United States Steel (NYSE:X) Stock, Quote.Headers.trade-ideas

United States Steel

United States Steel Corp operates primarily in the United States but also has a steelmaking capacity in Slovakia. The company's operating segments include North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment includes U. S. Steel's integrated steel plants and equity investees in North America involved in the production of slabs, strip mill plates, sheets, and tin mill products, as well as all iron ore and coke production facilities in the United States. It primarily serves North American customers in the service center, conversion, transportation, construction, container, and appliance, and electrical markets.

Jakarta,-,December,16,2023:,Nippon,Steel,Corporation,Logo,Signboard.,Nippon

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A key U.S. government panel has reached an impasse over Nippon Steel&#39;s $14.9 billion bid for United States Steel Corporation, shifting the final decision to President Joe Biden amid mounting national security concerns.

Joe Biden Faces Decisive Call On Nippon Steel&#39;s $14.9B Bid For US Steel Amid National Security Concerns

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US Steel Issues Weak Q4 Outlook, Joins Novo Nordisk And Other Big Stocks Moving Lower In Friday&#39;s Pre-Market Session

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United States Steel Corp. shares are trading lower in Thursday&#39;s after-hours session after the company issued fourth-quarter guidance below analyst estimates.

US Steel Stock Stumbles On Weak Q4 Outlook

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Reported Earlier, Nippon Steel Extends Estimated Time To Close US Steel Merger Agreement To Q1 Of Calendar Year 2025 From Previously Expected Q3 Or Q4 Of Calendar Year 2024

A key U.S. government panel has reached an impasse over Nippon Steel&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NPSCY#OTC">NPSCY</a>) $14.9 billion bid for United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), shifting the final decision to President Joe Biden amid <a href="https://www.benzinga.com/news/global/24/12/42502247/trumps-ex-secretary-of-state-mike-pompeo-backs-nippon-steels-149b-acquisition-of-us-steel-citing-national-security-concerns">mounting national security concerns</a>.
The Committee on Foreign Investment in the United States delivered its split decision on Monday, citing potential risks to domestic steel production, The Washington Post <a href="https://www.washingtonpost.com/business/2024/12/23/nippon-steel-us-steel-biden/">reported</a>, citing sources.
A White House spokesperson, as cited in the report, confirmed the referral and stated, "The President will review the evaluation."
While Nippon Steel offered to appoint U.S. citizens to top management positions as a remedy, the panel remained divided on the effectiveness of these measures.
The development adds complexity to a deal that has faced <a href="https://www.benzinga.com/markets/equities/24/09/40825269/biden-and-harris-push-to-block-14-1b-us-steel-acquisition-by-nippon-steel-faces-committee-delay-">opposition from Biden since March</a>. The President, who must decide within 15 days, has previously emphasized the importance of keeping U.S. Steel under American ownership.
The United Steelworkers union, led by President David McCall, has strongly opposed the acquisition. Meanwhile, Nippon Steel and U.S. Steel have warned of immediate legal challenges if the deal is blocked, claiming in a Dec. 17 letter that the review process has been influenced by political considerations.
Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>), which lost the bidding war for U.S. Steel, has also emerged as a key opponent of the Japanese acquisition.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Joe Biden Faces Decisive Call On Nippon Steel's $14.9B Bid For US Steel Amid National Security Concerns

Legal

Nippon Steel, U.S. Steel Allege White House Has Had 'Impermissible Influence' Over CFIUS Review Of Proposed Tie-Up-Letter; White House Denies Allegations Of Undue Influence; Nippon Steel, U.S. Steel Vow To Challenge An Expected Block Of The Deal In U.S. Court As A Violation Of Due Process And Authority Of The President Under CFIUS Rules-Letter

WIIM

United States Steel shares are trading lower after the company issued Q4 adjusted EPS guidance below analyst estimates.

BMO Capital analyst Katja Jancic maintains United States Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) with a Outperform and lowers the price target from $43 to $40.

