Commodities & Metals

U.S. Steel Earnings Saves the Metal Makers (X, AKS, NUE, RS, SCHN, STLD, MT, AA)

United States Steel Corp. (NYSE: X) is surging after its earnings report. While earnings were half of what they were a year ago, the report was “less bad” than analysts expected. The full earnings analysis can be found here. What is interesting is the reaction we are seeing in the shares on what is not-as-bad-as-expected news.

U.S. Steel shares are now up more than 8% on the day at $20.43 and volume was more than 5 million shares in just a little over the first hour of trading. Can an industry leader lift all ships? Here is how the peer steel and base metal companies are performing so far today.

AK Steel Holding Corp. (NYSE: AKS) is up almost 4% at $5.25, versus a 52-week range of $4.44 to $11.79.

Nucor Corp. (NYSE: NUE) is up almost 2% at $39.21, against a 52-week range of $29.82 to $45.75.

Reliance Steel & Aluminum Co. (NYSE: RS) is up 3.4% at $51.94 against a 52-week range of $31.09 to $58.58.

Schnitzer Steel Industries Inc. (NASDAQ: SCHN) is up 1.7% at $28.90, against a 52-week range of $22.78 to $51.98.

Steel Dynamics Inc. (NASDAQ: STLD) is up less than 2% at $12.88 against a 52-week range of $8.78 to $16.66.

One interesting play is that ArcelorMittal (NYSE: MT) is not participating in the rally as its ADRs are down by 0.6% at $16.03, and its 52-week range is $13.28 to $29.93.

Alcoa Inc. (NYSE: AA) is not in the steel sector but it shares were down initially and now have listed higher by 0.5% at $8.49. Its 52-week range is $7.97 to $14.77.

JON C. OGG

Want to Retire Early? Start Here (Sponsor)

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.