Breaking News Instant updates and real-time market news.

AKS

AK Steel

$2.44

-0.07 (-2.79%)

, MT

ArcelorMittal

$14.34

-0.415 (-2.81%)

16:01
10/14/19
10/14
16:01
10/14/19
16:01

Trump says steel tariffs on Turkey to be raised back up to 50%

President Trump announced that he will soon be issuing an Executive Order authorizing the imposition of sanctions against current and former officials of the Government of Turkey. Steel tariffs will be increased back up to 50%, the level prior to reduction in May, the statement from the White House reads. Publicly traded companies in the steel space include AK Steel (AKS), ArcelorMittal (MT), Nucor (NUE), Steel Dynamics (STLD), TimkenSteel (TMST) and U.S. Steel (X). Reference Link

AKS

AK Steel

$2.44

-0.07 (-2.79%)

MT

ArcelorMittal

$14.34

-0.415 (-2.81%)

NUE

Nucor

$51.61

-1.08 (-2.05%)

STLD

Steel Dynamics

$29.55

-0.82 (-2.70%)

X

U.S. Steel

$11.14

-0.2 (-1.76%)

TMST

TimkenSteel

$5.71

-0.115 (-1.98%)

  • 17

    Oct

  • 22

    Oct

  • 31

    Oct

AKS AK Steel
$2.44

-0.07 (-2.79%)

09/23/19
JPMS
09/23/19
DOWNGRADE
JPMS
Underweight
AK Steel downgraded to Underweight from Overweight at JPMorgan
JPMorgan analyst Michael Gambardella double downgraded AK Steel to Underweight from Overweight.
06/26/19
JEFF
06/26/19
NO CHANGE
JEFF
Nucor flat rolled price increase likely to help sentiment, says Jefferies
After Nucor (NUE) announced a $40/t flat rolled price increase yesterday, which was the first increase since February, Jefferies analyst Martin Englert said he thinks peers are likely to follow. While the increase may not immediately raise prices, it is a move in the right direction that aids more positive sector sentiment, Englert tell investors. The analyst, who advises investors to increase exposure to steel stocks, names Nucor, Steel Dynamics (STLD), Cleveland-Cliffs (CLF) and Commercial Metals (CMC) as his top U.S. picks Other publicly traded companies in the steel space include AK Steel (AKS), ArcelorMittal (MT), TimkenSteel (TMST) and U.S. Steel (X).
09/23/19
JPMS
09/23/19
DOWNGRADE
JPMS
Underweight
JPMorgan double downgrades AK Steel, cuts U.S. Steel on flattish price outlook
JPMorgan analyst Michael Gambardella earlier today lowered his estimates and price targets for the steel companies to reflect a "more flattish" steel price environment. The analyst also double downgraded AK Steel (AKS) to Underweight from Overweight and downgraded U.S. Steel (X) to Neutral Overweight. He removed U.S. Steel from his firm's Analyst Focus List. The U.S. steel stocks and steel prices have been under pressure this year, which is largely due to concerns about supply additions planned for the next several years, continued uncertainty surrounding trade, and some softening in demand, Gambardella tells investors in a research note. Further, after a brief rebound, steel and scrap prices are now heading lower, adds the analyst. He kept Overweight ratings on Commercial Metals (CMC), Nucor (NUE), Steel Dynamics (STLD), and Stelco Holdings (STZHF).
09/23/19
09/23/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Alcoa (AA) downgraded to Neutral from Buy at Goldman Sachs. 2. Commercial Metals (CMC) was downgraded to Neutral from Buy at Goldman Sachs while Schnitzer Steel (SCHN) was downgraded to Sell from Neutral. 3. AK Steel (AKS) was downgraded to Underweight from Overweight at JPMorgan while Cleveland-Cliffs (CLF) and U.S. Steel (X) were downgraded to Neutral from Overweight. 4. Clorox (CLX) downgraded to Underweight from Equal Weight at Barclays. 5. Spirit Airlines (SAVE) downgraded to Equal Weight from Overweight at Stephens with analyst Jack Atkins saying with its heavy Southeast and Caribbean exposure, Spirit significantly lowered its Q3 guidance in early September due to Hurricane Dorian. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
MT ArcelorMittal
$14.34

-0.415 (-2.81%)

