What's Happening With US Steel Shares On Monday?
Portfolio Pulse from Shivani Kumaresan
United States Steel Corporation (NYSE:X) shares are trading higher after the company announced its second-quarter guidance, which fell below analyst expectations. The company also faces challenges with a proposed $14.9 billion merger with Nippon Steel Corp due to political resistance and concerns from the steel workers union.
June 17, 2024 | 3:18 pm
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U.S. Steel's Q2 guidance fell below analyst expectations, but shares are trading higher. The company also faces political and union resistance to its proposed $14.9 billion merger with Nippon Steel.
Despite the lower-than-expected Q2 guidance, the stock is trading higher, possibly due to investor confidence in the company's long-term prospects. However, the merger faces significant hurdles, which could impact future performance.
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