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BMO Capital Maintains Outperform on United States Steel, Lowers Price Target to $40

U.S. stock futures were lower this morning, with the Dow futures falling over 100 points on Friday.
Shares of United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) fell sharply in today's pre-market trading after the company issued fourth-quarter adjusted EPS guidance <a href="https://www.benzinga.com/news/guidance/24/12/42606023/us-steel-stock-stumbles-on-weak-q4-outlook">below analyst estimates</a>.
After the market close on Thursday, U.S. Steel said it expects to report a fourth-quarter adjusted loss of 25 cents to 29 cents per share. Fourth-quarter adjusted EBITDA is expected to come in around $150 million.
U.S. Steel shares dipped 6.5% to $29.65 in the pre-market trading session.
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US Steel Issues Weak Q4 Outlook, Joins Novo Nordisk And Other Big Stocks Moving Lower In Friday's Pre-Market Session

United States Steel Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) shares are trading lower in Thursday&#8217;s after-hours session after the company issued fourth-quarter guidance <a href="https://www.benzinga.com/pressreleases/24/12/b42604235/united-states-steel-corporation-provides-fourth-quarter-2024-guidance">below analyst estimates</a>.
What Happened: After the market close on Thursday, U.S. Steel said it expects to report a fourth-quarter adjusted loss of 25 cents to 29 cents per share. Fourth-quarter adjusted EBITDA is expected to come in around $150 million.
&#8220;Steel prices remained depressed and BR2 ramp-related costs exert pressure on the quarter, while the Big River team works towards increasing prime ton production in our new mill. Despite the challenging pricing environment across all segments, the North American Flat-Rolled segment continues to deliver strong EBITDA primarily through its robust commercial strategy and a diverse product mix,&#8221; said David Burritt, CEO of U.S. Steel.
Q4 Adjusted EBITDA By Segment:
<ul>
<li>The Flat-Rolled segment&#8217;s adjusted EBITDA is expected to be lower than the&nbsp;third quarter&nbsp;due to lower selling prices and volumes.</li>
<li>The Mini Mill segment&#8217;s adjusted EBITDA is expected to be lower than the&nbsp;third quarter&nbsp;due to lower volumes.</li>
<li>The European segment&#8217;s adjusted EBITDA is expected to be lower than the&nbsp;third quarter, largely due to the unfavorable impact of weak demand, resulting in lower volumes, average selling prices and volume inefficiencies.</li>
<li>The Tubular segment&#8217;s adjusted EBITDA is expected to be higher than the&nbsp;third quarter, primarily due to increased volume and lower costs due to the absence of outage activity.</li>
</ul>
&#8220;In Europe, the demand and pricing environment remains weak. To meet production volume requirements after unplanned downtime from a fire at the #1 Caster, we are temporarily operating three blast furnaces beginning Dec. 7, but expect to return to two blast furnaces by January. The Tubular segment continues to face pressure from a weak pricing environment,&#8221; Burritt added.
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/12/42605034/fedex-stock-rallies-on-better-than-expected-q2-eps-freight-spin-off-announcement">FedEx Stock Rallies On Better-Than-Expected Q2 EPS, Freight Spin-Off Announcement</a>
U.S. Steel is due to report fourth-quarter financial results near the end of January. Analysts currently expect the company to report fourth-quarter revenue of $3.69 billion. Fourth-quarter earnings were projected around 16 cents per share before Thursday&#8217;s guidance update.
X Price Action: U.S. Steel shares were down 4.54% in Thursday&#8217;s after-hours session, trading at $30.28 at the time of publication, per <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Courtesy U.S. Steel

"Adjusted EBITDA guidance of $150 million is below our prior fourth quarter outlook. Steel prices remained depressed and BR2 ramp-related costs exert pressure on the quarter, while the Big River team works towards increasing prime ton production in our new mill," the company said.

