He saw too much capacity, deteriorating pricing and continued capital budget cuts.
Moody's currently rates the company one notch above a noninvestment grade, or junk level, at Baa3 and said it will evaluate U.S. Steel's ability to reduce costs in light of deteriorating pricing power, drastically reduced production and $1.6 billion in debt.
It may help calm the turbulent credit markets by preventing a sharp sell-off of securities, though analysts say the fund will probably not be able to offset the deteriorating prices of the securities.
But after such a long period of lax lending standards, I think deteriorating prices are inevitable.
This trend line, which is often a barometer of intermediate-term technical health, has been key in indicating the market's deteriorating price activity.
The economy would run out of spare capacity, profits deteriorated, prices and wages rose and the Fed hiked interest rates, precipitating a recession.If that pattern holds, the current expansion should have plenty of life left in it.
CSFB cited a strong risk of oversupply and deteriorating DRAM pricing in 2005, overly optimistic consensus estimates for 14% year-over-year revenue growth for Micron in 2005, and potential for DRAM inventory to build in the seasonally weak first half of 2005.
Zebra sells when one of three things happens: A company's earnings and stock price deteriorate; its price and trading volume rise; or the company gets bought, which usually works out well for shareholders in the acquired company (as opposed to those who own the acquirer).
Their collapse in mid-2007 precipitated a crisis of confidence about how to price these opaque instruments that, combined with deteriorating house prices, rapidly led to multibillion-dollar write-downs at financial institutions worldwide.
Deteriorating gas prices, declining volumes because of seasonal weaker demand and price erosion in the chemicals sector contributed to the lower quarter-to-quarter earnings.
The bank suffered heavy blows to its fixed-income business, causing it to write off $3.55 billion from deteriorating securities prices, leveraged loans and bad trading bets.
