U.S. Steel will report its Quarter 3 earnings on October 25th. The stock has struggled in a range of $39 to $48 following its Q2 results. Investors felt these results were weak, however CEO of The Markets Are Open, Andyraw Kibbens felt they were particularly strong. He noted that the company incurred a charge for a loan they had in Euros and without this the company was profitable.
He noted that he expected Q3 and Q4 to be weaker, as U.S. Steel has begun idling certain plants which means demand is weaker. However, he noted that he expected to see U.S. Steel reverse its loss in the Euro in Q3 meaning they will report a profit.
To see his full report on U.S. Steel Click Here
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