NUE

Nucor Corporation NUE is slated to come up with third-quarter 2026 results after the closing bell on Oct. 26. The steel giant surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed once. It has a trailing four-quarter earnings surprise of roughly 9.8%, on average. NUE is expected to have benefited from favorable steel prices and higher earnings across its Steel Mills and Steel Products segments in the third quarter. NUE's shares have jumped 86.1% in the past year, outperforming the Zacks Steel Producers industry's 58.6% rise. Image Source: Zacks Investment Research Let's see how things are shaping up for this announcement. The Zacks Consensus Estimate for NUE's third-quarter consolidated sales is currently pegged at $10,531.4 million, calling for an increase of 23.6% from the year-ago quarter's tally. Higher earnings across Steel Mills and Steel Products units are likely to have aided NUE's performance in the third quarter. Nucor is expected to have benefited from higher average selling prices. Nucor, last month, said that it expects improved sequential results in the September quarter driven by higher Steel Mills and Steel Products earnings, partly offset by weaker performance in the Raw Materials unit due to lower pricing and shipments. The Steel Mills segment is expected to have benefited from higher average selling prices and stable volumes. Higher volumes and pricing are likely to have supported the Steel Products segment. Meanwhile, U.S. steel prices are rising on major steel mills' price increases, extending lead times and tightening supply, partly due to plant outages and reduced imports driven by tariffs. The upswing has led to benchmark hot-rolled coil ("HRC") prices surging to above $1,300 per short ton. Rallying HRC prices have created a favorable landscape for American steel producers. Higher selling prices are expected to have supported Nucor's performance in the quarter to be reported. Our estimate for third-quarter average sales price per ton for the company's steel mills unit stands at $1,157, indicating an 11.5% year-over-year increase. Nucor Corporation price-eps-surprise | Nucor Corporation Quote Our proven model does not conclusively predict an earnings beat for Nucor this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that's not the case here. Earnings ESP: Earnings ESP for NUE is 0.00%. The Most Accurate Estimate and the Zacks Consensus Estimate are both pegged at $5.71. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter. Zacks Rank: NUE currently sports a Zacks Rank #1. Here are some companies in the basic materials space you may want to consider, as our model shows they have the right combination of elements to post an earnings beat this quarter: Freeport-McMoRan Inc. FCX, scheduled to release earnings on Oct. 27, has an Earnings ESP of +0.12% and carries a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank stocks here. The consensus estimate for FCX's earnings for the third quarter is currently pegged at 78 cents. DuPont de Nemours, Inc. DD, scheduled to release earnings on Nov. 3, has an Earnings ESP of +1.35%. The Zacks Consensus Estimate for DD's earnings for the third quarter is currently pegged at $1.86. DD currently carries a Zacks Rank #3. Huntsman Corporation HUN, slated to release earnings on Nov. 2, has an Earnings ESP of +49.86% and carries a Zacks Rank #3 at present. The consensus mark for HUN's third-quarter earnings is currently pegged at 7 cents. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nucor Corporation (NUE) : Free Stock Analysis Report Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report DuPont de Nemours, Inc. (DD) : Free Stock Analysis Report Huntsman Corporation (HUN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Nucor (NYSE:NUE) is scheduled to report its earnings on Monday, October 26, 2026. The company has a market value of about $58.9 billion. Over the last twelve months it generated $36.1 billion in revenue and $4.2 billion in operating profit, with net income of $2.9 billion. The reaction will turn on how the results and guidance land against expectations. Before the release, it helps to know how the stock has behaved after previous reports, and whether an early move has tended to carry on. See the earnings reaction history of all stocks Nucor's Historical Odds Of A Positive Post-Earnings Return Some observations on one-day (1D) post-earnings returns, measured from the last close before each release: - There are 19 earnings releases in the last five years, with 14 positive and 5 negative one-day (1D) returns. Positive 1D returns were seen 74% of the time. - Over the last three years that share falls to 55%, across 11 releases. - The median of the 14 positive 1D returns is 4.7%, and the median of the 5 negative ones is -2.7%. - The largest one-day reactions were 9.1% and -8.9%. The table below shows the 1D, 5-day (5D) and 21-day (21D) returns after each release, followed by summary statistics. Earnings Date | 1D | 5D | 21D 7/27/2026 | 7.2% | 5.4% | -0.1% 4/27/2026 | 4.7% | 5.0% | 14.6% 1/26/2026 | -2.3% | 1.9% | -1.2% 10/27/2025 | 5.4% | 2.7% | 8.4% 7/28/2025 | -2.7% | -5.2% | 2.4% 4/28/2025 | 1.9% | 3.4% | -6.6% 