에 대한 최신 뉴스 Nucor (NYSE:NUE) 주식

Nucor

Nucor Corp manufactures steel and steel products. The company also produces direct reduced iron for use in its steel mills. The operations include international trading and sales companies that buy and sell steel and steel products manufactured by the company and others. The operating business segments are: steel mills, steel products, and raw materials, the steel mills segment derives maximum revenue. The steel mills segment includes carbon and alloy steel in sheet, bars, structural and plate; steel trading businesses; rebar distribution businesses; and Nucor's equity method investments in NuMit and NJSM.

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미국 철강관련 기업 뉴코(NYSE:NUE)의 주가는 회사가 월요일 2분기 재무 결과를 발표한 후 상승하고 있다. 보고서의 주요 수치는 다음과 같다.

뉴코: 예상을 상회하는 2분기 실적에도 약한 전망 지침에 주가 하락

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S&amp;P 500 기업들 중 약 14%가 6월 분기 실적을 발표했으며, 더 넓은 지수를 구성하는 기업들의 혼합 실적 성장률은 여전히 ​​양호하다. 이번 주에는 기술 보고 시즌이 공식적으로 시작될 것이며, 이는 최근 주에 가파른 하락세를 보인 시장의 향방을 잠재적으로 결정할 수 있다.

테슬라, 알파벳, GM 및 포드가 이번 주 실적 발표 주도하며 상승세 유지 위해 고군분투

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2024년 5월 20일 주요 뉴스: 1. 일본제철(Nippon Steel)은 노조 지도자들과 바이든 행정부의 반대에도 불구하고 U.S. 스틸(NYSE:X)을 141억 달러에 인수하기 위해 노력을 강화하고 있다. 

월요일 주요 광업 뉴스: 일본제철, 헤클라 마이닝, BHP와 앵글로 아메리칸, 스틸 다이나믹스, 뉴코

Nucor Corp

Nu Earth Corp

Nuveen ESG Emerging Markets Equity ETF

Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) shares are trading lower today. Yesterday, the company reported better-than-expected&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39894662/nucor-shares-climb-following-q2-results-what-to-know" rel="noreferrer noopener">second-quarter financial results</a>.
Nucor reported quarterly earnings of $2.68 per share, which beat the analyst consensus estimate of $2.35 by 14.04%. Quarterly sales came in at $8.08 billion, which beat the analyst <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39335851/whats-going-on-with-nucor-corp-stock-on-friday" rel="noreferrer noopener">consensus estimate of $7.69 billion by 5.13%</a>.
Nucor anticipates a decline in third-quarter 2024 earnings compared to the second quarter, primarily due to lower average selling prices <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">impacting the steel mills segment</a>.
KeyBanc Capital Markets analyst Philip Gibbs says that 3Q24 guidance suggests weaker earnings in Steel Products and <a target="_blank" href="https://www.benzinga.com/quote/nue/analyst-ratings" rel="noreferrer noopener">Raw Materials than his current model</a>.
The analyst notes that NUE&#8217;s average realized carbon sheet pricing/mix in 2024 remained above $1,000/t, compared to the current HRC spot price of ~$650/t and tandem product base prices of ~$875-$975/t (with NUE&#8217;s mix being roughly 50% HRC).
The analyst writes that this suggests NUE was shipping from a strong backlog. Additionally, the average realized plate pricing/mix exceeded $1,300/t, while the current baseline index pricing is $1,000-$1,050/t.
Investors can gain exposure to the stock via&nbsp;VanEck Steel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLX#NYSE">SLX</a>)&nbsp;and Carbon Collective Climate Solutions U.S. Equity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCSO#NASDAQ">CCSO</a>).
Price Action: NUE shares are down 0.97% at $161.75 at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Courtesy of Nucor Corporation

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Nucor's Q2 Earnings Beat Expectations, But Analyst Warns of Weaker Q3 Due to Lower Steel Prices

Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) shares are climbing after the company reported its second-quarter financial results Monday. Here's a look at the key <a href="https://www.benzinga.com/pressreleases/24/07/n39893908/nucor-reports-results-for-the-second-quarter-of-2024">figures from the report. </a>
The Details: Nucor reported quarterly earnings of $2.68 per share which beat the analyst consensus estimate of $2.35 by 14.04%. Quarterly sales came in at $8.08 billion, which beat the analyst consensus estimate of $7.69 billion by 5.13%.
A total of approximately 6.289 million tons were shipped to outside customers in the second quarter of 2024, a 1% increase compared with the first quarter of 2024 and a 5% decrease compared with the second quarter of 2023. 
Total steel mill shipments in the second quarter of 2024 were comparable to the first quarter of 2024 and decreased 2% as compared to the second quarter of 2023. Downstream steel product shipments to outside customers in the second quarter of 2024 increased 11% compared with the first quarter of 2024. 
Read Also: <a href="https://www.benzinga.com/news/24/07/39891006/sunpower-stock-attempts-to-bounce-back-whats-going-on">SunPower Stock Attempts To Bounce Back: What&#8217;s Going On?</a>
&#8220;While market conditions have softened compared to recent record-setting years, Nucor remains focused on its long-term growth strategy and has returned more than $1.7 billion to investors through June,&#8221; said Leon Topalian, Nucor&#8217;s CEO. 
&#8220;Nucor&#8217;s strategy to grow our core steelmaking operations and expand into steel-adjacent downstream markets positions the company to create attractive shareholder value and improve the company&#8217;s through-cycle earnings profile. I am incredibly proud of the 32,000 men and women of Nucor who are executing this growth plan while achieving the safest start to any year in Nucor&#8217;s history.&#8221;
Nucor will host a conference call Tuesday at 10 a.m. ET to discuss the results.
Outlook: Nucor said it expects earnings in the third quarter of 2024 to decrease compared to the second quarter of 2024. The largest driver for the expected decrease in earnings in the third quarter of 2024 is the expected decrease in earnings of the steel mills segment, primarily due to lower average selling prices.
NUE Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Nucor shares are up 1.02% after-hours at $165.01 at the time of publication Monday.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39891755/whats-going-on-with-coinbase-shares-today">What&#8217;s Going On With Coinbase Shares Today?</a></li>
</ul>
Image: Courtesy of Nucor Corporation

Nucor Shares Climb Following Q2 Results: What To Know

WIIM

Nucor shares are trading higher after the company reported better-than-expected Q2 financial results.

We expect earnings in the third quarter of 2024 to decrease compared to the second quarter of 2024. The largest driver for the expected decrease in earnings in the third quarter of 2024 is the expected decrease in earnings of the steel mills segment, primarily due to lower average selling prices. We expect earnings in the steel products segment to decrease in the third quarter of 2024 as compared to the second quarter of 2024 due to lower average selling prices. The earnings of the raw materials segment are expected to decrease in the third quarter of 2024 as compared to the second quarter of 2024.

Guidance

Nucor Sees Q3 2024 Earnings To Decrease Compared To Q2 2024

Nucor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) reported quarterly earnings of $2.68 per share which beat the analyst consensus estimate of $2.35 by 14.04 percent. The company reported quarterly sales of $8.08 billion which beat the analyst consensus estimate of $7.69 billion by 5.13 percent. This is a 15.15 percent decrease over sales of $9.52 billion the same period last year.

Earnings Beats

Nucor Q2 2024 Adj EPS $2.68 Beats $2.35 Estimate, Sales $8.08B Beat $7.69B Estimate

