The Buzz
U.S. Steel has mettle
July 31, 2012: 2:34 PM ET
It's good to be Superman for a day.
U.S. Steel's stock (X) is rallying after the Pittsburgh-based steelmaker reported earnings that swept past forecasts by a wide margin, although revenues were just in line. On top of that, U.S. Steel was cautious about the third quarter so the stock's flight may be a short-lived one.
And it also seems X does not mark the spot for StockTwits users.
etfdigest:"US Steel Income Cut in Half, but Beats View" $X this is what passes for spin now. Lower then beat. Silly $SPY
z8angela: When the forgotten old dogs begin to bark & spearhead the market's advance, the stock market is on its last feeble legs.-William O'Neil $X
And that's a mighty fine point, especially given how hard hit the stock has been. Over the past 12 months, shares of U.S. Steel have melted down.
Jinweb: $X US Steel said expecting a worst 3rd quarter. This type of talk starts bringing a stock down in a day or two. Enjoy for now. $15 to $10.
And that's exactly what U.S. Steel's rivals are doing - enjoying the run...for now.
Shares of AK Steel (AKS) are up more than 5% and Nucor (NUE) has gained almost 2%.
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