에 대한 최신 뉴스 Commercial Metals (NYSE:CMC) 주식

Commercial Metals

Commercial Metals Co operates steel mills, steel fabrication plants, and metal recycling facilities in the United States and manufactures rebar and structural steel, which are key product categories for the nonresidential construction sector. The Company has two reportable segments: North America and Europe.

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2024년 5월 31일 주요 뉴스: 프랭크 R. 크루즈(Frank R. Cruz)의 법률 사무소에서는 잠재적인 연방 증권법 위반 여부에 대해 U.S. 스틸 (NYSE:X)을 조사하고 있다.

금요일 주요 광업 뉴스: U.S. 스틸, 카이저 알루미늄, 커머셜 메탈스, 골드 로열티

Commercial Metals Co

CAPITALWORKS EMERGING A by Capitalworks Emerging Markets Acquisition Corp

Capitalworks Emerging Markets Acquisition Corp

Capitalworks Emerging Markets Acquisition Corp Units (1 Ord Class A & 1/2 War)

Capitalworks Emerging Markets Acquisition Corp Warrants (19/11/2026)

VanEck ETF Trust VanEck CMCI Commodity Strategy ETF

Caledonia Mining Corporation Plc Common Shares

Caledonia Mining Corp PLC

CMOC Group Ltd

CMOC GROUP LTD UNSP/ADR by CMOC GROUP LTD

Cheetah Mobile Inc. American Depositary Shares, each representing fifty (50) Class A Ordinary Shares

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CHEETAH MOBILE ADR REP 50 CL A ORD

Columbus McKinnon Corporation - Common Stock

Columbus McKinnon Corp

Comcast Corporation - Class A Common Stock

Comcast Corp

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Creative Media & Community Trust Corporation - Common Stock

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UBS ETC (UBS BBG CMCI COMPOSITE IDX) USD ETF

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CMC Metals Ltd

CURTIS MATHES CORP by CURTIS MATHES CORP.

Curtis Mathes Corp

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 10 years by 1.14% on an annualized basis producing an average annual return of 12.31%. Currently, Commercial Metals has a market capitalization of $6.17 billion. 
Buying $1000 In CMC: If an investor had bought $1000 of CMC stock 10 years ago, it would be worth $3,133.33 today based on a price of $53.66 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727190027_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

Here's How Much You Would Have Made Owning Commercial Metals Stock In The Last 10 Years

United States Steel (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/x#NYSE">X</a>) shares rallied 7% in the last trading session to close at $33.39. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock&#39;s 25.5% loss over the past four weeks.
U.S. Steel&#39;s stock popped on reports that a senior Nippon Steel executive traveled to Washington to meet with U.S. officials in a last-ditch effort to save Nippon Steel&#39;s proposed $14.9 billion takeover of U.S. Steel following reports a week ago that the Biden administration was preparing to block the deal.
This steel maker is expected to post quarterly earnings of $0.37 per share in its upcoming report, which represents a year-over-year change of -73.6%. Revenues are expected to be $3.77 billion, down 14.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For U.S. Steel, the consensus EPS estimate for the quarter has been revised 26.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn&#39;t usually translate into price appreciation. So, make sure to keep an eye on X going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold).
U.S. Steel is a member of the Zacks Steel - Producers industry. One other stock in the same industry, Commercial Metals (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cmc#NYSE">CMC</a>), finished the last trading session 1% lower at $48.67. CMC has returned -8.3% over the past month.
Commercial Metals&#39; consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.14. Compared to the company&#39;s year-ago EPS, this represents a change of -32.5%. Commercial Metals currently boasts a Zacks Rank of #3 (Hold).
<a href="https://www.zacks.com/stock/news/2335003/u-s-steel-x-moves-7-0-higher-will-this-strength-last?cid=CS-BENZ-FT-tale_of_the_tape|daily_price_change_5%-2335003">To read this article on Zacks.com click here.</a>

Earnings

Mid Cap

Events

Markets

Analyst Ratings

U.S. Steel Moves 7.0% Higher: Will This Strength Last?