Wall Street started the new week on a positive note, with all major indices in the green. A rebound in tech stocks following last week&#8217;s dips bolstered overall investor sentiment. Investors focused on the start of the tech earnings season, looking past President Joe Biden&#8216;s withdrawal<a href="https://www.benzinga.com/general/politics/24/07/39886916/harris-vs-trump-can-bidens-vp-defeat-former-president-head-to-head-polls-reveal-close-race"> from the reelection campaign.</a>
Semiconductor stocks, which plunged last week due to threats of increased curbs on China, rallied on Monday. The VanEck Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NYSE">SMH</a>) and the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) both rose by 2.5%.
The tech-heavy Nasdaq 100 index surged 1% by 12:40 p.m. in New York, poised to snap a three-day losing streak. The S&amp;P 500 edged up 0.7%, while blue-chip stocks in the Dow Jones took a breather. Small-cap stocks showed a 0.4% gain.
In the election arena, betting-implied odds of Kamala Harris winning the November election rose to 29% after Biden dropped his reelection campaign. 
Treasury yields increased, with the 30-year yield up 5 basis points to 4.5%, sending the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) down by 0.7%. The dollar remained steady.
In commodities, metals softened with gold, silver and copper down 0.4%, 0.5% and 1%, respectively. In energy, natural gas spiked by 7%, driven by Freeport LNG resuming shipments after Hurricane Beryl and expectations of higher cooling demand due to hot weather. Oil prices, tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), fell 0.7%, with West Texas Intermediate (WTI) light crude on track to close at its lowest level in over a month.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) dropped 1.8%.
<h3 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %change</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,723.29</td>
<td>1.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,541.77</td>
<td>0.7%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,192.78</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,296.68</td>
<td>0.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:40 p.m. ET </figcaption></figure>
According to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071924&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.6% higher to $552.42.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;held steady at $402.80.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) rose 1.1% to $480.36.</li>
<li>Sector-wise, the Technological Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)&nbsp;outperformed, up by 1.6%, while the&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.5%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul>
<li>CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) tumbled 13% after plummeting over 11% Friday, after the cybersecurity company was downgraded by several investment banks, including Scotiabank, Guggenheim and BTIG, coupled with trimmed price target cuts.</li>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) surged 3.8% after Reuters reported Monday the chipmaker is developing a version of its new flagship Blackwell AI chip tailored for the Chinese market, ensuring it complies with U.S. export controls.</li>
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) fell 6.4% in reaction to quarterly results that showed earnings broadly matching expectations but a miss on the revenue front. </li>
<li>Other stocks reacting to company earnings were Truist Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>), up 2.9% and IQVIA Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IQV#NYSE">IQV</a>), up 6.2%. </li>
<li>Mattel Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) rallied over 19% following reports of an acquisition offer by L Catterton.</li>
<li>Companies expected to report earnings after the close include Cadence Design Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>), NXP Semiconductors NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>), Brown &amp; Brown Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRO#NYSE">BRO</a>) and W.R. Berkley Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WRB#NYSE">WRB</a>). </li>
</ul>
Read Now:
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<li> <a href="https://bzresearch.myclickfunnels.com/latest-research-webinar-redirect-evergreen?utm_source=website-content" target="_blank" rel="noreferrer noopener">Turn Trading Into The Ultimate Side Hustle Using Benzinga Tools In A Free Webinar</a></li>
</ul>
Photo via Shutterstock.

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US Stocks Rebound As Tech Surges, CrowdStrike Continues Selloff, Oil Hits 1-Month Lows: What's Driving Markets Monday?

