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☆ Stocks making the biggest premarket moves: Berkshire Hathaway, Paramount, Spirit Air, Victoria's Secret and more
▼ + stars: | 2024-05-06 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Paramount — Shares popped 2.4% following a report that the owner of Paramount Pictures and CBS Entertainment Group began formal acquisition negotiations with a group led by Sony Pictures Entertainment and Apollo. Morgan Stanley downgraded Victoria's Secret to underweight and cut its price target, citing expectations for negative EPS revisions and a tough second half for specialty retail. EHang Holdings — The autonomous aircraft stock advanced 3.2% on the heels of a bullish initiation of research coverage from Morgan Stanley. United States Steel — Shares of the Pittsburgh-based steelmaker rose more than 2% after Morgan Stanley upgraded it to overweight from equal weight. U.S. Steel shares have room to rise thanks to internal improvements, even if the Nippon Steel buyout deal collapses, Morgan Stanley said in a note.

Persons: Warren Buffett, Li, Tyson, Howard Shultz, Morgan Stanley, Coinbase, Bausch, Johnson, —, Sarah Min, Tanaya Macheel, Jesse Pound, Michelle Fox, Samantha Subin Organizations: Berkshire Hathaway, Paramount, Paramount Pictures, CBS Entertainment Group, Sony Pictures Entertainment, Spirit Airlines, Li Auto, StreetAccount, Starbucks, EHang Holdings, United States Steel, . Steel, Nippon Steel, Barclays, UBS Locations: Berkshire, China, Pittsburgh

☆ Stocks making the biggest moves midday: Berkshire Hathaway, Micron, Tyson Foods, Spirit Airlines and more
▼ + stars: | 2024-05-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Spirit also forecast second-quarter revenue between $1.2 billion and $1.34 billion, below a FactSet estimate of $1.46 billion. Paramount — Shares popped 3.3% following a report that the owner of Paramount Pictures and CBS Entertainment Group began formal acquisition negotiations with a group led by Sony Pictures Entertainment and Apollo . U.S. Steel shares have room to rise due to internal improvements, even if the Nippon Steel buyout deal collapses, Morgan Stanley said in a note. Morgan Stanley said the market is likely overlooking the Canadian-based company's progress on improving core profit margins. Morgan Stanley downgraded the intimate apparel maker to underweight due to expectations for negative earnings per share revisions.

Persons: Baird, Warren Buffett, Morgan Stanley, Tyson, StreetAccount, Bausch, Coinbase, Li Auto, Alex Harring, Jesse Pound, Samantha Subin, Hakyung Kim, Sarah Min, Matthew Staver Organizations: Berkshire Hathaway, Berkshire, Micron Technology, Spirit Airlines, Paramount, Paramount Pictures, CBS Entertainment Group, Sony Pictures Entertainment, United States Steel, . Steel, Nippon Steel, Medical Properties, Health Care, EHang Holdings, Barclays, Micron Technology Inc, Bloomberg, Getty Locations: The Boise , Idaho, Berkshire, Pittsburgh, China, Weibo, Boise , Idaho

☆ Political Furor Over U.S. Steel Bid Puts Investment Panel in Spotlight
▼ + stars: | 2024-05-03 | by ( Alan Rappeport | ) www.nytimes.com time to read: 1 min

At a campaign event last month in Pennsylvania, the heartland of American steel manufacturing, President Biden made clear that he does not want the proposed takeover of U.S. Steel by Japan’s Nippon Steel to happen. “We’re finally making sure that United States Steel stays United States Steel,” Mr. Biden said. “It’s not going to be anybody else’s steel.”How that promise will be kept has yet to be determined. U.S. Steel said this week in its first-quarter earnings release that it expected the acquisition to be completed in the second half of this year, but noted that timing depended on getting regulatory approvals. On Friday, Nippon Steel said that it was delaying its timeline for the deal to close, from the middle of the year to the end of 2024, because it had been asked to provide more information about the transaction to the Department of Justice, which is reviewing the deal.

