Subject: INO
Technical Snapshots for These Steel and Iron Stocks -- AK Steel, Gerdau, United States Steel, and Reliance Steel & Aluminum
NEW YORK, October 10, 2017 /PRNewswire/ --
If you want a Stock Review on AKS, GGB, X, or RS then come over to http://dailystocktracker.com/register/ and sign up for your free customized report Today, DailyStockTracker.com follows the performance of four Steel and Iron stocks, namely: AK Steel Holding Corp. (NYSE: AKS), Gerdau S.A. (NYSE: GGB), United States Steel Corp. (NYSE: X), and Reliance Steel & Aluminum Co. (NYSE: RS). Zacks reported that the steel industry is poised to benefit from solid demand in the US and emerging markets this year. The research firm further noted that the World Steel Association - the international trade body for the iron and steel industry- expects global steel demand to expand 1.3% in 2017, following a 1% rise in 2016. Access DailyStockTracker.com's complimentary reports for today's stocks line-up at: http://dailystocktracker.com/register/
AK Steel Holding
Shares in West Chester, Ohio headquartered AK Steel Holding Corp. saw a correction of 3.41%, ending Monday's trading session at $5.39. The stock recorded a trading volume of 12.20 million shares. The Company's shares are trading 2.09% below their 50-day moving average. Moreover, shares of AK Steel, which through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, stainless, and electrical steels and tubular products in the US and internationally, have a Relative Strength Index (RSI) of 43.31.
On October 05th, 2017, AK Steel announced plans to release its Q3 2017 financial results before the opening of trading on the NYSE on Tuesday, October 31st, 2017. The Company will also host conference call at 11:00 a.m. ET that same day to discuss its earnings. The live webcast will be available under the home page of the Company's website. Visit us today and access your complete report on AKS for free at: http://dailystocktracker.com/registration/?symbol=AKS
Gerdau
Porto Alegre, Brazil-based Gerdau S.A.'s stock declined 1.49%, closing the day at $3.31. A total volume of 24.41 million shares was traded, which was above their three months average volume of 7.15 million shares. The Company's shares have advanced 5.41% since the start of this year. The stock is trading 4.49% below its 200-day moving average. Additionally, shares of Gerdau, which provides steel-related products and services worldwide, have an RSI of 34.88.
On October 04th, 2017, Gerdau, Citigroup Global Markets Inc., and Santander Investment Securities Inc. (collectively, the "Offerors") announced the commencement of an offer by the Offerors on behalf of Gerdau to purchase for cash up to a maximum amount of U.S.$500,000,000 (including the Early Tender Payment, if applicable) of the outstanding 7.000% Bonds due 2020 issued by Gerdau Holdings Inc.; 5.750% Bonds due 2021 issued by Gerdau Trade Inc.; and 5.893% Bonds due 2024 issued jointly by Gerdau Holdings Inc. and GTL Trade Finance Inc. The complimentary research report on GGB can be accessed at: http://dailystocktracker.com/registration/?symbol=GGB
United States Steel
On Monday, shares in Pittsburgh, Pennsylvania headquartered United States Steel Corp. recorded a trading volume of 12.92 million shares. The stock ended the day 3.95% lower at $25.02. The Company's shares have advanced 12.15% in the previous three months, and are trading below their 50-day moving average by 0.15%. Furthermore, shares of the Company, which produces and sells flat-rolled and tubular steel products primarily in North America and Europe, have an RSI of 45.56.
On September 22nd, 2017, research firm Cowen downgraded the Company's stock rating from 'Market Perform' to 'Underperform' while revising its previous target price from $24 a share to $20 a share.
On October 03rd, 2017, United States Steel announced that it will hold a conference call with securities analysts on November 01st, 2017, at 8:30 a.m. EDT. The call will cover Q3 2017 financial results and may include forward-looking information. The Company also plans to release its Q3 2017 financial results following the close of trading on the NYSE on October 31st, 2017. Register for free on DailyStockTracker.com and download the research report on X at: http://dailystocktracker.com/registration/?symbol=X
Reliance Steel & Aluminum
Los Angeles, California headquartered Reliance Steel & Aluminum Co.'s stock dropped 1.59%, finishing yesterday's session at $75.10 with a total trading volume of 336,829 shares. The Company's shares have advanced 1.49% in the last one month and 2.90% in the previous three months. The stock is trading above its 50-day moving average by 2.67%. Additionally, shares of the Company, which operates as a metals service center one, have an RSI of 50.66.
On October 03rd, 2017, Reliance Steel & Aluminum (RS) announced that, effective October 02nd, 2017, it has acquired all the common stock of Ferguson Perforating Company through Diamond Manufacturing Company, a wholly-owned subsidiary of RS. Founded in 1927, Ferguson manufactures perforated metal parts for numerous applications in domestic and international markets. Get free access to your research report on RS at: http://dailystocktracker.com/registration/?symbol=RS
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