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What: Shares of U.S. Steel
So what: Results are down from a year ago, but they were still better than analysts had expected. Revenue fell 2% to $5.02 billion and net income fell from $222 million to $101 million, or $0.62 per share. The bar had been set much lower, though, with analysts expecting $0.47 in EPS and $4.99 million in revenue.
Now what: The results may be been better than expected, but they were still down, and the company expects overall results to be worse in the third quarter. Results have been all over the place in recent quarters and analysts have been slashing estimates like crazy in the last three months. I like the earnings beat, but the company's direction doesn't excite me, so I'll sit out the move today.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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