Nucor warning casts shadow over steel stocks

Dec 12, 2006 | 11:27 AM | Scott Robertson

Nucor Corp., Charlotte, N.C., has tempered its fourth-quarter earnings guidance, spurred by weaker than expected steel market conditions.

Earnings for the fourth quarter ended Dec. 31 are expected to land in a range of $1.05 to $1.15 per diluted share, Nucor said Tuesday. While that would be roughly on par with the $1.09 per share the company earned in the fourth quarter last year, it is far less than the record third-quarter earnings of $1.68 per share.

The warning cast a dark shadow over the sector as major steel producer stocks plunged.....

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