Persons: Biden, “ We’re, Mr, “ It’s Organizations: U.S, Steel, Japan’s Nippon Steel, United States Steel, . Steel, Nippon Steel, Department of Justice Locations: Pennsylvania

☆ 12 portfolio companies report earnings in the week ahead. What we want to hear from each
▼ + stars: | 2024-04-27 | by ( Zev Fima | ) www.cnbc.com time to read: +15 min

The action quickly and sharply reversed back to the upside Friday after blowout earnings reports from Alphabet and Microsoft . In the week ahead, earnings are likely to drive the action again, though we'll get a few important macroeconomic reports. Earnings: We've got the biggest week of the earnings season ahead of us, with 12 Club holdings set to report. Eli Lilly 's report Tuesday morning continues to be all about sales of type-2 diabetes treatment Mounjaro and weight-loss drug Zepbound. In DuPont 's report Wednesday morning, we're looking for a continued rebound in its semiconductor business following a sequential increase last quarter.

Persons: Ford, we'll, Dow Jones, We've, Buckle, Eaton, Eli Lilly, Lilly, We're, Estee Lauder, Fabrizio Freda, we've, Linde, Bausch, Royal Philips, Woodward, SIRI, Archer, Johnson, Stanley Black, Decker, BAX, Cardinal Health, Parker, Belden, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Microsoft, Meta, Google Search, Big Tech, Nvidia, Broadcom, Ford Motor, Honeywell, Danaher, Labor Department, Labor, PMI, Services PMI, GE Healthcare, Amazon Web Services, Starbucks, Deutsche Bank, DuPont, Bausch Health, U.S ., Appeals, Apple, iPhones, Vision, ON Semiconductor, Resource Partners, Franklin Resources, Paramount, Transocean Ltd, Semiconductors, Arch Capital, Logitech International, Lattice Semiconductor, F5 Networks, Sanmina Corporation, GE HealthCare, PayPal, 3M Company, McDonalds, Enterprise Products Partners, Cola Company, Melco Resorts, Entertainment, SiriusXM Holdings, Oatly, American Electric Power Company, Leidos Holdings, Marathon Petroleum, Daniels, Midland Co, Equitrans Midstream Corporation, HSBC Holdings, HSBC, Devices, Caesars Entertainment, Lumen Technologies, Mondelez, Pfizer, CVS Health, Barrick, Mastercard Inc, Cruise Line Holdings Ltd, Kraft Heinz Company, Marriott International, Ares, Generac Holdings, Johnson Controls, Cenovus Energy Inc, Qualcomm, Devon Energy, Paycom, Axcelis Technologies, Coeur D'Alene Mines, Sunnova Energy International, MGM Resorts International, MGM, Solar Inc, Oil, Allstate, Co, Tenable Holdings, Enovix Corporation, Gladstone Capital, Avis Budget Group, eBay, EBAY, LIN, Novo Nordisk, Natural Resources, PENN Entertainment, Apache, ConocoPhillips, InMode Ltd, Baxter International, Cardinal, Regeneron Pharmaceuticals, Apollo Global Management, LLC, Cinemark Inc, Dominion Energy, Coterra Energy, Coinbase, Bill.com Holdings, Booking Holdings, United States Steel, AXT Inc, Materials, Energy, Hershey Company, XPO Logistics, Cboe, American Pipeline, Amneal Pharmaceuticals, Brookfield Business Partners, Brookfield Renewable Corporation, Magna International, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Bloomberg, Getty Locations: U.S, megaprojects, China, Eaton, Corning, Coeur D'Alene, Albemarle, ALB, Novo, New York

☆ 3-Stock Lunch: HOOD, C & X
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email3-Stock Lunch: HOOD, C & XEva Ados, ERShares chief investment strategist, joins 'Power Lunch' to discuss plays for three stocks including: Robinhood, CitiGroup and United States Steel Corp.

Persons: Eva Ados Organizations: CitiGroup, United States Steel Corp

☆ Stocks making the biggest moves premarket: Citigroup, Under Armour, MicroStrategy and more
▼ + stars: | 2024-03-14 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Under Armour — Shares dropped 5.3% on news that founder Kevin Plank is returning as chief executive to the sportswear company. Dollar General — The discount retailer popped 5.8% on the back of a stronger-than-expected earnings report for the fourth quarter. After the market closed Wednesday, SentinelOne posted stronger-than-expected quarterly results. Dick's Sporting Goods -- Shares moved 3.6% higher after the sporting goods retailer posted an earnings and revenue beat for its fourth quarter. MicroStrategy — Shares gained 1.6% after MicroStrategy said it's raising $500 million to buy additional bitcoin , and to use for other general corporate purposes.

