Reported about 10 hours ago
U.S. Steel announced disappointing fourth-quarter results, posting a loss that aligned with Wall Street forecasts, due to falling prices and weak demand. The steel sector faces challenges as distributors limit purchases amidst an oversupply. The company is working to complete a $15 billion deal with Nippon Steel while contending with activist investor pressure and rival bids from Cleveland-Cliffs and Nucor. Quarterly revenue dropped 15% year-over-year to $3.5 billion, yet still met analyst expectations.
Source: YAHOO