United States Steel Corporation (NYSE:X) second quarter revenue decline by 10%


Dallas, Texas 07/31/2013 (Financialstrend) – United States Steel Corporation (NYSE:X) released its second quarter results recently which shows that the company grounded with loss as revenue declined 10% to $4.59 billion, reported a loss of $78 million, or 54 cents a share compared to  $219 million, or $1.52 per share a year ago, cash flow is $117 million from  $237 million, loss of $51 million incurred in flat-rolled segment comparing to a profit of $177 million a year ago, flat-rolled products shipment fell to 6.5%.

United States Steel Corporation having larger trouble to export its product to china on the other domestic producers producing surplus steel product, this has caused harmful environment for the company as it is largely exposed to china’s market. In addition the domestic producer with surplus in steel  are finding way to export in Australia, Europe and U.S. producers of steel are affected by low prices as demand for steel fell and there is greater amount of surplus in supply resulted by uneven economic recovery

United States Steel Corporation (NYSE:X) had closed for the day on Tuesday with $17.71 per share with a bearish behavior of 6.69% over the previous day’s closing price. The intraday movements of the stock were between low values of $17.63 to a high value of $18.79 per share. The yearly stock price variations are between the lower values of $15.80 to a higher value of $26.29 per share. The shares held by the investors and the company insider’s account to 144.28 million with an institutional ownership of 65%. The total stock value of the company in the stock market is $2.56 billion. The trading trend of the company for its latest trading day was 15.38 million shares compared to the average trading volume over the month of 6.96 million shares.

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