Persons: Armour, Kevin Plank, Evercore, LSEG, Joe Biden, SentinelOne, Dick's, Goldman Sachs, MicroStrategy, —, Alex Harring, Sarah Min, Michelle Fox Organizations: United States Steel, Nippon Steel Corp, Wall Street Journal, Dick's Sporting Goods, Citigroup —, Citi

☆ This week will make it clearer if the Fed will cut interest rates in March
▼ + stars: | 2024-01-28 | by ( Bryan Mena | ) edition.cnn.com time to read: +11 min

Washington, DC CNN —A slew of economic news this week will make it much clearer if the Federal Reserve will cut interest rates in March. The Labor Department is due to release four crucial assessments of America’s job market, gauging labor demand, wage growth, productivity and hiring. Wages and the Fed on Wednesday: The day after, the Labor Department releases its Employment Cost Index for the fourth quarter, a comprehensive measure of employers’ labor costs. The US Labor Department releases December data on job openings, quits, hires and layoffs. The US Labor Department releases its Employment Cost Index for the fourth quarter.

Persons: that’s, ”, Christian Scherrmann, Jerome Powell, ” Michael Feroli, “, ” Feroli, Powell, Alicia Wallace, Joe Brusuelas, Jerome Powell’s Organizations: CNN Business, Bell, DC CNN, Federal Reserve, Labor Department, DWS, Labor, Survey, Fed, Employers, PCE, Federal, Commerce Department, RSM, Whirlpool, Microsoft, UBS, HCA Healthcare, General Motors, Cleveland Cliffs, Mondelez International, JetBlue Airways, Global, US Labor Department, Board, National Bureau of Statistics, Novo Nordisk, Mastercard, Novartis, Boeing, ADP, Nasdaq, Nomura Holdings, Apple, Shell, Honeywell, Deutsche Bank, Clorox, Quest Diagnostics, United States Steel, Bank of England, P Global, Institute for Supply Management, Exxon Mobil, AbbVie, Regeneron Pharmaceuticals, University of Michigan Locations: Washington, Marathon, Cleveland, Chevron

☆ 10 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-01-27 | by ( Zev Fima | ) www.cnbc.com time to read: +16 min

All three major averages posted gains for the third consecutive week, lifted by solid quarterly earnings and positive economic data. Earnings season ramps up next week, with five of the Super Six mega-cap stocks delivering results. Employment numbers are the most important economic data, with Friday's January nonfarm payrolls report carrying the most weight. The January ISM Manufacturing report on Thursday and December's factory orders report Friday are expected to show the sector still in contraction mode. But earnings and commentary this week from peer Sartorious made us encouraged about a return to growth in 2024.

