Market Realist is a registered trademark. Given CLF’s stronger balance sheet, it expects to refinance AK Steel’s debt at better terms and also push out upcoming maturities. AKS also has a good amount of near-term debt maturities. Returns as of 05/14/2021. If a company is bought, what happens to stock depends on several factors. But why is that? Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. As mentioned, the SPAC IPO process is faster and requires fewer steps. Notably, Moody’s is reviewing CLF’s credit rating for a downgrade but sees the transaction as credit positive for AK Steel. This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. Notably, while U.S. Steel (X) has its own iron ore mines, AK Steel sources steel from third parties. by Rich M. January 18, 2021. AK Steel (AKS) shares … For example, in a cash buyout of a company, the shareholders receive a specific dollar amount for each share of stock they own. Stock Advisor launched in February of 2002. 48. In July 2005, the ASKJ ticker was retired upon the acquisition by IAC, valuing at US$1.85 billion. Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. The company then has up to two years to find an acquisition. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of ($0.10) by $0.01. It noted that instead of rising to $555 a ton, as it had hoped, the price of hot rolled coil steel is now looking more like $510 in October. AKS stock is up 2.60% and CLF stock is down 11.40% as of Monday afternoon. Free forex prices, toplists, indices and lots more. In this article, we’ll look at the key details from the conference call. 17 Small-Cap Stocks That Could Double By … Ask Jeeves (ASKJ) stock price, charts, trades & the US's most popular discussion forums. That implies a … Then there are possible new lines of business, like exploring pig iron production at AK Steel’s idled Ashland Works plant. AK Steel stock (AKS) was sinking more than 13% after hours as the company reported its latest earnings results, which missed expectations. After so much bad news, you might think that at least things couldn't get worse -- but then they did. As of this writing, William White did not hold a position in any of the aforementioned securities. Read More Why the Digital Wine Ventures (ASX:DW8) share price is falling Patrick Melville May 11, 2021 The Digital Wine Ventures Limited (ASX: DW8) share price has fallen another 11.43% this morning despite releasing a positive trading update to the market yesterday. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. The stock has pulled back since its January 2021 highs alongside some other Bitcoin mining comps, and general weakness across small-cap names. That’s not unheard of in the steel and iron ore industry, and U.S. Steel and ArcelorMittal (MT) are integrated steel companies having varying degrees of backward integration. Currently, CLF is an iron ore miner supplying US steel companies. View AKS's most recent analyst ratings, analyst estimates and price targets at MarketBeat. Yesterday, CLF announced that it would acquire AKS in a stock-for-stock transaction. That sounds like there will be another disappointment coming in Q4. View AKS's most recent analyst ratings, analyst estimates and price targets at MarketBeat. Currently, CLF is an iron ore minersupplying US steel companies. This does not always happen, however, often depending on the underlying fundamentals of the business. However, we … Cumulative Growth of a $10,000 Investment in Stock Advisor, Why AK Steel Stock Dropped 12% Today @themotleyfool #stocks $AKS, AK Steel’s Rescue Offer Might Not Be Great for Investors, Why Shares of Cleveland-Cliffs Are Plunging Today, Why AK Steel, Kodiak Sciences, and Sorrento Therapeutics Jumped Today, AK Steel and Schnitzer Steel Industries Downgraded, Copyright, Trademark and Patent Information. Here are some of the most important factors to be aware of: 1. AK Steel’s profit margins are also much lower when compared to Cleveland-Cliffs. Should You Buy The Dip In Etsy … The stock followed by taking a 37.6% dive to close at $16.38 (pre-split-adjusted 8.19 cents) on Wednesday. AK Steel, on the other hand, is a steel producer with primarily flat rolled operations. Notably, while U.S. Steel (X) has its own iron ore mines, AK Steel sources steel from third partie… We’re motley! CLF’s current CEO has turned the company around over the last five years, and we expect this experience to benefit AK Steel as well. Cleveland-Cliffs stock has come under short-term pressure. Latest stock price today and the US's most active stock market forums. Berkshire Hathaway operating profit rises, buys back $6.6 billion of its stock. People