Saturday, October 23, 1999
TRISTATE MARKET SPOTLIGHT
AK Steel shares gain 14.4 percent
Shares of AK Steel Holding Corp. gained $2.061/4, or 14.4 percent, to close Friday at $16.371/2.
The Middletown-based steel company was raised to strong buy from outperform by an analyst at Morgan Stanley Dean Witter after releasing better-than-expected earnings.
Late Thursday, AK Steel said it earned 37 cents a share from continuing operations.
Analysts had expected AK Steel to earn 23 cents a share.
A year ago, income from continuing operations totaled $30.1 million, or 28 cents a share.
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TRISTATE MARKET SPOTLIGHT