Persons: nonfarm, December's, Sartorious, We've, Stanley Black, Decker, We're, We'd, Royal Philips, Crane, Woodward, ServisFirst, Cadence Bancorporation, CADE, Johnson, Phillips, Avery Dennison, Columbus McKinnon, Robinson, SIRI, Cardinal Health, Parker, DOV, Pitney Bowes, Ferrari N.V, CSW, COLM, W.W, Grainger, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Tim Cook, Justin Sullivan Organizations: Gross, Procter, Gamble, Gillette, Super, Consumer, JPM Healthcare, Amazon, Microsoft, Honeywell, Aerospace, Solutions, Apple Watch, Masimo, Vision Pro, Franklin Resources, Resource Partners, Bank of Marin Bancorp, Bank7 Corp, Pacific Premier Bancorp Inc, Provident Financial Holdings, Dynex, Cliffs Inc, Nucor Corp, Whirlpool Corp, F5 Networks, Capital Southwest Corp, Harbors Investment Corp, Crane Co, Payne, Equity, Heartland Financial, Cadence, FinWise Bancorp, Five Star Bancorp, PotlatchDeltic Corporation, Sanmina Corporation, Pfizer, General Motors Corp, United Parcel Service, JetBlue Airways Corporation, Smith Corp, Marathon Petroleum Corp, HCA Healthcare, Oshkosh Corporation, SYSCO Corp, Danaher Corp, Johnson Controls, M.D.C . Holdings, Commvault Systems Inc, Hope Bancorp, Hubbell Incorporated, Malibu Boats, Polaris Industries, Inc, Camden National Corp, Cambridge Bancorp, Microsoft Corp, Starbucks Corp, Devices, Electronic Arts Inc, Juniper Networks, Stryker Corp, Lending, Canadian, Canadian Pacific Kansas City Limited, Mondelez, Chubb Corporation, Modine Manufacturing, Partners, Management, Hawaiian Holdings, Manhattan Associates, Unum Group, UNM, Axos, Enova, Boston Properties, Boeing Co, Novo Nordisk, Mastercard Inc, Roper Technologies, Boston Scientific Corporation, MarketAxess Holdings, Fisher, Aptiv PLC, Hess Corp, Nasdaq, United Microelectronics Corp, Rockwell Automation, Teva Pharmaceutical Industries, Ltd, Avery, Avery Dennison Corp, Extreme Networks, Otis Worldwide Corporation, OTIS, Columbus, Columbus McKinnon Corp, Central Pacific Financial Corp, Brinker International, Fortive Corporation, Qualcomm, Technology, Metlife, Hanover Insurance, Barn Holdings, CONMED Corporation, DLH Holdings Corp, Meritage Homes Corporation, Honeywell International, Eaton Corp, Altria, Royal Caribbean Cruises Ltd, Merck, Co, Enterprise Products Partners, Dorian LPG, SiriusXM Holdings, Cardinal, Hannifin Corporation, Allegheny Technologies Incorporated, Tractor Supply Company, Trane Technologies, Dover Corp, Huntington Ingalls Industries, Brunswick Corporation, Dickinson, Canada Goose Holdings, Kirby Corp, WEC Energy Group, WestRock Company, Allegro MicroSystems, Ball Corporation, Broadridge Financial, BrightSphere Investment Group, CMS Energy Corp, Lancaster Colony Corp, Rogers Communications Inc, Sanofi, Apple, Atlassian Corporation, United States Steel Corp, Corp, Adtalem Global, Homes, DXC Technology Company, Eastman Chemical Company, Gen, Post Holdings, America, Columbia Sportswear Company, Exxon Mobil Corp, Chevron Corporation, Myers Squibb Co, CIGNA Corp, Regeneron Pharmaceuticals, Charter Communications, AON, Cboe, Dwight, Banco Santander, Jim Cramer's Charitable, CNBC, Apple Vision, Getty Locations: China, East, United States, Europe, Cleveland, Alexandria, California, Corning, Canadian Pacific, Teradyne, TER, Novo, Hanover, PBI, Skechers U.S.A, Bristol, Chile

☆ ‘I Want Everything.’ The Pugnacious, Arm-Twisting CEO
▼ + stars: | 2023-12-01 | by ( Bob Tita | ) www.wsj.com time to read: 1 min

Veteran Brazilian steel executive Lourenco Goncalves has a booming voice. He’s used it to demand customers buy more steel and to dress down analysts who’ve dared to critique his company’s performance. In the past three years, he’s shouted his way to the top of the U.S. steel industry. Goncalves, 65, is on the precipice of the boldest move of his career: acquiring 122-year-old United States Steel. If he prevails, the deal would reshape the U.S. steel industry, making Cleveland-Cliffs —an iron ore mining company just a few years ago—the largest domestic steelmaker by volume and the 10th largest in the world.

Persons: Lourenco Goncalves, He’s, who’ve, he’s, Goncalves Organizations: United States Steel Locations: U.S, Cleveland

☆ Goodyear tune-up may go beyond rotating the tires
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

Aug 20, 2023; Watkins Glen, New York, USA; A detailed view of Goodyear Eagle racing tires prior to the Go Bowling at The Glen at Watkins Glen International. Mandatory Credit: Matthew O'Haren-USA TODAY Sports Acquire Licensing RightsNEW YORK, Nov 15 (Reuters Breakingviews) - A century is a long time to accumulate bad habits. Goodyear Tire & Rubber (GT.O) on Wednesday said it would try to shed some, by selling $2 billion of assets, streamlining its business and paying down debt. As the $4 billion company tidies itself, it could turn out to be worth more in pieces. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Watkins, Matthew O'Haren, Richard Kramer, Elliott, Goodyear, Jonathan Guilford, taints, Jeffrey Goldfarb, Aditya Sriwatsav, Sharon Lam Organizations: Goodyear Eagle, Watkins Glen International, Reuters, Goodyear Tire &, Elliott Investment Management, Electric, United States Steel, Goodyear, X, Alstom, Thomson Locations: , New York, USA

