Posts for Ticker ‘IIIN’

Coal and Steel Play Follow the Leader (IIIN, RS, ACI, BTU, MEE, NUE)

Two small-cap steel companies reported earnings before the market opened today. Insteel Industries (NASDAQ:IIIN) beat analysts’ estimates of $0.60 EPS on $101 million in revenue, posting EPS of $0.89 on revenues of $106 million. Reliance Steel (NYSE:RS) posted EPS of $2.07 on revenue of $2.57 billion, easily outpacing estimates of $1.95 EPS and revenue of $2.37 billion. Insteel is up more than 3% and Reliance is up more than 11% in early trading today.

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Posted on: October 16, 2008 – 2:48 pm in Commodities, Earnings, Metals, , , , , ,