United States Steel Expects Q4 Adjusted EPS Of ($0.29) - ($0.25), Est $0.16; Adjusted EBITDA To Be Approximately $150M

Investors with a lot of money to spend have taken a bullish stance on United States Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with X, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 8 uncommon options trades for United States Steel.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $162,581, and 4 are calls, for a total amount of $183,550.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $34.0 to $45.0 for United States Steel during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for United States Steel's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across United States Steel's significant trades, within a strike price range of $34.0 to $45.0, over the past month.
<h3>United States Steel Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734628619_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>X</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$1.58</td>
<td>$1.5</td>
<td>$1.5</td>
<td>$40.00</td>
<td>$68.8K</td>
<td>32.4K</td>
<td>500</td>
</tr>
<tr>
<td>X</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$5.85</td>
<td>$5.3</td>
<td>$5.6</td>
<td>$35.00</td>
<td>$56.0K</td>
<td>76.9K</td>
<td>344</td>
</tr>
<tr>
<td>X</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$0.8</td>
<td>$0.68</td>
<td>$0.68</td>
<td>$34.00</td>
<td>$47.1K</td>
<td>2.4K</td>
<td>1.0K</td>
</tr>
<tr>
<td>X</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$5.5</td>
<td>$5.25</td>
<td>$5.5</td>
<td>$35.00</td>
<td>$42.9K</td>
<td>76.9K</td>
<td>197</td>
</tr>
<tr>
<td>X</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$0.99</td>
<td>$0.95</td>
<td>$0.99</td>
<td>$45.00</td>
<td>$41.9K</td>
<td>91.8K</td>
<td>4.7K</td>
</tr>
</tbody>
</table>

<h3>About United States Steel</h3>
United States Steel Corp operates primarily in the United States but also has a steelmaking capacity in Slovakia. The company's operating segments include North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment includes U. S. Steel's integrated steel plants and equity investees in North America involved in the production of slabs, strip mill plates, sheets, and tin mill products, as well as all iron ore and coke production facilities in the United States. It primarily serves North American customers in the service center, conversion, transportation, construction, container, and appliance, and electrical markets.
Having examined the options trading patterns of United States Steel, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>United States Steel's Current Market Status</h3>
<ul>
<li>Trading volume stands at 2,437,282, with X's price up by 0.87%, positioned at $31.25.</li>
<li>RSI indicators show the stock to be may be oversold.</li>
<li>Earnings announcement expected in 42 days.</li>
</ul>
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Options

United States Steel Options Trading: A Deep Dive into Market Sentiment

<a href="https://www.reuters.com/markets/commodities/despite-revamped-proposals-nippon-steel-deal-track-be-blocked-letter-says-2024-12-18/">https://www.reuters.com/markets/commodities/despite-revamped-proposals-nippon-steel-deal-track-be-blocked-letter-says-2024-12-18/</a>
&nbsp;
Despite a steady stream of meetings and calls with U.S. officials, and three revamped proposals to assuage national security concerns, Nippon Steel <a href="https://www.reuters.com/markets/companies/5401.T">(5401.T), opens new tab</a> has failed to garner approval from a powerful panel reviewing its $14.9 billion bid for U.S. Steel <a href="https://www.reuters.com/markets/companies/X.N">(X.N), opens new tab</a>, a letter seen by Reuters shows.
The letter, sent Saturday, sets the stage for U.S. President Joe Biden, who has long opposed the deal, to block it. The Committee on Foreign Investment in the United States (CFIUS), which reviews deals for <a href="https://www.reuters.com/markets/deals/us-worries-about-steel-supply-infrastructure-after-nippon-us-steel-deal-2024-09-05/">national security risks</a>, has a Dec. 23 deadline to approve the deal, extend the review, or recommend Biden scuttle it.
If the agencies that make up the panel remain at loggerheads, as the letter states, they will refer the matter to Biden to take action.
The history of outreach since early September, including four in-person meetings with CFIUS, three phone calls, including one on Friday with the Treasury and Commerce department secretaries, as well as the three proposed mitigation agreements is contained in a letter dated Saturday sent to Nippon Steel by CFIUS that has not been previously reported.
It shows the <a href="https://www.reuters.com/markets/commodities/nippon-steel-rebuts-cfiuss-case-against-its-bid-us-steel-letter-2024-09-09/">lengths the companies have gone to</a> try to win approval on the controversial merger, even as the letter signals the deal is likely doomed.
"The Committee has not yet reached consensus on whether the mitigation measures proposed by the Parties would be effective... or whether they would resolve the risk to U.S. national security arising from the Transaction," CFIUS writes in closing.
"The President may take such action for such time as the President considers appropriate to suspend or prohibit a covered transaction that threatens to impair the national security," it adds.
The White House, Nippon Steel, and the Commerce Department, which is co-leading the review of the deal at CFIUS, did not immediately respond to requests for comment. Treasury, which leads CFIUS, declined to comment. U.S. Steel said in a statement that Nippon Steel provides, "by far, the brightest future for U.S. Steel," adding that no other party can make the billions in investments Nippon Steel has promised to make.
&nbsp;
"U.S. Steel will not-- and does not have the resources-- to do this on our own," it added.
<h2>HIGH-LEVEL OPPOSITION</h2>
The proposed tie-up has faced high-level opposition within the U.S. since it was announced a year ago, with both Biden and his incoming successor <a href="https://www.reuters.com/world/us/donald-trump/">Donald Trump</a> taking aim at it as they sought to woo union voters in the swing state of Pennsylvania, where U.S. Steel is headquartered. The president of the United Steelworkers Union, opposes the tie-up.
The merger appeared fast-tracked to be blocked after the companies received an Aug. 31 letter from CFIUS, seen by Reuters, arguing the deal could hurt the supply of steel needed for critical transportation, construction and agriculture projects.
But Nippon Steel, countering that its investments, made by a company from an allied nation, would in fact shore up U.S. Steel's output, won a 90-day review extension. That gave CFIUS until after the November election to make a decision, fueling hope among supporters that the calmer political climate could win the deal's approval.
But CFIUS's 29-page letter Saturday, first referenced by the Financial Times and later seen by Reuters, shows the hopes were likely unfounded.