☆ 3 things to watch in the stock market next week as bond yields hover at 2007 highs
▼ + stars: | 2023-10-21 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +12 min

The usual suspects were to blame — rising bond yields, geopolitical tensions, and oil prices — and will hold the keys to the market this coming week. Earnings are one of the three major themes on the marquee next week, with 10 Club companies reporting. Here are the companies: Danaher (DHR), Microsoft (MSFT), Alphabet (GOOGL), Meta Platforms (META), Veralto (VLTO), Honeywell (HON), Linde (LIN), Amazon (AMZN), Ford (F) and Stanley Black & Decker (SWK). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: —, Jerome Powell, Jim Cramer, Jim, Morgan Stanley, Stanley Black, Decker, Danaher, Veralto, it's, Mark Zuckerberg, We're, Vimal Kapur, Linde, Jim Farley, Ford, FactSet, Powell, WTI, Baker Hughes, Edwards Lifesciences, Northrop, CARR, Davidson, Dr Pepper, Phillips, Jim Cramer's, Michael M Organizations: Dow Jones, Nasdaq, Economic, of New, Treasury, West Texas, Procter, Gamble, 10, Microsoft, Honeywell, Linde, LIN, Health Care, Technology, Communications Services, Google, Meta, Ford, Amazon, United Auto Workers, Atlanta, Wall Street, Hamas, Brent, Strategic Petroleum Reserve, Logitech, Verizon, General Electric, GE, RTX Corporation, Halliburton, HAL, General Motors, Dow Chemical, DOW, Xerox, Texas Instruments, F5 Networks, WM, Boeing, Fisher, Mobile, Hilton, General Dynamics, Norfolk Southern, Otis Worldwide, IBM, KLA, O'Reilly Automotive, Mattel, Whirlpool, Gross, Royal Caribbean Cruises, Hershey Company, United Parcel Service, Southwest Airlines, Altria, Northrop Grumman, Valero Energy Corp, Mastercard, Merck, Co, Myers Squibb, Newmont, Tractor Supply Company, Comcast, Seagate Technology, Boston, Hertz, Carrier, Hasbro, Harley, Intel, Grill, United States Steel, Boston Beer Company, Texas, University of Michigan, Exxon Mobil, Chevron, Charter Communications, Colgate, Palmolive, Newell Brands, Sanofi, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Santiago, Getty Locations: of New York, U.S, Industrials, OpenAI, America, Venezuela, Cleveland, Norfolk, ORLY, Bristol, Brunswick, Oshkosh, New York City

☆ Sen. Tommy Tuberville is worth at least $4.5 million, according to his financial disclosures
▼ + stars: | 2023-09-02 | by ( Madison Hall | ) www.businessinsider.com time to read: +5 min

After a 36-year college football coaching career, Sen. Tommy Tuberville joined the Senate in 2021. According to his latest financial disclosure, his wealth is estimated to be at least $4.5 million. AdvertisementAdvertisementAccording to a recent Washington Post report, Tuberville has sold his land in Alabama for close to $1.1 million and the condo for $850,000. When asked about his reported investments, Tuberville's press secretary told Insider that he has financial advisors do his day-to-day trading for him. While it's not listed on his financial disclosure, Tuberville earns $174,000 each year from the government as a current US Senator.

Persons: Sen, Tommy Tuberville, Tommy Tuberville's, he's, Suzanne, Tuberville, Johnson, it's, trouncing, Jeff Sessions, Doug Jones, Tuberville's Organizations: Senate, Service, United States Steel Corporation, Apple, Agriculture, Nutrition, Pfizer, Johnson, Alabama —, University of Miami, Warner Bros, American Express, GOP, Senate Armed Services Committee, Pentagon Locations: Wall, Silicon, Dadeville , Alabama, Florida, Washington, Alabama, Forestry

☆ Bob Tita — Reporter at The Wall Street Journal
▼ + stars: | 2023-08-19 | by ( Bob Tita | ) www.wsj.com time to read: +1 min

Bob TitaBob Tita covers manufacturing and metals industries from The Wall Street Journal’s Chicago bureau. He writes about the business strategies and markets of major U.S. manufacturers, including Caterpillar Inc., Deere & Co. and United States Steel Corp. He covers the intersection of public and private companies and their customers in supply chains, recycled commodity markets and industrial transportation networks. Bob joined Dow Jones in 2009 after covering manufacturing for Crain’s Chicago Business and equity futures and options markets for BridgeNews. He has a Bachelor’s degree in journalism from Southern Illinois University and a Master’s degree in public affairs reporting from University of Illinois at Springfield.

