Orlando, FL -- (SBWIRE) -- 10/28/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On AK Steel Holding Corporation (NYSE:AKS), Freeport-McMoRan Copper & Gold Inc.(NYSE:FCX).
AK Steel Holding Corporation (NYSE:AKS) shares gained 0.47% to $4.27. UBS Investment Research analyst Matt Murphy on Oct. 22 downgraded the rating on AK Steel Holding from Neutral to Sell, but raised the price target from $3.00 to $3.50.
Additionally, the company said on Oct. 22 that Mark G. Essig has been elected to its Board of Directors, effective November 1, 2013. Mr. Essig currently is the Chief Executive Officer of FKI Security Group. He previously held senior executive positions with several companies in the steel industry, including Shale-Inland, Washington Steel Corporation, RathGibson LLC, GS Industries and AK Steel. At AK Steel, he served as executive vice president from 1992 to 1998.
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Freeport-McMoRan Copper & Gold Inc.(NYSE:FCX) shares increased 0.08% to $37.44. The company on Oct. 25 said it will switch to London Metal Exchange cobalt pricing data from Metal Bulletin for contracts from Jan. 1, 2014, Reuters reported. In a statement, Freeport-McMoRan said "we believe there is general acceptance amongst customers and supplies to move to LME-based pricing for cobalt," Reuters reported.
Additionally, the company on Oct. 22 reported better-than-expected third-quarter results and the company said it was still looking at asset sales but was not under any pressure to do them quickly. Net income slipped to $821 million, or 79 cents a share, from $824 million, or 86 cents, a year earlier. Revenue rose to $6.17 billion from $4.42 billion, boosted in part by the oil and gas acquisitions. Analysts had expected earnings of 62 cents a share on revenue of $5.7 billion.
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