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Home News U.S. Steel Attracts New Bidder, Scholastic Shares Decline Following Results

U.S. Steel Attracts New Bidder, Scholastic Shares Decline Following Results

by sun

In the after-hours trading session, U.S. Steel Corporation (NYSE:X) saw a 2% increase in its stock value, while Scholastic Corp (NASDAQ:SCHL) experienced a significant decline of 12%. Highpeak Energy Acquisition Corp (NASDAQ:HPK) also made headlines with a 7% increase in its stock price.

Scholastic Corp (SCHL) Records 12% Decline:

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Scholastic Corp reported its first-quarter earnings, revealing an EPS (Earnings Per Share) of ($2.20). This result fell notably short of analyst expectations, missing the consensus estimate of ($1.20) by $1.00. Furthermore, the company’s quarterly revenue stood at $228.5 million, significantly below the consensus estimate of $272.52 million.

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Highpeak Energy Acquisition Corp (HPK) Surges 7%:

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Highpeak Energy Acquisition Corp experienced a notable upswing, with its stock prices rising by 7% during after-hours trading. This positive movement coincided with the CEO’s acquisition of over $8 million worth of company stock.

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Canada’s Stelco Holdings Eyes Bid for U.S. Steel (X):

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In a noteworthy development, Canada’s Stelco Holdings is reportedly considering a bid for United States Steel Corporation (X). According to reports from Bloomberg, Stelco Holdings is contemplating this move, joining other potential bidders interested in acquiring U.S. Steel.

These after-hours market movements indicate dynamic shifts in the trading landscape, with U.S. Steel’s potential bid attracting attention, while Scholastic’s disappointing earnings results led to a significant decline in its stock value. Highpeak Energy Acquisition Corp, on the other hand, garnered positive investor sentiment following substantial stock purchases by its CEO.

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Please note that all stock movements are subject to change as after-hours trading continues, and further developments may impact market dynamics. Stay tuned for updates on these market developments.

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