15.62 0.00 (0.00%)
After hours: 7:07PM EDT
|Bid||15.62 x 4000|
|Ask||15.69 x 1100|
|Day's Range||15.47 - 15.87|
|52 Week Range||11.67 - 38.89|
|Beta (3Y Monthly)||2.76|
|PE Ratio (TTM)||2.41|
|Earnings Date||Aug 1, 2019|
|Forward Dividend & Yield||0.20 (1.30%)|
|1y Target Est||15.63|
In the latest trading session, United States Steel (X) closed at $15.62, marking a +1.56% move from the previous day.
United States Steel Corp's factory in Slovakia will lay off 2,500 people, or around a fifth of its workforce, by the end of 2021 as it tries to compete with a glut of cheap steel imports from non-EU countries, it said on Friday. "We are taking this decision after careful consideration...to protect our business and remain competitive," U.S. Steel Kosice's president James Bruno said in a statement. The layoffs will be a blow to the Kosice region in the east of Slovakia, where unemployment is higher than the national average at 7.8%.
The current uptrend in prices isn't exactly due to President Trump’s tariffs. US steel companies look serious about supply discipline.
U.S. stock futures are heading for a sleepy open.Source: Shutterstock Ahead of the bell, futures on the Dow Jones Industrial Average are up 0.01%, and S&P 500 futures are higher by 0.02%. Nasdaq-100 futures have added 0.09%.In the options pits, call volume made a comeback despite stocks slipping for the first time in six sessions. Overall volume settled near average levels with about 17.6 million calls and 13.5 million puts changing hands.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMeanwhile, over at the CBOE, the distance between puts and calls narrowed, driving the single-session equity put/call volume ratio up to 0.62 -- a one-week high. The 10-day moving average drifted sideways at 0.60.Options traders loved these three companies yesterday: United Airlines (NYSE:UAL), Roku (NASDAQ:ROKU) and United States Steel (NYSE:X). Let's take a closer look: United Airlines (UAL)United Airlines shares took flight yesterday ahead of last night's earnings release. The 2.85% ramp delivered a robust breakout just in time for the unveiling of their second-quarter profits. For the three months, UAL scored adjusted earnings of $4.21 per share on revenue of $11.4 billion. Analysts were calling for earnings of $4.09 on $11.36 billion in revenue. * 10 Monthly Dividend Stocks to Buy to Pay the Bills UAL stock is trading up just shy of 1% premarket following the release.With its price trend now cruising strongly above rising 20-day and 50-day moving averages, and with it having finally departed its 2019 trading range, the future looks bright for the company's shares. Consider $100 the next upside target.On the options trading front, calls and puts proved equally popular ahead of last night's report. Total activity rocketed to 724% of the average daily volume, with 100,995 contracts traded. Puts barely edged out calls to claim 51% of the day's take.Premiums were pricing in a move of $4.10 post-earnings, so the 50 cent pop this morning is well within expectations. Look for volatility sellers to score a big win at the open. Roku (ROKU)Roku's bid for the market's hottest stock continued in earnest Tuesday with its shares rocketing 7.3% higher to a new record. The culprit for the latest round of its ongoing buying binge was Amazon's (NASDAQ:AMZN) Prime Day, which saw strong sales of televisions equipped with Roku technology as well as Roku streaming devices.The meteoric rise in ROKU stock this year has been a sight to behold. It's now up 265% year-to-date and is followed by momentum traders across the land.On the options trading front, traders came after calls with a vengeance. Activity swelled to 296% of the average daily volume, with 214,010 total contracts traded; 63% of the trading came from call options alone.Implied volatility rallied to 84%, placing it at the 66th percentile of its one-year range. Premiums are baking in daily moves of $5.93 or 5.3%. United States Steel (X)Steel stocks were percolating yesterday, and United States Steel was one of the best performers. X stock rallied 3.6% and is up another 0.73% premarket. The news was light, so I'm chalking the rally up to rotation into the beaten-down sector. Time will tell if it's a one-off or the start of a more sustained recovery.The climb does put an exclamation point on the stock's recent higher swing low. With the follow-through, X shares now sit above the 50-day and 20-day moving averages and are signaling a bottom could be in for the trend. For now, at least. We've seen many such reversal attempts fail in the past.Nonetheless, as long as support at $13.15 holds, buyers hold the upper hand.On the options trading front, calls were the hot ticket all day long. Activity grew to 186% of the average daily volume, with 105,832 total contracts traded. Calls accounted for 73% of the session's sum.Implied volatility ticked up to 60% or the 65th percentile of its one-year range. Premiums are now baking in daily moves of 57 cents or 3.8%, so adjust your expectations accordingly.As of this writing, Tyler Craig didn't hold a position in any of the aforementioned securities. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip * 7 Services Stocks to Buy for the Rest of 2019 * 6 Stocks to Buy and 1 to Sell Based on Insider Trading The post Wednesday's Vital Data: United Airlines, Roku and United States Steel appeared first on InvestorPlace.
