U.S. Steel Corp. X, -1.84% announced Thursday afternoon that its financial performance will be worse than expected in the fourth quarter, and the company plans to slash its dividend, suspend stock repurchases, lay off workers and suspend some operations. In two news releases, the steel giant said that it now expects to report an adjusted loss of $1.15 a share in the fourth quarter; analysts had expected U.S. Steel to report an adjusted loss of 62 cents a share, according to FactSet.
#div-gpt-ad-1569967089584-0 > div > iframe { width: 100% !important; min-width: 300px; max-width: 800px; }
So much for trying to save steel jobs. Also, recession is coming and companies know it. Not sure if I like CLF’s buyout of AKS. How many steel workers is Cleveland Cliffs going to cut? Mergers always come with cost cutting. Buyouts also come with debt.
I thought the MAGAts ideology would be our savior, said a steel worker to the coal miner.
MAGA2020
Maga !!!
US Steel has been a mismanaged disaster for years.
I thought Trump was going “save” them?
maga
Failed Trump! Failed MAGA! No return of high paying steel jobs from China & elsewhere to his suffering rust belt & his white working class voters! Do they still love him?
So much winning!
So the USMCA is not likely to help?
Tariff Man.
Strongest economy ever.
Hyman Roth is a better investment