Referenced Stocks

United States Steel Slips 2.2%; To Sell Serbian Unit

By Midnight Trader,  January 30, 2012, 09:46:29 AM EDT

United States Steel ( X ) slipped 2.2% at opening bell, after announcing that it is planning to sell U.S. Steel Serbia d.o.o. to the Republic of Serbia for a

nominal purchase price, subject to finalization and execution of definitive

agreements.

The company expects to record a total non-cash charge of $400 mln to $450 mln

in Q1 of 2012, which includes the expected loss on the sale and a charge of

about $50 mln to recognize the cumulative currency translation adjustment

related to the company's net investment in Serbia.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: X



Latest News Video

San Antonio Flash Flood Kills 1, Prompts Evacuations
San Antonio Flash Flood Kills 1, Pr...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.24 0.03  0.23%
FB $ 24.32 0.74  2.95%
SIRI $ 3.58 0.04  0.99%
GE $ 23.53 0.13  0.55%
PFE $ 29.04 0.07  0.24%
MSFT $ 34.27 0.12  0.35%
INTC $ 23.93 0.12  0.50%
P $ 16.43 0.73  4.25%