International Business News - CMC http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif Moody's Investors Service on Friday cut its outlook for steel to "Negative" from "Stable" because of weakened economic conditions, declining demand, falling prices and the industry's high costs. http://www.ibtimes.com/articles/20081121/analyst-note-steel-industrys-outlook-dims.htm Fri, 21 Nov 2008 15:10:54 EST Steel company stocks tumbled Thursday as declining demand has led to inventory reduction, sharply lower sales and falling product prices, an analyst said. http://www.ibtimes.com/articles/20081120/sector-snap-steel-stocks-bend-on-weak-demand.htm Thu, 20 Nov 2008 14:58:16 EST Steel prices may fall next year because of weakening demand and lower iron ore and coking coal costs, an analyst warned Monday. Goldman Sachs analyst Sal Tharani said a stronger dollar, falling freight costs and low prices for coking coal and iron ore should boost steel imports over the next few months, forcing the price of steel "to hover close to industry's cash cost." http://www.ibtimes.com/articles/20081117/ahead-of-the-bell-steel-prices-heading-down.htm Mon, 17 Nov 2008 09:35:25 EST Among the earnings projection stories for Thursday, Oct. 30, from AP Financial News: IRVING, Texas (AP)--Steel and metals maker and recycler Commercial Metals Co. said Thursday fiscal first-quarter earnings will fall below analyst expectations because of an anticipated accounting expense. http://www.ibtimes.com/articles/20081030/outlook-roundup-commercial-metals-modine.htm Thu, 30 Oct 2008 14:32:41 EDT Steel and metals maker and recycler Commercial Metals Co. said Thursday fiscal first-quarter earnings will fall below analyst expectations because of an anticipated accounting expense. http://www.ibtimes.com/articles/20081030/commercial-metals-1q-forecast-lower-than-analysts.htm Thu, 30 Oct 2008 11:08:23 EDT Steel and metals maker and recycler Commercial Metals Co. said Thursday fiscal fourth-quarter earnings fell 39 percent as the company took a big expense related to its inventory accounting, caused by higher scrap prices. http://www.ibtimes.com/articles/20081030/commercial-metals-4q-profit-tumbles.htm Thu, 30 Oct 2008 10:35:29 EDT Among the earnings stories for Thursday, Oct. 30, from AP Financial News: CHICAGO (AP)--Newell Rubbermaid Inc. said its third-quarter profit skidded 68 percent, and it forecast weaker-than-expected fourth-quarter and full-year earnings because of falling consumer spending. http://www.ibtimes.com/articles/20081030/earnings-roundup-newell-rubbermaid-visteon.htm Thu, 30 Oct 2008 14:50:36 EDT Shares of steel producers were mostly lower Friday as the broader market followed global stocks lower and automakers on both sides of the Atlantic disclosed fresh woes. http://www.ibtimes.com/articles/20081024/sector-snap-shares-of-steel-producers-falling.htm Fri, 24 Oct 2008 15:05:25 EDT Shares of steel makers tumbled Wednesday amid expectations that demand for their products will fall in Europe and North America. Goldman Sachs analyst Sal Tharani, in a client note about United States Steel Corp., warned about "deteriorating European and U.S. markets and our expectations of declining ... prices" for the steel pipes used in drilling for crude oil and natural gas. http://www.ibtimes.com/articles/20081022/sector-snap-steel-off-on-lower-price-expectations.htm Wed, 22 Oct 2008 11:41:48 EDT Metal products business Commercial Metals will repurchase 10 million shares of its common stock, the company announced after the market closed on Tuesday. http://www.ibtimes.com/articles/20081022/commercial-metals-to-buy-back-10-million-shares.htm Wed, 22 Oct 2008 11:30:14 EDT A Goldman Sachs analyst sharply cut his forecast for steel prices Thursday, saying steel buying has come to a near halt worldwide, but there could be buying opportunities ahead for some steel stocks. http://www.ibtimes.com/articles/20081009/ahead-of-the-bell-analyst-sees-lower-steel-prices.htm Thu, 09 Oct 2008 09:23:45 EDT Steel producer shares sank Wednesday on fresh evidence of slowing U.S. manufacturing and an analyst's prediction of subdued demand for the rest of the year. http://www.ibtimes.com/articles/20081001/sector-snap-steel-producers-shares-retreat.htm Wed, 01 Oct 2008 11:43:58 EDT Shares of steel producers fell hard Monday after buyers virtually suspended purchases in the expectation that the cost of steel product will fall. "There's actually a buyers' strike at the moment," Soleil analyst Charles Bradford said in a telephone interview. http://www.ibtimes.com/articles/20080929/sector-snap-steel-shares-down-on-buyers-strike.htm Mon, 29 Sep 2008 15:19:08 EDT Risks including a strengthening dollar and fears of easing demand from China have re-emerged in the U.S. steel industry, Goldman Sachs Global Investment Research said Thursday, downgrading its rating of the sector. http://www.ibtimes.com/articles/20080904/ahead-of-the-bell-goldman-sachs-downgrades-steel.htm Thu, 04 Sep 2008 08:42:20 EDT Steel maker Commercial Metals Co., which has been acquiring assets, said Monday it sold $500 million of 10-year senior unsecured notes. The notes have a coupon rate of 7.35 percent and were sold at the offering price of $998.28 for each $1,000 of principal to yield 7.374 percent to maturity. http://www.ibtimes.com/articles/20080804/commercial-metals-sells-500-million-in-notes.htm Mon, 04 Aug 2008 17:11:50 EDT Shares of steel makers fell Tuesday after AK Steel Holding Corp. said its third-quarter shipments will decline from second-quarter levels and raw material and energy costs are due to increase in the period. http://www.ibtimes.com/articles/20080722/sector-snap-steel-makers-slides-on-weak-outlook.htm Tue, 22 Jul 2008 15:23:10 EDT Shares of Nucor Corp. fell more than 11 percent Thursday after the big steel maker's third-quarter guidance missed Wall Street expectations. Other U.S. steel makers also declined, though not as much as the Charlotte, N.C.-based company. http://www.ibtimes.com/articles/20080717/nucor-falls-as-market-focuses-on-3q-guidance.htm Thu, 17 Jul 2008 19:31:39 EDT Steel producer Commercial Metals Co. said Friday that President and Chief Executive Murray R. McClean will become chairman when Stanley A. Rabin retires in August. http://www.ibtimes.com/articles/20080711/commercial-metals-sets-chairman-succession-plan.htm Fri, 11 Jul 2008 17:25:30 EDT Among the premarket stories for Friday, July 11, from AP Financial News: NEW YORK (AP)--An analyst says he expects sales of Apple Inc.'s newest iPhone in its first weekend alone to quadruple those of its predecessor. http://www.ibtimes.com/articles/20080711/premarket-roundup-apple-steel-dynamics-cmc.htm Fri, 11 Jul 2008 09:30:43 EDT An analyst upgraded Steel Dynamics Inc. and Commercial Metals Co. Friday, citing a recent drop in their shares. Citi Investment Research analysts upgraded the companies to "Buy" from "Hold." http://www.ibtimes.com/articles/20080711/ahead-of-the-bell-steel-dymanics-cmc-upgraded.htm Fri, 11 Jul 2008 08:45:05 EDT