Stocks in the steel sector were trending higher on Thursday, possibly due to the earnings beat of Carpenter Technology Corporation CRS.
Carpenter reported EPS of $0.20 per share, beating estimates by 25 percent or $0.04 per share.
Steel stocks that moved higher on the earnings beat:
Carpenter Technology Corporation up 13 percent
United States Steel Corporation X up 4.3 percent.
Timkensteel Corp (NYSE TMST) up 2.8 percent.
Commercial Metals Company CMC up 1.9 percent.
On the other hand, Nucor Corporation NUE was down 1.1 percent, despite beating earnings estimates Thursday.
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