1/27/2025 | 3.8% | 7.6% | 10.3% 10/21/2024 | -6.5% | -5.4% | -7.3% 7/22/2024 | -1.1% | -2.4% | -12.2% 4/22/2024 | -8.9% | -8.6% | -10.2% 1/29/2024 | 6.9% | 3.2% | 8.8% 10/23/2023 | 4.8% | 6.0% | 12.3% 7/24/2023 | 3.7% | 3.3% | 1.1% 4/20/2023 | 5.5% | -2.1% | -5.0% 1/26/2023 | 8.4% | 11.7% | 3.7% 10/20/2022 | 2.5% | 12.4% | 16.6% 7/21/2022 | 9.1% | 8.1% | 21.1% 4/21/2022 | 3.7% | -6.1% | -28.7% 1/27/2022 | 4.0% | 20.4% | 39.8% Statistic | 1D | 5D | 21D # Positive | 14 | 13 | 11 # Negative | 5 | 6 | 8 Median Positive | 4.7% | 5.4% | 10.3% Median Negative | -2.7% | -5.3% | -7.0% Max Positive | 9.1% | 20.4% | 39.8% Max Negative | -8.9% | -8.6% | -28.7% Does The First Move Carry On? Another approach is to wait for the initial reaction and ask whether it tends to continue. The table below shows the correlation between the 1D return and the return over the following 5 and 21 trading days, and between the 5D return and the following 21 trading days. A value near 1 means the first move has tended to continue; near -1, to reverse; near 0, no consistent pattern. The strongest relationship over five years is between the 5D and the following 21 days, at 0.67 across 19 releases: the early move has tended to continue in the same direction. That is a tendency, not a rule, and it can break on any given report. History | 1D vs next 5D | 1D vs next 21D | 5D vs next 21D 5 Years | 0.06 | 0.05 | 0.67 3 Years | 0.01 | 0.15 | 0.23 Is There Any Correlation With Peer Earnings? Steel Dynamics (STLD) usually reports a few days before Nucor, and reported this season on October 20, 2026; its stock fell 0.3% the next day. The table compares Steel Dynamics' one-day reaction to its own earnings with Nucor's one-day reaction to the report that followed. It covers the 12 quarters in which Steel Dynamics reported shortly before Nucor. The correlation is -0.04, close to zero: Steel Dynamics' reaction has told you little about how Nucor's stock would react. NUE Earnings Date | NUE 1D | STLD 1D 7/27/2026 | 7.2% | 1.3% 4/27/2026 | 4.7% | 3.3% 10/27/2025 | 5.4% | 5.2% 7/28/2025 | -2.7% | -1.7% 4/28/2025 | 1.9% | 4.0% 1/27/2025 | 3.8% | -0.4% 10/21/2024 | -6.5% | 4.0% 7/22/2024 | -1.1% | -0.7% 1/29/2024 | 6.9% | -0.5% 10/23/2023 | 4.8% | -0.3% 7/24/2023 | 3.7% | -3.0% 1/27/2022 | 4.0% | 2.3% Correlation | - | -0.04 Trading around earnings is a bet on a single event. If you want upside with a smoother ride than an individual stock such as NUE can offer, consider the Trefis High Quality (HQ) Portfolio: about 30 stocks selected for consistent cash generation, strong margins and resilient balance sheets, with a track record of outperforming a benchmark that combines the S&P 500, the S&P MidCap 400, and the Russell 2000.

Algoma Steel Group Inc. (ASTL) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 28. On the other hand, if they miss, the stock may move lower. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. This company is expected to post quarterly loss of $0.56 per share in its upcoming report, which represents a year-over-year change of -566.7%. Revenues are expected to be $173.15 million, down 54.5% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 25% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Legato Merger, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%. On the other hand, the stock currently carries a Zacks Rank of #4. So, this combination makes it difficult to conclusively predict that Legato Merger will beat the consensus EPS estimate. Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Legato Merger would post a loss of$0.51 per share when it actually produced a loss of -$0.64, delivering a surprise of -25.49%. Over the last four quarters, the company has beaten consensus EPS estimates just once. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Legato Merger doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Another stock from the Zacks Steel - Producers industry, Nucor (NUE), is soon expected to post earnings of $5.71 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of +117.1%. Revenues for the quarter are expected to be $10.53 billion, up 23.6% from the year-ago quarter. Over the last 30 days, the consensus EPS estimate for Nucor has been revised 9.1% up to the current level. Nevertheless, the company now has an Earnings ESP of 0.00%, reflecting an equal Most Accurate Estimate. This Earnings ESP, combined with its Zacks Rank #1 (Strong Buy), makes it difficult to conclusively predict that Nucor will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Algoma Steel Group Inc. (ASTL) : Free Stock Analysis Report Nucor Corporation (NUE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

