Nucor Corporation's (NUE) premarket decline clashes with the upswing in global steel demand driven by infrastructure projects and manufacturing resurgence. Therefore, strong steel stocks Voestalpine AG (VLPNY), Ternium S.A. (TX), and Nippon Steel Corporation (NPSCY) could make better buys instead. Let’s understand this in detail.
NUE’s premarket trading witnessed a decline in shares following the release of its subdued third-quarter guidance. The company anticipates earnings from $4.10 to $4.20 per share, falling short of analysts' projections of $4.61. This compares to its second-quarter earnings of $5.81 per share.
