20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
United States Steel Corporation (NYSE:X) shares are volatile in Thursday's after-hours session on the heels of the company's second-quarter report. Here's a rundown of the results and a look at what's driving the action.
What Happened: The company reported quarterly earnings of $1.92 per share, which beat the analyst consensus estimate of $1.80, a 50.26% decrease over earnings of $3.86 per share from last year. The company reported quarterly sales of $5.01 billion, which missed the analyst consensus estimate of $5.11 billion, a 20.38% decrease over sales of $6.29 billion in the same period last year.
Total steel shipments for Q2 were 3.97 million tons, down 5.2% year-over-year. Total Capex in the quarter was $613 million, up 97%.
U. S. Steel President and CEO David B. Burritt said, "We are pleased to deliver strong results for the quarter, supported by healthy sequential growth in the Mini Mill segment in both adjusted EBITDA and EBITDA margin. We generated $713 million of cash from operations in the quarter and free cash flow of $101 million, further strengthening our balance sheet.
"Our in-flight strategic projects remain fully funded and we are prioritizing direct returns consistent with our capital allocation framework, with $86 million returned to stockholders through buybacks and dividends in the second quarter."
Related Link: Enphase Stock Plunges After Q2 Earnings - Here's Why
X Price Action: X shares were down 0.12% after hours at $25.00 at the time of publication, according to Benzinga Pro.
Image by Michal Jarmoluk from Pixabay
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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