U.S. stocks could shake off the past week&#8217;s negativity and push ahead on expectations of a healthy reporting season, the Federal Reserve cutting rates, and the rising odds of a victory for former President Donald Trump in the Nov. election. President Joe Biden on Sunday confirmed the inevitable by announcing that he is quitting the race. As the market begins in a <a href="https://www.benzinga.com/news/24/07/39878848/trump-vs-harris-first-poll-after-bidens-exit-shows-majority-approve-of-decision-but-heres-how-it-mig">price in a victory for Trump,</a> known for his pro-business and pro-crypto stance, sentiment could reverse course from the negativity seen last week.
Bargain hunting in beaten-down stocks could lend support. Given most economic data is back-end loaded this week and the Fed has gone into a blackout period, the spotlight is likely to be on earnings that begin to trickle in.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.86%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.53%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.18%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.52%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> Cues From Last Week:</figcaption></figure>
Comments from Trump, and Biden, who has since then quit the presidential race, stirred up geopolitical tensions, sending stocks lower in the latter half of the week ended July 19. Techs bore the brunt of the selling amid worries that Trump&#8217;s stance toward Taiwan may weigh down on suppliers from this island nation and Biden did his part by suggesting more China chip ban. 
The market continues&nbsp;to struggle to find a new floor, said fund manager Louis Navellier. The historically strong&nbsp;first&nbsp;two weeks of July delivered and it&#8217;s been rocky ever since, he said. Navellier sees the pullback as more of profit taking in the biggest winners for the year.
&#8220;Hard to say if we will be looking at a full 5% correction, but we should be back on track soon if earnings continue to deliver,&#8221; he added.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-3.65%</td>
<td>17,726.94</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-1.97%</td>
<td>5,505.00</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.72%</td>
<td>40,287.53</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.67%</td>
<td>2,184.35</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Monday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.53% to $551.88, while the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) climbed 0.88% to $479.44, according to <a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Insights From Analysts:
Gina Bolvin, President of Bolvin Wealth Management Group, said she sees more volatility ahead. &#8220;Biden stepping down is a whole new level of political uncertainty. This may be the catalyst for market volatility that is overdue,&#8221; she said.
Commenting on the small-cap move, Carson Group&#8217;s Ryan Detrick suggested that these stocks could be in for further upside. He noted that the Russell 2,000 was up more than 10% in 10 trading days. This, the strategist, said has happened only 23 other times since 1979. &#8220;Future returns are quite strong, up nearly 27% a year later and higher 86% of the time,&#8221; he said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Russell 2000 was just up more than 10% in 10 trading days. Since 1979 (when it started trading), this has happened only 23 other times (taking the first signal in a cluster). Future returns are quite strong, up nearly 27% a yr later and higher 86% of the time. <a href="https://t.co/KWHHso28xg">pic.twitter.com/KWHHso28xg</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1814731435023925323?ref_src=twsrc%5Etfw">July 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Upcoming Economic Data:
The economic calendar of the week is back-end loaded, with the key June personal income and spending report, which has data on the Fed&#8217;s favorite inflation gauge, the June durable goods orders report and the first read of the second-quarter GDP report all lined up for release. 
Traders may also pay attention to S&amp;P Global&#8217;s flash manufacturing and service activity readings, the June existing and new home sales reports and the University of Michigan&#8217;s final consumer sentiment report for July.
On Monday, the Treasury will auction three- and six-month bills at 11:30 a.m. EDT.
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus:
<ul>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) rose over 2.20% in premarket trading on reports the <a href="https://www.benzinga.com/news/24/07/39877062/nvidia-reportedly-developing-a-new-version-of-its-flagship-ai-chip-for-chinese-market-amid-us-export">company is working on a new chip for the Chinese market.</a></li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) rose ahead of their earnings due after the market close Tuesday.</li>
<li>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) extended its losses from Friday incurred on the back of the global outage caused by its update for Microsoft systems. The stock fell over 3%.</li>
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) is notable among the companies scheduled to report before the market opens.</li>
<li>Those reporting after the close include Agilysys, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGYS#NASDAQ">AGYS</a>), Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>), Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) and NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>).</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures, which fell sharply on Friday and moved below $80 a barrel, were seen extending their losses. Gold futures rose modestly and held above the $2,400 mark. The 10-year Treasury yield fell 1.4 points to 4.22%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) climbed amid Biden&#8217;s decision to stand out of the presidential race and traded around the $67.4K level.
The Asian markets ended mostly lower, except the Hong Kong and Indonesian markets. China&#8217;s central bank unexpectedly cut short and long-term interest rates, its first such broad move since August last year, to support the domestic economy. The broadly negative move came amid apprehensions about the pullback by the U.S. stocks last week.
European stocks advanced strongly in early trading amid bargain hunting following last week&#8217;s losses.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39874391/tesla-alphabet-gm-ford-lead-earnings-parade-this-week-as-market-struggles-to-sustain-the-summer-">Tesla, Alphabet, GM, Ford Lead Earnings Parade This Week As Market Struggles To Sustain The Summer Rally</a></li>
</ul>
Stocks Photo by Phongphan on Shutterstock

Futures

Economics

Federal Reserve

Pre-Market Outlook

Wall Street Set To Rebound Amid Hopes Of Strong Earnings: 'Political Uncertainty' Caused By Biden Stepping Down Could Be 'Catalyst For Market Volatility,' Says Analyst

