What's Going On With U.S. Steel Stock?
Portfolio Pulse from Ryan Gustafson
United States Steel Corporation (NYSE:X) shares are trading higher following the company's Q3 guidance, which reflects the anticipated impact of the United Autoworkers Union strike on financial results. The company issued EPS guidance between $1.10 and $1.15 and estimated adjusted EBITDA to be approximately $550 million. The stock has risen 34.79% over the past three months, with a significant surge in mid-August after the company rejected an acquisition offer from Cleveland-Cliffs.
September 19, 2023 | 7:40 pm
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POSITIVE IMPACT
U.S. Steel's stock is trading higher following the company's Q3 guidance and the rejection of an acquisition offer. The stock has risen 34.79% over the past three months.
The company's Q3 guidance, which reflects the anticipated impact of the United Autoworkers Union strike, and the rejection of an acquisition offer from Cleveland-Cliffs have positively impacted the stock. The stock has seen a significant rise over the past three months, indicating a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100