On Wednesday, Steel Dynamics, Inc. (NASDAQ:STLD)’s shares declined -2.73% to $19.63.
Steel Dynamics, Inc. (STLD) the company offered second quarter 2015 adjusted earnings guidance in the range of $0.20 to $0.24 per diluted share
Estimated second quarter adjusted earnings are higher than sequential first quarter 2015 adjusted earnings of $0.17 per diluted share and lower than prior-year second quarter earnings of $0.31 per diluted share. Counting the above items, earnings guidance for the second quarter 2015 is in the range of $0.11 to $0.15 per diluted share.
Profitability from the company’s steel operations for the second quarter 2015 is predictable to be similar in comparison to the sequential first quarter 2015 results. Improved second quarter 2015 shipments will be offset by unpredictable metal margin compression, driven by steel imports remaining much higher than originally anticipated, resulting in average quarterly steel prices decreasing more than average quarterly scrap prices. The benefit of reduced scrap pricing was realized in the second quarter; but, the continued flood of steel imports thus far in 2015 continued to pressure steel product pricing to a greater degree. However, steel pricing has recently begun to stabilize and domestic steel demand remains solid.
Continued demand for the company’s fabricated steel joist and decking products indicates the non-residential construction market is ongoing a positive trend. Second quarter 2015 profitability from the company’s fabrication operations is predictable to be higher than near-record sequential first quarter 2015 results.
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. The company operates in three segments: Steel Operations, Metals Recycling and Ferrous Resources Operations, and Steel Fabrication Operations. The Steel Operations segment provides a range of sheet steel products, such as hot roll, cold roll, and coated steel products; structural steel beams and pilings to construction market; various rail products for the railroad industry; rounds, round-cornered squares, and round engineered bars; angles, plain rounds, flats, channels, and billets; and merchant beams, channels, and specialty structural steel sections.
Navistar International Corp (NYSE:NAV)’s shares dropped -7.34% to $19.06.
American Intermodal Container Manufacturing Company, LLC (AICM) announced it has entered into a long-term manufacturing agreement with Navistar Inc. (NYSE: NAV) to jointly produce high-tensile steel 53-foot domestic shipping containers at the company’s Barton Riverfront Industrial Plant in Cherokee, Alabama.
Formed in 2012, AICM has partnered with Centerline (Windsor) Limited which has designed and is presently in the build-phase of an advanced robotic welding and fully integrated assembly production system with the capacity to produce more than 15,000 domestic containers annually. The manufacturing process also comprises an environmentally safe and highly advanced paint system with an on-site paint shop and fully operational blast shot and dry sheds, featuring the latest in automated application technology and a rigorous quality assurance program.
Navistar International Corporation manufactures and sells commercial and military trucks, diesel engines, and school and commercial buses; and provides service parts for trucks and diesel engines worldwide. It operates through four segments: North America Truck, North America Parts, Global Operations, and Financial Services.
At the end of Wednesday’s trade, MGIC Investment Corp. (NYSE:MTG)‘s shares dipped -0.62% to $11.15.
MGIC Investment Corp. (MTG) continued its streak of strong operating statistics, seen over several months, in May 2015. The trend reflects a decline in the delinquency level and an improvement in new business written.
Primary new insurance written for May 2015 was $3.7 billion, up 32% year over year and 2.8% sequentially.
Delinquency loans (loans that failed to pay back) at MGIC Investment witnessed an improvement on a year-over-year basis. Delinquent inventory for the month under review was 68,224, down 21% year over year and 2% sequentially.
Established in 1957, MGIC Investment is the nation’s oldest private mortgage insurer, with insurance in force of $164.9 billion.
The company which was devastated by the 2008 financial crisis is crawling back. Its fortunes have been shored up by declining delinquencies and improving cure rates on claims from its legacy business. The prospects of the company also look bright on its growing book of high-credit-quality business written since 2009.
MGIC Investment Corporation, through its auxiliaries, provides private mortgage insurance and ancillary services to lenders and government sponsored entities in the United States. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, in addition to covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure; and pool insurance coverage, which covers the excess of the loss on a defaulted mortgage loan that exceeds the claim payment under the primary coverage.
Zoetis Inc (NYSE:ZTS), ended its Wednesday’s trading session with -2.86% loss, and closed at $46.49.
Zoetis Inc. (ZTS) will host a webcast and conference call at 8:30 a.m. (EDT) on Tuesday, Aug. 4, 2015. Chief Executive Officer Juan Ramón Alaix and Executive Vice President and Chief Financial Officer Paul Herendeen will review second quarter 2015 financial results and respond to questions from financial analysts during the call.
Zoetis Inc. engages in the discovery, development, manufacture, and commercialization of animal health medicines and vaccines for livestock and companion animals worldwide. The company operates through four segments: the United States; Europe/Africa/Middle East; Canada/Latin America; and Asia/Pacific. It offers anti-infectives that prevent, kill, or slow the growth of bacteria, fungi, or protozoa; vaccines that are biological preparations to prevent diseases of the respiratory, gastrointestinal, and reproductive tracts or induce a specific immune response; and parasiticides that prevent or eliminate external and internal parasites, such as fleas, ticks, and worms.
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