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 5 years by 10.75% on an annualized basis producing an average annual return of 23.85%. Currently, Commercial Metals has a market capitalization of $5.83 billion. 
Buying $100 In CMC: If an investor had bought $100 of CMC stock 5 years ago, it would be worth $307.57 today based on a price of $50.72 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725546631_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $100 Invested In Commercial Metals 5 Years Ago Would Be Worth Today

WIIM

CENX

MTRN

STLD

USAP

VALE

ZEUS

Shares of companies within the broader metals and mining sector are trading lower amid overall market weakness. Weakness may be due to August's ISM Manufacturing PMI data indicating an economic contraction and pending non-farm payrolls data that may determine the size of future rate cuts.

Jefferies analyst Seth Rosenfeld initiates coverage on Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) with a Buy rating and announces Price Target of $65.

Price Target

Initiation

Jefferies Initiates Coverage On Commercial Metals with Buy Rating, Announces Price Target of $65

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 5 years by 14.88% on an annualized basis producing an average annual return of 28.97%. Currently, Commercial Metals has a market capitalization of $6.08 billion. 
Buying $1000 In CMC: If an investor had bought $1000 of CMC stock 5 years ago, it would be worth $3,568.06 today based on a price of $52.85 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724947236_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In Commercial Metals 5 Years Ago Would Be Worth Today

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 5 years by 13.77% on an annualized basis producing an average annual return of 26.8%. Currently, Commercial Metals has a market capitalization of $6.06 billion. 
Buying $100 In CMC: If an investor had bought $100 of CMC stock 5 years ago, it would be worth $339.51 today based on a price of $52.69 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1723566676_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In Commercial Metals 5 Years Ago Would Be Worth This Much Today

Sarah E. Raiss&nbsp;will resign from her position as Lead Director of the Board, effective&nbsp;August 31, 2024, but will continue to serve on the Board.&nbsp;
Additionally, CMC announced that&nbsp;Vicki L. Avril-Groves&nbsp;will retire from the Board, effective&nbsp;August 31, 2024.
The Board has appointed&nbsp;Tandra Perkins to the Board, effective&nbsp;September 1, 2024. Ms. Perkins will serve on the Compensation and Finance Committees of the Board.
&nbsp;

Management

Commercial Metals Names Robert Wetherbee As Chairman, Effective September 1; Barbara Smith To Retire As Executive Chairman

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 5 years by 13.59% on an annualized basis producing an average annual return of 26.13%. Currently, Commercial Metals has a market capitalization of $6.54 billion. 
Buying $1000 In CMC: If an investor had bought $1000 of CMC stock 5 years ago, it would be worth $3,221.73 today based on a price of $56.86 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721923231_0_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In Commercial Metals 5 Years Ago Would Be Worth This Much Today

Commercial Metals's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) short percent of float has risen 10.96% since its last report. The company recently reported that it has 3.56 million shares sold short, which is 4.15% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.82 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Commercial Metals Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721843121_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Commercial Metals has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Commercial Metals's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Commercial Metals's peer group average for short interest as a percentage of float is 6.34%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(CMC) - Analyzing Commercial Metals's Short Interest

