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MarketWatch
Nucor stock falls after downbeat profit outlook
Shares of Nucor Corp. (NUE) fell 0.6% toward a 2 1/2-month low in premarket trading Thursday, after the steelmaker provided a first-quarter profit outlook that was below Wall Street projections. The company said its expects earnings per share for the current quarter to fall to $3.70 to $3.80 from $4.89 in the fourth quarter and from $7.67 in the same period a year ago. The company said it expects its profitability in its steel products segment to decrease from the fourth quarter because of reduced construction activity and some declines in pricing, while profitability is expected to increase in its steel mills and raw materials businesses.