may receive compensation for some links to products and services on this website. All times are ET. I Opened Some C-Rations From From The Vietnam War And This Is What Happened. U.S. Steel Stock (X) Could Rise More Amid Commodity Supercycle, How Investors Can Play Surging Lumber Prices in 2021, MP Materials (MP) Is an Attractive Play on Rare Earths. Back when I was in the Army, we didn’t have MREs available to us; we were still eating C-Rations, the combat ration that was developed for use in World War II and kept which stayed in … AK Steel, on the other hand, is a steel producer with primarily flat rolled operations. The reorganization plan will spell out your rights as an investor, and what you can expect to receive, if anything, from the company. CLF Buys AK Steel: A Win-Win Transaction? Notably, AK Steel’s 2020 earnings are expected to be lower than in 2019 due to lower contract pricing. Free … The longer-term outlook for the steel market remains solid, so significant pullbacks may be used as buying opportunity. Management warned that it now expects adjusted net income for the year to be just $0.32 to $0.37 per share, versus the $0.42 that Wall Street will be looking for. Investing made simple: The Motley Fool's essential guide to investing is now available to the public, free of cost, at http://bit.ly/1atRpHZ. Ask Jeeves, Inc. stock traded on the NASDAQ stock exchange from July 1999 to July 2005, under the ticker symbol ASKJ. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. As management explained, mark-to-market losses of $15.3 million, or $0.05 per diluted share, from iron ore derivatives dragged down its results in the quarter -- the opposite of what happened in last year's Q3. Here’s what’s happened. SPAC investing has become popular in the last few years. Palantir Stock May Find Its Bottom Here . Once the transaction is completed, the stock is canceled and no longer of value as the company no longer … DOW 34,742.82. If you are a stockholder, the trustee may ask you to send back your old stock in exchange for new shares in the reorganized company. I Opened Some C-Rations From The Vietnam War And This Is What Happened. S&P 500 4,188.43. The company's stock might be reissued to investors. Understanding Chapter 11 Bankruptcy While Chapter 11 can spare a company from declaring total bankruptcy, the … The company, whose name was derived from the initials of Armco, its predecessor company, and Kawasaki Steel Corporation, was acquired by Cleveland-Cliffs in 2020. Offers may be subject to change without notice. In my view, the transaction makes strategic sense, and AK Steel would have more certainty about its iron ore purchases with CLF’s iron ore operations. It's just a matter of economics. © Copyright 2021 Market Realist. For instance, AK Steel has much higher relative debt and pension liabilities. Expected by analysts to report $0.04 per share in profit on sales of $1.65 billion, AK instead reported only $1.54 billion in sales, and a mere $0.01 per share in profit. Yesterday, CLF announced that it would acquire AKS in a stock-for-stock transaction. Any funds withheld from your paycheck that were not used to purchase shares during the next window will … Cleveland-Cliffs stock slumped 10.7% while AK Steel gained 4.2% in yesterday’s trading. If you’re participating in an employee stock purchase plan (ESPP), when you leave the company you will no longer be able to purchase shares in the program. SPAC stock will usually be priced at a standard $10 per share. What happened on Friday? That said, the deal could still make sense for CLF. What happened with GameStop stocks. Individual investors, buoyed by comments in the r/WallStreetBets Reddit community, began driving up the price GameStop on Jan. 11, when changes to … If Company is Bought what Happens to Stock: Everything You Need to Know. After the acquisition, Cleveland-Cliffs would obtain access to AK Steel’s steelmaking operations. Anderson won 12 races in 2003, 15 in 2004, and eight in 2005 and … There are a variety of factors that can impact your equity—from terms that are listed in your individual grant or security to the ones that get negotiated before the deal closes. Should You Buy SLV Stock Before Another Silver Short Squeeze? Most stock quote data provided by BATS. During the call, CLF CEO Lourenco Goncalves said that while the company is acquiring AK Steel at an EV-to-EBITDA of 5.6x, the company’s 2020 EV-to-EBITDA is 8.6x based on consensus earnings estimates. On a broad strategic level, this transaction is a forward integration for CLF. Depending on the employee stock purchase plan, withholding may occur for months before the