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 5 years by 11.14% on an annualized basis producing an average annual return of 24.44%. Currently, Commercial Metals has a market capitalization of $6.09 billion. 
Buying $1000 In CMC: If an investor had bought $1000 of CMC stock 5 years ago, it would be worth $2,981.84 today based on a price of $52.99 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720209626_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Commercial Metals Company&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cmc#NYSE">CMC</a>) results are gaining from strong demand in North America for each of its primary product lines. CMC is implementing price rises across its mill products, which will aid growth. The company&#39;s solid balance sheet bodes well.
However, results have been impacted by lower steel product margins than scrap costs. The company expects margins on steel products to experience further compression in the upcoming quarters. Sluggish demand in Europe is putting pressure on pricing and margins. These market conditions in Europe are expected to persist.
Solid Demand &amp; Pricing Actions: The impacts of the robust demand in North America for each of Commercial Metals&#39; major product lines are expected to be reflected in the company&#39;s results. CMC is also implementing price rises across its mill products in response to rapidly rising scrap costs, which will sustain margins.
The company expects the financial performance of the Emerging Businesses Group to gain from stable underlying market fundamentals and a solid order book. Business circumstances for the Europe Steel Group are gradually improving and should further benefit from increasing residential construction activity.
Impressive Strategic Actions: Commercial Metals will benefit from the Infrastructure Investment and Jobs Act signed in November 2021, which will provide 1.2 trillion in funding over five years and stimulate an estimated 1.5 million tons of incremental annual rebar demand at a full run rate.
The commissioning of the Arizona 2 micro mill, as well as the addition of Tensar&#39;s engineered solutions capabilities, will provide the company with greater flexibility to capitalize on these favorable demand conditions.
Commercial Metals&#39; focus on augmenting its core capabilities while expanding growth in markets, customer groups and applications will aid growth. The company continues to gain from its ongoing network optimization efforts, which will yield additional margins and reduce costs in the near future.
Strong Balance Sheet: Commercial Metals&#39; total liquidity reached $1.5 billion as of May 31, 2024. The company reported cash and cash equivalents of $698 million at the end of the third quarter of fiscal 2024 compared with $592 million at the end of fiscal 2023.
Its strong liquidity, financial position and focus on reducing debt by strategic capital allocation approach will stoke growth. This further underscores the company&#39;s ability to meet debt obligations.
On Jun 19, Commercial Metals declared a quarterly dividend of 18 cents per share. The dividend will be paid out on Jul 10 to shareholders of record as of Jul 1, 2024.
<h3>Near-Term Concerns</h3>
The company has been bearing the impacts of lower steel product margins over scrap costs in North America and Europe. European Union sanctions placed on imported materials from Russia and Belarus are expected to tighten the supply of long steel products. If the situation persists, this is expected to dent the company&#39;s margin.
In Europe, sluggish demand put pressure on pricing and margins in the first half of fiscal 2024. Sentiment and activity levels in the company&#39;s construction and industrial end markets were impacted by general economic uncertainties.
In response to market imbalances, the Polish long steel industry has significantly reduced production and inventory levels. Conditions in Europe are projected to be challenging, weighing on the company&#39;s results.
<h3>Price Performance</h3>
Shares of CMC have gained 2.3% in the past year against the industry&#39;s decline of 0.2%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/47/70394.jpg?v=215679639" />
Image Source: Zacks Investment Research
<h3>Zacks Rank &amp; Stocks to Consider</h3>
Commercial Metals currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the basic materials space are Ero Copper Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ero#NYSE">ERO</a>), Ecolab Inc. and ATI Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ati#NYSE">ATI</a>). While ERO sports a Zacks Rank #1 (Strong Buy), ECL and ATI carry a Zacks Rank #2 (Buy) at present.
The Zacks Consensus Estimate for Ero Copper&#39;s 2024 earnings is pegged at $1.66 per share. The consensus estimate for 2024 earnings has moved 20.3% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 53.9%. ERO shares have gained 9.5% in a year.
The Zacks Consensus Estimate for Ecolab&#39;s 2024 earnings is pegged at $6.59 per share, indicating an increase of 26.5% from the prior year&#39;s reported number. It has an average trailing four-quarter earnings surprise of 1.3%. ECL shares have gained 34.5% in a year.
The Zacks Consensus Estimate for ATI&#39;s 2024 earnings is pegged at $2.41 per share. The Zacks Consensus Estimate for ATI&#39;s current-year earnings has been revised 3% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 8.3%. The company&#39;s shares have rallied 65.9% in the past year.
<a href="https://www.zacks.com/stock/news/2297275/commercial-metals-cmc-bets-on-us-demand-as-europe-market-ails?cid=CS-BENZ-FT-analyst_blog|zer_report_update-2297275">To read this article on Zacks.com click here.</a>

Commercial Metals Bets on US Demand as Europe Market Ails

Commercial Metals's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) short percent of float has risen 24.67% since its last report. The company recently reported that it has 3.21 million shares sold short, which is 3.74% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.21 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Commercial Metals Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720017921_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Commercial Metals has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Commercial Metals's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Commercial Metals's peer group average for short interest as a percentage of float is 6.43%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Commercial Metals?

B of A Securities analyst Lawson Winder maintains Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) with a Buy and lowers the price target from $70 to $69.

