Latest news with #Pittsburgh-headquartered
Yahoo
6 days ago
- Business
- Yahoo
Sydney Sweeney Just Launched a Meme Rally in American Eagle. Should You Buy AEO Stock Here?
American Eagle (AEO) shares soared as much as 20% on Thursday after the clothing retailer said actress Sydney Sweeney will be the face of its fall campaign. Retail investors latched onto the Sweeney news, partly because short interest in the NYSE-listed firm stood at a whopping 13.5% heading into today, making it a prime candidate for short squeeze. More News from Barchart NVDA Broken Wing Butterfly Trade Targets A Profit Zone Between 150 and 160 Is Opendoor Stock a Buy at New 52-Week Highs? Can Lucid Motors Stock Hit $7 in 2025? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! While American Eagle stock has relinquished some of its intraday gains in recent hours, at market open, it was up nearly 30% versus its year-to-date low set in mid-June. Caution Warranted in Buying American Eagle Stock Disciplined investors should approach today's rally in AEO shares with caution as it was driven mostly driven by celebrity buzz and meme stock phenomenon instead of fundamentals. American Eagle did not issue a financial or operational update to justify such a sharp surge in its stock price, neither did it receive bullish coverage from a Wall Street analyst on Thursday. Therefore, once the hype fades, American Eagle stock could retrace just as quickly, particularly since its struggling with an earnings contraction. In its current financial quarter, the Pittsburgh-headquartered firm is expected to earn just $0.20 on a per-share basis, down significantly from $0.39 a share in the same quarter last year. Jefferies Analyst Remains Dovish on AEO Shares Chasing the meme-driven momentum in American Eagle shares may be a gamble also because 'ongoing headwinds facing the consumer could impact the company's top-line growth and margin performance over the next 6-12 months,' according to Jefferies analyst Corey Tarlowe. In his latest research note, he cited execution challenges and product assortment issues as well for his dovish stance on AEO stock. Jefferies currently has a 'Hold' rating on American Eagle Outfitters with an $11 price target indicating potential downside of more than 3.0% from current levels. How Wall Street Recommends Playing American Eagle Long-term investors should avoid jumping into AEO shares amid the meme stock frenzy as they're not in favor with other Wall Street analysts either. According to Barchart, the consensus rating on American Eagle stock currently sits at 'Hold' only and the mean target of $11.27 is roughly in line with its current trading price. On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
West Australian
6 days ago
- Business
- West Australian
‘I know there's concern' says Alcoa Australia president Elsabe Muller as US miner fights for South West mine
Alcoa's new local chief Elsabe Muller insists the US bauxite giant is putting 'all effort in' to win approvals to keep mining the State's Jarrah Forest as the plans undergo lengthy public scrutiny. The Pittsburgh-headquartered miner and alumina refiner is fighting to secure two environmental ticks from the State Government to expand its bauxite mine in the South West, and to increase production capacity at the Pinjarra Alumina Refinery. Asked whether she was confident Alcoa would get the green light for its expansion plans, Ms Muller told a WA Mining Club event the miner was 'putting all effort in to make sure that we're getting the support to get approval.' Alcoa's existing approvals were locked in under a State agreement in 1961 and therefore have not gone through WA's current environmental assessment regime to make sure they meet modern standards . 'For any mining company, you tend to mine where the deposit can be economically extracted. Now, in our case in WA, you find it in the Jarrah Forest,' operations president Ms Muller said on Thursday. She referenced research from the Global Aluminium Council that claimed demand for the metal would increase between 30 per cent and 40 per cent by 2030. 'It will double by 2050 because you do need it to decarbonise. There's no substitute,' she said. 'We obviously need to enter new mining areas so that our refineries can keep operating for decades to come.' WA's Environmental Protection Authority launched a 12-week public comment period for the plans at the end of May, a move Alcoa said earlier this month would mean it was unlikely a Ministerial decision would be made by early 2026, as had been anticipated. The miner has also faced substantial community concern since it was served an official notice by the Department of Water and Environmental Regulation in 2023, after inspectors found Alcoa had built a pipeline and funnelled toxic PFAS-contaminated waste over Samson Brook dam despite a works application still being 'under assessment'. Asked how it would address these concerns during the public feedback period, Ms Muller said on Thursday that Alcoa had 'never impacted drinking water' and had implemented a reservoir protection zone 'to absolutely make sure we will not'. 'I know that there's concern. We've never impacted drinking water.'
