| US Steel decides against new HQ in Penguins development | |
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PITTSBURGH (AP) -- United States Steel Corp. has pulled out of a deal to build its new world headquarters as part of an ongoing $440 million redevelopment of the former Civic Arena site by the NHL's Pittsburgh Penguins. Thursday's decision comes almost exactly a year after company, team, local and state officials announced the plans at the Consol Energy Center, the Penguins new arena. That arena sits across the street from the site where a team-controlled subsidiary planned to break ground on the new headquarters and complete the project before U.S. Steel's lease expires at its current downtown location. The announcement comes two days after the steelmaker reported a third-quarter loss of $173 million, more than four times worse than analysts had forecast. U.S. Steel's stock has dropped nearly 61 percent this year, from $26.59 per share to $10.39 on Thursday — down 67 cents for the day. The company didn't explain the move in a brief statement. "We can confirm that U.S. Steel will not be moving into a new headquarters building at the site of the former Civic Arena," the statement said. |
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United States Steel Corporation
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CODE : X |
ISIN : US9129091081 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
United States Steel is a iron and tin producing company based in United states of america. United States Steel is listed in United States of America. Its market capitalisation is US$ 6.6 billions as of today (€ 6.2 billions). Its stock quote reached its lowest recent point on March 28, 2003 at US$ 10.01, and its highest recent level on November 30, 2007 at US$ 98.85. United States Steel has 176 184 431 shares outstanding. |