Nucor Corporation’s (NUE) Q4 guidance shows lower-than-expected EPS ($0.55-$0.65 vs. $0.86 consensus) due to reduced steel volumes and prices. Despite recent stock buybacks and strong prior results, the premarket price dropped 1.51% to $122.29. Investors can access NUE through ETFs like SLX and FXZ.
AMD stock, along with other chip companies, is experiencing a decline in trading, mirroring the drop in ASML’s share price following the release of its soft guidance. ASML, a key supplier of chip manufacturing equipment, predicts lower-than-expected sales and expenses in the upcoming quarters, raising concerns about the broader chip industry’s performance. This news comes amidst reports of potential U.S. restrictions on chip exports, adding to the uncertainty in the sector.
United States Steel Corporation (X) shares are trading higher after the company announced third-quarter 2024 adjusted net earnings per share guidance and adjusted EBITDA expectations. The company anticipates resilient domestic flat-rolled steel demand, despite challenging pricing dynamics. While Europe is experiencing softening demand, the company is confident in achieving regulatory approvals for its pending transaction with Nippon Steel.
Steel Dynamics, Inc. (STLD) has announced its earnings guidance for the third quarter of 2024, projecting earnings per share in the range of $1.94 to $1.98. This represents a decline from the company’s second-quarter earnings and third-quarter 2023 results. The decline is primarily attributed to reduced pricing in the flat rolled steel operations.
Meta’s first-quarter earnings report revealed a significant increase in profit, driven by higher advertising revenue and a rise in ad prices. However, the company’s lukewarm revenue guidance for the current quarter sent shares tumbling in after-hours trading.