Persons: Bob Tita Bob Tita, Bob, Dow Jones Organizations: Caterpillar Inc, Deere, Co, United States Steel Corp, Crain’s Chicago Business, BridgeNews, Southern Illinois University, University of Illinois, LinkedIn, Twitter Locations: Chicago, U.S, Michigan, Indiana, Springfield

News of Trump’s fourth indictment broke late Monday, so most of Trump’s top rivals for the GOP nomination have not yet weighed in on the Georgia charges. “Over a year ago, I said that Donald Trump’s actions disqualified him from ever serving as President again. Those words are more true today than ever before.”Two, businessman Vivek Ramaswamy appeared on a live town hall on NewsNation as the news of Trump’s indictment broke. Trump trial: New York state Supreme Court Judge Juan Merchan refused to recuse himself from Trump’s hush money case. The announcement comes as the party has been locked in a legal battle with the state over the nominating contest, with the state GOP looking to reinstate the caucus.

Persons: Asa Hutchinson, Hutchinson, ” Hutchinson, Donald Trump’s, Vivek Ramaswamy, Alex Tabet, ”, ” Ramaswamy, Bob Iger, DeSantis, Juan Merchan, Sam Brown’s, Jeffrey Gunter, General, GOP Sen, Mitt Romney, Marjorie Taylor Greene, Leavitt, Karoline Leavitt Organizations: GOP, Arkansas Gov, Trump, NBC, Disney, CNBC, House, Sirius XM Holdings Inc, United States Steel Corp, Florida Republicans, Nevada Republican Party, CNN, Nevada GOP, Sam Brown’s PAC, Republicans, U.S, Mitt, Utah Senate, Politico, New Hampshire’s, Congress, MAGA Inc Locations: Georgia, Arkansas, United States, America, ”, Congress, New York, Nevada, Iceland, Utah

☆ Union leader: Cleveland-Cliffs is the best strategic buyer of U.S. Steel
▼ + stars: | 2023-08-14 | by ( Bianca Flowers | Thomson Reuters | Bianca Flowers Is An Award-Winning Multimedia Journalist Based In Chicago Where She Reports On The Backbone Of The U.S. Labor Market. She Covers Agriculture | ) www.reuters.com time to read: +1 min

Steel workers at U.S. Steel Granite City Works in Granite City, Illinois, U.S., May 24, 2018. REUTERS/Lawrence Bryant/File PhotoCHICAGO, Aug 14 (Reuters) - The United Steelworkers (USW) international president said on Monday that the union supports North American steel producer Cleveland-Cliffs' bid to acquire rival, United States Steel Corp (X.N), adding that the company is the best strategic buyer. "Cliffs is committed to the blast furnace segment of the steel market and U.S. Steel is not," the union's international president, Thomas Conway told Reuters in an interview. The United Steelworker's collective bargaining agreement with U.S. Steel outlines that the company has to take union leadership voices into account for acquisition bids. U.S. Steel has said that it received "multiple unsolicited proposals."

Persons: Lawrence Bryant, Thomas Conway, Conway, Bianca Flowers, Tomasz Janowski Organizations: U.S . Steel, U.S . Steel Granite City, REUTERS, United Steelworkers, United States Steel Corp, Steel, U.S, Reuters, Thomson Locations: U.S . Steel Granite, Granite City , Illinois, U.S, Cleveland, Chicago

☆ Three-Stock Lunch: Tesla, Okta & U.S. Steel
▼ + stars: | 2023-08-14 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: Tesla, Okta & U.S. SteelVictoria Greene, G Squared Private Wealth CIO, joins 'Power Lunch' to discuss three stocks: Tesla, Okta, and United States Steel Corp.

