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United Parcel Service, Inc. (NYSE:UPS) made a new high at $61.13 and now up 4.45% and trades at $59.96. The company announced that it expects to exceed its previously announced estimate for fourth quarter of 2009 earnings and expects earnings per diluted share (EPS) range of $0.73-$0.75. The Company previously projected EPS of $0.58-$0.65. According to Reuters Estimates, analysts were expecting the Company to report EPS of $0.63 for the same period. The Company also announced that it is streamlining its domestic management structure. Effective in April, the Company will reduce its U.S. Regions from five to three and its U.S. Districts from 46 to 20. The restructuring will eliminate approximately 1,800 management and administrative positions across the country.
Vale (ADR) (NYSE:VALE) moved 1.61% to $31.65 and made a new 52-week high at $31.71. Vale S.A., formerly Companhia Vale do Rio Doce, is a metals and mining company. The Company is also a producer of iron ore and iron ore pellets. It also produces manganese ore, ferroalloys and kaolin. It also produces bauxite, alumina, aluminum, copper, coal, cobalt, precious metals, potash and other products. The Company operates logistics systems in Brazil, including railroads, maritime terminals and a port, which are integrated with its mining operations.
AK Steel Holding Corporation (NYSE:AKS) hits a new 52-week high at $25.46 and now up 7.13% and trades at $25.24 after JPMorgan Chase & Co. boosted their 12-month share-price estimates. The brokerage increased the price forecast for AK Steel to $34 from $29 whiling lifting the estimate for U.S. Steel to $75 from $55. AK Steel Holding Corporation (AK Holding) is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products through its wholly owned subsidiary, AK Steel Corporation (AK Steel).
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