Why U.S. Steel Stock Dropped 9.5% After Earnings
Shares of United States Steel (NYSE: X) closed the trading day down 9.5% Friday -- which is kind of a strange result, when you consider that U.S. Steel beat earnings estimates last night, rather than missing them.
Expected to report a huge $2.82-per-share loss for its fiscal second quarter, on sales of only $1.84 billion, U.S. Steel instead reported a slightly less extreme loss of only $2.67 per share, and less-bad-than-expected sales of $2.09 billion.
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Source Fool.com
