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AKS - Why United States Steel Stock Just Popped 16%
AK Steel Holding Corporation
One day after AK Steel (NYSE: AKS) lost nearly 12% in an earnings miss, larger rival United States Steel(NYSE: X) reminded investors that it's not all bad news in Steel Town.
Reporting earnings yesterday after close of trading, U.S. Steel confirmed that its Q3 earnings, while bad, were not quite as bad as anticipated. Expected to report a non-GAAP (adjusted) loss of $0.29 per share on sales of only $3.05 billion, USX eked out a small sales beat ($3.07 billion) and reported a much less devastating loss -- $0.21 per share.