Trending Stocks: Twitter, Alphabet, AK Steel, Deutsche Bank, and More

AK Steel Holding Corporation (NYSE:AKS) is in the green in extended-market trading after Bank of America analyst Timna Tanners upgraded the stock to ‘Buy’ from ‘Underperform’ and hiked the bank’s price target to $8 from $4. Tanner believes U.S. steel prices could rise as her research shows that domestic scrap steel prices might rise $30-$40 per ton next month due to stronger demand. Due to that belief and the fact that the company is focused on more premium products, Tanners hiked her 2017 EPS estimate to $0.90 from the previous $0.55. Among the funds we track, 32 funds owned $221.39 million worth of AK Steel Holding Corporation (NYSE:AKS)’s stock, which accounted for 26.60% of the float on June 30, versus 17 funds and $81.75 million, respectively, on March 31.

According to Bloomberg, Deutsche Bank AG (USA) (NYSE:DB) is reportedly considering alternatives such as paying bonuses in the form of stock or shares of a non-core unit in lieu of cash to boost its capital levels. Given that the company gave its workforce bonuses of 2.4 billion euros, or $2.6 billion dollars last year, of which 51% was paid out immediately, Deutsche Bank could potentially save around 1.2 billion euros ($1.3 billion) if management enacted the move and this year’s bonuses are comparable to 2015’s. According to our data, 15 funds were long Deutsche Bank AG (USA) (NYSE:DB) at the end of June, up by five funds from the previous quarter.

Disclosure: None