Steelmakers: USX said second-quarter earnings fell 15%...
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Steelmakers: USX said second-quarter earnings fell 15% to $212 million on revenue that slid 7% to $4.6 billion. The Pittsburgh-based company said weak steel prices and a $99-million charge related to the sale of Texas Oil and Gas properties were the main reasons that profit dropped. Wheeling-Pittsburgh’s income totaled $38.5 million for the quarter, down 33% from the same quarter of last year. Sales were down 5% to $287.1 million. The company said fewer shipments and lower prices contributed to the results.
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