United States Steel Takes a Tumble Following DOC Ruling

0
United States Steel Takes a Tumble Following DOC Ruling

Today’s midday gainers are Lee Enterprises, Incorporated (NYSE:LEE), CF Industries Holdings, Inc. (NYSE:CF) and Lumber Liquidators Holdings Inc (NYSE:LL). On the losing end are Navios Maritime Holdings Inc. (NYSE:NM), United States Steel Corporation (NYSE:X) and Terex Corporation (NYSE:TEX)

Lee Surges Upon Reevaluating Plans

Topping off today’s midday gainers list is Lee Enterprises, Incorporated (NYSE:LEE), up +10.14%. The George Soros pick is an owner of newspaper and publishing subsidiaries. Earlier this month, the company reported revenues of $177.4 million. While it missed its 2012 mark by 4%, it also posted improvements in digital advertising sales. Its other business units, however, remain in the red, and today, Lee outlined a cost and revenue plan to improve performance.

Consistency is what makes the top 50 best-performing hedge funds so strong

Every month and quarter, multiple reports on average hedge fund returns are released from several sources. However, it can be difficult to sift through the many returns to uncover the most consistent hedge funds. The good news is that Eric Uhlfelder recently released his "2022 Survey of the Top 50 Hedge Funds," which ranks the Read More

Following Lee is CF Industries Holdings, Inc. (NYSE:CF), the stock price of which increased +8.05%. Soros is a shareholder in CF, as well as Ray Dalio, Richard Chilton and Thomas Steyer. While the company recently reported quarterly earnings having declined -31% year-over-year, it still beat Wall Street estimates. And moving forward, investors are hoping its nitrogen product line will perform well.

Surging +8% at midday, Lumber Liquidators Holdings Inc (NYSE:LL) rounds out our list of gainers this Wednesday. This Steve Mandel bet reported results today and issued an update on FY earnings guidance, raising its EPS outlook on higher-than-expected revenues.

DOC Ruling Spells Trouble for United States Steel

The biggest loser midday today is Navios Maritime Holdings Inc. (NYSE:NM), down -7.84%. The company missed Q4 EPS expectations by $0.09 despite higher revenues, and its stock price has declined -19.71% YTD.

Also taking a hit today is United States Steel Corporation (NYSE:X), which fell -6.07%. One of Jorge Lemann’s bets, the company was affected by a DOC ruling giving the Korean government the upper hand over dumping issues.

Last up this Wednesday is Terex Corporation (NYSE:TEX), down -5.23%. The global equipment manufacturer reported 2014 guidance today, falling short of analysts’ expectations. Demand levels are still considered strong, albeit less so than in previous quarters. The company has also been deeply hurt by turmoil in developing countries.

Updated on

iBillionaire provides access to the investment data and strategies of the world's most successful self-made billionaires. Mobile app available for iOS and Android. Maker of the iBillionaire Index (IBLN). More at www.iBillionaire.me.
Previous article ETFs = liquidity, But Not Better Investment
Next article Volatility ETFs Crash as Market Fears Drop

No posts to display