- Cleveland-Cliffs fell 7% on profit taking after Q3 EBITDA of $612M beat its own $575M guidance and 2027 projections topped $4 billion. - Nucor dipped just 1% and SLX fell under 1% while SPY edged higher, confirming the selloff is concentrated in Cleveland-Cliffs shares. - Building a portfolio and living off one are two completely different skills, and almost nobody teaches the second. This problem is what The Definitive Guide to Retirement Income helps, and it is free today. Read more here. (Sponsor) Shares of Cleveland-Cliffs (NYSE:CLF) are giving back part of the rally that followed the steelmaker's strongest quarter in three years. Cleveland-Cliffs stock has dropped 6% to $13.31 as morning trading unfolds, falling far harder than the rest of the steel group. Meanwhile, Critical Metals (NASDAQ:CRML) stock is down 2% to $6.37, a slide that trails the drop in Cleveland-Cliffs shares. At the same time, Nucor (NYSE:NUE) stock practically unchanged at $260.58. Cleveland-Cliffs reported Q3 2026 adjusted earnings per share (EPS) of $0.28 on Monday, exceeding the $0.24 consensus estimate. The company's revenue reached $5.61 billion, slightly missing expectations of $5.72 billion. Higher prices did the heavy lifting for Cleveland-Cliffs. Its average net selling price rose to $1,177 per ton from $1,124 in Q2 2026, pushing adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) past the company's own guidance. CEO Lourenco Goncalves summed up the period. He stated, "Third quarter was our strongest quarter in three years, with adjusted EBITDA of $612 million, a number above the $575 million guidance we provided three months ago." Looking ahead, Cleveland-Cliffs expects Q4 2026 adjusted EBITDA of $715 million and projects the 2027 figure above $4 billion, citing newly signed customer contracts. Executives expect Q4 to top Q3 even with typical seasonal slowdowns and planned maintenance outages, and that outlook triggered a sharp rally in Cleveland-Cliffs stock on Monday, while the decline now under way reads as profit taking after that run. ------ Many successful investors eventually reach the same moment. The saving is done, the portfolio is built, and the question quietly changes from how much can I grow this to how much can I take out? Get that second question wrong and decades of good investing can come apart in a handful of years. That is exactly what The Definitive Guide to Retirement Income helps answer. It covers what your retirement could actually cost, which income sources are worth using, and the withdrawal math that decides whether the money lasts. It is free today from Fisher Investments. Read More Here › ------ One soft spot sits in Canada, where Cleveland-Cliffs plans to indefinitely idle the galvanizing lines at its Stelco unit amid an oversupplied market. Management stated that an improving Canadian hot-rolled market turned Stelco into a positive EBITDA contributor in Q3, which keeps the setback contained to one product line. On the earnings call, Cleveland-Cliffs management described its 2027 contract renewals as the most important positive development since the previous update, with those deals covering most light flat-rolled steel use outside automotive. More than half of the contracts were signed as of the call, and 55% to 60% of clients had already agreed to take-or-pay terms. Customers are focused more on securing volume than on price, management stated. Trade policy supports that pitch for Cleveland-Cliffs, with executives maintaining that imports remain 35% to 40% below levels seen before the 50% Section 232 steel tariffs. Cleveland-Cliffs also ruled out a share sale, with management declaring, "We are not going to issue stock. We don't need to." The VanEck Steel ETF (NYSEARCA:SLX) is basically unchanged at $103.21, so sector-level concerns don't explain the decline in Cleveland-Cliffs shares today. Meanwhile, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.66% to $771.54, which shows the broad market heading higher. The SLX ETF also holds big global miners and foreign steelmakers, so its flat performance reflects a far wider basket. Cleveland-Cliffs runs an integrated steel operation that also includes Stelco, while Nucor focuses on domestic production. Nucor stock's modest dip and the small decline in SLX point to selling concentrated in Cleveland-Cliffs shares, a pattern consistent with profit taking after a big run. Cleveland-Cliffs now faces the question of whether Q4 adjusted EBITDA lands where the company forecast. Management at Cleveland-Cliffs expects its newly signed customer contracts to lift profit sharply in 2027, giving the bull case a clear benchmark. Heavy borrowing supports the bear case for Cleveland-Cliffs, which is targeting leverage under 2.5x net debt to EBITDA by mid-2027. Traders may prefer to keep their exposure smaller until the post-earnings swing in Cleveland-Cliffs stock resolves. (Sponsor) Most people spend their entire working lives focusing on one thing: growing a pile of money. Then they retire and discover the skill they actually need is close to the opposite. Turning that pile into steady income, year after year, through good markets and bad, without ever running out. It may be the least discussed and most consequential transition in personal finance, and plenty of otherwise careful investors walk into it with no real plan. That is exactly what The Definitive Guide to Retirement Income helps answer. It is a free guide from Fisher Investments covering what your retirement will really cost, where the cash flow should come from, and how much you can safely withdraw each year. Learn more here. Learn More Here › Contact [email protected] for any questions or corrections.