"Despite Revamped Proposals, Nippon Steel Deal On Track To Be Blocked, Letter Says" - Reuters News

President-elect Donald Trump&#8216;s Former U.S. Secretary of State Mike Pompeo has thrown his support behind Nippon Steel Corp.&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NPSCY#OTC">NPSCY</a>) &nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/NISTF#OTC">NISTF</a>)&nbsp;proposed $14.9 billion acquisition of United States Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), arguing the deal would strengthen America&#8217;s position <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42295766/u-s-steel-stock-falls-as-trump-pledges-to-block-nippon-steel-acquisition">against Chinese market dominance</a>.
What Happened: In an opinion piece published in The Wall Street Journal <a href="https://www.wsj.com/opinion/america-must-approve-the-nippon-steel-deal-national-security-china-900b2b5c?mod=hp_opin_pos_6#cxrecs_s">on</a> Friday, Pompeo, who now serves as a strategic adviser to Nippon Steel, emphasized that the transaction would enhance U.S. national and economic security while protecting American jobs.
The deal faces significant opposition from both President Joe Biden and Trump. According to Bloomberg sources, Biden is expected to block the acquisition on national security grounds when the Committee on Foreign Investment in the United States refers its <a href="https://www.benzinga.com/news/global/24/12/42425695/biden-set-to-block-us-steel-sale-to-nippon-steel-report">decision later this month</a>.
Pompeo countered these concerns, stating that blocking the deal would &#8220;undermine America&#8217;s national security by diminishing our ability to maintain robust and competitive domestic steel production.&#8221; He highlighted Nippon Steel&#8217;s commitment to invest $2.7 billion in union-represented local steel facilities.
U.S. Steel spokesperson Amanda Malkowski has previously <a href="https://www.benzinga.com/news/global/24/12/42425695/biden-set-to-block-us-steel-sale-to-nippon-steel-report">defended the transaction</a>, stating that &#8220;this transaction should be approved on its merits.&#8221; Nippon Steel expressed confidence in the American legal system, indicating it would pursue legal action if necessary.
See Also: <a href="https://www.benzinga.com/tech/24/12/42501918/teslas-texas-lithium-plant-begins-operations-amid-market-oversupply">Tesla&#8217;s Texas Lithium Plant Begins Operations Amid Market Oversupply</a>
Why It Matters: The Japanese steelmaker&#8217;s proposed acquisition comes amid growing concerns about China&#8217;s steel overproduction and its <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42295766/u-s-steel-stock-falls-as-trump-pledges-to-block-nippon-steel-acquisition">impact on global markets</a>. 
Biden has until Dec. 22 or 23 to receive CFIUS&#8217;s referral and must announce his decision within 7 days. U.S. Steel shares have experienced volatility as investors react to developments <a href="https://www.benzinga.com/news/global/24/12/42425695/biden-set-to-block-us-steel-sale-to-nippon-steel-report">surrounding the proposed acquisition</a>.
In November after his election victory, Trump made a declaration in a&nbsp;<a href="https://truthsocial.com/@realDonaldTrump/posts/113455540757405917" target="_blank" rel="noreferrer noopener">post</a>&nbsp;on Truth Social, stating, "I will not be inviting former Ambassador Nikki Haley, or former Secretary of State Mike Pompeo, to join the Trump Administration, which is currently in formation."
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Photo courtesy: Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Global

