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Nucor and Acuity Brands Fell on December 14

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Dec. 4 2020, Updated 10:43 a.m. ET

Nucor 

Nucor (NUE), which the largest steel producer in the US, was one of the S&P 500’s top losers on Thursday. After gaining for three consecutive trading weeks, Nucor started this week higher but lost upward momentum as the week progressed.

The selling pressure in Nucor increased on December 14 after the announcement of its 4Q17 guidance. According to management, the earnings per share guidance for the fourth quarter that ended on December 31 is $0.5–$0.55. The sentiment weakened following the report. The 4Q17 guidance is less than the 3Q17 guidance of $0.79 per share and in-line with 4Q16 earnings of $0.5 per share. Nucor fell 3.7% to $59.54—a one-week low price level. Nucor is part of the S&P 500 Materials sector, which fell 1.1%.

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Acuity Brands

Acuity Brands (AYI), which is an American electronics manufacturing company, was one of the S&P 500’s major losers on December 14. Following a strong performance for two weeks, it rose in the first two trading days this week and lost strength amid profit-booking. On Thursday, in addition to profit-booking, weakness in the industrials sector weighed on Acuity Brands. Management plans to release the corporate results for 1Q18 on January 9.

Acuity Brands is part of the S&P 500 Industrials sector, which fell 0.65%. On December 14, Acuity Brands fell 3.5% and closed the day at $161.53.

In the next part, we’ll discuss how TechnipFMC (FTI) and Hess (HES) performed on December 14.

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