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Steel stocks (X -3.2%) stumbled today after AK Steel (AKS -2.8%) issued downward guidance...
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Monday, June 18, 2012, 5:20 PM ETSteel stocks (X -3.2%) stumbled today after AK Steel (AKS -2.8%) issued downward guidance and Jefferies lowered steel price/demand forecasts, earnings estimates and target prices. Though steel share valuations have already suffered, the firm expects trends to remain weak and prefers more defensive stocks within the group: WOR, RS, NUE, MUSA.
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