Expansions, Operation Updates, Drilling Reports, Indefinite Halt in Operations, and Spin-Off Completions - Analyst Notes on Alcoa, Newmont Mining, U.S. Steel, Patterson-UTI and Oil States
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NEW YORK, June 6, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Alcoa, Inc. (NYSE: AA), Newmont Mining Corp. (NYSE: NEM), United States Steel Corp. (NYSE: X), Patterson-UTI Energy Inc. (NASDAQ: PTEN) and Oil States International Inc. (NYSE: OIS). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/3413-100free.
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Alcoa, Inc. Analyst Notes
On May 29, 2014, Alcoa, Inc. (Alcoa) broke ground on its aerospace expansion in La Porte, Indiana, where the Company will produce nickel-based superalloy jet engine parts. The Company informed that the new state-of-the-art, $100 million facility will expand Alcoa's reach from structural engine components for business and regional jets to large commercial aircraft. The new 320,000-square-foot facility will utilize the latest advanced manufacturing equipment to meet accurate product specifications. Alcoa executives, employees, and community members were joined by Indiana Governor Mike Pence, La Porte Mayor Blair Milo, and other state and local dignitaries to celebrate the expansion, which will create 329 jobs by 2019. The full analyst notes on Alcoa are available to download free of charge at:
http://www.analystsreview.com/Jun-06-2014/AA/report.pdf
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Newmont Mining Corp. Analyst Notes
On June 3, 2014, PT Newmont Nusa Tenggara (PTNNT), a company co-owned by Newmont Mining Corp. announced that its Batu Hijau-based concentrate storage facilities are now full, compelling the operation to halt its processing activities and cease production of copper concentrate. PTNNT informed that it has delayed to put its employees on stand-by status at home on paid leave at lowered compensation in anticipation of a ministerial meeting this week which is expected to clarify the conditions under which copper concentrate exports will be permitted. The full analyst notes on Newmont Mining are available to download free of charge at:
http://www.analystsreview.com/Jun-06-2014/NEM/report.pdf
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United States Steel Corp. Analyst Notes
On June 2, 2014, United States Steel Corp. (U.S. Steel) announced that it will idle two tubular manufacturing facilities in McKeesport, Pennsylvania and Bellville, Texas indefinitely in early August, 2014, reducing the number of the Company's tubular facilities from 10 to eight. However, this will enable U.S. Steel to operate more lucratively as it repositions to meet future customer demand. The indefinite idling decision comes in the wake of a business scenario which is influenced by unfairly traded tubular products imported into the United States - a move that will affect approximately 260 employees. U. S. Steel President and CEO, Mario Longhi stated, "U. S. Steel remains fully committed to the tubular products business and to serving our tubular customers. While these are difficult decisions, they are necessary in order to return our company to sustainable profitability and position us for future growth. We will continue to fight unfair trade by foreign competitors who are creating a detrimental impact and threat to middle-class paying manufacturing jobs." The full analyst notes on U.S. Steel are available to download free of charge at:
http://www.analystsreview.com/Jun-06-2014/X/report.pdf
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Patterson-UTI Energy Inc. Analyst Notes
On June 3, 2014, Patterson-UTI Energy Inc. (Patterson-UTI) announced that for the month of May 2014, it had an average of 200 drilling rigs operating in the United States and two rigs in Canada. For the two months ended May 31, 2014, Patterson-UTI had an average of 199 drilling rigs operating in the United States and two rigs in Canada. According to Patterson-UTI, several factors in addition to average drilling rigs operating can affect its operating results and that a specific trend in the number of drilling rigs operating may or may not indicate a trend in or be suggestive of the Company's financial performance. The full analyst notes on Patterson-UTI are available to download free of charge at:
http://www.analystsreview.com/Jun-06-2014/PTEN/report.pdf
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Oil States International Inc. Analyst Notes
On June 2, 2014, Oil States International Inc. (Oil States) announced the completion of the spin-off of Civeo Corporation, its accommodations business, through the distribution of all the shares of Civeo common stock to the holders of the Company's common stock. Civeo Corporation began trading in New York Stock Exchanges (NYSE) under the ticker symbol, "CVEO". According to the Company, to effect the spin-off, on May 30, 2014, the Company's shareholders also received two shares of Civeo common stock for each share of Oil States common stock held by such shareholders as of business close on May 21, 2014. The full analyst notes on Oil States are available to download free of charge at:
http://www.analystsreview.com/Jun-06-2014/OIS/report.pdf
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