The Star
23-05-2025
- Business
- The Star
Trump announces "planned partnership" of U.S. Steel, Nippon Steel
WASHINGTON, May 23 (Xinhua) -- U.S. President Donald Trump announced on Friday that there will be a "planned partnership" between U.S. Steel and Nippon Steel, with substantial investment from the Japanese manufacturer in the U.S. company. "US Steel will REMAIN in America, and keep its Headquarters in the Great City of Pittsburgh," Trump said in a post on Truth Social. "This will be a planned partnership between United States Steel and Nippon Steel, which will create at least 70,000 jobs, and add 14 Billion Dollars to the U.S. Economy. The bulk of that Investment will occur in the next 14 months," Trump said. The president also noted that he will attend a big rally at the U.S. Steel headquarters in Pittsburgh on May 30. Although the term "merger" was not explicitly used, Politico reported that Trump's remarks showed that he had approved a deal for Nippon Steel to buy U.S. Steel, "reversing a position he took during the presidential campaign." The move also overturns former President Joe Biden's decision to halt the deal shortly before leaving office in January. Both Biden and Trump had previously expressed a desire for the iconic American company to stay under U.S. ownership. In February, Trump said Nippon Steel will no longer seek to purchase U.S. Steel and will instead "invest heavily" in the U.S. company. The 14.1-billion-U.S. dollar acquisition of Pittsburgh-headquartered U.S. Steel that Nippon Steel has now dropped is a "concept psychologically not good," Trump said.
The Hill
07-02-2025
- Business
- The Hill
Trump says US Steel will get investment from Nippon Steel, instead of being bought by it
WASHINGTON (AP) — President Donald Trump on Friday suggested that Nippon Steel would no longer buy U.S. Steel as planned, but the Japanese company would instead invest in the symbolically important American business. The U.S. president mistakenly referred to Nippon Steel as 'Nissan,' the Japanese automaker. But it's Nippon Steel's bid that generated controversy as both Trump and his predecessor in the White House, Joe Biden, vowed to block the merger. Nippon Steel 'is going to be doing something very exciting about U.S. Steel,' Trump said at a news conference with Japanese Prime Minister Shigeru Ishiba. 'They'll be looking at an investment rather than a purchase.' It was unclear what the details of the investment would be, but Trump said he would meet with the head of Nippon Steel next week and he would be involved 'to mediate and arbitrate.' Ishiba described the investment as mutually beneficial and said Japanese technology would be provided to U.S. Steel mills. Nippon Steel in December 2023 made what was a nearly $15 billion bid to buy U.S. Steel, creating a sudden political issue in the 2024 presidential election as the Pittsburgh-headquartered steelmaker was key to the identity of the political swing state of Pennsylvania. Biden agreed with the United Steelworkers, the labor union, in seeking to block the merger, while Trump as a candidate said outright he opposed the purchase. A powerful government panel on Monday failed to reach consensus on the possible national security risks of a nearly $15 billion proposed deal for Nippon Steel of Japan to purchase U.S. Steel, leaving the decision to President Joe Biden, who opposes the deal. In December, the Committee on Foreign Investment in the United States, known as CFIUS, sent its long-awaited report on national security concerns about the merger to Biden. But the government panel failed to reach a consensus as to whether there were national security issues. The Biden administration extended a deadline for Nippon Steel to abandon the deal, essentially giving Trump the choice on what step to take next.
Yahoo
07-02-2025
- Business
- Yahoo
Trump says US Steel will get investment from Nippon Steel, instead of being bought by it
WASHINGTON (AP) — President Donald Trump on Friday suggested that Nippon Steel would no longer buy U.S. Steel as planned, but the Japanese company would instead invest in the symbolically important American business. The U.S. president mistakenly referred to Nippon Steel as 'Nissan,' the Japanese automaker. But it's Nippon Steel's bid that generated controversy as both Trump and his predecessor in the White House, Joe Biden, vowed to block the merger. Nippon Steel 'is going to be doing something very exciting about U.S. Steel,' Trump said at a news conference with Japanese Prime Minister Shigeru Ishiba. 'They'll be looking at an investment rather than a purchase.' See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. It was unclear what the details of the investment would be, but Trump said he would meet with the head of Nippon Steel next week and he would be involved 'to mediate and arbitrate.' Ishiba described the investment as mutually beneficial and said Japanese technology would be provided to U.S. Steel mills. Nippon Steel in December 2023 made what was a nearly $15 billion bid to buy U.S. Steel, creating a sudden political issue in the 2024 presidential election as the Pittsburgh-headquartered steelmaker was key to the identity of the political swing state of Pennsylvania. Biden agreed with the United Steelworkers, the labor union, in seeking to block the merger, while Trump as a candidate said outright he opposed the purchase. A powerful government panel on Monday failed to reach consensus on the possible national security risks of a nearly $15 billion proposed deal for Nippon Steel of Japan to purchase U.S. Steel, leaving the decision to President Joe Biden, who opposes the deal. In December, the Committee on Foreign Investment in the United States, known as CFIUS, sent its long-awaited report on national security concerns about the merger to Biden. But the government panel failed to reach a consensus as to whether there were national security issues. The Biden administration extended a deadline for Nippon Steel to abandon the deal, essentially giving Trump the choice on what step to take next.
