Why Nucor (NYSE:NUE) Faces a Dull Near-Term Outlook
Leading steel producer Nucor (NYSE: NUE) recently warned of accelerated market headwinds that lead to lower shipment volumes and considerable contraction in metal margins in the third quarter of fiscal Q3. These setbacks forced the company to lower its earnings guidance for the quarter. Looking at how things are going for the U.S. steel industry, Wall Street prefers to wait till the tides turn to start buying Nucor shares. Shares of the steel giant decreased over 11% last Wednesday when the outlook was slashed. What Does Nucor Do? Simply put, Nucor produces structural steel, steel bars, steel decks, direct reduced iron, etc.
Why Nucor (NYSE:NUE) Faces a Dull Near-Term Outlook
Leading steel producer Nucor (NYSE: NUE) recently warned of accelerated market headwinds that lead to lower shipment volumes and considerable contraction in metal margins in the third quarter of fiscal Q3. These setbacks forced the company to lower its earnings guidance for the quarter. Looking at how things are going for the U.S. steel industry, Wall Street prefers to wait till the tides turn to start buying Nucor shares. Shares of the steel giant decreased over 11% last Wednesday when the outlook was slashed. What Does Nucor Do? Simply put, Nucor produces structural steel, steel bars, steel decks, direct reduced iron, etc.