Volume Spike Investor » CMC http://vsinvestor.com Investing in stocks based on short term spikes in volume Sat, 05 Nov 2011 14:20:15 +0000 en hourly 1 http://wordpress.org/?v=3.2 200% Volume Spike in Commercial Metals (CMC) http://vsinvestor.com/2010/02/200-volume-spike-in-commercial-metals-cmc.html http://vsinvestor.com/2010/02/200-volume-spike-in-commercial-metals-cmc.html#comments Mon, 22 Feb 2010 17:12:33 +0000 247admin http://vsinvestor.com/?p=3761 Commercial Metals Company (NYSE: CMC) is one we have been following today for an explosion in trading volume on what is actually a very quiet trading day.  The stock is now up 11.9% at $16.87 on 5.3 million shares.  The 52-week trading range is $8.83 to $21.29 and the average volume is only about 1.8 million shares.  This stock petered out just north of $17.00 in the last 30 minutes or so and we are starting to see at least some profit taking in the name.

The reason is the old “takeover chatter” but we’d also note that this is on the heels of many large funds disclosing gains and subtractions in the stock.  The market cap here is a mere $1.89 billion, so it is not one of those old metals mergers that had been thrown out there with no real chance of being seen.

JON C. OGG

]]> http://vsinvestor.com/2010/02/200-volume-spike-in-commercial-metals-cmc.html/feed 0 Steel stocks lag on commodities weakness, construction market worries (SCHN, X, CMC, RS, NUE, AKS) http://vsinvestor.com/2009/06/steel-stocks-lag-on-commodities-weakness-construction-market-worries-schn-x-cmc-rs-nue-aks.html http://vsinvestor.com/2009/06/steel-stocks-lag-on-commodities-weakness-construction-market-worries-schn-x-cmc-rs-nue-aks.html#comments Tue, 30 Jun 2009 16:09:59 +0000 247admin http://www.vsinvestor.com/?p=637 Steel stocks are among the laggards Tuesday after disappointing results from Schnitzer Steel Industries Inc. (Nasdaq: SCHN) and a lackluster consumer confidence report that helped spur lower commodity prices.

Schnitzer is weighing most heavily on the group, down more than 10 percent as of noon Tuesday, on more than twice its normal volume. The company missed earnings expectations by 21 cents a share, and revenue fell 58 percent from the same period a year earlier. The company cited weak demand in both the non-residential and infrastructure construction markets in its steel manufacturing business. The company expects the construction market weakness to continue through the rest of the year.

Among other steel names, United States Steel Corp. (NYSE: X), Commercial Metals Co. (NYSE: CMC) and Reliance Steel & Aluminum Co. (NYSE: RS) all are down more than 3 percent on moderate volume. Nucor Corp. (NYSE: NUE) shares are down more than 2 percent. AK Steel Holding Corp. (NYSE: AKS) is down more than 1 percent.  — Mike Tarsala

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