|Bid||9.54 x 3200|
|Ask||9.55 x 4000|
|Day's Range||9.44 - 9.83|
|52 Week Range||9.44 - 24.74|
|Beta (5Y Monthly)||3.03|
|PE Ratio (TTM)||2.63|
|Forward Dividend & Yield||0.20 (2.01%)|
|Ex-Dividend Date||Nov 10, 2019|
|1y Target Est||N/A|
U.S. Steel (X) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Wall Street lost ground on Tuesday, backing away from record highs as a viral outbreak from China found its way to U.S. shores and the International Monetary Fund (IMF) lowered its global economic growth forecast. The indexes extended their losses after the Centers for Disease Control and Prevention confirmed the first U.S. case of the coronavirus, which has now killed six people in China.
'Our company and our future are stronger when our workplaces are inclusive, diverse and high-performing," CEO says.
Wall Street backed away from all-time highs on Tuesday as investors returned from a holiday weekend to face a viral outbreak in China and a downbeat global growth outlook from the International Monetary Fund (IMF). The indexes extended their losses after the Centers for Disease Control and Prevention confirmed the first U.S. case of the coronavirus, which has now killed six people in China. United Airlines was down 5.3%, while Carnival Corp dipped 2.6%.
The phase one deal reached between the U.S. and China will increase the incentives to outsource U.S. jobs to China.
The steel industry is part of the basic materials sector and consists of companies involved in steel production, mining and related activities. The top steel companies today include Allegheny Technologies, Inc. (ATI) and Ternium S.A. (TA). Over the 12-month trailing period, the steel industry, as represented by the VanEck Vectors Steel ETF (SLX), has seen its price grow by 1.3%, dramatically short of the S&P 500, which has grown by 27.2%. All figures are as of January 14, 2020.
(Bloomberg) -- If the latest monthly manufacturing data suggests anything, it’s that President Donald Trump’s tariffs haven’t yet solved a key issue haunting U.S. steelmakers: China’s subsidizing of its own industry.Manufacturing jobs in December unexpectedly fell by 12,000 with a key part of the drop coming in businesses that make raw and fabricated metals. The metal-making industries accounted for a loss of 9,500 jobs, and U.S. industry groups say that without an agreement on the Chinese subsidies, more losses could be ahead.Trump is about to sign a Phase 1 trade pact that is not expected to address the issue of Chinese steel production and other aspects related to industrial policy. He has said that once that’s complete Phase 2 talks can begin. China’s subsidies are giving its metals industry an unfair edge and need to be part of any future pact, according to Scott Paul, president of the Alliance for American Manufacturing.“American workers are now counting on the administration to bring home a real agreement with China that includes action to address China’s massive industrial subsidies,” Paul said in a statement. “Without that change, this decade looks to be a tough one for America’s factory workers.”Peter Navarro, the White House adviser on trade, says the Trump administration is “well aware of the problem. We’re fully engaged, and it’s something that needs to be firmly addressed.”“The tariffs are working beautifully,” he said by telephone. “If not for the tariffs these companies would be in very significant distress rather than investing billions modernizing facilities. But we would much prefer that these other countries that are heavily subsidizing their steel and aluminum production cease and desist from doing so.”The U.S. and other World Trade Organization members have long criticized China’s domestic steel subsidies, which they said have led to massive overcapacity in global markets. The Obama administration, days before leaving office, filed a complaint with the WTO against the subsidies, leaving a blueprint for the Trump administration to fight them.Instead, Trump slapped 25% duties on all steel imports and 10% levies on foreign aluminum, with no regard for where it originated. While they boosted short-term profits for U.S. steelmakers and aluminum producers, the effects have worn off.Since Trump announced the tariffs, U.S. Steel Corp. has lost 77% of its value, Alcoa Corp. is down about 57% and Nucor Corp., the biggest U.S. steelmaker, is down about 22%. American steel production grew about 10% from 2015 to 2018. But the number of jobs has fallen by 8.8%, according to the Bureau of Labor Statistics, as the industry became more efficient with so-called mini mills that use mostly scrap metal to make steel.Meanwhile, in late December U.S. Steel announced it would begin to idle a giant plant outside Detroit in April, when it will begin laying off as many as 1,545 workers. The company said it anticipated that the final number of impacted employees will be lower than the announced number.China’s steel industry association pushed to halt some steel production in regions that have extensive capacity while facing pollution pressures, China’s official Xinhua news agency reported Monday, without giving more details.To contact the reporter on this story: Joe Deaux in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Luzi Ann Javier at email@example.com, Reg Gale, Steven FrankFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
United States Steel Corp. (NYSE: X) announced Friday its intentions to work with the Allegheny County Health Department to implement a strategy that addresses the continued air quality issues in the county, according to a news release. From December 21 to 26 2019 the Liberty monitor exceeded the National Ambient Air Quality standard, and on the 24thand 25th, exactly one year after the Clairton Coke Works facility experienced a disastrous fire that shut down its emissions controls, the Pennsylvania Department of Environmental Protection issued an air quality action alert to citizens in the Clairton and Liberty communities. The ACHD issued a statement earlier this month that the county expects an increase in temperature inversions due to climate change.