09/03/19
FBCO
09/03/19
INITIATION
Target $29
FBCO
Outperform
ArcelorMittal initiated with an Outperform at Credit Suisse
Credit Suisse analyst Carsten Riek started ArcelorMittal with an Outperform rating and $29 price target.
06/12/19
GSCO
06/12/19
UPGRADE
GSCO
Buy
ArcelorMittal upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Eugene King upgraded ArcelorMittal to Buy from Neutral with a price target of EUR 19.50. While the European steel market "remains tough," share prices have gone below intrinsic valuations given the market conditions, King tells investors in a research note. The analyst believes the combination of capacity cuts led by ArcelorMittal, a potential review of the European Commission's safeguarding measures by August, the lack of balance sheet "stress" and iron ore price moderation will drive improved outlook for European Steels in the second half of 2019.
10/07/19
DBAB
10/07/19
NO CHANGE
Target $18
DBAB
Buy
ArcelorMittal price target lowered to $18 from $25 at Deutsche Bank
Deutsche Bank analyst Bastian Synagowitz lowered his price target for ArcelorMittal to $18 from $25 and keeps a Buy rating on the shares ahead of the company's Q3 results. The analyst expects a "soft" quarter, saying "weak" margins will hit the profit line while volumes will be impacted by both seasonality and weak demand.
NUE Nucor
$51.61

-1.08 (-2.05%)

05/31/19
BOFA
05/31/19
DOWNGRADE
Target $50
BOFA
Underperform
Nucor downgraded to Underperform from Buy at BofA/Merrill
BofA Merrill Lynch analyst Timna Tanners double downgraded Nucor, to Underperform from Buy, to incorporate a lower near-term forecast for prices, especially for sheet and rebar, and a lower 2021-2022 forecast given expectations for a looming glut in steel. Nucor produces three of the products that Tanners thinks will be most hurt by new supply: sheet, rebar, and plate. The analyst lowered the price target on Nucor shares to $50 from $68.
05/31/19
05/31/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Mallinckrodt (MNK) downgraded to Neutral from Overweight at Piper Jaffray with analyst David Amsellem stating last week's developments regarding Acthar in the Medicaid setting, along with as much as a $600M Centers for Medicare & Medicaid Services-related liability, "essentially blew" his prior investment thesis to "smithereens." 2. Nucor (NUE) downgraded to Underperform from Buy at BofA/Merrill with analyst Timna Tanners incorporating a lower near-term forecast for prices, especially for sheet and rebar, and a lower 2021-2022 forecast given expectations for a looming glut in steel. 3. J.Jill (JILL) downgraded to Hold from Buy at Deutsche Bank with analyst Lorraine Hutchinson stating that she expects the stock's multiple to contract due to the company's slower growth. 4. Nutanix (NTNX) downgraded to Neutral from Overweight at Piper Jaffray with analyst Andrew Nowinski citing the company's "continued execution issues," which he attributes partially to increasing competition. 5. Zuora (ZUO) downgraded to Buy from Strong Buy at Needham with analyst Scott Berg saying that the stock could be "dead money" for the next 1-2 quarters, noting that the sales issues are more concerning than the product issues and may require a change in sales leadership. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
STLD Steel Dynamics
$29.55

-0.82 (-2.70%)

08/26/19
08/26/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Foot Locker (FL) downgraded to Neutral from Outperform at Baird and to Neutral from Positive at Susquehanna. 2. Steel Dynamics (STLD) downgraded to Neutral from Buy at Longbow with analyst Christopher Olin saying his confidence in the Steel Mill segment's ability to meet or beat expectations in the second half of 2019 is eroding. 3. Abraxas Petroleum (AXAS) downgraded to Neutral from Buy at Ladenburg with analyst Michael Schmitz saying reduced estimated free cash flow resulting from lower projected commodity prices, combined with uncertainty resulting from the escalation of the trade war, will be additional headwinds for the Exploration and Production group. 4. Elanco (ELAN) downgraded to Neutral from Buy at BofA/Merrill with analyst Michael Ryskin saying while the acquisition of Bayer's (BAYRY) Animal Health business could turn out positive in the longer term, there is too much uncertainty in the near-term, including which parts of the portfolio will be divested due to antitrust issues. 5. Cree (CREE) downgraded to Underweight from Neutral at Piper Jaffray with analyst Harsh Kumar reducing his estimates reducing to reflect broader weakness in the LED market and the impact of Huawei on the Cree's Wolfspeed business. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/05/19
BMOC
09/05/19
DOWNGRADE
Target $30
BMOC
Market Perform
Steel Dynamics downgraded to Market Perform from Outperform at BMO Capital
BMO Capital analyst David Gagliano downgraded Steel Dynamics (STLD) to Market Perform from Outperform and lowered his price target for the shares to $30 from $40. The analyst, who still believes shares are undervalued on longer-term fair value estimates, finds the stock's risk/reward more balanced in the near term. There is more downside risk versus upside potential to underlying spot prices into year end, and Steel Dynamics' near-term company-specific catalysts are limited, Gagliano tells investors in a research note. He believes the company, between now and 2022, is more exposed to near-term spot steel pricing volatility. Gagliano coupled the downgrade of Steel Dynamics with an upgrade of Arch Coal (ARCH) to Outperform from Market Perform.
09/05/19
BMOC
09/05/19
DOWNGRADE
BMOC
Market Perform
Steel Dynamics downgraded to Market Perform from Outperform at BMO Capital
X U.S. Steel
$11.14

