Cramer explains why he'd wait before buying Nucor on weakness [CNBC]
Nucor Corporation (NUE)
Last nucor corporation earnings: 4/28 08:00 am
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Source: CNBC
“The weak quarter wasn't a surprise, but the discouraging guidance for the fourth quarter, that was a surprise, and makes it harder to get behind.” CNBC's Jim Cramer said it's not yet time to invest in Nucor , a steelmaker whose stock got hit on Tuesday after its earnings report Monday evening failed to impress Wall Street. “As much as I would've liked to tell you to dive into Nucor here … After last night's update, I'm little less sanguine,” he said. “The weak quarter wasn't a surprise, but the discouraging guidance for the fourth quarter, that was a surprise, and makes it harder to get behind.” Investors had been optimistic about the stock after the Federal Reserve implemented a hefty rate cut, as industrials tend to do well when rates are lower. Cramer said Nucor's quarter was disappointing, and by close shares were down more than 6%. He was most worried about guidance for the steelmaker's current quarter, with management citing issues like weakness in key markets like const
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NUE
Earnings
- 10/21/24 - Miss
NUE
Sec Filings
- 11/13/24 - Form 4
- 11/12/24 - Form 144
- 11/7/24 - Form 4
- NUE's page on the SEC website