Companhia Siderurgica Nacional's (SID) third-quarter 2017 net earnings grew significantly over the year-ago quarter loss. Slab production grew 25% year over year while steel sales volume jumped 9%.
A Company's First Profit Can Mean Big Profits to Investors
TimkenSteel (TMST) was a big mover last session, as the company saw its shares rise nearly 9% on the day.
Century Aluminum Company (CENX) was a big mover last session, as the company saw its shares rise over 14% on the day.
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.
President Donald Trump is expected to sign an executive order as early as Thursday directing the Commerce Department to investigate whether steel imports into the U.S. should be blocked on national security grounds, according to sources familiar with the plan. A number of steel industry executives have been invited to the White House for an event with Commerce Secretary Wilbur Ross. Representatives from ArcelorMittal, Nucor, U.S. Steel, AK Steel and Timken are expected, along with the president of the United Steelworkers union. China’s excess capacity to produce steel is seen as a long-term threat to the U.S. steel industry’s viability, but it’s unclear if the order will single out any country or be global in scope. The proposed order would direct Ross to launch an investigation under a provision of U.S. trade law that requires the Commerce secretary to report to the president within 270 days whether a certain product is being imported in sufficient quantities or under such circumstances that it threatens to impair national security.The White House did not respond to a request for comment. The president then has another 90 days to decide whether to “adjust" imports or take some other non-trade related action. The United States imported about 30 million metric tons of steel in 2016, down from 35 million in 2015, for use in a variety of sectors including buildings, bridges, water and sewage plants and oil and natural gas production. Major foreign suppliers include Canada, Brazil, South Korea, Mexico, Japan and Germany. China is relatively far down on the list because of a number of U.S. countervailing and anti-dumping duty orders already in place on its exports.
TriMas Corporation (TRS) has closed a manufacturing plant in U.K. and cease production at a plant located in Mexico.
TriMas (TRS) fourth-quarter 2016 earnings came in line with the Zacks Consensus Estimate.
Hyster-Yale Materials Handling, Inc.'s (HY) Q4 earnings missed the Zacks Consensus Estimate and also declined on a year over year basis.
Shares of Avery Dennison Corporation (AVY) scaled a new 52-week high of $81.27 on Feb 27.
Top Ranked Momentum Stocks to Buy for February 22nd
The wealthy governor is increasingly likely to take on Democrat Bill Nelson in what would be a marquee matchup.
President Donald Trump’s team is inserting itself into a local battle for state party chair — the second time it has done so in just a matter of weeks.On Thursday, two of Trump’s top advisers, chief of staff Reince Priebus and chief strategist Steve Bannon, wrote a letter announcing their support of Ron Weiser, a major GOP donor who is running for Michigan Republican Party chairman.“Our task now is to keep Michigan a red state, and Ron Weiser is the right choice to lead that charge as Chairman of the Michigan Republican Party,” Priebus and Bannon wrote in the letter, which was addressed to members of the state GOP, who hold the chair election next month. The letter was first reported by The Detroit News. Trump has shown little reluctance to play political hardball in the kind of local races that typically don't capture the attention of presidents. Earlier this month, he personally made phone calls to Ohio party officials in an effort to voice his support for Jane Timken, a Trump supporter who successfully ousted state GOP chair Matt Borges. Trump’s inner circle viewed Borges, who had been critical of Trump during the 2016 campaign, as disloyal. What makes the Michigan move particularly striking is that Weiser is running against Scott Hagerstrom, who directed Trump’s successful Michigan campaign. Priebus and Bannon do not address Hagerstrom by name in the letter, choosing only to lavish praise on Weiser, who has held the Michigan GOP chairmanship before and is now looking to reclaim it. Weiser was supportive of Trump’s 2016 bid and was one of his top fundraisers.Weiser and Hagerstrom are running to replace Ronna Romney McDaniel, who this week replaced Priebus as Republican National Committee chair.