Wednesday, April 7, 2010 as of 11:14 AM ET
The United States Steel Corporation (), more commonly known as U.S. Steel, is an integrated steel producer with major production operations in the United States, Canada, and Central Europe.
Read More at Wikipedia ›RG Steel said it will idle its steel mills and lay off most employees after creditors suspended funding of the cash-strapped company's day-to-day operations.
The company has been "confronted with an immediate, unexpected liquidity crisis," Thomas Cera, general manager of RG Steel's plants in Warren, Ohio, and Wheeling, W. Va., said in a letter to officials with the United Steelworkers, the union representing company employees.The letter, dated Wednesday and first posted on the website of Ohio Valley television station WTOV, was confirmed by RG Steel spokeswoman Bette Kovach. RG Steel also operates a mill in Sparrows Point, Md.Kovach said shutdowns and layoffs, which will include all three of RG's main facilities, will begin in June. Some employees will be kept on afterward to guard company property, she said.The company, a unit of conglomerate Renco Group Inc., confirmed this week that it was considering selling one or more of its mills. Early this month, it announced an acceleration of...Shares of mining and metals companies were among the top S&P 500 gainers early Thursday. Iron-ore miner Cliffs Natural Resources rose 5% to $70.23. Copper producer F...
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Investors on Monday bid up shares of US Steel and AK Steel . US Steel rose 5% to $31.30 in early Monday trades, making it the leading percentage gainer on the S&P 50...
Following in the footsteps of another steelmaker, Steel Dynamics (NASDAQ:STLD) warned Wall Street on Friday it expects to generate first-quarter earnings that will m...
DOW JONES NEWSWIRESNucor Corp. (NUE) said it expects first-quarter earnings at the low end of its expectations due to pricing pressures and unexpected margin weaknes...
U.S. Steel Corp. said Tuesday it revised its fourth-quarter results to reflect a smaller loss for the period because of pricing adjustments to iron ore pellets in 20...
U.S. Steel Corp. said Tuesday its fourth-quarter loss narrowed to $226 million, or $1.57 a share, from a loss of $249 million, or $1.74 a share, in the year-ago peri...
U.S. stocks edged lower Monday as investors fixed their attention on the standoff between Greece and its private creditors and a surge in Portugal's borrowing costs....
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Steels stocks took part in the broader market advance early Friday, with shares of AK Steel Holding Corp. , U.S. Steel Corp. and Nucor Corp. all gaining about 3%. Al...
RG Steel has warned employees of impending layoffs, the closely held steelmaker said in a statement Thursday.The company, a unit of conglomerate Renco Group Inc., co...
Martin Marietta Materials shares sank 8% to $68.60 Wednesday after well-regarded investor David Einhorn spoke critically of the company at the Ira Sohn Investor Conf...
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United States Steel Corp. said Tuesday its first-quarter loss increased to $219 million, or $1.52 a share, from $86 million, or 60 cents a share, in the year-ago per...
The Basic Materials sector (XLB) held steady during a trading day that saw the S&P 500 grow 1.3%.The ETF, as a proxy for the sector, tracked farther from the overall...
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