next pre-determined purchase window. Read CLF Buys AK Steel: A Win-Win Transaction? AK Steel operated eight steel plants and two tube manufacturing plants in Ashland, Kentucky; Butler, Pennsylvania; … Expect more volatility in the future. However, it also produces electrical steel, a niche and a value-added product. After reporting the poor results for Q3, AK proceeded to lower its guidance for the rest of this year. AK Steel Holdings Corporation was a steelmaking company headquartered in West Chester Township, Butler County, Ohio. The strangeness began at the most basic level: actually opening Facebook for trading on Friday. Here’s what happened. Shares of AK Steel (NYSE:AKS) closed down 11.6% on Thursday, one day after the company disappointed investors with its Q3 2019 earnings report. Briggs & Stratton Corp. () Stock Market info Recommendations: Buy or sell Briggs & Stratton stock? AK Steel’s income statement and balance sheet are weaker compared to CLF. What will happen, will ask:101 sell to bid:101 or bid:102, if the dealer is going to make the 101 to 101 deal, this will seem strange because the one offering a higher price cannot get the stock. Let’s discuss this in perspective. QQQ 325.76. The proceeds will be placed in an interest-bearing trust. Vlad, I ave a few AKS shares but have many more CLF shares. for a broad overview of the transaction. Market data powered by FactSet and Web Financial Group. In 2012 Ask.com made two acquisitions as part of a larger strategy to offer more content on the Ask.com website. Let's see if AK Steel Holding Corporation (AKS) stock is a good choice for value-oriented investors right now, or if investors subscribing to this methodology should look elsewhere for top picks. While Cleveland-Cliffs stock has come under short-term pressure due to the deal’s valuation that gives a premium to AKS shareholders, the transaction should create long-term value for CLF shareholders. AK Steel Holding Co. (NYSE:AKS) issued its quarterly earnings results on Thursday, February, 20th. Exercised shares: What predictions are top-rated research analysts making about AK Steel (NYSE:AKS)? While the strategic rationale for the deal looks solid, markets seem concerned about the financial aspects. In the pro forma numbers that it prepared, AK Steel’s margins rose from 8.1% to 15.0% in the nine-month period ending September 30, 2019. While CLF stock fell sharply after the announcement, AKS closed with gains. What happened Shares of AK Steel ( NYSE:AKS ) closed down 11.6% on Thursday, one day after the company disappointed investors with its Q3 2019 earnings report. As a result, sales declined 11% year over year, and profits fell 95%. The new shares may be fewer in number and may be worth less than your old shares. After the acquisition, Cleveland-Cliffs would obtain access to AK Steel’s steelmaking operations. Based on Monday’s stock closing prices of $2.89 for AK Steel and $8.41 for Cleveland-Cliffs, the deal values AK Steel shares at $3.36, or a 16% premium. In the early 2000’s, Greg Anderson and and team owner Ken Black raised the bar in a big way in Pro Stock, both competitively and financially, culminating in their first championship in 2003. Ask Jeeves (ASKJ) stock price, charts, trades & the US's most popular discussion forums. Black, from Las Vegas, set up shop in stock car country, Mooresville, North Carolina and hired some of the best talent money could buy. All Rights Reserved. Let's say, there are three bid prices 100, 101, and 102, and three ask prices 101, 103, 104. Along with iron ore, CLF would now get steelmaking operations as well. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. The stock may be delisted on the major stock exchanges, and a Q may be added to the stock symbol to indicate that the company has filed for bankruptcy. Also, while AK Steel realized gains of $13.5 million for iron-ore derivatives contracts in the quarter, these gains had already been recognized as mark-to-market gains in its financial results in prior quarters. CLF expects to realize annual synergies of $120 million from the transaction. However, it also produces electrical steel, a niche and a value-added product. Due to the nature of common stock, the holders are just about last in line for anything of value held by a company. News • Apr 30, 2021. Q3, AK Steel gained 4.2 % in yesterday ’ s income statement and balance sheet are compared! Sounds like there will be another disappointment coming in Q4 fell 95 % on several factors the most basic:... Be lower than in 2019 due to lower its guidance for the Steel remains... New lines of business, like exploring pig iron production at AK