Tuesday October 27, 02:28 PM
STOCKS NEWS US-Steel index falls after company earnings
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Real (Frankfurt: BJU.F - news) -time Equity news
U.S. stock market report
0954 ET 27Oct2009-Steel index falls after company earnings
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The Dow Jones U.S. Steel index fell on Tuesday
after several companies in the sector reported quarterly
results.
United States Steel Corp shares fell 4.7 percent to
$38.69 after it reported results, which included a 61-percent
drop in revenue. The company also posted its third-straight
quarterly loss, though the loss was narrower than analysts were
expecting.
AK Steel Holding Corp dropped 5.5 percent to
$17.75. It swung to a third-quarter profit that was higher than
expected.
Schnitzer Steel Industries Inc shed 5.7 percent to
$48.28. While the company's fourth-quarter profit beat
expectations, its revenue fell 58 percent in the quarter.
The steel index fell 1.9 percent.
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