Recently, Precision Castparts Corp. (PCP), a diversified manufacturer of complex metal components and products, has completed its acquisition of Carlton Forge Works in Paramount, California. Carlton is a leading manufacturer of seamless rolled rings of nickel, titanium and steel for utilization primarily in aircraft engine (80%) and gas turbine (20%) applications. Precision Castparts has also acquired Arcturus Manufacturing Corporation, a hammer forging operation in Oxnard, California.  Precision acquired both Carlton and Arcturus for $850 million. The acquisitions are all-cash deals and are financed primarily through current cash balances and small levels of debt. The transactions will be included in Precision’s Forged Products segment, which accounted for about 42% of the company’s sales in the last quarter of fiscal 2009. Precision generated about 24% of its margins from this segment. Management expects the acquisitions to be immediately accretive to earnings.  Precision is among the leading manufacturers of ...

Here are the stocks added to the Zacks #5 Rank ("strong sell") List today:

Allegheny Technologies Inc (ATI) The Black & Decker Corp (BDK) Cal Dive International Inc (DVR) CBL & Associates Properties Inc (CBL) KB Financial Group Inc (KB) Logitech International SA (LOGI) Lufkin Industries Inc (LUFK) Overseas Shipholding Group Inc (OSG) Parker-Hannifin Corp (PH) Resource Capital Corp (RSO) Royal Dutch Shell Plc (RDS.A) SkyWest Inc (SKYW) Smith International Inc (SII) Titan Machinery Inc (TITN) Turkcell Iletisim Hizmetleri AS (TKC) View the entire Zacks #5 Rank List.

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pJan 6, 2009 (WALL STREET JOURNAL) -- In an early sign that some steel prices may have bottomed out, steelmakers in the U.S., China and some other countries are attempting limited price increases and reopening a handful of mills that were closed because of weak demand a few months ago./ppnbsp;/ppIt isn't clear whether the price increases will stick, however. Steel sellers often announce price increases or special surcharges, only to relent in the face of customer opposition or if rivals don't follow suit. Nor is it clear whether the price increases reflect more demand or lower inventories.br /nbsp;/ppTroubled auto makers, contractors, appliance and equipment makers have cut back on their steel purchases. The majority of mills closed over the last few months remain shuttered and many around the world are operating below 50% of their capacity./ppnbsp;/ppBut steelmakers signaled cautious optimism that there is enough demand to support price increases in ...

Hmm... here I thought we were positioned well for a big up day, having cut back our short exposure and getting quite long Friday. How very wrong. Always interested on days like this when we are trailing the market so badly to see what is winning and what is losing - below are the best and worst performers of the S&P 500 Best - Banks & Homebuilders - and home related (Masco/Lowes/Whirlpool) Symbol Company Name % Price Change Today STI SunTrust Banks Inc 7.8 KBH KB Home 7.7...