On Thursday, Steel Dynamics, Inc. (NASDAQ:STLD)’s shares declined -1.97% to $20.45.
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.
AuRico Gold Inc (NYSE:AUQ)’s shares gained 3.62% to $2.86.
Alamos Gold Inc. and AuRico Metals Inc. declared the completion of the formerly declared arrangement involving Alamos Gold Inc. (AGI) and AuRico Gold Inc. (AUQ). Following the Arrangement, Former Alamos and Former AuRico amalgamated to form Alamos, and certain assets of Former AuRico, counting the Kemess project, certain royalties and cash, were transferred to AuRico Metals. About 95.1% of the common shares of AuRico Metals (“AuRico Metals Shares”) were distributed to Former Alamos and Former AuRico shareholders. Following completion of the Arrangement, Alamos holds an equity interest of about 4.9% in AuRico Metals.
Under the terms of the Arrangement, each Former Alamos share held was ultimately exchanged for 1 Class A common share of Alamos (“Class A Shares”), US$0.0001 in cash, and 0.4397 AuRico Metals Shares, and each Former AuRico share held was ultimately exchanged for 0.5046 Class A Shares and 0.2219 AuRico Metals Shares. Upon closing, Alamos has about 255,505,000 Class A Shares outstanding with Former Alamos and Former AuRico shareholders each owning about 50% and AuRico Metals has about 118,120,000 shares outstanding with Former Alamos and Former AuRico shareholders each owning about 50% of the shares not held by Alamos.
AuRico Gold Inc. operates as a gold producer with mines and projects in North America. Its principal projects comprise the Young-Davidson gold mine compriseing of contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada; and the El Chanate mine comprising 22 mineral concessions that cover an area of about 4,618 hectares located in Sonora State, Mexico. The company was formerly known as Gammon Gold Inc. and changed its name to AuRico Gold Inc. in June 2011. AuRico Gold Inc. was founded in 1986 and is headquartered in Toronto, Canada.
At the end of Thursday’s trade, Manulife Financial Corporation (USA) (NYSE:MFC)‘s shares dipped -0.96% to $18.54.
Manulife Financial Corporation declared that its U.S. Division (John Hancock Financial) has successfully accomplished its formerly declared reinsurance transaction through which New York Life has assumed, on a reinsurance basis, a net 60 percent interest in John Hancock’s in-force participating life insurance closed block, which was written prior to John Hancock’s demutualization in 2000. John Hancock will continue to service the policies and there will be no change in contract terms or policyholder benefits as a result of the reinsurance.
The reinsurance transaction was declared on December 23, 2014, together with a contract under which John Hancock would acquire New York Life’s Retirement Plan Services (RPS) business. The acquisition of the Retirement Plans Services business closed on April 14, 2015.
Manulife Financial Corporation, together with its auxiliaries, provides financial protection and wealth administration products and services to individual, corporate, and business customers primarily in Asia, Canada, and the United States. It offers various individual life and health insurance, and individual and group long-term care insurance products through insurance agents, brokers, banks, financial planners, and direct marketing.
Foot Locker, Inc. (NYSE:FL), ended its Thursday’s trading session with -0.68% loss, and closed at $67.51.
Foot Locker, Inc. (FL) the New York-based specialty athletic retailer, declares its partnership with ASICS America Corporation to launch its “Real Lives. Real Runners.” campaign, ahead of the 2015 TCS New York City Marathon. Whether it’s a mile or a marathon, all runners have a story, and this campaign will provide a platform to capture and share their stories.
Building on the successful 2014 “All Runners Welcome” campaign from Foot Locker and ASICS, “Real Lives. Real Runners.” invites filmmakers to identify authentic runners and document in a short film why they run and how running impacts their lives. The winning film will air nationally during the television broadcast of the 2015 TCS New York City Marathon, and the winning filmmaker will receive a cash prize from MOFILM, plus an all-expenses paid trip to Los Angeles for the annual MOFILM Awards.
Filmmakers can submit up to a three-minute piece, celebrating runners from all walks of life, with shortened versions of 30 and 60 seconds. Deadline for submissions is Sept. 7, 2015. For more information, entrants should visit MOFILM.com.
Foot Locker, Inc. operates as an athletic shoes and apparel retailer. The company operates in two segments, Athletic Stores and Direct-to-Customers. The Athletic Stores segment retails athletic footwear, apparel, accessories, and equipment under various formats, counting Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Footaction, and SIX:02, in addition to Runners Point, and Sidestep. As of January 31, 2015, it operated 3,423 primarily mall-based stores in the United States, Canada, Europe, Australia, and New Zealand. The Direct-to-Customers segment sell athletic footwear, apparel, equipment, team licensed products, and private-label merchandise through Internet Websites, mobile sites, and catalogs.
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