-0.2 (-1.76%)

10/02/19
BMOC
10/02/19
NO CHANGE
Target $12
BMOC
Market Perform
U.S. Steel's Big River Steel deal is 'meaningful transaction', says BMO Capital
BMO Capital analyst David Gagliano says the $700M acquisition of Big River Steel by U.S. Steel is a "meaningful transaction" in that it provides the latter with a "low operating-cost, growth asset" which positions it better over the long term. The analyst is keeping his Market Perform rating and $12 on the stock however, noting that the debt-financed deal adds even more debt to U.S. Steel, which is is also paying a "fairly high" implied valuation.
09/23/19
JPMS
09/23/19
DOWNGRADE
Target $14
JPMS
Neutral
U.S. Steel downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Michael Gambardella downgraded U.S. Steel to Neutral from Overweight and lowered his price target for the shares to $14 from $26.
TMST TimkenSteel
$5.71

-0.115 (-1.98%)

01/08/19
COWN
01/08/19
INITIATION
Target $12
COWN
Outperform
TimkenSteel initiated with an Outperform at Cowen
Cowen analyst Tyler Kenyon initiated Reliance Steel with an TimkenSteel and $12 price target.
02/26/19
02/26/19
DOWNGRADE
Target $13.5

Market Perform
TimkenSteel downgraded to Market Perform on valuation at Cowen
As previously reported, Cowen downgraded TimkenSteel to Market Perform from Outperform and raised its price target to $13.50 from $12. Analyst Tyler Kenyon views risk/reward as more balanced and said shares reflect potential appreciation of annual contract upside.
02/26/19
COWN
02/26/19
DOWNGRADE
COWN
Market Perform
TimkenSteel downgraded to Market Perform from Outperform at Cowen

TODAY'S FREE FLY STORIES

INFO

IHS Markit

$69.12

0.22 (0.32%)

15:55
11/12/19
11/12
15:55
11/12/19
15:55
Conference/Events
IHS Markit to host conference call »

Conference call to…

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

  • 12

    Nov

CUE

Cue Biopharma

$9.16

0.16 (1.78%)

15:55
11/12/19
11/12
15:55
11/12/19
15:55
Conference/Events
Cue Biopharma to host conference call »

Conference call to…

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

  • 12

    Nov

DPLO

Diplomat Pharmacy

$3.03

-3.17 (-51.13%)

15:54
11/12/19
11/12
15:54
11/12/19
15:54
Recommendations
Diplomat Pharmacy analyst commentary  »

Diplomat Pharmacy assets…

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

  • 12

    Nov

CLNY

Colony Capital

$4.99

-0.055 (-1.09%)

15:49
11/12/19
11/12
15:49
11/12/19
15:49
Hot Stocks
Digital Colony acquires Beanfield Technologies, terms not disclosed »

Digital Colony announced…

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

  • 12

    Nov

  • 10

    Dec

15:43
11/12/19
11/12
15:43
11/12/19
15:43
Conference/Events
Morgan Stanley analyst to hold an analyst/industry conference call »

Managing Director &…

ET

Energy Transfer LP

$11.80

-0.18 (-1.50%)

15:38
11/12/19
11/12
15:38
11/12/19
15:38
Periodicals
FBI opens corruption probe of approval for Mariner East pipelines, AP says »

The FBI has begun a…

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

TWOU

2U

$22.27

0.46 (2.11%)

15:34
11/12/19
11/12
15:34
11/12/19
15:34
Options
2U options imply 21.4% move in share price post-earnings »

Pre-earnings options…

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

  • 12

    Nov

AXAS

Abraxas Petroleum

$0.31

-0.0309 (-9.18%)

15:33
11/12/19
11/12
15:33
11/12/19
15:33
Hot Stocks
Abraxas Petroleum cancels Q3 earnings call scheduled for this afternoon »

Abraxas Petroleum…

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

  • 12

    Nov

15:25
11/12/19
11/12
15:25
11/12/19
15:25
General news
Treasury Market Summary »

Treasury Market Summary:…

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$308.45

0.06 (0.02%)

15:20
11/12/19
11/12
15:20
11/12/19
15:20
Periodicals
POTUS advisers exploring 15% tax rate proposal for middle class, WP says »

U.S. President Donald…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$308.45

0.06 (0.02%)

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

HUYA

Huya

$24.33

-1 (-3.95%)

