stock jumped 13.7% in premarket trade, a day after the company said it will beat analysts' earnings expectations for the third quarter because flat-rolled steel is in hot demand.
The company's shares were up $1.67 at $14.25 before the market opened. Shares closed at $12.58 Wednesday on the
The company said it could earn 60 cents a share, compared with the 44 cents a share predicted by analysts. Steel Dynamics, based in Fort Wayne, Ind., manufactures hot-rolled and cold-rolled steel products.
Separately, the company said it plans to defer a $175 million equity offering, citing market conditions.