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Tariffs won’t cure what ails U.S. Steel, Wells Fargo analyst says

  • U.S. Steel (X -2.1%) gives up much of the bump it received late Friday on the Commerce Department's determination that Korean companies had dumped steel tubes into the U.S and slapped penalties of up to 15.75% on some Korean companies.
  • Wells Fargo’s Sam Dubinky says the tariffs aren’t a game-changer for U.S. Steel, and remains cautious as it believes shares have been rewarded prematurely on management’s commitment to institute deep costs cuts, which while positive, could be overshadowed by weaker sheet pricing; the firm also thinks U.S. Steel’s cost advantage relative to peers will decline due to falling iron ore prices.
  • AKS -1.1%, NUE -0.1%, STLD -1.2%, RS -0.3%, SCHN -1%.
Comments (2)
  • Tradestar
    , contributor
    Comments (309) | Send Message
    You suspiciously only discuss Wells Fargo negative commentary, and avoid an objective view by including JP Morgan's positive commentary. That is not all; you avoid updating this, as you claim you do throughout the day, with other positive comments published right on Yahoo Finance. I know from your deleting of many of my posts when they challenged what your authors say. So much for integrity.
    14 Jul, 02:49 PM Reply Like
  • ralph111
    , contributor
    Comments (126) | Send Message
    I remeber my great uncle telling me about tariffs back in his investing career leading up to the Smoot-Halley act -I hope this is not the beginning of a repeat of history
    25 Jul, 10:53 PM Reply Like
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