B of A Securities Maintains Buy on Commercial Metals, Lowers Price Target to $69

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) has outperformed the market over the past 10 years by 1.23% on an annualized basis producing an average annual return of 11.96%. Currently, Commercial Metals has a market capitalization of $6.15 billion. 
Buying $1000 In CMC: If an investor had bought $1000 of CMC stock 10 years ago, it would be worth $3,149.05 today based on a price of $53.40 for CMC at the time of writing.
<h3>Commercial Metals's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1719244840_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In Commercial Metals 10 Years Ago Would Be Worth This Much Today

After the Juneteenth holiday break, Wall Street reopened with a cautious tone, as the S&amp;P 500 and Nasdaq 100 indices declined after hitting all-time highs around midday trading in New York. This decline was driven by profit-taking in chipmaker stocks and rising Treasury yields, <a href="https://www.benzinga.com/markets">which dampened risk sentiment.</a>
The iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) fell by 2.4%, marking its worst session since May 1, after reaching technically &#8220;overbought&#8221; levels earlier in the week.
Oil prices surged above $81 a barrel, aiming for the highest close since late April. This was spurred by larger-than-expected drops in U.S. inventories last week, fueling a rally in oil-related companies.
Small caps also softened, whereas blue chips saw a rebound, with the Dow Jones Industrial Average outperforming other major indices with a 0.4% gain.
Long-dated Treasury yields rose, with the 10-year yield up by 5 basis points to 4.27%, following mixed economic data released earlier in the day. Jobless claims slightly increased more than expected last week, and a manufacturing activity gauge in the Philadelphia region fell short of estimates, reaching its lowest <a href="https://www.benzinga.com/markets/equities/24/06/39411920/jobless-claims-exceed-estimates-philly-fed-index-declines-housing-starts-and-permits-fall-sharpl">level in five months. </a>
Additionally, housing data showed sharp declines in both housing starts and building permits, reigniting concerns about a tight real estate market.
Bonds fell, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) down 0.9%. The U.S. dollar index (DXY) rose 0.4%, with the greenback gaining ground against all major currencies.
The Bank of England kept its key policy rate unchanged at 5.25%, as expected, while the Swiss National Bank cut rates by 0.25 <a href="https://www.benzinga.com/top-stories/24/06/39415866/interest-rate-decisions-bank-of-england-holds-firm-swiss-national-bank-reduces-further-will-fed-cut">percentage points to 1.25%</a>. Consequently, the British pound and the Swiss franc fell by 0.5% and 0.8%, respectively, against the dollar.
Gold, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), rose by 1.1%, while Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) remained flat below $65,000.
<h2 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,982.71</td>
<td>0.4%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,477.61</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,020.24</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,793.76</td>
<td>-0.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:55 pm ET</figcaption></figure>
According to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.3% lower to $547.24.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was 0.4% higher to $390.90.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) was 0.6% lower to $482.43.</li>
<li>Sector-wise, the&nbsp;Energy&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)&nbsp;outperformed, up by 1.8%, while the&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, falling 0.9%.</li>
</ul>
<h2 class="wp-block-heading">Thursday&#8217;s Stock Movers</h2>
<ul>
<li>The world&#8217;s biggest company Nvidia Corp. witnessed a 2% decline, while Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) and Wolfspeed Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NASDAQ">WOLF</a>) all tumbled by over 5%.</li>
<li>Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) surged nearly 4%, outperforming all other chipmakers. This rise followed the announcement that Sun Singapore Systems, the largest parking solutions provider in Singapore, has selected AMD to power its AI-based parking management platform.</li>
<li>Solar-related stocks experienced sharp declines after JPMorgan reduced price targets on Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) from $128 to $124 and on SolarEdge Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) from $73 to $59.</li>
<li>Gilead Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) soared over 8% after the company announced that a twice-yearly antiviral injection had successfully prevented HIV in all test subjects during a trial involving thousands of women and girls in South Africa and Uganda.</li>
<li>Accenture plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) rose over 6%, despite missing both revenue and earnings estimate last quarter. </li>
<li>Other stocks reacting to company earnings were The Kroger Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>), down 2.8%, Darden Restaurants Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>), down 1.5%, Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>), down 8.7% and Commercial Metals Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>), up 5%. </li>
</ul>
Read now: <a href="https://www.benzinga.com/government/24/06/39416977/supreme-court-upholds-2017-tax-on-foreign-profits-for-us-businesses">Supreme Court Upholds 2017 Tax On Foreign Profits For US Businesses</a>
Illustration created using artificial intelligence via MidJourney.