About <a href="https://www.benzinga.com/news/earnings/24/07/39769910/goldman-sachs-q2-earnings-revenue-and-eps-beat-investment-banking-fees-up-21-hikes-dividend">14% of the S&amp;P 500 companies have reported their June quarter earnings</a> and the blended earnings growth rate for the companies constituting the broader index remains healthy. The coming week will see the official start of the tech reporting season, which could potentially decide the fate of the market, which has seen a steep pullback in the recent week.
The Week That Was: The tech earnings season had a modest start last week with the earnings report from chip-equipment maker ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>). The stock slumped about 16%, dragged by its weak third-quarter outlook and geopolitical concerns surrounding the China chip ban. Netflix, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) guidance disappointed investors, but with sell-side analysts raving over the results, the stock did not get hammered.
Investors cheered earnings reports from the remaining big banks, namely Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) and Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>). A rebound in investment banking business and strong trading revenue helped the banks shore up their topline.
Of these companies, 80% reported earnings per share above estimates compared to the five-year average of 77%, said FactSet in its latest earnings insight <a href="https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_071924.pdf">report.</a> The average upside is about 5.5%, which, however, is below the five-year average of 8.6%.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Earnings Trend: The blended earnings growth rate for the S&amp;P 500 companies for the second quarter is currently estimated at 9.7%, up from 9.1% in the previous week, FactSet noted. If the estimate is hit, the actual growth rate for the quarter will mark the highest year-over-year rate reported since the fourth quarter of 2021, it added. The second quarter will also likely mark the fourth consecutive quarter of growth.
Eight of the qq S&amp;P 500 sectors are expected to report year-over-year earnings growth, with four, namely communication services, healthcare, IT, and financials, likely reporting double-digit earnings growth. On the other hand, three sectors will likely report earnings declines, led by the materials sector.
The Week Ahead: The unfolding week will see earnings reports from 138 S&amp;P 500 companies, including seven Dow 30 components, Factset report said. The earnings slate for the week includes companies from the telecom, auto, steel, chip, homebuilding, defense, airline and tech industries.
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) are among the closely watched copmanies, given their heavy weightings in the S&amp;P 500 and the Nasdaq indices. Tesla is widely expected to report a sharp year-over-year decline in its earnings per share from 91 cents to 62 cents, while revenue may have seen a much more modest 0.80% decline to $24.73 billion. The greater impact on the bottom line comes from the price cuts that Elon Musk&#8216;s company has relied on to push volume in a challenging demand environment.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39810457/as-tesla-stock-bounces-back-fund-manager-says-elon-musk-led-company-offers-good-set">Analysts and fund managers are optimistic</a> after the company reported a deliveries beat for the quarter. They also expect an inflection in the second-half of the year.
Alphabet&#8217;s earnings are important because it is the first among the AI-levered mega-cap companies to release its quarterly results, which might set the tempo for the earnings from the rest in the space. 
The stock market took a hit last week as major indices retreated from their record highs.The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an index that tracks the performance of the Nasdaq 100 Index, ended Friday&#8217;s session down 0.89% to $475.24, according to Benzinga Pro data. The ETF is trading off its record close of $502.96 reached on July 10. The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.66% on Friday before closing at $548.99.
Notable among the companies reporting this week are:
Monday
Before market open:
<ul>
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>)</li>
</ul>
After close:
<ul>
<li>Agilysys, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGYS#NASDAQ">AGYS</a>)</li>
<li>Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>)</li>
<li>Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>)</li>
<li>NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>)</li>
</ul>
Tuesday
Before market open:
<ul>
<li>&nbsp;Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>)</li>
<li>Freeport-McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>)</li>
<li>GATX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GATX#NYSE">GATX</a>)</li>
<li>GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>)</li>
<li>General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>)</li>
<li>Kimberly-Clark Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NYSE">KMB</a>)</li>
<li>Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>)</li>
<li>Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>)</li>
<li>PulteGroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>)</li>
<li>Quest Diagnostics Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>)</li>
<li>Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>)</li>
<li>United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>)</li>
</ul>
After close:
<ul>
<li>Alphabet</li>
<li>Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>)</li>
<li>Chubb Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>)</li>
<li>Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>)</li>
<li>Packaging Corporation of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>)</li>
<li>Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>)</li>
<li>Tesla</li>
<li>Texas Instruments, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>)</li>
<li>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>)</li>
</ul>
Wednesday
Before market open:
<ul>
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>)</li>
<li>Check Point Software Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHKP#NASDAQ">CHKP</a>)</li>
<li>Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>)</li>
<li>CME Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CME#NASDAQ">CME</a>)</li>
<li>General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>)</li>
<li>Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>)</li>
<li>GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>)</li>
<li>Thermo Fisher Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>)</li>
</ul>
After close:
<ul>
<li>Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>)</li>
<li>Edwards Lifesciences Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>)</li>
<li>Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>)</li>
<li>International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>)</li>
<li>Knight-Swift Transportation Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>)</li>
<li>Las Vegas Sands Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>)</li>
<li>Meritage Homes Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>)</li>
<li>Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>)</li>
<li> ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) ORLY</li>
<li>O&#8217;Reilly Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>)</li>
</ul>
Thursday
Before market open:
<ul>
<li>AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>)</li>
<li>American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) </li>
<li>AstraZeneca PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>)</li>
<li>Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>)</li>
<li>Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>)</li>
<li>Hasbro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>)</li>
<li>Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>)</li>
<li>Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>)</li>
<li>Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>)</li>
<li>STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>)</li>
<li>Union Pacific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>)</li>
<li> Xerox Holdings Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NASDAQ">XRX</a>)</li>
</ul>
After close:
<ul>
<li>SkyWest, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYW#NASDAQ">SKYW</a>)</li>
<li>Juniper Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>)</li>
<li>Deckers Outdoor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>)</li>
<li>Boyd Gaming Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>)</li>
<li>BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>)</li>
<li>VeriSign, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRSN#NASDAQ">VRSN</a>)</li>
</ul>
Friday
Before market open:
<ul>
<li>3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>)</li>
<li>Barnes Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>)</li>
<li>Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>)</li>
<li>Newell Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWL#NASDAQ">NWL</a>)</li>
<li>Colgate-Palmolive Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>)</li>
<li>Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>)</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/39857569/american-express-q2-earnings-ceo-raises-annual-profit-and-marketing-spend-outlook-after-q2-profit-b">American Express Q2 Earnings: CEO Raises Annual Profit And Marketing Spend Outlook After Q2 Profit Beat</a></li>
</ul>
Photo: Shutterstock

