AK Steel Under Occupational Health Investigation, United States Steel Anticipates Redemption After Corporate Tax Reforms
AK Steel is currently engaged in a publicity crisis, with the company facing sanctions from the Occupational Health and Safety Administration. OSHA expects a report on the findings of the ongoing investigations. United States Steel Corporation is expecting to turn its stock price fortunes, amid the tax reforms looming large. Here’s a closer look at the numbers.
RDI Initiates Coverage:
AK Steel Holding Corporation
United States Steel Corporation
AK Steel started trading at $7.11, and by midday, with the steel manufacturer’s stock price on an inconsistent bullish upward surge. The problem however is not with the stock market but on the company’s internal employee woes.
The company is currently facing sanctions form OSHA, the occupational health and safety watchdog. On March 22, OSH sent a letter to the company’s Middletown plant to investigate cases of workplace hazards involving the welding unit of the plant. OSHA makes random inspections on factories and plants, to ensure all working conditions are met. Lisa Jester, AK Steel Spokesperson, however, said they are working with OSH in a ‘’non-formal capacity’’ while approaching the situation. The company has until tomorrow, Wednesday to submit a report of the investigations.
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United States Steel shares plummeted 0.03% early morning, with the company currently trading at $33.17, and had earlier fell even lower to $31.85. Investors are on high alert, amid the fluctuating legislative uncertainties from White House.
The anticipation of corporate Tax Reforms under the new presidency is slowly gaining traction, as companies are now rubbing their hands together for an expected tax relief. X Corporation is at the center of the anticipated reform, with its stock price being influenced by deregulation and infrastructure spending. S&P futures fell below the 50-day average for the first time since President Trump took office. Traditional analysis techniques would suggest that this is not a positive. However, with the emergence of ‘’smart investments’’, traditional analysis may not be able to give an accurate projection of what will happen in the future.
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Our Actionable Research on AK Steel Holding Corporation (NYSE:AKS) and United States Steel Corporation (NYSE:X) can be downloaded free of charge at Research Driven Investing.
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