During Friday’s Morning trade, Shares of Steel Dynamics, Inc. (NASDAQ:STLD), gained 0.41% to $17.08.
Steel Dynamics, the company offered fourth quarter 2015 earnings guidance in the range of $0.03 to $0.07 per diluted share, contrast to sequential third quarter 2015 earnings of $0.25 per diluted share and prior year fourth quarter adjusted earnings of $0.40 per diluted share, which excluded non-cash fixed asset impairment charges related to the company’s Minnesota Operations and certain post-acquisition costs related to the company’s Columbus steel mill acquisition.
Despite lower earnings, the company anticipates to still generate cash flow from operations in excess of $200 million during the fourth quarter 2015, which would result in record high liquidity at the end of 2015.
The company is presently in the process of conducting its required annual assessment of goodwill and indefinite-lived intangible asset valuation and based on step one of the two-stepped process, believes that the carrying values associated with its metals recycling operations are impaired. However, step two of the analysis is still underway and a reasonable range of impairment has not yet been determined. Accordingly, no potential asset impairment has been comprised in the offered fourth quarter 2015 guidance.
Steel Dynamics, Inc., together with its auxiliaries, manufactures and sells steel products, processes and sells recycled ferrous and nonferrous metals, and fabricates and sells steel joist and decking products in the United States and internationally.
Shares of Suncor Energy Inc. (USA) (NYSE:SU), inclined 1.38% to $25.75, during its current trading session.
Suncor Energy, declared it has extended its offer to Canadian Oil Sands Limited (“COS”) shareholders. Suncor will file a corresponding notice of extension to formally extend the expiry time of its offer to 6:00 p.m. MT (8:00 p.m. ET) on Friday, January 8, 2016.
“Our offer is full and fair and in the best interests of COS shareholders,” said Steve Williams, Suncor’s president and chief executive officer. “This process has always been about allowing COS shareholders to decide for themselves on the merits of our offer. The good news is that they will finally have their say.”
Since Suncor first expressed interest in acquiring COS, the oil market outlook has worsened, COS has stated negative free cash flow for the first nine months of 2015 and most recently declared an optimistic production outlook for 2016 that seems destined to continue COS’ track record of overpromising and under-delivering. Despite continuous claims and promises to the contrary, COS has failed to produce any viable alternative for its shareholders.
Suncor Energy Inc. operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada’s Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada; and markets third party petroleum products.
Finally, Computer Sciences Corporation (NYSE:CSC), gained 0.03%, and is now trading at $31.39.
Computer Sciences Corporation, declared it has signed a contract with UK start-up bank Atom to provide ConfidentID™, CSC’s mobile user authentication service powered by IdentityX™, to ensure secure mobile and online banking. Terms of the agreement were not revealed.
ConfidentID™ will be integrated into Atom’s digital banking application, which will be the only channel for accessing the new bank’s products and services, counting current accounts, savings accounts, mortgages and loans. Employing high security levels, the software allows organisations to customize the level of authentication based on a transaction’s value and the bank’s risk administration strategies.
ConfidentID provides efficient, reliable, identity authentication for mobile, online and other transactions using a combination of passwords, PINs, biometrics and other techniques. It has the capability to eliminate passwords to provide an improved customer experience.
Computer Sciences Corporation provides information technology (IT) and professional services and solutions primarily in North America, Europe, Asia, and Australia. The company operates through Global Business Services, Global Infrastructure Services, and North American Public Sector segments.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.