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What: Shares of all-American steel producer AK Steel
So what: Second-quarter earnings improved by 21% year-over-year on 12% higher sales. However, analysts were looking for at least 13% stronger revenues, and earnings were supposed to double.
Now what: Management identified the culprit as rising iron ore prices, calling the quarter "solid" as AK Steel continues on "the road to recovery." The company sports slimmer margins across the board when compared with rivals United States Steel
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