Word: steele
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Some sectors are getting hit harder than others. At the beginning of October, analysts were expecting the materials sector, which includes big mining and steel companies, to be up 29% for the fourth quarter. But that collective estimate is now -12%, a nosedive resulting at least in part from tanking commodity values. "Analysts feel that earnings weakness is spreading beyond the financials and consumer discretionary sectors, which includes industries like retailing and travel, into other sectors like energy and industrials," says John Butters, director of U.S. earnings research for Thomson Reuters. Among the few companies that may buck the negative...
...market peaked on September 3, 1929. Steel production was down, several banks had failed, and fewer homes were being built, but few paid attention - the Dow stood at 381.17, up 27% from the previous year. Over the next few weeks, however, prices began to move downward. And the lower they fell, the faster they picked up speed...
...then came Black Monday. As soon as the opening bell rang on Oct. 28, prices began to drop. Huge blocks of shares changed hands, as previously impregnable companies like U.S. Steel and General Electric began to tumble. By the end of the day, the Dow had dropped 13%. So many shares changed hands that day that traders didn't have time to record them all. They worked into the night, sleeping in their offices or on the floor, trying to catch up to be ready for October...
...fitting that Barack Obama brought his closing-argument speech to Pittsburgh: this is a city of many lives, one born in a cradle of steel and promise that collapsed and rose again and knows something about reinvention. "The American story has never been about things coming easy," Obama said. "It's about seeing the highest mountaintop from the deepest of valleys." This hilly city is as good a place as any to come for that kind of view. It is, according to the August census report, the fifth-poorest city in the country, and yet it ranks as among...
...that businesses look out for workers and play by the rules. "That's how we've always grown the American economy - from the bottom up," Obama said. "John McCain calls this socialism. I call it opportunity, and there is nothing more American than that." And the crowd raised the steel roof of the Mellon Arena...