Tesla, Alphabet, GM, Ford Lead Earnings Parade This Week As Market Struggles To Sustain The Summer Rally

Throughout the last three months, 7 analysts have evaluated Nucor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>), offering a diverse set of opinions from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $186.43, a high estimate of $200.00, and a low estimate of $170.00. A 4.39% drop is evident in the current average compared to the previous average price target of $195.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1721152823_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
The standing of Nucor among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Bill Peterson</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$170.00</td>
<td>$180.00</td>
</tr>
<tr>
<td>Lawson Winder</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$200.00</td>
<td>$210.00</td>
</tr>
<tr>
<td>Katja Jancic</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$175.00</td>
<td>$185.00</td>
</tr>
<tr>
<td>Bill Peterson</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$180.00</td>
<td>$190.00</td>
</tr>
<tr>
<td>Christopher LeFemina</td>
<td>Jefferies</td>
<td>Announces</td>
<td>Hold</td>
<td>$190.00</td>
<td>-</td>
</tr>
<tr>
<td>Katja Jancic</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$200.00</td>
<td>$210.00</td>
</tr>
<tr>
<td>Bill Peterson</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$190.00</td>
<td>$195.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Nucor. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Nucor compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Nucor's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Nucor's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/NUE/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Nucor analyst ratings.</a>
<h2>All You Need to Know About Nucor</h2>
Nucor Corp manufactures steel and steel products. The company also produces direct reduced iron for use in its steel mills. The operations include international trading and sales companies that buy and sell steel and steel products manufactured by the company and others. The operating business segments are: steel mills, steel products, and raw materials, the steel mills segment derives maximum revenue. The steel mills segment includes carbon and alloy steel in sheet, bars, structural and plate; steel trading businesses; rebar distribution businesses; and Nucor's equity method investments in NuMit and NJSM.
<h3>A Deep Dive into Nucor's Financials</h3>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Revenue Challenges: Nucor's revenue growth over 3 months faced difficulties. As of 31 March, 2024, the company experienced a decline of approximately -6.58%. This indicates a decrease in top-line earnings. When compared to others in the Materials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Nucor's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 10.34% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Nucor's ROE excels beyond industry benchmarks, reaching 4.04%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 2.43%, the company showcases effective utilization of assets.
Debt Management: Nucor's debt-to-equity ratio is below the industry average. With a ratio of 0.33, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What Analysts Are Saying About Nucor Stock

JP Morgan analyst Bill Peterson maintains Nucor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) with a Neutral and lowers the price target from $180 to $170.

