These Steelmakers Sink To Bottom Of S&P 500 After Issuing Weak Guidance

Steelmakers Nucor (NUE) and Steel Dynamics (STLD) gave guidance below Wall Street expectations, even though both companies said demand and pricing remain largely firm. Both stocks fell sharply, and Nucor was the worst-performing stock in the S&P 500 this morning. Nucor said it expects third-quarter ending earnings of $5.55 to $5.65 per share, a sizable increase from the $2.63 it…