
General news
U.S. Richmond Fed index preview: »

U.S. Richmond Fed index…

SQ

Square

$74.65

0.12 (0.16%)

09:49
03/26/19
03/26
09:49
03/26/19
09:49
Recommendations
Square analyst commentary  »

Opposition to Square ILC…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

GOOG

Alphabet

$1,199.98

7.26 (0.61%)

, GOOGL

Alphabet Class A

$1,204.92

7.79 (0.65%)

09:47
03/26/19
03/26
09:47
03/26/19
09:47
Periodicals
Google's Local Experiments Project looks to bolster community news, Axios says »

Google (GOOG, GOOGL) is…

GOOG

Alphabet

$1,199.98

7.26 (0.61%)

GOOGL

Alphabet Class A

$1,204.92

7.79 (0.65%)

MNI

McClatchy

$5.01

(0.00%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Mar

  • 04

    Apr

  • 29

    Apr

  • 29

    Apr

  • 27

    Oct

UVXY

ProShares Trust Ultra VIX Short Term Futures ETF

$41.92

-2.92 (-6.51%)

09:47
03/26/19
03/26
09:47
03/26/19
09:47
Hot Stocks
ProShares Trust Ultra VIX Short Term Futures ETF falls -6.5% »

ProShares Trust Ultra VIX…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

DWT

Britannia Bulk

$6.70

-0.44 (-6.16%)

09:47
03/26/19
03/26
09:47
03/26/19
09:47
Hot Stocks
Britannia Bulk falls -6.4% »

Britannia Bulk is down…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

CUK

Carnival plc

$51.67

-4.02 (-7.22%)

09:47
03/26/19
03/26
09:47
03/26/19
09:47
Hot Stocks
Carnival plc falls -6.6% »

Carnival plc is down…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Mar

BBW

Build-A-Bear

$5.86

0.22 (3.90%)

09:47
03/26/19
03/26
09:47
03/26/19
09:47
Hot Stocks
Build-A-Bear rises 4.1% »

Build-A-Bear is up 4.1%,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

UCO

Universal Compression

$21.55

0.86 (4.16%)

09:47
03/26/19
03/26
09:47
03/26/19
09:47
Hot Stocks
Universal Compression rises 4.2% »

Universal Compression is…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

CRC

California Resources

$25.64

1.16 (4.74%)

09:47
03/26/19
03/26
09:47
03/26/19
09:47
Hot Stocks
California Resources rises 4.6% »

California Resources is…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 08

    Apr

09:45
03/26/19
03/26
09:45
03/26/19
09:45
General news
U.S. consumer confidence preview: »

U.S. consumer confidence…

09:45
03/26/19
03/26
09:45
03/26/19
09:45
General news
Consumer Confidence to be reported at 10:00 »

March Consumer Confidence…

09:45
03/26/19
03/26
09:45
03/26/19
09:45
General news
Richmond Fed Manufacturing Index Level to be reported at 10:00 »

March Richmond Fed…

MDSO

Medidata

$75.89

(0.00%)

09:44
03/26/19
03/26
09:44
03/26/19
09:44
Hot Stocks
Breaking Hot Stocks news story on Medidata »

Medidata mentioned…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.