Wednesday | ||||
Hot Stocks
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Nucor to cease production at Nucor Steel Longview »
09:13 05/24/23 05/2409:13 05/24/2309:13
NUE
Nucor
Nucor announced that it… Nucor announced that it will reorganize the Company's plate group, including ceasing production at Nucor Steel Longview,. All Nucor Steel Longview teammates will be offered employment opportunities at other Nucor divisions. Purchased by Nucor in 2016 for approximately $29M, the mill produces heavy steel plate and has a rated annual capacity of 100,000 tons. The assets at Longview will be evaluated and deployed across Nucor's mills where appropriate. Nucor expects the phase out of production to occur in the Q3 of this year. Production will be transferred to Nucor's remaining plate mills, including its new state-of-the-art plate mill in Brandenburg, Kentucky, which began operating earlier this year. The Brandenburg mill will produce discrete, coiled, and heat-treated plate ranging from 60 to 168 inches wide, and in gauges from 3/16 of an inch to 14 inches. ShowHide Related Items >><<
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Tuesday | ||||
On The Fly
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Street Wrap: Today's Top 15 Upgrades, Downgrades, Initiations »
09:36 05/23/23 05/2309:36 05/23/2309:36
ZM
Zoom Video
Chevron
Myriad Genetics
Quanterix
CCC Intelligent Solutions
Intercept
Rain Oncology
Integra LifeSciences
Maravai Lifesciences
Wheaton Precious Metals
Steel Dynamics
Nucor
Cleveland-Cliffs
Five9
Axonics
The most talked about and… ShowHide Related Items >><<
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Initiation
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Nucor initiated with an Underweight at JPMorgan »
05:44 05/23/23 05/2305:44 05/23/2305:44
NUE
Nucor
JPMorgan analyst Bill… JPMorgan analyst Bill Peterson initiated coverage of Nucor with an Underweight rating and $130 price target. The analyst believes Nucor is one of the highest quality companies in the steel space, as illustrated by its "through-the-cycle" free cash flow generation. However, the Underweight rating reflects a view of lower steel prices and "squeezed" metal margins coinciding with weakness in non-residential construction, where the company has 55% exposure, the analyst tells investors in a research note. The firm says this should drive a correction in Nucor's recent outsized downstream earnings. ShowHide Related Items >><<
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Over a week ago | ||||
Hot Stocks
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Nuscale Power and Nucor sign MOU for nuclear reactors to power steel mills »
06:54 05/16/23 05/1606:54 05/16/2306:54
SMR
Nuscale Power
Nucor
NuScale Power (SMR) and… NuScale Power (SMR) and Nucor (NUE) have signed a Memorandum of Understanding - MOU - to explore co-locating NuScale's VOYGR small modular nuclear reactor power plants to provide clean, reliable baseload electricity to Nucor's scrap-based Electric Arc Furnace steel mills. The companies will also explore an expanded manufacturing partnership through which Nucor would supply Econiq, its net-zero steel products, for NuScale projects. As part of the MOU, the companies will evaluate site suitability, transmission interconnection capabilities and capital costs for potential NuScale plants to be sited near and provide carbon free electricity to Nucor EAF steel mills. In addition, NuScale will study the feasibility of siting a manufacturing facility for NuScale Power Modules near a Nucor facility. The agreement strengthens NuScale's partnership with Nucor, which invested $15M in NuScale in 2022. ShowHide Related Items >><<
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Hot Stocks
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Treasury ties domestically produced steel to IRA tax credit »
10:35 05/12/23 05/1210:35 05/12/2310:35
AKS
AK Steel
ArcelorMittal
Nucor
Steel Dynamics
U.S. Steel
TimkenSteel
The Department of the… The Department of the Treasury and Internal Revenue Service released guidance that provides information about the domestic content bonus under the Inflation Reduction Act for clean energy projects and facilities that meet American manufacturing and sourcing requirements. Under the Production Tax Credit, facilities that meet domestic content requirements receive a 10% bonus. Under the Investment Tax Credit, projects that meet the domestic content requirement receive up to a 10-percentage point bonus. Projects are eligible for the full value of the bonus only if they meet the domestic content requirement and one of the following requirements: the project has a maximum net output of less than 1 megawatt of energy, construction of the project began before January 29, 2023, or the project satisfies the Inflation Reduction Act's prevailing wage and apprenticeship requirements. The domestic content bonus applies to facilities built using the required amounts of domestically produced steel, iron, and manufactured products. To receive the bonus, all steel and iron manufacturing processes must take place in the United States. A statutorily required minimum percentage of the costs of the manufactured products and components of manufactured products that comprise a facility must come from products and components that were mined, produced, or manufactured in the United States, Treasury said in its statement. 