Today’s Research Reports on Trending Tickers: AK Steel Holding and United States Steel
U.S. markets were mixed Wednesday as weakness in mining and energy stocks offset a rally from the technology sector. The Dow Jones Industrial Average dropped 0.16 percent close at 24,140.91, while the S&P 500 Index declined 0.01 percent to close at 2,629.27. The Nasdaq Composite Index rose 0.21 percent to close at 6,776.38. Energy stocks slumped as crude oil prices slid 2.9 percent on Wednesday. The tech rally was led by Facebook, with a gain of 1.87 percent, after analysts at Evercore ISI initiated coverage on the company with an “outperform rating.
"Today’s leading tech companies are leveraging the internet to disrupt and take profits from large established industries, a dynamic that is driving real earnings and free cash flow growth," wrote DiClemente wrote Evercore ISI analyst, in a note to clients on Tuesday. "Beyond that, smartphone ubiquity, the transition from offline to digital marketplaces, and continued growth in user adoption of emerging/established digital platforms are providing fuel for the next legs of growth."
RDI Initiates Coverage on:
AK Steel Holding Corporation
United States Steel Corporation
AK Steel Holding Corporation’s stock moved 4.36% higher Wednesday, to close the day at $5.03. The stock recorded a trading volume of 21,364,613 shares, which was above its three months average volume of 16,361,140 shares. In the last year, AK Steel Holding Corporation’s shares have traded in a range of 4.00 – 11.39. The share price has gained 25.75% from its 52 week low. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $4.96 is below its 200-day moving average of $5.62. Shares of the company are trading at a Price to Earnings ratio of 27.79. Shares of AK Steel Holding have gained roughly 15.63 percent in the past month and are down 50.73 percent year-to-date.
Access RDI’s AK Steel Holding Corporation Research Report at:
On Wednesday, shares in United States Steel Corporation recorded a trading volume of 17,775,384 shares, which was above the three months average volume of 11,164,357 shares. The stock ended the day 4.29% higher at 31.11. The share price has gained 67.71% from its 52 week low with a 52 week trading range of 18.55 – 41.83.The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $27.80 is greater than its 200-day moving average of $24.72. Shares of the company are trading at a Price to Earnings ratio of 44.44. Shares of United States Steel have gained roughly 13.09 percent in the past month and are down 5.76 percent year-to-date.
Access RDI’s United States Steel Corporation Research Report at:
Our Actionable Research on AK Steel Holding Corporation (NYSE:AKS) and United States Steel Corporation (NYSE:X) can be downloaded free of charge at Research Driven Investing.
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