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S&P 500, Nasdaq 100 Dip From Record Highs As Investors Take Chipmaker Profits; Energy Sector Rebounds, Yields Rise: What's Driving Markets Thursday?

Commercial Metals Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) shares are trading higher after the company reported third-quarter FY24 net sales of $2.078 billion,&nbsp;beating <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/n39407376/cmc-reports-third-quarter-fiscal-2024-results" rel="noreferrer noopener">the consensus of $2.034 billion</a>.
The company stated that fundamentals remain strong in North American markets, supporting stable to modestly improving steel product margins, healthy shipment levels, and steady downstream backlog volumes.
Commercial Metals reported that the Europe Steel Group achieved nearly breakeven performance on an adjusted EBITDA basis in the third quarter. Market conditions remained stable compared to the previous quarter, with slight increases in finished steel pricing and product margins.
The Europe Steel Group&#8217;s average selling price increased by $8 per ton from the second quarter of fiscal 2024.
Core EBITDA decreased to&nbsp;$256.1 million from $384.5 million in the prior year quarter, with a core EBITDA margin of 12.3%.
Adjusted EPS was $1.02,<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener"> which is in line with the consensus.</a>
As of February 29, 2024, cash and cash equivalents totaled $698.3 million, with available liquidity of about&nbsp;$1.5 billion.
The company&#8217;s net cash flows from operating activities for the first nine months totaled $547.9 million.
In the quarter, CMC repurchased stock worth $51.8 million. As of May-end, $458.6 million shares remained available under the current share repurchase authorization.
Dividend: On June 19, 2024, the board declared a quarterly dividend of $0.18 per share (+13% Y/Y), payable on July 10, to <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/n39397675/cmc-announces-quarterly-dividend-of-0-18-per-share" rel="noreferrer noopener">stockholders of record on July 1</a>.
Peter Matt, President and Chief Executive Officer, stated, &#8220;We expect consolidated financial results in our fiscal fourth quarter to be consistent with third quarter levels.  Finished steel shipments within the North America Steel Group are anticipated to be flat on a sequential basis, while adjusted EBITDA margin should remain relatively stable.&#8221;
&#8220;Adjusted EBITDA for our Europe Steel Group is likely to continue the quarter-to-quarter improvement trend despite market conditions that are expected to remain challenging.  Financial results for the Emerging Businesses Group should improve modestly, driven by steady underlying market <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">fundamentals and a healthy order book</a>.&#8221;
Investors can gain exposure to the stock via VanEck Steel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLX#NYSE">SLX</a>) and SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>).
Price Action: CMC shares are up 5.85% at $53.71 at the last check Thursday.