- Interested in Steel Dynamics, Inc.? Here are five stocks we like better. - Record steel performance drove strong third-quarter results: Steel Dynamics reported $756 million in net income, $6.5 billion in revenue and record steel shipments of 3.8 million tons. Steel operations generated $1 billion in operating income, supported by higher prices, strong demand and 92% mill utilization. - Aluminum operations continued to recover after a hot-strip-mill surface-quality issue caused lower production and a $26 million operating loss. Management said the issue was resolved, with utilization improving and finished automotive aluminum shipments expected before year-end. - Leadership and capital plans are changing: CFO Theresa Wagler is expected to become CEO when retiring CEO Mark Millett steps down at year-end. The company also repurchased $591 million of stock in 2026 and is evaluating more than $600 million in capital spending opportunities for 2027. - Nucor and Steel Dynamics Just Pulled Back—The Steel Story Still Looks Strong Steel Dynamics (NASDAQ:STLD) reported third-quarter 2026 net income of $756 million, or $5.26 per diluted share, as record steel shipments and higher realized steel prices lifted results from the prior quarter. The company generated $6.5 billion in revenue, operating income of just over $1 billion and adjusted EBITDA of $1.2 billion. Chairman and Chief Executive Officer Mark Millett said the company came in slightly below its earlier guidance range because of late-September foreign-currency and aluminum-hedging unrealized mark-to-market adjustments totaling just under $30 million. Still, the company posted record quarterly steel shipments of 3.8 million tons and operating cash flow of $846 million. → Berkshire Just Backed This Little-Known Stock—Should You Chase It? - These 3 Cash-Flow Stocks Give Investors More Than Just Growth Potential Millett also used the call to congratulate Executive Vice President and Chief Financial Officer Theresa Wagler on her planned appointment as CEO at the end of the year. Wagler has been with Steel Dynamics for more than 28 years, Millett said. Millett, who is retiring, said he expects to remain associated with the company in a more limited capacity. Steel operations generated $1 billion of operating income during the third quarter, up 43% sequentially. Wagler attributed the improvement to higher average realized steel pricing and record shipment volumes. The company's mills operated at a 92% utilization rate, compared with an estimated 80% for the domestic steel industry. → These 3 Green Stocks Have a Growth Story That Goes Far Beyond Washington - Tariffs Rose: 1 Steelmaker Thrived, 1 Still Struggles Wagler said flat-rolled steel market conditions remained favorable, citing strong customer demand, lean supply-chain inventories and elevated order lead times. Value-added spreads to hot-rolled coil prices increased to more than $230 per ton. About 80% of the company's flat-rolled portfolio is tied to contractual pricing that generally trails market changes by two months, which management said should support fourth-quarter results and extend into 2027. - Hot-rolled coil shipments were 992,000 tons in the third quarter. - Cold-rolled shipments were 146,000 tons. - Coated flat-rolled shipments were 1.63 million tons. During the question-and-answer session, Millett said steel markets were tight, with lead times extending into 2027, inventories at the low end of historical ranges and fourth-quarter outages expected to remove an estimated 1 million to 1.2 million tons from the market. He said scrap costs had remained relatively stable despite an October increase, supported by strong obsolete and prompt scrap flows, soft export markets and the company's scrap-segregation technologies. → Broadcom's CEO Sees Years of AI Demand But Warns of a Bigger Threat to the Boom "It would be our view that the margins or spreads will remain very strong to slightly upward in the coming months," Millett said. Steel Dynamics' aluminum operations posted an operating loss of $26 million in the third quarter, a 21% sequential improvement. Management said shipments and financial performance fell below its original expectations because of a surface-quality issue at the hot strip mill while the facility increased rolling speeds for light-gauge product. Millett said the company identified the need to change the coolant in the hot strip mill. The troubleshooting process, coolant change and reestablishment of rolling conditions resulted in several weeks of lower production and yield losses, reducing volume and increasing costs during the quarter. The issue has been resolved, according to management. Millett said October operations had improved materially, with the hot strip mill operating at 75% utilization during the month to date. The company believes it can reach 90% hot-strip-mill capability by year-end, though finished-product shipments will take additional time to move through downstream operations. All three cold mills are operational, while the first of two automotive continuous anneal and solution heat-treat lines is operating. The company has achieved finished-product qualification with multiple automotive manufacturers for 5182 and 5754 products and is conducting trials for 6000-series material. Steel Dynamics expects to ship finished automotive products before year-end, while the second automotive line is expected to begin operating in the first quarter of 2027. Wagler said yield improvements are expected before the end of 2026, while increased recycled scrap content should be in place by the first half of 2027. She said the company expects its aluminum product mix to continue improving through 2027, with automotive products potentially reaching an optimized mix around 2028 as the company gains access to additional automotive platforms. The steel fabrication segment reported $91 million in third-quarter operating income, compared with $85 million in the second quarter. Higher volume and pricing offset increased steel raw-material costs. Wagler said the company's steel joist and deck backlog was 50% higher than a year earlier, with improving demand and pricing expected to support 2027 results. Management said higher raw-material costs had pressured fabrication margins because pricing adjustments take time to work through the backlog. However, Wagler said projects entering the backlog for early 2027 delivery carry higher pricing and should support improvements in margins, volume and pricing next year. Steel Dynamics ended the quarter with $2.4 billion of liquidity and invested $150 million in capital expenditures during the quarter. The company expects fourth-quarter capital spending to be in a similar range. It repurchased $591 million of common stock during 2026, with $216 million remaining under its current authorization as of Sept. 30. For 2027, Wagler said the company was evaluating a pipeline of organic growth opportunities and estimated capital expenditures could be "in the range of $600-plus million," subject to refinement. Management expects to provide additional details during a capital markets day in the first half of 2027. Steel Dynamics, Inc is a steel producer and metals recycler headquartered in Fort Wayne, Indiana. The company manufactures steel products using electric arc furnace technology and serves customers across industries such as construction, automotive, manufacturing, and energy. Its operations include the production of flat rolled steel, long steel products, structural steel, rail, and specialty products. Steel Dynamics also provides steel processing and fabrication services, including the manufacture of steel joists, deck systems, and other components used in commercial and industrial construction. The company operates metals recycling facilities that collect, process, and supply ferrous and nonferrous scrap to support its steelmaking operations. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Steel Dynamics Q3 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for October 2026.

