AK Steel Holding Corporation Drops On Lowered Guidance; Sector Higher On Commodity Rally

Related AKS Markets Reverse Early Morning Losses; Still Lower On The Day Bank Of America Bullish On Steel

Following weak guidance , shares of AK Steel Holding Corporation (NYSE: AKS) are trading down 6.8 percent at $10.07.

Owing to a closure of a Kentucky furnace and lower production, AK Steel said it expects shipments to fall by about three percent in the third quarter from the second quarter to 1.35 million tons, and it expects to report a profit of $0.05 to $0.10 a share, versus previous guidance of $0.26 a share.

Other steel stocks, though, are higher on a general rally in commodities.

Nucor Corporation (NYSE: NUE) was up 2.2 percent at $55.10, United States Steel Corporation (NYSE: NUE) was higher by 2.8 percent at $39.18, and Steel Dynamics, Inc. (NASDAQ: STLD) rose three percent at $23.90.

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