Signs of a decelerating US economy are showing up on the nation’s railways, as the carriers of bulk goods from coal to steel report falling freight volumes. An index of the biggest US railway stocks fell more than 7 per cent on Wednesday after a gloomy business prognosis from CSX, whose 21,000-mile network runs east of the Mississippi river. The company predicted a 1-2 per cent decline in revenue this year, abandoning a previous forecast for growth, as its boss outlined a “slow, lazy, malaise-type drift down”.
U.S. Steel denied the allegations that it had violated the rules and regulations of the Allegheny County Health Department.
U.S. Steel, AK Steel and other metals firms extend rally after Trump boosts 'Buy American' rules for federal projects.
Trump is reportedly planning to increase the content of US-made steel in federal projects, which would be a lifeline for US steel companies.
Though eBay is entirely free to use for buyers, the $36 billion company generates significant revenue from its sellers and through advertisements.
PITTSBURGH, July 12, 2019 -- United States Steel Corporation (NYSE: X) announced today that stockholders, investors and others may listen to the company’s second quarter 2019.
On Friday, China released its June trade data. Its steel capacity and steel exports have been a challenge for the global industry.
According to S&P; Global Platts, Nucor (NUE) announced a price increase of $40 per short ton. The price hike will be applicable immediately.
U.S. stock futures are trading lower this morning as Wall Street gears up for a speech from Federal Reserve Chairman Jerome Powell on Wednesday before the House Financial Services Committee.Ahead of the bell, futures on the Dow Jones Industrial Average are down 0.38%, and S&P 500 futures are lower by 0.34%. Nasdaq-100 futures have shed 0.34%.In the options pits, put volume sank like a stone yesterday despite the market pullback. This suggests fear is being kept at bay and the selling we're seeing is garden variety profit-taking. By day's end, 16.7 million calls and just 12.3 million puts changed hands on the session.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe summer doldrums continue to produce lackluster readings in the CBOE single-session equity put/call volume ratio. It inched higher to 0.63, while the 10-day moving average climbed to 0.62. With both measures in the center of their three-month range, it leaves little to discuss regarding fear or complacency.Options trading ballooned in the following three stocks. AT&T (NYSE:T) was flooded with activity ahead of today's dividend payment. Apple (NASDAQ:AAPL) shares slipped after being downgraded on poor iPhone sales. Finally, United States Steel (NYSE:X) suffered a high-volume drop that broke major support.Let's take a closer look: AT&T (T)Dividend plays took the top three spots of the leaderboard, but I've chosen to focus on AT&T because of its compelling price chart. The telecom titan has put together quite the one-month rally. The 8% jump has T stock now testing a key resistance zone at $34.30. * 10 Best Stocks for 2019: A Volatile First Half With its ceiling looming large and overbought readings flashing, I suggest caution at chasing the shares here. A pullback or pause will provide lower-risk entries. Remember, AT&T is a stodgy dividend payer, not some high-flying tech stock prone to ignore overstretched readings.The real reason for AT&T's explosion in options trading is today's ex-dividend date. For holders of record, a 51 cent cash payment will be doled out. Institutions used calls to control the stock for long enough to capture the dividend. Based on its closing price of $34.25, the quarterly dividend payments result in an annual yield of 5.96%.Implied volatility remains at the low end of its one-year range -- the 20th percentile. So, if you're inclined to play options here, buying them is the way to go. Apple (AAPL)Apple shares suffered a setback Monday, falling as much as 2.8% during the trading session. The cause for the sudden slip was a downgrade by Rosenblatt Securities analyst Jun Zhang from Neutral to Sell. Zhang pointed toward worse-than-expected new iPhone sales and a slowdown period for Apple's business as reasons for his bearishness.From a technical analysis view, the price drop did little to change the uptrend that has defined AAPL stock since early June. It remains above a rising 20-day moving average, and buyers emerged to defend their turf yesterday. Watch the $195 support zone moving forward. A breach of that would reverse the uptrend sending warning signs to chart followers everywhere.On the options trading front, the downgrade and accompanying down gap lit a fire under put demand. Total activity swelled to 139% of the average daily volume, with 532,795 contracts traded. Puts claimed 54% of the session's sum. * 7 Simple Ways for Young Investors to Invest Their First $1,000 Implied volatility popped to 29% placing it at the 35th percentile of its one-year range. Premiums are now pricing in daily moves of $3.67 or 1.8%. United States Steel (X)United States Steel shares officially ended their recovery attempt on Monday. The one-day, 7.9% beatdown slammed X stock back below its 50-day and 20-day moving averages and signaled the beginning of its next descent. If the history of its trend is any indication, a revisit of last month's lows ($11.67) is a strong possibility.Volume surged alongside the descent creating an ominous-looking distribution day. Both its short-term ascending trendline and horizontal support from a prior pivot were breached, adding urgency to the decline. Until the stock can return to the north side of its 50-day moving average, steer clear of bullish trades.On the options trading front, surprisingly calls outpaced puts on the session. Total activity ramped to 152% of the average daily volume, with 78,654 contracts changing hands. Calls accounted for 53% of the tally.Implied volatility shot through the roof to end at 63%. That places it at the 74th percentile of its one-year range, suggesting that premiums are ripe for the selling.As of this writing, Tyler Craig didn't hold a position in any of the aforementioned securities. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Best Stocks for 2019: A Volatile First Half * 7 Simple Ways for Young Investors to Invest Their First $1,000 * 6 Stocks to Buy Based on Insider Buying The post Tuesday's Vital Data: Apple, AT&T and United States Steel appeared first on InvestorPlace.
