Steel Stocks Flash a Warning 🏭

Steel producers Nucor $NUE ( ▲ 1.71% ) and Steel Dynamics $STLD ( ▲ 2.99% ) fell 3.07% and 4.45%, respectively, in after-hours trading on Thursday due to weaker financial outlooks.

Financials: Nucor said it expects earnings to be in the range of $5.55 to $5.65 per share in the quarter. Steel Dynamics expects earnings to be in the range of $5.34 to $5.38 per share. Both were lower than expected.

Powering the Story: Both companies praised growing business segments while calling out lagging units.

Nucor expects earnings in the steel mills and steel products segments to increase due to higher average selling prices. But earnings will likely decrease in the raw materials segment due to lower pricing and shipments.

Steel Dynamics expects the company’s steel operations earnings to grow due to metal margin expansion across the platform and record shipments. But earnings in its metals recycling operations are expected to fall due to lower metal spreads and modestly lower shipments.

Background: Shares of Steel Dynamics were up 39% in 2026, while shares of Nucor were up 56%.

Early Bird’s Nest Egg Gains: U.S. steel producers are caught between reasonably solid shipment demand and fragile profitability. They need steel prices to stay high enough to cover rising operating costs while end customers remain price-sensitive and the industry manages trade and supply risks.

Final Thoughts: Both Steel Dynamics and Nucor will report full financial results in October.

^{PRESENTED BY KINCORA COPPER}

A Gold-Copper Explorer With Up to A$100M in Partner-Funded Exploration Commitments

Kincora Copper (ASX: KCC | TSXV: KCC) is exploring across two of Australia’s most prolific mining districts, the Macquarie Arc and Cobar Basin. What makes Kincora particularly interesting is its hybrid prospect generator model, which brings in partners to fund exploration while Kincora maintains exposure to discoveries.

🤝 AngloGold Ashanti has committed up to A$100M toward exploration across Kincora’s Northern Junee-Narromine Belt through staged earn-in and JV agreements. The commitment is subject to conditions and milestones. Kincora operates the programs and receives a 10% management fee on partner expenditures.

⛏️ Kincora is also advancing its 100%-owned Condobolin project, where the Meritilga target has returned 4 metres at 20 g/t gold from 75 metres depth. The company recently completed nine holes of systematic drilling, with assays pending.

📊 As of July 10, 2026, Kincora had an approximately A$40M market cap and more than A$13M in cash, with 25,000+ metres of drilling approved across four projects, giving the company a substantial exploration pipeline ahead.

Kincora is still an early-stage explorer and has not declared a mineral resource on its current properties. Exploration results are uncertain, and past results do not guarantee future success.

Read the free research report linked here.

This content is sponsored by Kincora Copper Limited (ASX/TSXV: KCC). The creator has been compensated for producing this material. This is not investment advice. Mineral exploration is speculative and involves significant risk, including the potential loss of invested capital. Kincora Copper has not declared any mineral resources on its current properties. Past exploration results are not indicative of future outcomes. Always conduct your own research and consult a licensed financial advisor before making investment decisions.

Notables

Notable Earnings Today: N/A.

Notable IPOs Today: Orion180 Insurance Group Inc. Class A common stock (Nasdaq: OIG), Churchill Capital Corp XIII Class A Ordinary Shares (Nasdaq: XIII), Electra Therapeutics, Inc. Common stock (Nasdaq: ETRA).

Notable Equity Crowdfunding Campaigns Ending Today: Gravel Road Brewing Co (Honeycomb Credit).

Notable Economic Events Today: Industrial Production (9:15 a.m. ET), U.S. Leading Index (10:00 a.m. ET).

Xenon Pauses New Enrollment

Photo by Yassine Khalfalli on Unsplash

Xenon Pharmaceuticals $XENE ( ▲ 1.04% ) plunged 25.39% in after-hours trading on Thursday after the company voluntarily paused enrollment for new patients in ongoing clinical studies for a new drug used to treat major depressive disorder and bipolar depression.

Details: The pause follows an analysis of neuropsychiatric adverse events in these studies. Xenon said the pause is a precautionary measure done in consultation with its Data Safety Monitoring Board and is expected to be temporary.

Final Thoughts: Xenon’s stock was up 28% this year, which means this pause just erased most of the stock’s 2026 gains.

Solana Recovers Following Recent Downturn

The price of Solana $SOL ( ▲ 5.53% ) jumped about 2% on Thursday. Most cryptocurrency prices, including Solana’s price, fell earlier this week because of the stalled CLARITY Act.

Final Thoughts: Solana’s price is still down about 18% this year.