Why U.S. Steel Stock Just Dropped 13%
It's been barely a month since U.S. Steel (NYSE: X) reported its second-quarter earnings. The news back then wasn't especially good, with earnings plunging and free cash flow deeply in the red at one of the best-known steelmakers in the business. But now it seems to be getting even worse.
Last night, U.S. Steel issued new guidance for its third fiscal quarter currently underway. With half the quarter still to go, already U.S. Steel is feeling nervous, and warning that it expects to report an "adjusted" loss of $0.35 per share.
U.S. Steel shares are down 13% as of 10:25 a.m. EDT in response.
Source Fool.com