Movers

Why Commercial Metals Shares Are Surging Today

U.S. stocks will likely carry over from where they left off as the market reopens after<a href="https://www.benzinga.com/government/21/06/21612957/what-is-juneteenth-and-how-did-it-become-the-11th-us-federal-holiday"> the Juneteenth holiday </a>on Thursday. The major index futures were all uniformly higher, underpinned by the continued buoyancy in the tech space. The sector&#8217;s accelerated runup, though, has caused concerns among certain quarters. Analysts have begun calling for moderation in sentiment toward the space once the Federal Reserve confirms rate cuts for the year.
Traders may also keep an eye on some key Main Street catalysts such as the jobless claims and housing starts data and the results of a regional manufacturing survey.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.68%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.42%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.10%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.31%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">In premarket trading on Thursday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.40% at $550.71, while the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) traded up 0.66% at $488.39, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>. Cues From Last Session:</figcaption></figure>
Wall Street went about a listless ride on Tuesday, as traders digested a slew of catalysts, including weak retail sales, stronger-than-expected industrial production growth, Fed speeches and the Congressional Budgetary Office&#8217;s 27% upward adjustment to budget deficit estimate for the fiscal year.
The major averages moved roughly sideways in a broad range before closing higher for the day. The Nasdaq Composite hit a record high on a closing basis but not on an intraday basis, and the S&amp;P 500 Index clocked both intraday and closing highs. The 30-stock Dow Jones Industrial Average, which is still trading off its record highs, rose for a second straight session.
The most important development was Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) rising in ranks to become the most-valued global corporation.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td> Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.03%</td>
<td>17,862.23</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.25%</td>
<td>5,487.03</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.15%</td>
<td>38,834.86</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.16%</td>
<td>2,025.23</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Comerica Chief Investment Officer John Lynch said in a recent note to clients that with the Fed scaling back its rate cut projections for the year, the focus now shifts to fundamentals. &#8220;While election-related headlines may grab investors' attention this summer, we will be focusing on fundamentals including inflation, earnings and interest rates when positioning our clients' diversified portfolios,&#8221; the strategist said.
Meanwhile, Carson Group Chief Market Strategist Ryan Detrick flagged potential weakness in the second half of June. Sharing a chart showing historical performance, he said June isn&#8217;t historically a strong month but this time around the market was atypically strong, in line with his expectations.
&#8220;Still, be aware that from now until later in the month is one of the seasonally worst times of the year,&#8221; he added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">June usually isn&#39;t very strong for stocks (not working this year, as we expected). Still, be aware that from now until later in the month is one of the seasonally worst times of the year. <a href="https://t.co/5cjRyjwfar">pic.twitter.com/5cjRyjwfar</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1803064145429848242?ref_src=twsrc%5Etfw">June 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Upcoming Economic Data:</figcaption></figure>
<ul>
<li>The Labor Department is due to release its weekly jobless claims report at 8:30 a.m. EDT. Economists, on average, expect the number of individuals claiming unemployment benefits to come in at 235,000 for the week ended June 15, down from 242,000 in the previous week.</li>
<li>The Commerce Department will release its first-quarter current account data at 8:30 a.m. EDT. The consensus calls for a widening of the current account deficit from $194.8 billion in the fourth quarter to $207.4 billion in the first quarter. </li>
<li>The Commerce Department is also scheduled to release its housing starts report at 8:30 a.m. EDT. Economists expect housing starts to come in at a seasonally adjusted annual rate of 1.38 million units for May, nearly flattish with last month&#8217;s 1.36 million units. Building permits, an indicator of future housing activity, may have edged up from 1.44 million units to 1.45 million units.</li>
<li>Also on tap are the results of the Philadelphia Fed&#8217;s regional manufacturing survey. The diffusion index of manufacturing activity is expected to climb slightly from 4.5 in May to 5 in June.</li>
<li>The Energy Information Administration will release the weekly petroleum status report at 11:30 a.m. EDT.</li>
<li>The Treasury will auction four- and eight-week bills at 11:30 a.m. EDT and five-year TIPS at 1 p.m. EDT.</li>
</ul>
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus:
<ul>
<li>Nvidia climbed nearly 2.70%<a href="https://www.benzinga.com/premarket"> in premarket trading</a> amid the stock&#8217;s ongoing momentum.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) rose over 3% after Elon Musk said the company will build half of the racks that are going into the supercomputer that his AI company x.AI is building.</li>
<li>Accenture plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>), Commercial Metals Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>), Darden Restaurants, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>), Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>), Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) and Winnebago Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WGO#NYSE">WGO</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting their quarterly results </a>ahead of the market open.</li>
<li>Smith &amp; Wesson Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWBI#NASDAQ">SWBI</a>) will release its quarterly report after the market close.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures firmed up above the $80-a-barrel level and gold futures also rose and traded above the $2,350-an-ounce mark. The 10-year benchmark U.S. treasury yield edged up 3.7 basis points to 4.254%. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose about a percentage point.
Asian stocks closed on a mixed note, with Japan&#8217;s Nikkei rising modestly. The New Zealand, South Korean and Taiwanese markets advanced strongly, while China and Hong Kong retreated. The People&#8217;s Bank of China on Thursday left the one-year loan prime rate unchanged at 3.45%, and the five-year LPR at 3.95%. The decision came close on the heels of the release of some weak data points, but it was in line with expectations.
The major European markets traded in the green in early trading ahead of the Bank of England&#8217;s rate decision.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/06/39405978/hot-runner-nvidia-to-hit-speed-bump-in-second-half-this-year-heres-what-a-market-strategist-says">&#8216;Hot Runner&#8217; Nvidia To Hit Speed Bump In Second Half This Year? Here&#8217;s What A Market Strategist Says</a><a href="https://x.com/RyanDetrick/status/1803064145429848242/photo/1"></a>
Stocks Photo by Phongphan on Shutterstock