- Cleveland-Cliffs (CLF) surged 17% after Q3 EBITDA hit $612M, crushing guidance and soaring from just $143M a year ago. - Nucor (NUE) gained only 2% versus CLF's 17%, as Goncalves cited low imports and extended lead times supporting domestic steel demand. - Cleveland-Cliffs guided Q4 EBITDA to $715M, projects 2027 EBITDA exceeding $4 billion, and targets net debt below 2.5x EBITDA by mid-2027. - Just released. Our analysts combed the entire stock market and named the ten best stocks to buy right now, and Nucor didn't make the cut. Enter your email to see the names that beat NUE. The report is free. Enter your email and see if any of your stocks made the cut. A major U.S. steelmaker just delivered its best quarter in three years. Cleveland-Cliffs (NYSE:CLF) stock is up 10% to $13.29 this morning after the company's Q3 2026 report showed earnings before interest, taxes, depreciation and amortization (EBITDA) beating its own guidance. Meanwhile, Nucor (NYSE:NUE) shares are up 2%, rising far less than Cleveland-Cliffs stock. Nucor runs scrap-fed electric arc furnace mills, while Cleveland-Cliffs is an integrated producer that mines its own iron ore and sells heavily to automakers. The VanEck Steel ETF (NYSEARCA:SLX) rose 0.7% in the prior session through its close. Elsewhere, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.5%. That modest background marks the rally as one specific to Cleveland-Cliffs stock. Cleveland-Cliffs posted adjusted EBITDA of $612 million in Q3, clearing the $575 million guidance it gave three months earlier. Chairman and CEO Lourenco Goncalves stated, "Third quarter was our strongest quarter in three years." A year earlier, Cleveland-Cliffs generated only $143 million of adjusted EBITDA. The company's profitability reversed as well, with Cleveland-Cliffs earning net income of $165 million after a $134 million loss in Q2 2026. On a per-share basis, Cleveland-Cliffs earned an adjusted $0.28, exceeding the $0.24 consensus. ------ Free Report, Just Released Why Didn't NUE Make The Top 10 List? 24/7 Wall St has helped investors make money for over two decades, and our top analysts just finished ranking the definitive Top 10 Stocks To Buy Now. Not the ten biggest companies. Not the ten everyone is arguing about. The ten best stocks to buy right now. And NUE didn't make the cut! The report is free, and you can see why we think each stock is a top investment today. Enter Your Email and See the Ten → ------ Top-line results were the soft spot, as Cleveland-Cliffs revenue of $5.61 billion missed the $5.72 billion analysts expected. Yet, the company's sales rose 18.6% year over year. That split puts the spotlight on pricing and costs as the engine of the quarter. Behind the beat, Cleveland-Cliffs said average selling price, sales volumes and unit costs all improved from the second quarter. Its average net selling price rose to $1,177 per ton from $1,124, while shipments reached 4.2 million net tons versus 4.025 million. Goncalves tied the Cleveland-Cliffs rebound to a policy background that favors domestic mills. "The trade environment continues to support a healthy American steel industry. Imports remain well below historical levels, lead times are extended, and our customers increasingly recognize the value of a reliable domestic supply chain," he declared. Stelco, the Canadian steelmaker Cleveland-Cliffs bought two years ago, turned EBITDA positive in Q3 as the local hot-rolled market improved. Galvanized steel remains oversupplied in Canada. As a result, management made "the difficult but necessary decision to indefinitely idle our galvanizing lines at Stelco." Production there is now concentrated on hot-rolled products. Steel Dynamics (NASDAQ:STLD), a fellow domestic steelmaker, sells into the same U.S. market Goncalves described; STLD shares are up 1% to $243.20. For Cleveland-Cliffs, its heavy automotive mix makes contract pricing the key driver as customers place more value on a reliable domestic supply chain. Cleveland-Cliffs expects Q4 2026 adjusted EBITDA of approximately $715 million, with higher pricing partly offset by seasonality, maintenance outages, input costs and incentive compensation accruals. That guidance would mark another step up from the Q3 result. Management also expects a major debt reduction in the quarter, funded by stronger free cash flow and property sale proceeds. Cleveland-Cliffs has already signed new contracts. Looking further out, Goncalves stated that, based on current index price forecasts, "we would expect our 2027 adjusted EBITDA to exceed $4 billion." The Q3 cash generation at Cleveland-Cliffs gave the plan a starting point, with the company producing $224 million in operating cash flow and $72 million in free cash flow. Debt reduction remains the company's top use of that cash until the leverage target is reached. Cleveland-Cliffs carries real risks, including heavy debt, reliance on automotive demand and volatile steel and iron ore prices, but upside rests on contract resets and the 2027 outlook, while the idled Stelco galvanizing lines show the Canadian business remains a work in progress. Shareholders can watch for whether the promised fourth-quarter debt reduction lands. Cleveland-Cliffs now faces the question of whether its leverage falls under 2.5x net debt to EBITDA by mid-2027, the target management reaffirmed. Investors should consider keeping their position sizes modest until the Cleveland-Cliffs margin recovery resolves. If you have cash sitting in your account right now, give this two minutes. After more than two decades of helping investors beat the market, our top analysts at 24/7 Wall St. put together a definitive report on the Top 10 Stocks To Buy Today. And NUE wasn't one of them. They combed the entire market. It's not 10 ideas, not 10 stocks everyone is talking about, it's what their research points to as the 10 best stocks to buy right now, and it's free. Read more here and see which stocks made the list -->> Contact [email protected] for any questions or corrections.

