AKS - AK Steel Disappoints
In June, I wrote an article about AK Steel (AKS) which discussed an interesting buying opportunity in a situation of a significant industrial undeperformance in an environment of strong economic sentiment. The trade did quite well and was up more than 16% before the earnings call. The problem is that the earnings call did not at all reveal what I had hoped for. Yes, the company finally grew total shipments but was unable to improve its bottom line due to rising input prices. Even though the company is sticking to its full year