Monday, April 5, 2010
Barron's gets bullish on the steel names
The impact was even worse in the steel supply chain. Steep production cuts and lower prices caused both Nucor (NUE) and U.S. Steel (X) to suffer revenue declines of more than 50% in 2009. Reliance's revenues, likewise, fell 47% last year, to $5.3 billion from a pro forma $10.1 billion in 2008.
Remember Barron's last October?
NEW YORK, Oct 11 (Reuters) - Shares of United States Steel Corp, America's largest steel producer, could head lower if the U.S. industrial sector fails to rebound, business weekly Barron's said in its Oct. 12 edition.
The business newspaper said that while U.S. Steel's stock has soared since mid-March, it has recently retreated by about 15 percent off a mid-September high, and could fall even further if the manufacturing sector continues to struggle.
I promised that when Barron's would tip X, I would give readers a reminder!
Now that the stock price has moved up 30 points, Barron's "sees something" in the name!
Posted by Palmoni at 8:27 AM