Price Target

JP Morgan Maintains Neutral on Nucor, Lowers Price Target to $170

CENX

Shares of metals stocks are trading higher following the attempted assassination of Donald Trump, which has lifted stocks that could potentially benefit from a Trump presidency on Monday. During his presidency, Trump raised tariffs on steel and aluminum.

ZEUS

Shares of industrial metal stocks are trading higher following softer-than-expected June CPI figures.

Nucor's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) short percent of float has fallen 5.31% since its last report. The company recently reported that it has 5.56 million shares sold short, which is 3.03% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.64 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Nucor Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720638014_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Nucor has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Nucor's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Nucor's peer group average for short interest as a percentage of float is 6.47%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(NUE) - Analyzing Nucor's Short Interest

Nucor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) has outperformed the market over the past 5 years by 10.41% on an annualized basis producing an average annual return of 23.49%. Currently, Nucor has a market capitalization of $37.55 billion. 
Buying $100 In NUE: If an investor had bought $100 of NUE stock 5 years ago, it would be worth $287.08 today based on a price of $156.60 for NUE at the time of writing.
<h3>Nucor's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720018823_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In Nucor 5 Years Ago Would Be Worth This Much Today

B of A Securities analyst Lawson Winder maintains Nucor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) with a Buy and lowers the price target from $210 to $200.

B of A Securities Maintains Buy on Nucor, Lowers Price Target to $200

The most oversold stocks in the materials sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Ball Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BALL#NYSE">BALL</a>)</h3>
<ul>
<li>On June 25, Truist Securities analyst Michael Roxland upgraded Ball from Hold to Buy and raised the price target from $67 to $76. The company's stock fell around 8% over the past five days and has a <a href="https://www.benzinga.com/quote/BALL">52-week low of $42.81</a>.</li>
<li>RSI Value: 29.32</li>
<li>BALL Price Action: Shares of Ball fell 0.3% to close at $61.40 on Tuesday.</li>
<li><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent062624&amp;t=be2bearmibe3na1">Benzinga Pro's real-time newsfeed</a> alerted to latest Ball&#8217;s news.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="676" height="739" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26000245/Screenshot-2024-06-26-at-11.02.34-AM.png" alt="" class="wp-image-405670" style="width:424px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26000245/Screenshot-2024-06-26-at-11.02.34-AM.png 676w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26000245/Screenshot-2024-06-26-at-11.02.34-AM-274x300.png 274w" sizes="(max-width: 676px) 100vw, 676px" /></a></figure>
<h3 class="wp-block-heading">O-I Glass Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>)&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On June 18, O-I Glass announced plans to invest $65 million in electrification and decarbonization in Veauche, France. The company's stock fell around 14% over the past month. It <a href="https://www.benzinga.com/quote/OI">has a 52-week low</a> of $10.78.</li>
<li>RSI Value: 27.50</li>
<li>OI Price Action: Shares of O-I Glass fell 0.9% to close at $10.98 on Tuesday.</li>
<li>Benzinga Pro's charting tool helped identify the <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent062624&amp;t=be2bearmibe3na1">trend in OI&#8217;s stock</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="690" height="747" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26000354/Screenshot-2024-06-26-at-11.03.45-AM.png" alt="" class="wp-image-405671" style="width:478px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26000354/Screenshot-2024-06-26-at-11.03.45-AM.png 690w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26000354/Screenshot-2024-06-26-at-11.03.45-AM-277x300.png 277w" sizes="(max-width: 690px) 100vw, 690px" /></a></figure>
<h3 class="wp-block-heading">Nucor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>)</h3>
<ul>
<li>On June 14, Nucor cautioned that it expects earnings of $2.20 to $2.30 per diluted share, significantly lower than $5.81 in the year-ago period. The earnings expectations fell short of the $2.99 consensus. The company's stock fell around 10% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/NUE">low of $140.08</a>.</li>
<li>RSI Value: 28.67</li>
<li>NUE Price Action: Shares of Nucor fell 2.6% to close at $151.48 on Tuesday.</li>
<li>Benzinga Pro's signals feature notified of a <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent062624&amp;t=be2bearmibe3na1">potential breakout in NUE's shares</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="661" height="747" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26000510/Screenshot-2024-06-26-at-11.05.00-AM.png" alt="" class="wp-image-405672" style="width:468px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26000510/Screenshot-2024-06-26-at-11.05.00-AM.png 661w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26000510/Screenshot-2024-06-26-at-11.05.00-AM-265x300.png 265w" sizes="(max-width: 661px) 100vw, 661px" /></a></figure>
Read More: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/06/39478357/gossamer-bio-and-2-other-stocks-under-2-insiders-are-buying">Gossamer Bio And 2 Other Stocks Under $2 Insiders Are Buying</a>

