U.S. stocks surged to their 13-month highs Monday as a weaker dollar and a rebound in U.S. retail sales reinforced hopes that an economic recovery is indeed underway.  Stocks also got a boost after Fed chairman Ben Bernanke reiterated Fed’s intention to keep interest rates low for an extended period. 

Gold advanced 2% to fresh record highs; and the price of silver jumped 5.9%.  The initial gains in the equity prices followed strength in Asian markets yesterday.  Strength in Asia was partly helped by reports that said Japanese economy grew at its fastest pace in over two years, up 1.2% during the third quarter.  To add to the bullish mood in the region, leaders of the Asia Pacific Economic Cooperation promised to keep the stimulus measures in place.

On Monday, the 30-stock Dow Jones industrial average rose 136.49 points, or 1.33%, to 10,406.96. The broad Standard & Poor's 500-stock

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Steel Output Mounting The Steel industry, which consists of companies engaged in the extraction of iron ore and coke coal for the processing of iron and steel, has the major chunk of sales concentrated with a few producers. The industry includes metal ore exploration and mining services, iron and steel foundries for smelting, rolling, forging, spinning, recycling, stamping, polishing and plating of iron and steel products such as pipes, tubes, wire, spring, rolls and bars. The largest drivers of steel consumption have historically been the automotive and construction markets, which make up more than 50% of total steel consumption. Other steel consuming industries include appliances, converters, containers, tin, energy, electrical equipment, agricultural, domestic and commercial equipment and industrial machinery. Large automakers such as General Motors, Ford Motor Company ([url=http://www.zacks.com/stock/quote/f]F[/url]), Toyota Motor Corporation ([url=http://www.zacks.com/stock/quote/tm]TM[/url]) and Honda Motor Company ([url=http://www.zacks.com/stock/quote/hmc]HMC[/url]) depend upon the steel industry. ArcelorMittal ([url=http://www.zacks.com/stock/quote/mt]MT[/url]) is ...

Yesterday morning, AK Steel (AKS) reported weak results for the third quarter of 2009. Net income of $6.2 million, or $0.06 per diluted share of common stock was for the quarter, compared to net income of $188.3 million, or $1.67 per diluted share, for the third quarter of 2008.The third-quarter 2009 results represent a $53.4 million improvement over the second quarter of 2009, net loss of $47.2 million, or $0.43 per diluted share.  Net sales for the quarter were $1,041.1 million on shipments of 1,047,800 tons, compared to sales of $2,157.6 million on shipments of 1,476,300 tons for the year-ago quarter. The average selling price for the third quarter of 2009 was $994 per ton, a 7% decrease from the $1,072 per-ton price in the second quarter of 2009, and approximately 32% lower than the $1,462 per-ton average price realized in the third quarter of 2008. ...

In the recent live chat conducted with THE KIRK REPORT, I promised to share some of my latest trades “in the crosshairs”.  I will be taking the opportunity to share not only  the trades but to share the thought process behind them as well. These posts will not be a “brag” time nor will they portray my style of trading as a fail safe, get rich quick system (because it is not).  There will no discussion on my percentage gains or losses, on how much money was made or lost, how many winners in a row I have had, etc. etc. because none of these things matter to you and have nothing to do with your success or failure.  My trading record is worthless to another trader. What does matter is the concepts behind the CROSSHAIR and how they can be used in any style of trading, whether mine

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For Immediate Release

Chicago, IL – September 17, 2009 – Zacks.com releases the latest Zacks Industry Rank. Stocks featured in this week’s analysis include D.R. Horton (DHI), KB Home (KBH), Pulte Homes (PHM), Allstate (ALL), Hartford Financial Services (HIG), Travelers (TRV), Loews (L), Humana (HUM), Stericycle (SRCL), C.R. Baird (BCR), Celgene (CELG), Gilead Sciences (GILD), Anadarko Petroleum (APC), EOG Resources (EOG), AK Steel (AKS), Nucor (NUE), U.S. Steel (X), Fifth Third (FITB), Regions Financial (RF), Suntrust Banks (STI) and Zions Bancorp (ZION).

