Wall Street Manna

An irreverent look at Wall Street

Tuesday, April 27, 2010

US Steel sees profitable operations going forward

Looking ahead to the second quarter, Surma said, "We anticipate being profitable in all three of our operating segments in the second quarter of 2010 as gradually improving business conditions should be reflected in our operating results, most notably for our Flat-rolled segment.  We continue to experience healthy order rates from most of our end markets, resulting in increased production levels.  In North America, reported inventories in key end markets, such as automotive and service centers, remain below historical averages, as do flat-rolled product imports.  In Europe, imports have also remained below historical averages and reported inventories remain low across our end markets.  Our Tubular segment is also benefitting from both increased order rates, particularly for small diameter alloy oil country tubular goods (OCTG), and a continuing steady decline in reported U.S. OCTG inventory levels from the record highs of early 2009.  In summary, we remain cautiously optimistic in our outlook for end user demand for all three of our operating segments in line with a gradual and continuing economic recovery."


At April 27, 2010 at 11:27 AM , Anonymous Anonymous said...

when would you enter in LVS and MGM again?

At April 27, 2010 at 11:57 AM , Anonymous Anonymous said...

buy the dip today?

At April 27, 2010 at 12:22 PM , Anonymous Anonymous said...

BUY F on the dip? Ford Motors Co (NYSE: F) announced its 2010 second quarter results showing a net income of $2.1 billion or $0.50 a share, compared with the previous loss of $1.4 billion that was acquired during the first quarter of 2009.

At April 27, 2010 at 12:43 PM , Blogger Palmoni said...

I'm not a dip buyer yet, and I don't like LVS up here. CREE NFLX AAPL WYNN AMZN SNDK CMI SHLD too many charts have gone parabolic.

Look at the action in WHR today.

I just don't like the action.

I just don't like the leadership--I know they have good franchises, businesses and prospects, but still, the charts are extended.

I'd feel better if we could have some consolidation.

I know the whole way up, you had to buy, but now, they are making you chase, and I just don't want to chase things here.

I'm just hoping for a time correction (I suppose along with everybody else!)so the charts aren't so extended.

At April 27, 2010 at 1:03 PM , Blogger Palmoni said...

Even though 1190 has held the last three times, and even though JPM says that 1170 would hold.

I just want a little time consolidation

At April 27, 2010 at 1:03 PM , Anonymous Anonymous said...

Palomoni, I really like to know if you have any thoughts on citi, because this week it ain't lookin pretty--government sell off, finance reform drivin it down down, but i'm in long

At April 27, 2010 at 2:20 PM , Blogger whydibuy said...

The hell you say??

No taunting of the bears today??

Don't buy the dip??

What is the world coming to??

Can't rely on anything anymore. ( LOL )

At April 27, 2010 at 10:30 PM , Anonymous Anonymous said...

Palmoni what's your take on RE in Australia. Considering selling rural property. Is money best left parked in RE or bank for the next couple of years. Banks paying 5.5% on deposits. Rural property fully owned. Cheers


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