NISTF

Trump's Ex-Secretary Of State Mike Pompeo Backs Nippon Steel's $14.9B Acquisition Of US Steel Citing National Security Concerns

United States Steel's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) short percent of float has risen 3.58% since its last report. The company recently reported that it has 18.08 million shares sold short, which is 8.11% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.42 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>United States Steel Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734022819_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for United States Steel has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing United States Steel's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, United States Steel's peer group average for short interest as a percentage of float is 4.39%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

Looking Into United States Steel's Recent Short Interest

In the current session, United States Steel Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) is trading at $33.88, after a 3.00% decrease. Over the past month, the stock decreased by 6.86%, and in the past year, by 13.85%. With performance like this, long-term shareholders are more likely to start looking into the company's price-to-earnings ratio. 

<img src="https://www.benzinga.com/files/images/story/2024/1734019292_0.png" alt="Past Year Chart" />

<h3>Comparing United States Steel P/E Against Its Peers</h3>
The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&amp;P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. 
Compared to the aggregate P/E ratio of 20.65 in the Metals &amp; Mining industry, United States Steel Inc. has a higher P/E ratio of 22.11. Shareholders might be inclined to think that United States Steel Inc. might perform better than its industry group. It's also possible that the stock is overvalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1734019292_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

Intraday Update

Price Over Earnings Overview: United States Steel

Nippon Steel Has Committed to $5,000 Bonuses for U. S. Steel Employees
Advocating for Transaction to be Approved on its Merits
Employees of United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) ("U. S. Steel") today will host a rally at the U. S. Steel Mon Valley Works Clairton Plant in support of the Nippon Steel transaction. Represented and non-represented employees, along with community members and local elected officials, will gather to reinforce their support for the transaction. They will again call on officials across the nation to recognize the significant benefits this transaction holds for employees and other stakeholders and to advocate for regulatory reviews to be focused on the merits of the deal. Earlier this week, Nippon Steel announced that all eligible USW-represented U. S. Steel employees and eligible non-represented employees will receive a $5,000 bonus within 30 days of deal closing. Altogether, the Closing Bonus will result in a nearly $100 million aggregate payment to qualifying employees. &#x2A;

Management

U. S. Steel Employees To Host Rally In Support Of Nippon Steel Transaction, Advocating For Transaction To Be Approved On Its Merits

