Shares of steel stocks are trading lower in sympathy with Nucor, which issued weak Q3 guidance.
Portfolio Pulse from Benzinga Newsdesk
Shares of steel stocks are trading lower in sympathy with Nucor, which issued weak Q3 guidance. Steel Dynamics (STLD) and Olympic Steel (ZEUS) may also be affected.
September 15, 2023 | 4:27 pm
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NEGATIVE IMPACT
Nucor's weak Q3 guidance has led to a decrease in its stock price.
Nucor's weak Q3 guidance is a direct cause for the decrease in its stock price. Investors may be concerned about the company's future profitability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Steel Dynamics' stock price may be affected by Nucor's weak Q3 guidance.
As a company in the same industry, Steel Dynamics' stock price may be affected by Nucor's weak Q3 guidance. Investors may be concerned about the overall health of the steel industry.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Olympic Steel's stock price may be affected by Nucor's weak Q3 guidance.
As a company in the same industry, Olympic Steel's stock price may be affected by Nucor's weak Q3 guidance. Investors may be concerned about the overall health of the steel industry.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70