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). ShowHide Related Items >><<
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Hot Stocks
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Nucor approves repurchase of up to $4B in company shares »
10:32 05/11/23 05/1110:32 05/11/2310:32
NUE
Nucor
The board of directors of… The board of directors of Nucor has approved the repurchase of up to $4.0B of the company's outstanding common stock. This new authorization replaces the previously authorized $4.0B repurchase program, which was terminated by the board of directors in connection with the approval of the new authorization, under which approximately $3.79B of the company's common stock had been repurchased since its authorization in December 2021. "The company expects share repurchases will be made from time to time in the open market at prevailing market prices or through private transactions or block trades. The timing and amount of repurchases will depend on market conditions, share price, applicable legal requirements and other factors. The new share repurchase authorization is discretionary and has no expiration date," Nucor stated. ShowHide Related Items >><<
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Recommendations
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Nucor price target lowered to $140 from $145 at UBS »
09:05 05/05/23 05/0509:05 05/05/2309:05
NUE
Nucor
UBS lowered the… UBS lowered the firm's price target on Nucor to $140 from $145 and keeps a Neutral rating on the shares. ShowHide Related Items >><<
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Over a month ago | ||||
Hot Stocks
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Nucor CEO: Nucor's future has never been brighter »
18:22 04/20/23 04/2018:22 04/20/2318:22
NUE
Nucor
In an interview on… In an interview on CNBC's Mad Money, Leon Topalian said the company is coming off a record 2022 and continued to perform in Q1. He expects dividends and share repurchases will continue "well into the future." Nucor is the most diversified steelmaker in the nation and it's investing in non-cyclical companies, he noted. He expects the size of the company to double in five years. ShowHide Related Items >><<
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Options
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Unusually active option classes on open April 20th »
09:40 04/20/23 04/2009:40 04/20/2309:40
NYCB
New York Community Bancorp
AT&T
Luminar
Nucor
TSMC
American Express
Nokia
Ford
Halliburton
Verizon
Unusual total active… Unusual total active option classes on open include: New York Community Bancorp (NYCB), AT&T (T), Luminar Technologies (LAZR), Nucor (NUE), Taiwan Semi (TSM), American Express (AXP), Nokia (NOK), Ford (F), Halliburton (HAL), and Verizon (VZ). ShowHide Related Items >><<
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Hot Stocks
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Johnson Controls launches partnership with Nucor »
08:02 04/20/23 04/2008:02 04/20/2308:02
JCI
Johnson Controls
Nucor
Johnson Controls (JCI)… Johnson Controls (JCI) announced the launch of a program for recycling steel, through a collaboration with Nucor (NUE). Over 70% of Johnson Controls steel purchases in the US and 45% globally are manufactured from recycled scrap materials. The program with Nucor will recycle nearly 100% of that secondary scrap steel again, amounting to thousands of tons each year, at major Johnson Controls manufacturing sites in the US. Nucor will remelt the scrap steel using electric arc furnace technology, which generates approximately 75% less emissions than traditional blast furnace manufacturing. The remelted steel will be sold back to Johnson Controls for use in manufacturing. This closed-loop recycling process is a highly efficient form of circularity that is especially well suited to metals like steel, which retain their robust material structures through multiple rounds of recycling and repurposing. ShowHide Related Items >><<
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