The stock market experienced a downturn on Monday as the S&amp;P 500 and Nasdaq Composite indices fell from their recent record highs. The S&amp;P 500 decreased by 0.3% and the Nasdaq Composite dipped by 0.25%. Despite these setbacks, both indices had recorded gains over the previous three weeks. Meanwhile, the Dow Jones also closed lower, shedding over 150 points.
These are the top stocks that gained the attention of retail traders and investors throughout the day.
GameStop Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>)
GameStop shares declined by 3.65%, closing at $26.93. The stock reached an intraday high of $28.39 and a low of $26.85, with a 52-week range between $64.83 and $9.95. The video game retailer reported <a href="https://www.benzinga.com/general/gaming/24/12/42425015/gamestop-q3-earnings-revenue-miss-4b-cash-no-more-offerings-planned-in-fiscal-year">third-quarter net sales</a> of $860.3 million, falling short of last year&#8217;s $1.08 billion and missing the Street consensus estimate of $887.7 million.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42380768/quantum-computing-stocks-roundup-d-wave-rigetti-ionq-lead-the-charge-with-explosive-growth?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Quantum Computing Stocks Roundup: D-Wave, Rigetti, IonQ Lead the Charge With Explosive Growth</a>
United States Steel Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>)
United States Steel saw its stock plummet by 9.68%, closing at $35.26. The day&#8217;s trading saw a high of $39.05 and a low of $30.55, with a 52-week range of $50.20 to $26.92. The drop followed reports that President Joe Biden plans to <a href="https://www.benzinga.com/24/12/42425695/biden-set-to-block-sale-of-us-steel-to-nippon-steel-reportsitesi">block the company&#8217;s sale</a> to Nippon Steel due to national security concerns. 
Walgreens Boots Alliance Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>)
Walgreens shares surged by 17.74%, closing at $10.42. The stock hit an intraday high of $11.30 and a low of $8.54, with a 52-week range from $27.05 to $8.08. The increase came after reports of <a href="https://www.benzinga.com/24/12/42421855/walgreens-stock-jumps-on-report-of-potential-private-equity-sale-what-you-need-to-know">potential acquisition talks</a> with Sycamore Partners, which could take the company private.
Rigetti Computing Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>)
Rigetti Computing&#8217;s stock soared by 45.19%, closing at $6.49. The stock&#8217;s intraday high was $6.89, with a low of $4.28, and a 52-week range of $6.89 to $0.66. The company made headlines with its AI-powered <a href="https://www.benzinga.com/24/12/42417674/why-is-rigetti-computing-stock-gaining-on-tuesday">calibration breakthrough</a> in quantum computing, significantly enhancing its capabilities.
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares rose by 2.87%, closing at $400.99. The stock reached an intraday high of $409.73 and a low of $390.85, with a 52-week range from $409.73 to $138.8. Tesla saw strong sales in China, marking its <a href="https://www.benzinga.com/tech/24/12/42409492/teslas-2nd-best-week-in-china-in-2024-boosts-q4-prospects">second-best week in 2024</a>. Tesla&#8217;s insurance registrations in China reached 21,900 units for the week ending December 8, its second-best week of 2024, while BYD led with 85,000.
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
Read Next: 
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<li><a href="https://www.benzinga.com/news/global/24/12/42406893/bill-gates-could-go-bankrupt-if-tesla-stock-surges-200-to-become-the-top-company-says-elon-musk?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bill Gates Could Go Bankrupt If Tesla Stock Surges 200% To Become The Top Company, Says Elon Musk</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

RGTI

TSLA

UNFI

Gamestop, US Steel, Walgreens, Rigetti Computing, Tesla: Why These 5 Stocks Are On Investors' Radars Today

