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Today's Research Reports on Stocks to Watch: Nucor Corporation and AK Steel

NEW YORK, NY / ACCESSWIRE / September 18, 2017 / Shares of Nucor closed lower this past Friday after the company issued a profit warning for its third-quarter results. Shares of AK Steel also closed slightly down despite any significant news. It was earlier this month that the company announced it would be raising the current base prices for all carbon flat-rolled steel products in the spot market.

RDI Initiates Coverage on:

Nucor Corporation
https://rdinvesting.com/news/?ticker=NUE

AK Steel Holding Corporation
https://rdinvesting.com/news/?ticker=AKS

Nucor Corporation's shares modestly closed in the red this past Friday with a decrease of 0.85%. Shares dropped after the company offered dismal guidance for the third quarter ending September 30th. The company forecasts third-quarter results to be in the range of $0.75 to $0.80 per diluted share. This is a decrease compared to the $0.95 per diluted share reported in Q3 of last year and the $1.00 per diluted share reported in the second quarter. When the company released its second-quarter results, it had said, "Earnings in the third quarter of 2017 should be in a range similar to the quarterly results of the first half of 2017." In a press release the company said on Friday, "Though the third quarter of 2017 expected range is less than what we had originally thought earlier in the quarter, this range combined with the diluted earnings per share from the first two-quarters of the year would exceed the amount of reported full year diluted EPS of the previous eight years." The company also announced that its board has approved a steel bar micro mill project and announced the company is considering five states in the Midwest and Southeast for the project.

Access RDI's Nucor Corporation Research Report at:
https://rdinvesting.com/news/?ticker=NUE

AK Steel Holding Corporation's shares closed down 0.89% on Friday. Earlier this month the company announced that it would increase the current base prices for all carbon flat-rolled steel products in the spot market by at least $30 per ton. The price change will have an immediate effect on any new orders. The company noted in July when it released its second-quarter earnings result that prices in the carbon spot market were far more volatile than the company had expected. The company beat in its second-quarter earnings report, reporting net income of $61.2 million or $0.19 per share. This was not only an increase of over 250% from the year-ago quarter but beat the Wall Street expectation of $0.13. Net sales were also a beat at $1,557.2 million compared to $1,530 million that analysts had been expecting.

Access RDI's AK Steel Holding Corporation Research Report at:
https://rdinvesting.com/news/?ticker=AKS

Our Actionable Research on Nucor Corporation (NYSE: NUE) and AK Steel Holding Corporation (NYSE: AKS) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com


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