CEO David Burritt says his company faces plant closures and a smaller future if Nippon Steel isn't allowed to buy the business.
U.S. Steel's X -6.09%decrease; red down pointing triangle chief executive said the company would close steel mills and likely move its headquarters out of Pittsburgh if its planned sale to Nippon Steel 5401 -3.54%decrease; red down pointing triangle collapses.
U.S. Steel (X) shares tumbled Tuesday, a day after Democratic presidential candidate and Vice President Kamala Harris said that she supported the White House stance against Japan's Nippon Steel purchase of the Pittsburgh-based firm.
United States Steel Corporation (NYSE:X) stock is sliding today, last seen down 3.9% to trade at $36.43.
Vice President Kamala Harris expressed her opposition to Japanese firm Nippon Steel's $15 billion bid to take over U.S. Steel at a campaign event in Pittsburgh on Monday, echoing President Joe Biden's strong disapproval of the deal.
Nippon Steel will invest at least $1 billion to improve X's Mon Valley Works' competitiveness.
Although the revenue and EPS for U.S. Steel (X) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
U.S. Steel (X) tops earnings estimates in the second quarter amid pricing headwinds across its segments.
United States Steel (X) came out with quarterly earnings of $0.84 per share, beating the Zacks Consensus Estimate of $0.76 per share. This compares to earnings of $1.92 per share a year ago.
Beyond analysts' top -and-bottom-line estimates for U.S. Steel (X), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended June 2024.
U.S. Steel (X) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
NEW YORK, NY / ACCESSWIRE / July 23, 2024 / Pomerantz LLP is investigating claims on behalf of investors of United States Steel Corporation ("U.S. Steel" or the "Company") (NSYE:X). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext.