AMTD Digital issues 'thank you note' to investors as shares trade around 23,650% above IPO price

Shares of Nucor Corp.
NUE,
-3.97%

sank 4.5 percent to a seven-week low in premarket trading on Wednesday after the steelmaker issued a third-quarter profit warning as weakness in its steelmaking business offset strength in steel products. The company expects earnings per share of $6.30 to $6.40, down from $7.28 in the prior period and below the FactSet EPS consensus of $7.56. “We expect steel mills segment earnings to be significantly lower in the third quarter of 2022 compared to the second quarter of 2022 due to metal margin contraction and reduced shipment volumes, particularly at our sheet mills and plates,” the company said in a statement. Nucor said it expects “strong” earnings from its steel products business and continues to believe 2022 will be the “most profitable year” in Nucor’s history. The stock jumped 19.7% in the past three months through Tuesday, while the SPDR Materials Select Sector ETF
XLB,
-3.57%

was down 2.4%, and the S&P 500
SPX,
-4.32%

has gained 5.3%.

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