These 5 Stocks are Falling Today

4. Nucor Corporation (NYSE:NUE)

Number of Hedge Fund Holders: 32

Shares of Nucor Corporation (NYSE:NUE) fell nearly six percent in the pre-market trading session today. The drop came after the steel producer issued a weak profit outlook for its fiscal third quarter.

Nucor Corporation (NYSE:NUE) guided for earnings in the range of $6.30 – $6.40 per share, compared to $7.28 per share in the corresponding period of 2021. The guidance also missed the consensus of $7.56 per share.

The company said profit from its steel mills business is expected to drop sharply in the third quarter on a sequential basis. Nucor Corporation (NYSE:NUE) blamed lower shipping volumes and margin contraction for the weakness.