Steel Stocks Boosted by Trump: AK Steel Holding Corporation (AKS)
Shares of AK Steel Holding Corporation (NYSE:AKS) attempted to break up and out of their two-month uptrend channel on Friday, threatening to cross back above the 200-day moving average that was last tested in April. AKS shares fell more than 50% from their early January high as the “Trump-flation” rally faded amid a walking back of nationalistic trade threats and a slowdown in auto production. But with Trump apparently frustrated with China’s inability to control North Korea, he is looking at imposing a 20% tariff.
The company will next report results on July 25 before the bell. Analysts are looking for earnings of 14 cents per share on revenues of $1.56 billion. When the company last reported results on April 25, it reported earnings of 19 cents per share, which was 5 cents better than expected. Revenue increased 1% from the prior year period.