AK Steel Surges After Surprising Fourth-Quarter Earnings Outlook

Shares of AK Steel are surging after reporting a better-than-expected fourth-quarter earnings outlook on Wednesday. The steelmaker surprised Wall Street by predicting fourth-quarter earnings per share in the range of 2 cents to 6 cents when analysts had expected the company to predict a loss of 3 cents a share. AK Steel is attributing its higher expectations to rising shipments, stronger demand, as well as its recovery from a blast furnace outage that affected its facility in Middletown, Ohio.

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