Trump Win Sends U.S. Steelmaker Stocks Soaring; We Expect to Raise Our Steel Fair Value Estimates
U.S. steel stocks soared after the market opened on Nov. 9 after Donald Trump won the U.S. presidential election and the Republicans maintained control of the Senate and U.S. House of Representatives. Share prices for many steel stocks under our coverage rose more than 10% shortly after the market opened.We are reassessing our forecasts for each company and expect to modestly raise our fair value estimates for U.S. steelmakers. However, our fair value adjustments will likely be of a lower magni...
Commercial Metals, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services. The company has four reportable segments: Americas Recycling, which processes scrap metals for use as a raw material by the company and other manufacturers of new metal products; Americas Mills, which operates electric arc furnace (EAF) mini mills, EAF micro mills, rerolling mill, scrap metal shredders, and scrap metal processing facilities; Americas Fabrication, which includes warehouses that sell or rent products for the installation of concrete; and International Mill, which consists of an EAF mini mill, recycling and fabrication operations located in Poland.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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