U.S. Steel Sees Loss
(X: 21.70 -1.50%) – was halted, now trading 13% down afterhours.
Here’s what they announced:
- U.S. Steel Reports Q1 (Mar) loss of $3.84 per share, misses by $2.15
- revenues fell 47.1% year/year to $2.75 bln vs the $3.14 bln consensus
- cuts quarterly dividend to $0.05/sh from $0.30/sh
It was on my ‘to buy’ watch list. Technically still looks okay, but IMO the fundamentals nullify the TA positives.
Edited to add: Judging by the recent market reactions to bad earnings, it makes sense to BUY X!
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