schreef:
AK Steel (AKS +19%), which reported a Q4 profit that beat expectations, and US Steel (X -1.2%), which lost money (unadjusted) for the seventh time in nine quarters, are moving in different directions today: AKS has jumped nearly 20%, while US Steel has dropped more than 1%.
AKS beat forecasts primarily due to higher shipments, partially offset by a lower average selling price per ton; the average selling price per ton fell 4% Q/Q due to a lower proportion of value-added product shipments to the spot market.
X’s results were disappointing in terms of guidance, and management failed to provide measurable cost savings targets or other Project Carnegie-related initiatives.
Shares of Steel Dynamics (STLD +0.6%), which met earnings forecasts, and Nucor (NUE +0.6%), which beat, are up slightly.