Are Steel Dynamics, Inc (STLD), The Western Union Company (WU) and Cliffs Natural Resources Inc (CLF) Ripe For Significant Gains?
New York, NY – GDP INSIDER – 03/19/2015.
This article discusses three companies: Steel Dynamics Inc (NASDAQ:STLD), The Western Union Company (NYSE:WU) and Cliffs Natural Resources Inc (NYSE:CLF)
Steel Dynamics, Inc (NASDAQ:STLD) rose 8.83% or $1.65 to close at $20.27 yesterday on very heavy trading of 9.41 million shares. The strong rally came even after the steel producer revised its earnings forecast for the first quarter of 2015 downwards between $0.09 and $0.12 per share compared to previous estimates of $0.22. The market’s positive reaction was mainly due to Steel Dynamics announcing that its domestic steel product pricing has now fallen far enough for its products to be competitive across the globe, making it a good hold and potential buy.
The Western Union Company (NYSE:WU) made slight gains yesterday with the stock climbing 0.26% or $0.05 to close at $19.35 on very active trading of 11.123 million shares.. The global money movement and payment services company has been trading near its 52 week high of $20.10 since the beginning of the month, but despite announcing that its Australian subsidiary can now issue Mastercards, it failed to make significant gains yesterday as foreign exchange concerns are affecting other aspects of its business. Until the currency markets calm down it is better to hold than buy for now.
Cliffs Natural Resources Inc (NYSE:CLF) was on a rollercoaster ride yesterday with the stock falling from $4.54 down to $4.13 before rallying again to close up 0.88% or $0.04 at $4.58, with more than 8.876 million shares changing hands compared to its three month average trading volume of 0.702 million. The decline began when Cliffs Natural Resources Inc announced it was reducing its outlook for 2015 prices due to the global oversupply of iron ore. Despite this, the stock began to rally late in the day and with RSI of 21.46 it is a strong hold.
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