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Pre-Market Outlook

NVDA

SMCI

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Wall Street On Track To Resume Meteoric Climb, Nvidia Builds On Gains: Analyst Says 'Now Until Later In The Month Is…Seasonally Worst Times'

Mr. Matt said,&nbsp;&quot;Finished steel shipments within the North America Steel Group are anticipated to be flat on a sequential basis, while adjusted EBITDA margin should remain relatively stable.&nbsp; Adjusted EBITDA for our Europe Steel Group is likely to continue the quarter-to-quarter improvement trend despite market conditions that are expected to remain challenging.&nbsp; Financial results for the Emerging Businesses Group should improve modestly, driven by steady underlying market fundamentals and a healthy order book.&quot;

Guidance

Commercial Metals Expects Consolidated Financial Results In Fiscal Fourth Quarter To Be Consistent With Third Quarter Levels

Commercial Metals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>) reported quarterly earnings of $1.02 per share which met the analyst consensus estimate. The company reported quarterly sales of $2.078 billion which beat the analyst consensus estimate of $2.034 billion by 2.16 percent. This is a 11.39 percent decrease over sales of $2.345 billion the same period last year.

Earnings Beats

Commercial Metals Q3 2024 Adj. EPS $1.02, Inline, Sales $2.078B Beat $2.034B Estimate

Commercial Metals Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMC#NYSE">CMC</a>), a leading manufacturer of steel reinforcing bars, has been showing stable and promising margin results in the...

Commercial Metals Company (NYSE:CMC): Promising Results and a Healthy Pipeline

There's a lot to be optimistic about in the Materials sector as 3 analysts just weighed in on Bellevue Gold Limited (AU:BGL – Research Report), Com...

Analysts Are Bullish on Top Materials Stocks: Bellevue Gold Limited (AU:BGL), Commercial Metals Company (CMC)

Nucor Corporation is the largest minimill steelmaker in the U.S., Nucor has one of the most diverse product lines of any steelmaker in the Americas.

Nucor Corp. Dividend Stock Analysis

In a report released today, Sathish Kasinathan from Bank of America Securities maintained a Buy rating on Commercial Metals Company (CMC – Research...

Commercial Metals Company (CMC) Gets a Buy from Bank of America Securities

Commercial Metals Company: The Green Steel Giant Is Priced Just Out Of Reach

Commercial Metals started at Buy at Jefferies as steel prices seen staying strong

These stocks are expected to benefit from the reshoring trend currently happening

Janus Henderson Small Cap Value Fund Q2 2024 Commentary

Alcoa, Steel Dynamics raised to Buy in joining favorite commodity stocks at BofA

Commercial Metals Company ( ($CMC) ) just unveiled an update. Commercial Metals Company has announced the appointment of Kekin M. Ghelani as the ne...

Commercial Metals Company Welcomes New Chief Strategy Officer

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CMC Announces Quarterly Dividend of $0.18 Per Share

CMC REPORTS THIRD QUARTER FISCAL 2024 RESULTS

CMC Announces Executive and Board Leadership Changes

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D.R. Horton, Inc. Appoints Three New Independent Directors

CMC Announces Fourth Quarter Fiscal 2024 Conference Call Webcast Details

CMC Announces Fourth Quarter Fiscal 2024 Conference Call Time One Hour Earlier

CMC Announces Appointment of Kekin Ghelani as Senior Vice President, Chief Strategy Officer

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Comments

Commercial Metals

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에 대한 최신 뉴스 Commercial Metals (NYSE:CMC) 주식

토요일, 6월 01, 2024

사람들이 또한 지켜본다

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