Market Overview

Another Dog Has Its Day: U.S. Steel


United States Steel Corporation (NYSE: X) shares are trading higher by $1.14 at $10.33 in Wednesday's session. Until a few days ago, it was one of the dogs in the market that had not undergone a substantial rally off its recent lows.

Since its close February 24 close ($7.73), the issue is in the midst of a five-day winning streak, adding 34 percent, or $2.62, to $10.35. From its January 28 low, it has added 68 percent or $4.20. It should be noted the low for the move was made two days after the Street was not pleased with its Q4 report.

Over this course of time, the only significant news related to the issue were downgrades by Cowen & Company (from Outperform to Neutral) and Macquarie (from Outperform to Neutral).

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