The market expects Nucor (NUE) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 26. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This steel company is expected to post quarterly earnings of $5.71 per share in its upcoming report, which represents a year-over-year change of +117.1%. Revenues are expected to be $10.53 billion, up 23.6% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 9.11% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Nucor, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%. On the other hand, the stock currently carries a Zacks Rank of #1. So, this combination makes it difficult to conclusively predict that Nucor will beat the consensus EPS estimate. While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Nucor would post earnings of $4.57 per share when it actually produced earnings of $4.84, delivering a surprise of +5.91%. Over the last four quarters, the company has beaten consensus EPS estimates three times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Nucor doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nucor Corporation (NUE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Cleveland-Cliffs (NYSE:CLF), a North American flat-rolled steel producer, closed at $14.10, up 16.34%. The stock rose after stronger third-quarter results and a higher EBITDA outlook. Investors are watching whether steel pricing and signed contracts can support the updated 2027 target. Trading volume reached 84.1 million shares, coming in about 324% above its three-month average of 19.9 million shares. The S&P 500 (SNPINDEX:^GSPC) rose 0.42% to 7,691, while the Nasdaq Composite (NASDAQINDEX:^IXIC) advanced 1.11% to 26,431. Among steel manufacturing and flat-rolled iron/steel production peers, Nucor closed at $260.75, up 1.74%, and Steel Dynamics closed at $245.17, up 1.92%, as investors read the group through stronger pricing and earnings momentum. Cleveland-Cliffs said adjusted EBITDA reached $612 million, more than double the prior quarter, and the stock jumped on the stronger margin recovery. Management expects robust steel pricing and demand to continue, predicting that adjusted EBITDA will exceed $4 billion in 2027. Earnings per share beat estimates, and the results boosted other domestic steel stocks. Even with strong sector tailwinds, investors will need to watch for company-specific issues. After the bell, Steel Dynamics reported record steel shipments, but shares sank after earnings missed estimates. Charges and start-up issues from that company's new aluminum mill operations weighed on the bottom line. North American steel giant Nucor will report next week, on Oct. 27. If no company-specific surprises arise, investors should expect a solid report mirroring Cleveland-Cliffs' beat today. Before you buy stock in Cleveland-Cliffs, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Cleveland-Cliffs wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $380,363!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,315,732!* Now, it's worth noting Stock Advisor's total average return is 919% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of October 19, 2026. Howard Smith has positions in Nucor and has the following options: short December 2026 $200 calls on Nucor, short December 2026 $240 calls on Nucor, short December 2026 $300 calls on Nucor, and short January 2027 $210 calls on Nucor. The Motley Fool recommends Steel Dynamics. The Motley Fool has a disclosure policy. Stock Market Today, Oct. 19: Cleveland-Cliffs Surges on Stronger Q3 Results and Raised 2027 EBITDA Outlook was originally published by The Motley Fool

Steel Dynamics (STLD) came out with quarterly earnings of $5.26 per share, missing the Zacks Consensus Estimate of $5.42 per share. This compares to earnings of $2.74 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -2.95%. A quarter ago, it was expected that this steel producer and metals recycler would post earnings of $3.56 per share when it actually produced earnings of $3.69, delivering a surprise of +3.65%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Steel Dynamics, which belongs to the Zacks Steel - Producers industry, posted revenues of $6.51 billion for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 6.60%. This compares to year-ago revenues of $4.83 billion. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Steel Dynamics shares have added about 42% since the beginning of the year versus the S&P 500's gain of 11.9%. While Steel Dynamics has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Steel Dynamics was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $6.14 on $6.15 billion in revenues for the coming quarter and $18.23 on $23.55 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Steel - Producers is currently in the top 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Nucor (NUE), has yet to report results for the quarter ended September 2026. The results are expected to be released on October 26. This steel company is expected to post quarterly earnings of $5.71 per share in its upcoming report, which represents a year-over-year change of +117.1%. The consensus EPS estimate for the quarter has been revised 9.1% higher over the last 30 days to the current level. Nucor's revenues are expected to be $10.53 billion, up 23.