BALL

Top 3 Materials Stocks That May Explode In Q2

Nucor's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) short percent of float has risen 6.31% since its last report. The company recently reported that it has 5.87 million shares sold short, which is 3.2% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.46 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Nucor Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1719234015_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Nucor has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Nucor's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Nucor's peer group average for short interest as a percentage of float is 6.18%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Nucor?

Nucor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) has outperformed the market over the past 20 years by 2.85% on an annualized basis producing an average annual return of 10.96%. Currently, Nucor has a market capitalization of $36.90 billion. 
Buying $100 In NUE: If an investor had bought $100 of NUE stock 20 years ago, it would be worth $806.13 today based on a price of $153.91 for NUE at the time of writing.
<h3>Nucor's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1718638219_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 20 Years Ago Would Be Worth $800 Today

BMO Capital analyst Katja Jancic maintains Nucor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) with a Market Perform and lowers the price target from $185 to $175.

BMO Capital Maintains Market Perform on Nucor, Lowers Price Target to $175

Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) announced its second-quarter outlook on Friday but it failed to <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">uplift investor sentiment</a>.
The steel maker cautioned that it expects earnings of <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/n39329976/nucor-announces-guidance-for-the-second-quarter-of-2024-earnings" rel="noreferrer noopener">$2.20 to $2.30&nbsp;per diluted share</a>, significantly <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">lower than&nbsp;$5.81&nbsp;in the year-ago period</a>. The earnings expectations fell short of the $2.99 consensus.
Lower average selling prices and lackluster volumes at the steel mills segment are driving the expected decrease in earnings.
In addition, the steel products segment also bears the brunt of lower average selling prices.
Check This Out: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39141819/nucor-expands-beyond-steelmaking-with-acquisition-of-rytec-details" rel="noreferrer noopener">Nucor Expands Beyond Steelmaking With Acquisition Of Rytec: Details</a>
Earnings in the raw materials segment are expected to be higher than in the sequential quarter due to the increased profitability of our direct reduced iron facilities.
During the second quarter, Nucor said it had repurchased approximately 2.9 million shares at an average price of&nbsp;$170.70.
Nucor has returned more than&nbsp;$1.76 billion&nbsp;to stockholders in the form of share repurchases and dividend payments year-to-date.
At the end of the first quarter of 2024, Nucor had $5.54 billion in cash and cash equivalents, short-term investments and <a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38365860/nucor-shares-fall-after-worse-than-expected-q1-results" rel="noreferrer noopener">restricted cash and cash equivalents on hand.</a>
The company's $1.75 billion revolving credit facility remains undrawn and does not expire until November 2026.&nbsp;
Price Action: NUE shares are trading higher by 0.22% to $154.46 at the last check on Friday.
Photo Courtesy of Nucor

General

What's Going On With Nucor Corp Stock On Friday?

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Nucor Invites You to Join Its First Quarter of 2024 Conference Call on the Web

Nucor Reports Results for the First Quarter of 2024

Nucor Executive Vice President Douglas J. Jellison to Retire; Randy J. Spicer to be Promoted

Nucor to Acquire Manufacturer of High-Performance Commercial Doors

Dividends

Nucor Announces 205th Consecutive Cash Dividend

Nucor Announces Guidance for the Second Quarter of 2024 Earnings

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Nucor Invites You to Join Its Second Quarter of 2024 Conference Call on the Web

Nucor Reports Results for the Second Quarter of 2024

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