United States Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) shares plunged Tuesday following a <a href="https://www.bloomberg.com/news/articles/2024-12-10/biden-set-to-finally-kill-nippon-steel-s-proposed-takeover-of-us-steel">report</a> that President Joe Biden will block the company's proposed <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42295766/u-s-steel-stock-falls-as-trump-pledges-to-block-nippon-steel-acquisition">deal with Nippon Steel</a>. 
The Details: People familiar with the matter told Bloomberg that Biden views the sale as a national security risk. 
The Committee on Foreign Investment in the United States (CFIUS) is expected to send the case back to Biden later this month. 
Read Next: <a href="https://www.benzinga.com/24/12/42370672/sofi-makes-spacex-accessible-for-retail-investors">SoFi Unlocks SpaceX Exposure For Retail Investors: Here&#8217;s How</a>
The CFIUS panel has been reviewing the<a href="https://www.benzinga.com/m-a/24/11/41806893/nippon-steel-remains-confident-in-14b-us-steel-deal-despite-trumps-resistance-there-can-be-construct"> proposed sale</a> of US Steel for much of 2024. It must refer its decision to Biden by Dec. 22 or 23. US Steel and Nippon Steel are preparing to pursue litigation if Biden does block the merger, the sources say.
"This transaction should be approved on its merits," US Steel spokeswoman Amanda Malkowski told Bloomberg.&nbsp;
"It is inappropriate that politics continue to outweigh true national security interests — especially with the indispensable alliance between the U.S. and Japan as the important foundation," Nippon Steel said in a statement.
"Nippon Steel still has confidence in the justice and fairness of America and its legal system, and — if necessary — will work with U.S. Steel to consider and take all available measures to reach a fair conclusion," the company added.&nbsp;
The CFIUS, which extended the process in September, moved the deadline for referral to December. The sources told Bloomberg that another extension is unlikely, though that would push the decision to President-elect Donald Trump. 
Both Biden and Trump, along<a href="https://www.benzinga.com/markets/24/11/42056111/nippon-steel-execs-rally-support-in-pennsylvania-amid-pushback-on-us-steel-takeover"> with the</a> United Steelworkers union, have expressed opposition to the merger.&nbsp;
The timing of an official announcement from Biden remains unclear. He will have 15 days from the date of the referral to announce a decision. 
X Price Action: According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, United States Steel shares ended Tuesday&#8217;s session down 9.68% at $35.26. 
Read More: 
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<li><a href="https://www.benzinga.com/etfs/new-etfs/24/12/42270723/new-conservative-etf-aims-to-invest-in-sp-500-without-dei-were-going-to-deliver-that-mandate">New Conservative ETF Aims To Invest In S&amp;P 500 Without DEI: &#8216;We&#8217;re Going To Deliver That Mandate&#8217;</a></li>
</ul>
Image: Shutterstock

Politics

Biden Set To Block US Steel Sale To Nippon Steel: Report

United States Steel Corp Shares Resume Trade

<a href="https://www.bloomberg.com/news/articles/2024-12-10/biden-set-to-finally-kill-nippon-steel-s-proposed-takeover-of-us-steel" title="https://www.bloomberg.com/news/articles/2024-12-10/biden-set-to-finally-kill-nippon-steel-s-proposed-takeover-of-us-steel">https://www.bloomberg.com/news/articles/2024-12-10/biden-set-to-finally-kill-nippon-steel-s-proposed-takeover-of-us-steel</a>

General

'Biden Set To Finally Kill Nippon Steel Purchase Of U.S. Steel; CFIUS Panel Is Set To Refer Decision To Biden Later This Month; Both Companies Likely To Pursue Litigation If Deal Is Blocked' - Bloomberg News

United States Steel shares are trading lower amid circulation of reports suggesting Biden is set to stop Nippon Steel's proposed purchase of the company.

Nippon Steel ($JP:5401) is accusing the White House of interfering in a national security review of its $14.9 billion bid for U.S. Steel ($X) and i...

Nippon Steel Threatens Legal Action If U.S. Steel (NYSE:X) Deal Gets Blocked

Biden to decide on US Steel takeover after CFIUS deadlocks

Biggest stock movers Tuesday: X, CYTK, and more

Nippon Steel (NPSCY) confirms it was notified by the Committee on Foreign Investment in the United States that the panel failed to reach a consensu...

Nippon Steel confirms CFIUS referred U.S. Steel decision to President Biden

Wall Street Breakfast Podcast: Biden To Rule On US Steel Takeover

United States Steel: Recovery Might Be Around The Corner

Nippon Steel's ($NPSCY) proposed $15 billion bid for U.S. Steel ($X) has reached a critical juncture. According to Reuters, the Committee on Foreig...

M&A News: Biden Holds the Key to Nippon Steel's $15B Takeover of U.S. Steel

Biggest stock movers Tuesday: X, INSW, CYTK, and more

Nippon Steel (NPSCY) issued the following statement regarding the timely disclosure titled "Acquisition of United States Steel Corporation" dated a...

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