(Bloomberg) -- Takeover speculation may not be
enough to sustain a rally in U.S. steel stocks, based on the
reaction to Nucor Corp.'s second-quarter earnings estimate.
All seven steelmakers in the Standard & Poor's 500 Index
and the S&P MidCap 400 Index, a benchmark for smaller companies,
fell after Nucor forecast a bigger drop in profit than analysts
were anticipating. The projection from the second-largest U.S.-
based producer was 15 cents to 25 cents below the lowest
forecast of 13 analysts in a Bloomberg survey.
Read more at Bloomberg Stocks News
enough to sustain a rally in U.S. steel stocks, based on the
reaction to Nucor Corp.'s second-quarter earnings estimate.
All seven steelmakers in the Standard & Poor's 500 Index
and the S&P MidCap 400 Index, a benchmark for smaller companies,
fell after Nucor forecast a bigger drop in profit than analysts
were anticipating. The projection from the second-largest U.S.-
based producer was 15 cents to 25 cents below the lowest
forecast of 13 analysts in a Bloomberg survey.
Read more at Bloomberg Stocks News
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