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AK Steel (AKS) Stock Rises on Q2 Earnings Beat

NEW YORK (TheStreet) -- Shares of AK Steel (AKS) are rising 6.64% to $5.78 this morning after the company reported a surprising profit for the 2016 second quarter.

AK Steel reported adjusted earnings of 8 cents per diluted share. Analysts were looking for the West Chester, OH-based company to report a loss of 2 cents per share.

The company also had revenue of $1.49 billion for the quarter, falling short of estimates of $1.53 billion. The lower revenue was attributed to lower automotive contract pricing as well as a...