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AK Steel Shares Plunged: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of AK Steel (NYSE: AKS  ) fell 14% after reporting a decline in shipments and disappointing third-quarter financial results. U.S. Steel (NYSE: X  ) also fell on news of wider-than-expected losses in its European division, Bloomberg reported.

So what: Revenue rose just under 1% to $1.59 billion, resulting in a $0.03-per-share net loss. Analysts had been calling for a $0.01 loss on $1.66 billion in revenue, according to data compiled by Yahoo! Finance.

Now what: In a statement, CEO James Wainscott blamed the misses on "a sputtering economy and extraordinarily high raw-materials costs." The implication? Unless the economy does a U-turn, investors shouldn't expect shares of AK Steel to recover anytime soon. Do you agree? Disagree? Please weigh in using the comments box below.

Interested in more info AK Steel? Add it to your watchlist.

Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn't own shares in any of the companies mentioned at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Google+ or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.

Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


Read/Post Comments (2) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On October 26, 2011, at 1:01 AM, HoldThatWinner wrote:

    Hi Tim,

    It actually would have been a beat if not for the Butler Furnace (I actually thought it would have already been priced in).

    Regarding the raw material costs, they actively trying to help curb those costs through the recent acquisitions.

    I just have a feeling 2012 will be better than everybody expects, including the CEO.

    HTW

  • Report this Comment On October 26, 2011, at 1:02 AM, HoldThatWinner wrote:

    *are

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Tim Beyers
TMFMileHigh

Tim Beyers first began writing for the Fool in 2003. Today, he's an analyst for Motley Fool Rule Breakers and Motley Fool Supernova. At Fool.com, he covers disruptive ideas in technology and entertainment, though you'll most often find him writing and talking about the business of comics. Find him online at timbeyers.me or send email to tbeyers@fool.com. For more insights, follow Tim on Google+ and Twitter.

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