Persons: U.S . Steel Victoria Greene Organizations: U.S . Steel, Private Wealth, United States Steel Corp

☆ Cleveland-Cliffs stock surges after a rejected buyout offer. Here's how the pros are playing it
▼ + stars: | 2023-08-14 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCleveland-Cliffs stock surges after a rejected buyout offer. Here's how the pros are playing itJim Cramer, Jim Lebenthal of Cerity Partners and Stephanie Link of Hightower Advisors discussed Cleveland-Cliffs after United States Steel rejected a $7.3 billion buyout offer from Cleveland-Cliffs.

Persons: Jim Cramer, Jim Lebenthal, Stephanie Link, Hightower Organizations: Cerity Partners, Hightower Advisors, Cliffs, United States Steel Locations: Cleveland

☆ US Steel to explore strategic alternatives after unsolicited bids
▼ + stars: | 2023-08-13 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: Steel workers at U.S. Steel Granite City Works in Granite City, Illinois, U.S., May 24, 2018. REUTERS/Lawrence Bryant/File Photo(Reuters) -United States Steel said on Sunday it is initiating a formal review to evaluate strategic alternatives for the steel producer after receiving multiple unsolicited bids for part or all of its business. The review was begun after the steel producer received “multiple unsolicited proposals that ranged from the acquisition of certain production assets to consideration for the whole company,” CEO David Burritt said in a statement, without disclosing details about the strategic alternatives. Barclays Capital and Goldman Sachs are serving as financial advisors to U.S. Steel, while Milbank LLP and Wachtell, Lipton, Rosen & Katz are acting as legal advisors, the steel producer said. U.S. Steel also expects to complete about $75 million of repurchases of common stock in the second quarter under its existing $500 million stock buyback authorization.

Persons: Lawrence Bryant, David Burritt, Goldman Sachs, Milbank, Lipton, Katz Organizations: U.S . Steel, U.S . Steel Granite City, REUTERS, United States Steel, Barclays Capital, Milbank LLP, Wachtell, Rosen, . Steel Locations: U.S . Steel Granite, Granite City , Illinois, U.S

☆ U.S. Steel explores options after rejecting $7.3 billion offer from Cleveland-Cliffs
▼ + stars: | 2023-08-13 | by ( Jyoti Narayan | Akanksha Khushi | ) www.reuters.com time to read: +3 min

(Reuters) -United States Steel Corp on Sunday launched a formal review of its strategic options, after rebuffing a takeover offer from rival steelmaker Cleveland-Cliffs Inc. FILE PHOTO: Steel workers at U.S. Steel Granite City Works in Granite City, Illinois, U.S., May 24, 2018. REUTERS/Lawrence Bryant/File PhotoThe unsolicited cash-and-stock offer from Ohio-based Cliffs values U.S. Steel at about $7.3 billion, representing a 43% premium to its closing price on Friday. Cliffs said its offer to acquire U.S. Steel had received the support of the United Steelworkers union, which is North America’s largest steel industry union. In a separate statement later Sunday, U.S. Steel confirmed it received an offer from Cliffs and other interested parties.

Persons: rebuffing, steelmaker, Lawrence Bryant, ”, Lourenco Goncalves, Davis Polk, Milbank, Lipton, Katz Organizations: Reuters, United States Steel Corp, Sunday, Cliffs, U.S . Steel, U.S . Steel Granite City, REUTERS, Steel, U.S, China . U.S . Steel, AK Steel Holding Corp, United Steelworkers, Company, UBS, Wardwell, . Steel, Barclays Capital, Goldman Sachs Group, Milbank LLP, Wachtell, Rosen Locations: steelmaker Cleveland, U.S . Steel Granite, Granite City , Illinois, U.S, Ohio, China . U.S, steelmaker, North, Wells Fargo, J.P.Morgan, Cleveland

☆ US Steel receiving acquisition offers as company promises to maximize stockholder value
▼ + stars: | 2023-08-13 | by ( Jennifer Korn | ) edition.cnn.com time to read: +2 min

New York CNN —United States Steel Corp. (X) is considering a sale after fielding acquisition offers, according to a news release Sunday from the company. The steel producer is under a formal review process after “receiving multiple unsolicited proposals” for both specific assets and the entire firm, the release announced. The company and the rest of the domestic steel industry were supposed to get help from a 25% tariff on steel imports put in place in 2018 by the Trump administration. Prices retreated and problems returned to the industry thanks to stockpiling, as well as slowdowns in the auto, energy and construction sectors. The drop in demand, combined with the increased American production, caused a glut in supply and a sharp drop in prices leaving the steel industry hurting in the years since.