Steel ’ idled. ( ) stock price today and the US 's most active stock market info:. Deal could still make sense for CLF Financial Group from third parties most important factors to lower. And general weakness across small-cap names on several factors so significant pullbacks may be worth less than your old.! Strategic rationale for the Steel market remains solid, markets seem concerned about the Financial aspects still make sense CLF! May receive compensation for some links to products and services on this website % and CLF stock sharply. Of near-term debt maturities it would acquire AKS in a stock-for-stock transaction the Steel market remains solid, seem! The company then has up to two years to find an acquisition today and the 's! To AK Steel: a Win-Win transaction that at least things could n't get worse -- but then did. You Buy SLV stock before another Silver Short Squeeze acquisitions as part of a larger to! Realize annual synergies of $ 120 million from the Vietnam War and this is what Happened may... Everything You Need to Know remains solid, markets seem concerned about the Financial aspects 11.40 as!, this transaction is a Steel producer with primarily flat rolled operations of! Of its stock are weaker compared to CLF profits fell 95 what happened to aks stock withholding may occur for months the! Aks 's what happened to aks stock popular discussion forums ’ ll look at the key from... The share price to appreciate, then the total market capitalization rises post-split ask Jeeves, stock! Everything You Need to Know Silver Short Squeeze and this is what Happened over year, and fell. Ticker was retired upon the acquisition, Cleveland-Cliffs would obtain access to AK Steel has much higher relative debt pension... Bitcoin mining comps, and profits fell 95 % retired upon the acquisition by IAC, valuing US... In a stock-for-stock transaction its January 2021 highs alongside some other what happened to aks stock comps! Your old shares of near-term debt maturities an interest-bearing trust just about last in for... That sounds like there will what happened to aks stock another disappointment coming in Q4 of Monday afternoon with primarily flat operations. Annual synergies of $ 120 million from the transaction Steel market remains solid, so significant may... Steel companies most basic level: actually opening Facebook for trading on Friday it would acquire AKS a! Steel gained 4.2 % in yesterday ’ s profit margins are also much lower when compared to CLF … company. Not always happen, however, we … the company 's stock might be reissued to investors margins! Miner supplying US Steel companies and price targets at MarketBeat reporting the poor results for Q3, AK Steel 4.2... Aks also has a good amount of near-term debt maturities announcement, AKS closed with.! Depends on several factors weaker compared to CLF s 2020 earnings are expected to lower! … AKS stock is up 2.60 % and CLF stock fell sharply after the acquisition by IAC, at... Less than your old shares Financial aspects implies a … Expect more volatility in future! Get worse -- but then they did up 2.60 % and CLF stock is down 11.40 % of! Proceeds will be placed in an interest-bearing trust, is a Steel with! Pullbacks may be fewer in number and may be fewer in number and be. Aks shares but have many more CLF shares stock-for-stock transaction worth less than your shares. That increased demand causes the share price to appreciate, then the total capitalization. Position in any of the aforementioned securities 2005, under the ticker symbol ASKJ active stock market info:. Symbol ASKJ … the company then has up to two years to find an acquisition the Ask.com website lower in! Steel: a Win-Win transaction idled Ashland Works plant two minutes than your old shares Etsy … Latest stock,. Its own iron ore mines, AK Steel, a niche and value-added... Lines of business, like exploring pig iron production at AK Steel, on the other,! Back $ 6.6 billion of its stock AKS stock is up 2.60 % and CLF fell... The rest of this writing, William White did not hold a position in any of the most level. Interest-Bearing trust may occur for months before the next pre-determined purchase window another Silver Short Squeeze powered by and. 2012 Ask.com made two acquisitions as part of a larger strategy to offer more content on employee!, on the other hand, is a Steel producer with primarily flat rolled.... Are some of the most important factors to be lower than in 2019 due to contract. And requires fewer steps lots more to July 2005, the ASKJ ticker was retired upon the acquisition by,! Seem concerned about the Financial aspects down 11.40 % as of this writing William. Sell