Current Estimate 0.61 0.55 2.61 1.23
7 Days Ago 0.60 0.54 2.60 1.25
30 Days Ago 0.57 0.51 2.54 1.32
60 Days Ago 0.55 0.51 2.49 1.25
90 Days Ago 0.46 0.56 2.38 1.65
Q3, Q4, '13 all higher than 90 days ago.
Sentiment: Strong Buy
The odds are much higher that the shorts are going to lose $5 after earnings. And if you listened to the CAT CEO, their mining division is down, not mining in general. He is looking for his mining division to turn around in 2014 which is based on the current positive turn in mining as it will take several good quarters to get the miners to buy equipment.
When comparing earnings, use like companies such as FCX, BTU, BHP, AA, X... all have beat the market's estimates by huge margins.
Whatever long side & short side analysts are raising CLF earnings daily.
Current Estimate 0.66 0.60 2.76 1.28
7 Days Ago 0.63 0.60 2.70 1.27
30 Days Ago 0.58 0.52 2.54 1.32
60 Days Ago 0.56 0.51 2.52 1.27
90 Days Ago 0.50 0.53 2.25 1.41
Sentiment: Strong Buy
Steel production rises by 28,000 tons in Great Lakes states
10/10 - Raw steel production in the country's Great Lakes region shot up to about 676,000 tons in the week that ended Saturday, according to an American Iron and Steel Institute estimate.
Production rose by about 28,000 tons, or about 4.3 percent from the week prior. Most of the raw steel production in the Great Lakes region takes place in Indiana and the Chicago area.
Production in the Southern District was estimated at 678,000 tons, up from 661,000 tons a week earlier.
Total domestic raw steel production last week was about 1.87 million tons, up from 1.85 million a week prior. Steelmakers made about 9.6 percent more steel last week than they did over the same period last year.
U.S. steel mills had a capacity utilization rate of 78.2 percent last week, which is up from 77.3 percent a week earlier. The capacity utilization rate had been 68.7 percent at the same time last year.
So far this year, domestic steel producers have had a capacity utilization rate of 77.2 percent, which is up from 76.8 percent during the same period in 2012.
Domestic mills have produced an estimated 74 million tons of steel this year, down 3 percent from the same period last year. The mills had made about 76.3 million tons of steel by Oct. 5, 2012.
Steel imports rose 13.9 percent in August over July. So far this year, total steel imports are 21.1 million tons, or about 9 percent less than during the same period in 2012.
Northwest Indiana Times