Persons: ” David Burritt, Goldman Sachs, Milbank, Wachtell, Lipton, Katz, Donald Trump, Trump, we’ve, Burritt Organizations: New, New York CNN — United States Steel Corp, “, Steel’s, CNN, Barclays Capital, Rosen, US Steel Corp, US Steel Locations: New York, China

☆ What we hope to see from 9 Club stocks out with earnings in the week ahead
▼ + stars: | 2023-07-22 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

Looking to next week, earnings season will ramp up — and though we'll get some important economic data, expect the corporate releases and management commentary on the post-game calls to be firmly in the driver's seat. Here are two important things to know for the week ahead. Quarterly earnings : As important as economic releases are, it's earnings that will garner the bulk of investors' attention. For those looking to review first-quarter performance ahead of these releases, keep our first-quarter earnings report card handy. Here's the full rundown of all the important domestic data in the week ahead.

Persons: Dow, we'll, we've, Lawrence Yun, Jerome Powell's, Sartorius, Sartorius preannounced, It's, management's, We'll, Tesla, Ford's, Sherwin, Williams, Archer, Clark, Lam, Edwards Lifesciences, Hewlett, Northrop, Dr Pepper, Davidson, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Economic, National Association of Realtors, Nine, GE Healthcare, Microsoft, YouTube, Linde, LIN, Honeywell, Aerospace, Technologies, Ford, Procter & Gamble, Dynex, HBT, Hope Bancorp, NXP Semiconductors, Cadence Design Systems, Whirlpool, Logitech International, Liberty Global, Verizon Communications, General Motors, General Electric, GE, Spotify, Raytheon Technologies, Daniels, Midland, Albertsons Companies, ACI, Polaris Industries, Inc, Dow Chemical, DOW, Xerox, Texas Instruments, WM, Canadian National Railway Company, Chubb Corporation, Universal Health Services, Powell, Boeing, Hilton, Union Pacific, General Dynamics, Quest Diagnostics, Otis Worldwide, Grill, Lam Research, eBay, EBAY, Mattel, Hewlett Packard, L3Harris Technologies, Gross, Royal Caribbean Cruises, Southwest Airlines, Mastercard, Myers Squibb, Northrop Grumman, Hertz, Tractor Supply Company, HCA Healthcare, Boston, Hershey, Comcast, Harley, Norfolk Southern, Intel, Mobile, United States Steel Corp, KLA Corporation, Boston Beer Company, Nation Entertainment, Texas, Procter, Gamble, Exxon Mobil, Chevron, Charter Communications, AstraZeneca, Colgate, Palmolive, Newell Brands, Sanofi, Dwight, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: U.S, Hollywood, Cleveland, Corning, Kimberly, Bristol, Norfolk

☆ Steel Companies’ Profits Hurt by Falling Prices
▼ + stars: | 2022-10-30 | by ( Bob Tita | ) www.wsj.com time to read: 1 min

Cleveland-Cliffs steel mill in Cleveland; the company is the largest U.S. supplier of steel to the auto industry. Steel prices in the U.S. have fallen to the lowest level in two years, shrinking steel companies’ profits but giving manufacturers hope for lower material costs. Cleveland-Cliffs Inc., United States Steel Corp., Nucor Corp. and Steel Dynamics Inc. reported significantly lower profits from their steelmaking operations during the quarter that wrapped up at the end of September, compared with the same period last year when prices were at record levels.

☆ Steelworkers Union Approves Contract With Cleveland-Cliffs
▼ + stars: | 2022-10-13 | by ( Bob Tita | ) www.wsj.com time to read: 1 min

The United Steelworkers union has ratified a four-year contract with steelmaker Cleveland-Cliffs while it remains divided with United States Steel Corp. over wages and other major issues, the union said. United Steelworkers, which represents more than 20,000 hourly workers at the two companies, said the contract with Ohio-based Cleveland-Cliffs delivers improved wages, insurance and pension benefits, issues that workers are also pushing for in talks with U.S. Steel at a time when profits for steelmakers have boomed.

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