Steel Dynamics says 'customer order entry activity continues to be healthy' 16:33 STLD "Customer order entry activity continues to be healthy across our businesses, with expectations for seasonally moderated volume for our steel and metals recycling operations in the coming months," saidCEO Millett. "Despite weaker flat rolled steel pricing, our order activity and backlogs remain solid. We believe North American steel consumption will remain steady, and that demand for lower-carbon, U.S. produced steel products coupled with lower imports will support steel pricing. Our steel fabrication operations order backlog also remains historically high based on volume and forward pricing levels. This, in combination with our existing and recently announced expansion initiatives, are firm drivers for our continued growth in the coming years. Operations continue to ramp up at our Sinton Flat Roll Steel Division. The product surface quality is excellent, and grade development and dimensional tolerances have exceeded our expectations. The Sinton team has been running at a rate of 65 percent during October and achieving rates of over 80 percent for several single day periods, supporting our expectations to achieve a run rate of at least 80 percent for the full year 2023. In addition, our four additional value-added flat rolled steel coating lines comprised of two paint lines and two galvanizing lines with Galvalume(R) coating capability, are expected to begin operating in the second half of 2023. One set will be located onsite at Sinton, providing it with the same diversification and higher-margin product capabilities as our two existing flat rolled steel divisions. The other two lines will be placed at our Heartland Flat Roll Division to support growing coated flat rolled steel demand in the region and to further increase the diversification and cash generation capacity of our existing Midwest operations. We are quickly progressing on our aluminum flat rolled products mill and are incredibly excited about this meaningful growth opportunity, which is aligned with our existing business and operational expertise," said Millett. "We have intentionally grown with our customers' needs, providing efficient sustainable supply-chain solutions for the highest quality products. Thus far, this has primarily been achieved within the carbon steel industry - however, a significant number of our carbon flat rolled steel customers are also consumers and processors of aluminum flat rolled products. We are pleased to further diversify our end markets with plans to supply aluminum flat rolled products with high recycled content to the countercyclical sustainable beverage can industry, in addition to the automotive and industrial sectors. We believe our unique performance-based operating culture, coupled with our considerable experience in successfully constructing and operating cost-effective, highly profitable flat rolled steel mills, positions us exceptionally well to execute this strategic opportunity and to deliver strong long-term value creation. Our customers and our people are also incredibly excited for this growth opportunity. Our commitment is to the health and safety of our teams, families, and communities, while meeting the growing needs of our customers. Our culture and business model continue to positively differentiate our performance compared to others. We believe there are strong drivers for our continued growth, and we remain in a position of strength. Our planned investments in a new state-of-the-art low-carbon aluminum flat rolled mill and associated recycled aluminum slab centers continues our strategic growth, is aligned with our core steelmaking and recycling platforms, benefits many of our existing customers, and provides for future value creation. We are well-positioned for sustainable long-term growth," concluded Millett.
MQ- Could they say something about the Block contract at this meeting? Marqeta has approximately $1.7 billion of cash and equivalents and no debt. BUY MQ under $7 ----> Hold for 1-2 weeks
For example, Marqeta's biggest customer Block, which makes up nearly 70% of its total business, uses Cash App to get more depositors on board. Marqeta 10-K
Recession warning: Bezos says to 'batten down the hatches' Oct. 20, 2022 7:03 AM ET Americans should brace for a recession, according to Amazon (NASDAQ:AMZN) founder Jeff Bezos, who has become the latest to warn about doom and gloom on the horizon. "Yep, the probabilities in this economy tell you to batten down the hatches," hewrote on Twitter, in response to a CNBC interview of Goldman Sachs' CEO. In the clip, David Solomon cautioned businesses to think more cautiously and to factor volatility into their economic outlooks.
Ok slightly dangerous move here-- Sept 26th RH $240 area>Bottom Ocxt 13th RH $240 area> Bottom Oct 14th RD $ 235 area> Bounced to $250 $212 Is Your June low--- RH--> Pre-Market:$236.25+0.53(+0.22%)4:34 AM Ok so using $215 or so as a stop Go LONG RH with the hope of breaking $250 which would trigger buying. You have a lot going against you: - recession on horizon - slow down in spending -lousy X-Mas - Etc But you have stonedinvestor going for you! GBA Upgrade: RH (RH) From Fearful to Hopeful. NYSE - NYSE Delayed Price. 235.72-10.53(-4.28%) At close: 04:00PM EDT 236.25+0.53(+0.22%) Pre-Market:08:34AM EDT