Why United States Steel Stock Just Dropped 10%
Shares of U.S. Steel (NYSE: X) stock are down 10% as of 3:20 p.m. Wednesday after the metal manufacturer forecast a second-quarter 2020 loss that was steeper than what Wall Street had expected.
After reporting a $2.30 per share loss on $2.7 billion in revenues in the first quarter, analysts were looking for U.S. Steel to lose another $1.75 per share (pro forma) on sales of just over $2 billion in Q2.
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Source Fool.com
