On Wednesday, Shares of United States Steel Corporation (NYSE:X), lost -0.12% to $8.22.
United States Steel Corporation, declared it will temporarily idle its Granite City Works steelmaking and finishing operations in Granite City, Ill. As the primary flat-roll supplier of the oil and gas industry, the idling is part of an on-going adjustment of steelmaking operations throughout North America to match customer demand.
The company routinely adjusts production at its operating facilities to reflect market fluctuations. This is a result of continued challenging global market conditions counting fluctuating oil prices, reduced rig counts and associated inventory overhang, depressed steel prices and unfairly traded imports, which continue to have a noteworthy impact on the business. The company will be working closely with its customers through this transition. The company will continue to operate its steelmaking operations in Indiana, Michigan and Pennsylvania as well some finishing operations in Alabama.
Granite City Works employees were issued notices under the Worker Adjustment and Retraining Notification (WARN) Act on Oct. 8.
United States Steel Corporation produces and sells flat-rolled and tubular steel products in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular).
Shares of Nokia Corporation (ADR) (NYSE:NOK), declined -0.07% to $7.24, during its last trading session.
Rajeev Suri, President and Chief Executive Officer of Nokia, met recently with French President Francois Hollande and Minister of Economy Emmanuel Macron to reiterate Nokias strong involvement in the development of the technology and digital ecosystem in France. This meeting follows the recent launch of Nokias public exchange offer for Alcatel-Lucent securities as part of the planned combination of the two companies, and was also attended by Marc Rouanne, presently Executive Vice President, Mobile Broadband, Nokia Networks, who would serve as Chief Innovation & Operating Officer in the combined entity. Together, Nokia and Alcatel-Lucent would be an innovation leader in next generation technology and services for an IP connected world.
Following the meeting with President Hollande, Suri commented: I was honored to be able to reiterate Nokias support for France to President Hollande in our meeting recently. The values of France are far stronger than those who pose a threat to the country and I could see that in the resolve and determination of the President. Nokia will not just be a larger part of the technology ecosystem in the country in the future, but a larger presence in France overall. Once the projected transaction with Alcatel-Lucent closes, we will have thousands of employees in France, many of them engaged in cutting-edge research and development. We are proud that we will inherit the rich history of Alcatel, and proud of the contribution we will bring to France.
President Hollande renewed his support for the projected combination with Alcatel-Lucent and thanked Nokia for its commitment to sustainably integrate France into the combined companys planned plans for the future. President Hollande said: The involvement of Nokia in the French digital ecosystem is fully consistent with our strategy to develop new economic opportunies, by mobilizing and leveraging the innovation and research capabilities of France.
Nokia Corporation, together with its auxiliaries, provides network infrastructure and related services in Finland, the United States, Japan, China, India, the Russian Federation, Germany, Taiwan, Indonesia, Italy, and internationally.
Finally, Shares of Boeing Co (NYSE:BA), ended its last trade with 0.01% gain, and closed at $147.45.
Boeing (BA) and BOC Aviation, declared an order for 22 737 airplanes, building on the leasing companys existing order book to fulfill customer demand.
The order, consisting of 11 Next-Generation 737-800s and 11 737 MAX 8 airplanes, will be posted to Boeings Orders and Deliveries website once finalized.
This order demonstrates our continued confidence in the Next Generation 737 aircraft for its proven high performance, reliability and asset value, said Robert Martin, managing director and chief executive officer of BOC Aviation. The Next Generation 737 economics are very attractive to our customers. With the 737 MAX, we are investing in new technology aircraft to meet our customers long-term fleet planning requirements.
In addition to recentlys declaration, BOC Aviation has ordered 167 737 airplanes, counting 50 737 MAXs and 16 777s.
The Boeing Company, together with its auxiliaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide.