US Steel Higher And Volatile After Q3 Beat

by Joel Elconin, Benzinga Staff Writer

November 1, 2017 2:09 PM | 1 min read | Make a Comment

United States Steel CorporationX

shares are trading higher by $1.77 at $27.09 in Wednesday's session. The catalyst for the rally is a third-quarter adjusted EPS beat of 21 cents along with a sales beet of $188 million. Also, the company raised its fiscal-year 2017 EPS guidance from $1.65 estimate to $1.70.

After a much $2.00, plus, higher open, it continued in that direction until finally peaking at $29.33 and reversed course. That marks the highest level for the issue since April 24 when it peaked at $32.14. The following day it swooned to $22.78 when it was destroyed after missing Q1 EPS and sales estimates by a wide margin.

Since reaching that elevated level, it has drifted lower but has yet to reach the top of Tuesday's range ($25.98) as $26.67 stands as the low for the day as of 1:53 p.m. ET.

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