Monday, May 24, 2010

Commercial Metals (NYSE:CMC) Rebounds After Hours

Commercial Metals (NYSE:CMC) doesn't have too good of an outlook in the near term, and they've been pretty shake in their stock performance over the last year.

They did have a nice spike in the second quarter, but other than that, they've pretty much been level, spiking up and down with seemingly no direction.

Recent guidance from the company confirms they're not too optimistic going forward, as in the third quarter they're expecting a loss of 10 cents a share, or at best, breaking even. And from the recent history of the company, that seems to be in line with the reality.

But even that weak guidance is more optimistic than analysts, who are looking for a loss of 19 cents a share for the third quarter.

Commercial Metals ended the session at $14.16, down 24 cents, or 1.67 percent. They have rebounded slightly in after hours trading, gaining 9 cents, or 0.66 percent.

Their third-quarter report is scheduled for June 22.

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