15:19
11/12/19
11/12
15:19
11/12/19
15:19
Options
HUYA options imply 14.0% move in share price post-earnings »

Pre-earnings options…

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

  • 12

    Nov

  • 09

    Dec

SPY

SPDR S&P 500 ETF Trust

$308.49

0.1 (0.03%)

, SPX

S&P 500

$0.00

(0.00%)

15:18
11/12/19
11/12
15:18
11/12/19
15:18
General news
Kudlow says in 'very preliminary stages' of talks on possible tax cut proposal »

Larry Kudlow, Director of…

SPY

SPDR S&P 500 ETF Trust

$308.49

0.1 (0.03%)

SPX

S&P 500

$0.00

(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

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

15:17
11/12/19
11/12
15:17
11/12/19
15:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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

$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
11/12/19
11/12
15:16
11/12/19
15:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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

DASTY

Dassault Systemes

$0.00

(0.00%)

15:14
11/12/19
11/12
15:14
11/12/19
15:14
Conference/Events
Dassault Systemes to hold a meeting »

Life Sciences Day to be…

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

  • 13

    Nov

SYNA

Synaptics

$58.80

0.19 (0.32%)

15:13
11/12/19
11/12
15:13
11/12/19
15:13
Conference/Events
Synaptics management to meet with KeyBanc »

Meeting to be held in New…

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

  • 12

    Nov

  • 13

    Nov

SPY

SPDR S&P 500 ETF Trust

$308.41

0.02 (0.01%)

, SPX

S&P 500

$0.00

(0.00%)

15:11
11/12/19
11/12
15:11
11/12/19
15:11
General news
Kudlow says no tariff adjustments will be made unless there is trade deal »

Larry Kudlow, Director of…

SPY

SPDR S&P 500 ETF Trust

$308.41

0.02 (0.01%)

SPX

S&P 500

$0.00

(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

AAPL

Apple

$261.59

-0.57 (-0.22%)

15:10
11/12/19
11/12
15:10
11/12/19
15:10
Periodicals
Ex-HBO chief Plepler in talks to create original content for Apple TV+, WSJ says »

According to the Wall…

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

SPY

SPDR S&P 500 ETF Trust

$308.41

0.02 (0.01%)

, SPX

S&P 500

$0.00

(0.00%)

15:08
11/12/19
11/12
15:08
11/12/19
15:08
General news
Kudlow says President's key point was trade deal must be a 'good deal' for U.S. »

Economic adviser Larry…

SPY

SPDR S&P 500 ETF Trust

$308.41

0.02 (0.01%)

SPX

S&P 500

$0.00

(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

SDC

SmileDirectClub

$11.12

-0.73 (-6.16%)

15:04
11/12/19
11/12
15:04
11/12/19
15:04
Options
SmileDirectClub options imply 23.6% move in share price post-earnings »

Pre-earnings options…

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

  • 12

    Nov

KEM

Kemet

$25.94

2.91 (12.64%)

15:02
11/12/19
11/12
15:02
11/12/19
15:02
Downgrade
Kemet rating change  »

Kemet downgraded to Hold…

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

  • 12

    Nov

TSLA

Tesla

$346.80

1.73 (0.50%)

14:55
11/12/19
11/12
14:55
11/12/19
14:55
Periodicals
Tesla CEO Musk says to build EU Gigafactory in 'Berlin area,' Bloomberg reports »

Bloomberg cites comments…

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

PCG

PG&E

$6.78

0.54 (8.65%)

14:54
11/12/19
11/12
14:54
11/12/19
14:54
Hot Stocks
PG&E announces extended deadline for filing fire claims in chapter 11 cases »

PG&E Corporation and…

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

  • 12

    Nov

  • 07

    Jan

AZUL

Azul

$35.23

-1.32 (-3.61%)

, EADSY

Airbus

$0.00

(0.00%)

14:52
11/12/19
11/12
14:52
11/12/19
14:52
Hot Stocks
Azul receives first Airbus A321neo in Brazil »

Azul (AZUL) received the…

AZUL

Azul

$35.23

-1.32 (-3.61%)

EADSY

Airbus

$0.00

(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

TKAMY

ThyssenKrupp

$0.00

(0.00%)

, BX

Blackstone

$51.89

-0.01 (-0.02%)

14:49
11/12/19
11/12
14:49
11/12/19
14:49
Periodicals
3G Capital among suitors for ThyssenKrupp's elevator unit, Bloomberg says »

Brazilian-American…

TKAMY

ThyssenKrupp

$0.00

(0.00%)

BX

Blackstone

$51.89

-0.01 (-0.02%)

CG

Carlyle Group

$27.74

0.24 (0.87%)

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.