Zacks Industry Rank Analysis is written by Charles Rotblut, CFA, Senior Market Analyst for Zacks.com.

This week: Third-Quarter Earnings Forecast

Though the economy has stabilized, third-quarter results for the majority of companies will still be below year prior levels.

Per share profits for the S&P

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Encouraging economic data and Federal Reserve Chairman Ben Bernanke’s view that the recession was “very likely over" sent stocks higher for a second straight day.  A better-than-expected rise in retail sales, helped in part by the government’s cash-for-clunkers program and higher gasoline prices, eased concerns that consumers were spending with restraint. 

Speaking at a Brookings Institution conference, Bernanke, however, added a note of caution, saying, “Even though from a technical perspective the recession is very likely over at this point, it’s still going to feel like a very weak economy for some time."

This morning’s stock futures indicate Wall Street would open with gains, helped by increased M&A activity, optimistic guidance from companies, and words from Warren Buffett that Berkshire Hathaway (NYSE:BRK.A) is "buying stocks right as we speak."

Yesterday, the 30-stock Dow Jones industrial average gained 57 points, or 0.6%, to 9,683.41, its highest point since October 6. 

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Though the economy has stabilized, third-quarter results for the majority of companies will still be below year prior levels.

Per share profits for the S&P 500 are projected to fall 15.4%. The median company is forecast to report a 14% drop in per share earnings. (The difference being that the S&P 500 forecast is a weighted projection.) More than 340 companies may have experienced a year-over-year drop in profits.

On a revenue basis, things are not much better. Median company sales are forecast to have dropped 7.2%.* More than 360 companies are expected to report a year-over-year drop in earnings.

It's important to realize that during July and August 2008, the economy was in fairly good shape. Lehman did not collapse until September 2008. Furthermore, the credit crunch's grip severely tightened over the 2-month span of September and October 2008. As a result, many companies are now facing tough

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Recently, AK Steel Holding Corp. (AKS) announced the fourth installment of a price increase for its carbon steel products. The company raised spot market prices for its carbon steel products by $40 per ton, effective with all new orders for September and October shipments. This adds to a hike of $40 per ton for hot rolled products and $50 per ton for cold rolled and coated products announced in the beginning of July.

AK Steel has lately taken several steps including price increases that convey its optimistic outlook on the steel industry. Recent developments in the sector that range from possible growth in Chinese demand to stability in the auto industry after the bankruptcy of General Motors and Chrysler LLC are factors behind this optimism.

In the second quarter, AK Steel posted a narrower loss of $47.2 million, or 43 cents per share, compared to a loss of

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AK Steel Holding Corporation (AKS) announced its second-quarter 2009 results on Jul 21.

Net losses were 43 cents per share, which was narrower than our expectations for a loss of 53 cents. However, the company had reported a profit of $1.29 in the year-ago period. Operating loss of $72.5 million in the quarter was marginally lower than the estimated loss of $75 million to $80 million.

Net sales for the quarter plunged 64% to $793.6 million on shipments of 740,600 tons, higher than the expected shipments of 725,000 tons in the quarter. But on a year-over-year basis, shipments were down about 57% from 1,737,800 tons. The average selling price for the second quarter was $1,072 per ton, a 17% decrease over the second quarter of 2008. AKS had expected the selling price to decline 3%-4% per ton.

AK Steel provided its guidance for the third quarter of 2009. Shipments are expected

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AK Steel: Losses to continue in 2Q 2009 Ohio-based AK Steel Holding Corporation (AKS), a leading producer of flat-rolled carbon, stainless, electrical steel and tubular products, is set to release its earnings for the second quarter of 2009 on Wednesday, July 22. On May 5, 2009, AK Steel had revised its second quarter 2009 guidance provided with the first quarter 2009 results. The company anticipates that its second quarter shipments will likely be closer to 725,000 tons rather than the 800,000 tons estimated in its initial guidance. With the reduction in anticipated shipments for the quarter, AK Steel anticipates its average per-ton selling price for the second quarter 2009 to decrease approximately 3% to 4% compared to the first quarter. The company expects planned maintenance costs to be $15 million higher in the second quarter compared to the first quarter, primarily due to a planned ...