Gerdau S.A. (NYSE:GGB) hereby announces the results of the early participation period of the Exchange Offer (the “Early Participation Period”) that commenced on April 10, 2014 whereby the 7.25% Bonds due 2017 (the “2017 Bonds”) issued by GTL Trade Finance Inc. (the “2017 Bonds Issuer”) and 7.00% Bonds due 2020 (the “2020 Bonds” and together with the 2017 Bonds, the “Old Bonds”) issued by Gerdau Holdings Inc. (the “2020 Bonds Issuer” and, together with the 2017 Bonds Issuer, the “Issuers”) held by Eligible Holders may be exchanged for up to U.S.$1,250,000,000 aggregate principal amount. Gerdau SA (ADR) (NYSE:GGB) shares after opening at $6.06 moved to $6.32 on last trade day and at the end of the day closed at $6.31. Company price to sales ratio in past twelve months was calculated as 0.56 and price to cash ratio as 5.39. Gerdau SA (ADR) (NYSE:GGB) showed a positive weekly performance of 4.30%.
Integrated producer of flat rolled Carbon Steel, AK Steel Holding Corporation (NYSE:AKS), stocks continue to enjoy a roller-coaster ride in the market after the company announced plans to increase prices for its key steel products. The company’s stock was up last week by a high of 9% after the announcement was made. AK Steel Holding Corporation (NYSE:AKS) shares advanced 2.71% in last trading session and ended the day on $7.21. AKS return on equity ratio is recorded as 27.60% and its return on assets is -3.30%. AK Steel Holding Corporation (NYSE:AKS) yearly performance is 119.15%.
ArcelorMittal SA, (ADR) (NYSE:MT) the world’s largest steelmaker, and Bekaert Group on Wednesday agreed to swap their stakes in their Brazil, Costa Rica and Ecuador ventures, part of a broader plan to extend a four-decade partnership in fast-growing markets, an executive said. ArcelorMittal SA (ADR) (NYSE:MT) shares moved up 0.12% in last trading session and was closed at $16.24, while trading in range of $16.18 – $16.33. ArcelorMittal SA (ADR) (NYSE:MT) year to date (YTD) performance is -8.97%.
Planning on “headcount reductions”, U.S. Steel Corp. (NYSE:X) is going to lay off a number of employees throughout the world which also includes some in Pittsburgh. The company is essentially doing this to save money. United States Steel Corporation (NYSE:X) weekly performance is -0.64%. On last trading day company shares ended up $26.34. United States Steel Corporation (NYSE:X) distance from 50-day simple moving average (SMA50) is 0.89%. Analysts mean target price for the company is $29.00.
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