The 2019 scoreboard turned out great for equity bulls, but it was tumultuous for all markets. It's been a series of trading headline after headline -- making it difficult to have confidence on Wall Street. All sectors were affected, and toda,y we examine three such stocks to trade as we head into 2020.Freeport-McMoRan (NYSE:FCX), United States Steel Corporation (NYSE:X) and Nio Limited (NYSE:NIO) investors had to withstand big rallies and collapses throughout the year. Just recently, X fell off a cliff, Nio doubled in one day and FCX rallied 50% in a couple of months to salvage its year performance. * 7 'A'-Rated Stocks to Buy Under $10 With those types of performances, these clearly are stocks to trade into next year.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Stock Ready to Trade in 2020: Nio Limited (NIO) Click to Enlarge Source: Charts by TradingView Nio is a momentum stock like its competitor Tesla (NASDAQ:TSLA), meaning that it runs fast in both directions. Monday, it doubled on the positive reaction to its upside surprise in vehicle delivery report. While this sounds tremendous, the stock has fallen almost 90% since its highs in March; So, it's digging its way back out of an abyss.On the way down, it looked like it was headed to zero. So, this sudden upside burst is tempting to chase. But, before investors back up the truck and load up on Nio, they should consider that the giant rally sliced through all short-term levels too fast.The Monday high was exactly the ledge from which the stock collapsed in May. So, the first retest of it faces tremendous resistance. This is not the same as saying it will never happen -- but usually, the bulls need a few attempts before they retake prior accident scenes. $5 per share is in fact resistance until the buyers can prove they can retake it and use it for forward footing.Combine this enthusiasm with the recent adoration of Tesla stock, and you get a situation where sentiment has suddenly swung too far positive too fast. So, there will likely be better entry points into NIO stock than now -- especially if the goal is short-term profit.Nio now needs to hold $3.50 per share or else it risks filling the gap to $2.65. The problem with fast profits is that it creates a bunch of weak hands. Those make for shaky bases, so it needs a shake out of a few of them before the buyers can flex more muscle. This morning pop needs to hold so that the bulls have a chance at a new leg of the prior glory recovery. U.S. Steel (X) Click to Enlarge Source: Charts by TradingView In early December, U.S. Steel stock showed great technical promise. The chart was finally hinting at a big breakout, but then it all fell apart on a headline mid month when management hit the trifecta of bad news. They downgraded the outlook, cut the dividend and the buybacks. The investors panicked out of X stock in droves, and it is now 20% lower with almost no light at the end of the tunnel.However, this makes it so that there are few incremental sellers left. Everyone that wanted to sell did so already, so this leaves the upside potential in 2020 the more likely scenario. The Warren Buffet mentality applies here: Buy when everyone else is afraid. The trick is to make sure to set limits to potential losses because having solid stop loss levels makes for more successful trading. Otherwise, catching falling machetes like X stock would cause investors to lose many fingers. * 7 Stocks to Buy to Get 2020 Started the Right Way The U.S. Steel fans need to defend the recent lows, as it is imperative to stay double digits and not revisit the August lows. This will limit the damage done by the recent headline and the bulls can rebuild the upward momentum. The real battle would then be to breach through the $14 to $15 per share zone. The descending wedge still offers the best opportunity for X to recover by mid-2020. Freeport McMoRran (FCX) Click to Enlarge Source: Charts by TradingView Freeport-McMoRan stock is ending the year up as much as the S&P 500, but it wasn't all rosy. Most of the gains came from a late 50% rally off the October lows, and FCX stock is now trading inside a tight price range. This usually means that it will breakout soon from it, and the trade is to chase either side when it's breached.It is important to note that this is a trade more so than an investment. But, if the breakout happens to the upside, then FCX could use the momentum to take out the recent failure point near $15 per share and start another significant rally. So in a sense, this short-term trade could have long-term upside repercussions.This action in FCX is happening above a very long-term consolidation zone that dates back more than 15 years. Moreover, it bounced off the pivot levels from April of 2003. Back then, this served as a spring board to a 130% rally in a few months -- and then ultimately, ended up more that 500% at the highs of 2008.This alone doesn't mean that this rally here will have the same results, but it does suggest that FCX stock bulls have the benefit of strong support below. Responsibility is on the bears to find new reasons to go back to single digits.This also means that the bulls will have more than one attempt at breaching the resistance here and at $15 per share. Of course, for this to happen, management will have to avoid creating its own drama with balance sheet issues or strategic flubs.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. Join his live chat room for free here. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 'A'-Rated Stocks to Buy Under $10 * 7 High-Yield Dividend Stocks for Growth and Income in the 2020s * 7 Tech Stocks to Buy As the Trade War Ends The post 3 Stocks To Trade That Are Ready to Move in 2020 appeared first on InvestorPlace.
For the final PreMarket Prep of 2019, we invited a few of our favorite guests from the year to share a bullish pick and bearish pan for 2020. To say the sentiment was overwhelmingly bullish for the broad ...
The Pittsburgh manufacturing giant's year started with the aftermath of a fire and closed with big acquisition plans.
Convertible bonds, which have been ignored by investors and Wall Street for years, may be worth a fresh look, asserts George Putnam, editor of The Turnaround Letter.
So Much For Steel Tariffs U.S. Steel Corp. (NYSE:X) is going through some hard times. The company announced Thursday afternoon that it isn’t doing too well, and the Trump tariffs on steel imports haven’t helped at all. It will slash its dividend 80% to a penny per quarter and stop repurchasing its own stock, lay off […]The post Market Morning: US Steel Trouble, Amazon Self Ships, Starliner Fails, American Goes Non-Binary appeared first on Market Exclusive.
Dec.20 -- U.S. Commerce Secretary Wilbur Ross says U.S. Steel Corp.’s decision to close a giant plant in Michigan and lay off as many as 1,545 workers doesn’t mean the import tariffs placed on steel and aluminum by President Donald Trump aren’t working. He speaks with Bloomberg's David Westin on "Bloomberg Markets."