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Steel Dynamics, Inc. (STLD) : Free Stock Analysis Report Nucor Corporation (NUE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Steel Dynamics (NASDAQ:STLD) is scheduled to report its earnings on Monday, October 19, 2026. The company has a market value of about $34.7 billion. Over the last twelve months it generated $20.5 billion in revenue and $2.2 billion in operating profit, with net income of $1.6 billion. How the stock moves after the release will depend on how the results and outlook compare with expectations. What history can offer is the base rate: how often, and how far, the stock has moved after past reports. See the earnings reaction history of all stocks How Often Has Steel Dynamics Stock Risen After Earnings? Some observations on one-day (1D) post-earnings returns, measured from the last close before each release: - There are 20 earnings releases in the last five years, with 10 positive and 10 negative one-day (1D) returns. Positive 1D returns were seen 50% of the time. - Over the last three years that share rises to 58%, across 12 releases. - The median of the 10 positive 1D returns is 4.2%, and the median of the 10 negative ones is -1.8%. - The largest one-day reactions were 10.0% and -4.1%. The table below shows the 1D, 5-day (5D) and 21-day (21D) returns after each release, followed by summary statistics. Earnings Date | 1D | 5D | 21D 7/21/2026 | 1.3% | 8.6% | 8.4% 4/21/2026 | 5.2% | 7.5% | 6.7% 1/27/2026 | 1.3% | 7.6% | 10.5% 10/21/2025 | 5.2% | 8.0% | 5.7% 7/22/2025 | -1.7% | -3.2% | -4.7% 4/23/2025 | 4.3% | 10.1% | 12.6% 1/23/2025 | -0.4% | 5.1% | 6.4% 10/17/2024 | 4.0% | -0.9% | 6.1% 7/18/2024 | -0.7% | -5.2% | -9.2% 4/24/2024 | -3.2% | -3.0% | -1.1% 1/24/2024 | 0.3% | 5.4% | 7.4% 10/19/2023 | -4.1% | -3.5% | 6.3% 7/20/2023 | -3.0% | -1.5% | 0.1% 4/21/2023 | -1.3% | -6.4% | -12.9% 1/26/2023 | 10.0% | 13.5% | 7.3% 10/20/2022 | 6.2% | 21.5% | 25.2% 7/21/2022 | 3.9% | 6.9% | 24.0% 4/22/2022 | -0.3% | -4.3% | -12.8% 1/26/2022 | -1.8% | 6.4% | 16.9% 10/21/2021 | -3.1% | -0.8% | -2.2% Statistic | 1D | 5D | 21D # Positive | 10 | 11 | 14 # Negative | 10 | 9 | 6 Median Positive | 4.2% | 7.6% | 7.4% Median Negative | -1.8% | -3.2% | -7.0% Max Positive | 10.0% | 21.5% | 25.2% Max Negative | -4.1% | -6.4% | -12.9% Do Early Post-Earnings Moves Continue? Another approach is to wait for the initial reaction and ask whether it tends to continue. The table below shows the correlation between the 1D return and the return over the following 5 and 21 trading days, and between the 5D return and the following 21 trading days. A value near 1 means the first move has tended to continue; near -1, to reverse; near 0, no consistent pattern. None of these correlations is strong enough to trade on: all are below 0.40 in absolute terms over five years, so the early post-earnings move has not reliably predicted what followed. History | 1D vs next 5D | 1D vs next 21D | 5D vs next 21D 5 Years | 0.28 | 0.09 | 0.28 3 Years | 0.20 | -0.03 | -0.12 Do Peers That Report First Offer A Clue? Commercial Metals (CMC) usually reports a few weeks before Steel Dynamics, and has already reported this season: its stock rose 0.1% the day after its October 15 report. The table compares each peer's one-day reaction to its own earnings with Steel Dynamics' one-day reaction to the report that followed, for the 14 quarters in which CMC reported first. The correlation is -0.14; the closer to 1, the more the peer's reaction has foreshadowed Steel Dynamics', and a negative value means it has tended to point the other way. STLD Earnings Date | STLD 1D | CMC 1D 7/21/2026 | 1.3% | 3.9% 4/21/2026 | 5.2% | -4.7% 1/27/2026 | 1.3% | -3.6% 10/21/2025 | 5.2% | -7.3% 7/22/2025 | -1.7% | 1.2% 1/23/2025 | -0.4% | 3.1% 7/18/2024 | -0.7% | 3.8% 1/24/2024 | 0.3% | 7.5% 10/19/2023 | -4.1% | -9.6% 7/20/2023 | -3.0% | 8.8% 4/21/2023 | -1.3% | 3.1% 1/26/2023 | 10.0% | -0.6% 10/20/2022 | 6.2% | 6.1% 1/26/2022 | -1.8% | 0.6% Correlation | - | -0.14 An earnings release can move one stock sharply in either direction. A diversified portfolio spreads that risk. The Trefis High Quality (HQ) Portfolio holds about 30 quality businesses, rebalanced with rules, and has a track record of outperforming a benchmark that combines the S&P 500, the S&P MidCap 400, and the Russell 2000.

