Fly News Breaks for January 14, 2020
Jan 14, 2020 | 05:10 EDT
Goldman Sachs analyst Matthew Korn reinstated coverage of U.S. Steel with a Sell rating and $9 price target. While the eventual upside potential from the company's major strategic moves is promising, the "risks to the stock are substantial," Korn tells investors in a research note. U.S. Steel's "difficult" recent operating history implies that execution risk is not inconsequential, and its plans will require "substantial" capital, prompting negative free cash flow through 2022, contends the analyst. Further, he believes the company's financial performance is likely to face a challenging transition period through difficult market conditions over 2020.
News For X From the Last 2 Days
Feb 19, 2020 | 10:05 EST
Bullish option flow detected in US Steel with 24,620 calls trading, 4x expected, and implied vol increasing over 3 points to 53.08%. 2/28 weekly 9 calls and Feb-20 9 calls are the most active options, with total volume in those strikes near 17,400 contracts. The Put/Call Ratio is 0.13. Earnings are expected on April 30th.
Feb 18, 2020 | 07:30 EST
Notable put activity was cited Friday in US Steel (X) and Corning (GLW).