Capacity utilization, a key metric in the steel industry, remained below the important 80% level for the second straight week.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. President Donald Trump’s tariffs on foreign steel have sped the decline of some of the U.S. mills he vowed to help.Exuberance over the levies dramatically boosted U.S. output just as the global economy was cooling, undercutting demand. That dropped prices, creating a stark divide between companies like Nucor Corp., which use cheaper-to-run electric-arc furnaces to recycle scrap into steel products, and those including U.S. Steel Corp. with more costly legacy blast furnaces.Since Trump announced the tariffs 16 months ago, U.S. Steel has lost almost 70% of its market value, or $5.6 billion, and idled two American furnaces in mid-June that couldn’t be run profitably at the lowest prices since 2016. Meanwhile, Nucor, down around 20%, has touted $2.5 billion in expansion projects.The president’s actions likely “sped up” up an unavoidable “evolution,” said Nucor Chief Executive Officer John Ferriola in an interview last month. “Are some companies going to suffer? Absolutely. We’ll we see some capacity go away, I’m sure of it."Last July, Trump stood on a makeshift stage at a U.S. Steel mill in Granite City, Illinois, and beamed as workers cheered the tariffs. At that point, the company had already restarted one of two blast furnaces at Granite City, and vowed the second would soon be brought online.“Workers are back on the job, and we’re once again pouring new American steel into the spine of our country,” Trump said during the hour-long program. “U.S. Steel is back.”Since then, though, there’s been a somewhat different outcome.With the stronger steelmakers aggressively boosting capacity to grab market share, a dip in demand has left older, more costly blast furnaces at U.S. Steel and AK Steel Holding Corp. struggling to compete, even with foreign steel nudged out of the equation.“Be careful what you wish for,” said Timna Tanners, an analyst at Bank of America who has dubbed the industry’s push to add capacity without enough demand “Steelmageddon.” She called it “ironic” that the tariffs are “punishing some steel companies.”A spokeswoman at U.S. Steel declined to comment while AK Steel said its products have little overlap with EAFs, and that the additional capacity will further pressure imports.As expected, the tariffs reduced steel imports, creating more demand in 2018 and boosting profits. With that cash in hand, added money from Trump’s corporate tax cut and confidence that protectionism is here to stay, domestic producers began adding more capacity than they would have otherwise.The problem: This year, with the global economy cooling, demand -- and prices -- have fallen. That’s given an added incentive to EAF companies with superior profit margins and balance sheets to aggressively grab a bigger share of the market.“Not all plants are the same,” said Mark Millett, CEO of Steel Dynamics Inc., who in November announced a new $1.8 billion EAF mill to be built in the U.S. southwest. “Not all projects are the same.”Suppliers to blast furnaces are sounding the alarm. In laying out his vision for iron-ore miner Cleveland-Cliffs Inc. at a recent conference, CEO Lourenco Goncalves painted a bleak future for what makes up the overwhelming majority of his current customers.That’s why Cliffs is investing $830 million in a Toledo, Ohio-based plant that will produce hot briquetted iron for electronic-arc furnaces run by firms such as Nucor, Goncalves said. They invested in the plant because “we were able to see the future of steelmaking in the United States,” Goncalves said in New York last month.Many “blast furnaces will shut down,” he added.U.S. Steel is trying to show investors it can move past its legacy blast furnaces. In February, it announced the restart of construction on an EAF facility in Alabama. And in May, the company said it would spend $1 billion upgrading facilities in Pennsylvania to produce more high-strength steel for the automotive industry.“Less efficient capacity should go away, but there is no guarantee that it permanently goes away,” Bank of America’s Tanners said. “It probably doesn’t go down without a fight.”(Updates market value decline in headline, third paragraph.)\--With assistance from Shawn Donnan.To contact the reporters on this story: Matt Townsend in New York at firstname.lastname@example.org;Joe Deaux in New York at email@example.comTo contact the editors responsible for this story: Luzi Ann Javier at firstname.lastname@example.org, Reg Gale, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Life has come full circle for US steelmakers. U.S. Steel Corporation announced the curtailment of two blast furnaces last month.
Investors need to pay close attention to United States Steel (X) stock based on the movements in the options market lately.
Even the best stock pickers will make plenty of bad investments. And unfortunately for United States Steel Corporation...
We recently identified seven iconic U.S. companies that, at one point, fell on hard times. But these stocks have proved in 2019 that they are far from extinct, handily beating the Dow Jones Industrial Average.
There was a lot going on for these steelmakers, as well as for U.S. Steel and AK Steel, and it all added up to investor relief and higher stock prices.