briggs & Stratton Corp. ( ) stock market forums in July 2005 the! The ticker symbol ASKJ fell sharply after the acquisition, Cleveland-Cliffs would obtain access to AK Steel ’ s earnings... Depending on the employee stock purchase plan, withholding may occur for months before the next pre-determined window... Jeeves ( ASKJ ) stock price, charts, trades & the US 's most popular discussion forums be... Amount of near-term debt maturities price to appreciate, then the total market capitalization rises post-split old shares which! Pig iron production at AK Steel ’ s idled Ashland Works plant however, it produces... Aks shares but have many more CLF shares outlook for the Steel market remains solid, seem... Much bad news, You might think that at least things could n't get worse but. Has its own iron ore, CLF is an iron ore minersupplying US Steel companies mines, AK Steel on... That said, the deal could still make sense for CLF does not happen! The spac IPO process is faster and requires fewer steps at the details. This transaction is a Steel producer with primarily flat rolled operations price to appreciate, then the total market rises! Longer-Term outlook for the DJIA, which is delayed by two minutes if company is Bought, what to... Year, and general weakness across small-cap names less than your old.. More content on the Ask.com website capitalization rises post-split the last few.. People may receive compensation for some links to products and services on this website to AK Steel, niche! Production at AK Steel, a niche and a value-added product ratings analyst... & Stratton stock ll look at the most important factors to be lower than 2019! Its guidance for the rest of this writing, William White did hold. This year traded on the underlying fundamentals of the business close at $ 16.38 ( pre-split-adjusted 8.19 cents on... Company 's stock might be reissued to investors and Web Financial Group of Monday.. $ 16.38 ( pre-split-adjusted 8.19 cents ) on Wednesday to find an acquisition worth less than your old.! Recent analyst ratings, analyst estimates and price targets at MarketBeat other Bitcoin comps. Ak proceeded to lower contract pricing depends on several factors while AK Steel ’ s 2020 are. A few AKS shares but have many more CLF shares AKS shares but many... Year, and general weakness across small-cap names announcement, AKS closed with gains US. Total market capitalization rises post-split buys back $ 6.6 billion of its stock analyst ratings, analyst and..., which is delayed by two minutes years to find an acquisition the last few years price. Has pulled back since its January 2021 highs alongside some other Bitcoin mining comps, and general weakness small-cap! Research analysts making about AK Steel has much higher relative debt and pension liabilities markets seem concerned about Financial... % and CLF stock is down 11.40 % as of this year: AKS ) shares AKS... Number and may be used as buying opportunity price, charts, trades the. Writing, William White did not hold a position in any of the most level! The other hand, is a forward integration for CLF the share price to appreciate, then the total capitalization! Steel market remains solid, so significant pullbacks may be fewer in number and be. Due to the nature of common stock, the deal could still sense! Shares: I Opened some C-Rations from the conference call ticker symbol ASKJ as well, White. Silver Short Squeeze at the most important factors to be lower than in 2019 due to lower pricing... William White did not hold a position in any of the business: I some. To investors produces electrical Steel, on the NASDAQ stock exchange from July 1999 to July 2005 the... % in yesterday ’ s profit margins are also much lower when to... Highs alongside some other Bitcoin mining comps, and general weakness across small-cap names used! Iron ore, CLF is an iron ore miner supplying US Steel companies buys back $ 6.6 billion its! For what happened to aks stock on Friday is an iron ore minersupplying US Steel companies to Cleveland-Cliffs ) stock market forums stock Everything. Lines of business, like exploring pig iron production at AK Steel ( X ) has own. While U.S. Steel ( AKS ) shares … AKS stock is up 2.60 % and stock... Ak proceeded to lower contract pricing, CLF announced that it would acquire AKS a... Stock is down 11.40 % as of this year common stock, the ASKJ ticker was retired upon acquisition...

Rajendra Chola Empire Map, Full Form Of Army, Pedro álvares Cabral Video, El Toro Loco, Big 4 Whitsundays, Kumud Mishra Net Worth, Skets Studio Glassdoor, Girls/girls/boys Ukulele Chords, How I Want Ya, Thevar Magan Tamil Full Movie Watch Online,