- AI jitters and rising rates are fueling a market rotation into once beaten-down defensive and real-economy stocks - Steel Dynamics, Nucor, Kroger, and Kimberly-Clark face key earnings reports and corporate catalysts in the days ahead - Earnings commentary, AI infrastructure demand, dealmaking developments, and even midterm election outcomes could determine whether the rotation has staying power October has already provided a scare for tech investors. Information Technology was the lone S&P 500 sector in the red month-to-date coming into Friday, the 16th. AI jitters, rising interest rates, concerning CDS spreads, and even regulatory worries cooled the once red-hot megatrend. Will recent price action prove to be yet another buyable pullback? Or is something more sinister at play? Chances are, we'll find out much more over the coming weeks as Q3 reports roll in. For now, momentum traders find themselves strolling down unusual aisles. Indeed, as I.T. lags, defensive and rate-sensitive spaces such as Consumer Staples, Utilities, Health Care, and Materials have caught bids. Simply scan through price charts of blue chips in these real-economy sectors, and you'll come across many apparent bottoming patterns. Now, normally, the bulls don't want to see the safest parts of the global stock market outperforming risk-on areas. Historically, when defensives lead within a choppy tape, the chances increase that a durable bear market may be lurking around the corner. Today, though, it could simply be one big rotation, a move out of high-growth AI stocks and into equities that were beaten down too much by the sharp interest rate climb from late August through the early days of October. After all, they say rotation is the lifeblood of bull markets. We'll see how it all shakes out. No matter the consequences, Q4 will probably continue to provide many compelling storylines. Narratives may take more twists and turns in the following sessions, too. Zooming in on a pair of the aforementioned non-tech sectors, several stocks could see unusual volatility that traders should keep on their radar. And while they don't drip AI, recent company announcements show that data centers, large language models, and agentic programs have long tentacles that reach far beyond Silicon Valley. First up: Steel Dynamics (STLD). The $35 billion market cap Materials sector company reports Q3 results after the bell on Monday, October 19. The Indiana-based cyclical firm has seen its stock surge 65% in the past year, boosted by big nationwide construction spending spurred by what else? Data centers. But it and industry peer Nucor (NUE) hit the skids in mid-September following soft preliminary earnings numbers. STLD executives said they expected third-quarter earnings of $5.34–$5.38 per share, far shy of consensus estimates at the time. Compared to a year ago, however, even the low-end number would represent a near-doubling of operating EPS. Could the bar be low enough for STLD to hurdle with flying colors? It remains to be seen, but the stock has paced itself for the better part of six months. After peaking at $289 in mid-June, STLD has flirted with its 200-day moving average since the middle of the year after a smelter-hot rally that began in August 2025 at $120. A new CEO is at the helm, and trade policy matters greatly for this steel company. Monday's report and earnings call will be of particular interest. As for Nucor, the $58 billion Materials company's shares have enjoyed (and then weathered) similar price developments. Its Q3 report is confirmed for Monday, October 26, BMO. The North Carolina-based name announced a $105 million expansion of its Indiana utility towers facility to add capacity to manufacture poles and other products to support power transmission and distribution infrastructure. A healthier grid is critical to the AI buildout. Comments from management will be particularly practical in light of recent AI news. Next, Kroger (KR) has their cart full in the days ahead. The country's largest stand-alone retail grocer comes through the earnings checkout line in early December. In the here and now, it hosts an Investor Day on Tuesday, October 20. Just recently, on October 12, the Consumer Staples player announced it would eliminate 3,000 corporate jobs (37% of its ~8,200 corporate workforce) as part of a three-year restructuring.1 The headcount cut is an AI-efficiency byproduct. Cost-conscious consumers pressure its net sales, while record-high diesel prices surely drive up the expense side of the ledger as the holiday season approaches. Shares are down 9% over the past 12 months, though KR has rallied since the start of the second half. Investors will seek answers on Tuesday regarding the saga between the company and rival Albertsons Companies (ACI). Reported last week, Albertsons asked a Delaware court to force Kroger to pay as much as $9.3 billion over the dissolved $24.6 billion merger between the two industry stalwarts. That nixed deal has been an overhang for years, potentially making the Investor Day a little spicier. Finally, Kimberly-Clark Corporation (KMB) issued a bullish preliminary earnings statement on Thursday, October 15, ahead of full Q3 results confirmed for Thursday, November 5, BMO. The often-quiet Consumer Staples stock surged nearly 5%, almost its best day since April 2024. Shareholders needed the boost, as KMB was down 18% YoY beforehand. Specifically, KMB now expects to earn an adjusted profit of $1.70 per share, about $0.11 above estimates, with net sales of $4.134 billion (down 0.4% from a year ago but above forecasts). KMB has M&A on its mind as well. The $33 billion market cap company received conditional approval from the European Commission on October 13, for its $40 billion (or $48.7 billion including debt) acquisition of Kenvue (KVUE). Paired with the upbeat earnings pre-announcement, it could be a successful end to the year, assuming the deal is finalized in the coming months. Plenty of story-stocks and recent alpha generators are outside AI glamor companies. Absolute and relative strength have ticked up in real-economy sectors that were beaten up as investor dollars flowed to tech. Macro conditions, such as ebbing Treasury rates and the upcoming U.S. midterm elections, are wildcards. Still, traders and portfolio managers should listen up for commentary in perhaps unusual places this earnings season. 1 Kroger To Reportedly Eliminate 37% Of Corporate Workforce In Operations Overhaul, Stocktwits, Yahoo Finance, Shashank Nayar, https://finance.yahoo.com Copyright © 2026 Wall Street Horizon, Inc. All rights reserved. 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