SI
SI
discoversearch

Strategies & Market Trends : 50% Gains Investing

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Investor Clouseau who wrote (118644)7/3/2017 4:33:01 PM
From: Investor Clouseau of 118663
 
seems like AKS should be in a good position to benefit from an upturn in the economy. the auto's were up today on news that was less bad than expected. i don't know if it will be enough to get all the shorts to cover though.

8:10 ET - AK Steel (AKS) moves further downstream in its first acquisition in more than two years, announcing a deal to buy Precision Partners Holding for $360M in cash. AKS's deal for Precision, a producer of stamped steel automobile components, deepens the Cincinnati-area steelmaker's ties to the automotive sector, which accounted for 66% of overall revenue in 2016, rising from 60% in 2015 and 53% in 2014. AKS executives in the last few years have talked about the importance of developing new steel products that are lighter weight, but are still strong enough to meet auto safety standards. AKS, which reported $185.7M in cash as of March 31, plans to finance the deal, expected to close in 3Q, with debt and equity. (bowdeya.tweh@wsj.com; @BowKnowsBiz)
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

Copyright © 1995-2017 Knight Sac Media. All rights reserved.Stock quotes are delayed at least 15 minutes - See Terms of Use.