Saturday's attack is the biggest on Saudi oil infrastructure since Saddam Hussein's invasion of Kuwait in 1990.Energyread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
"Blaming Iran won't end disaster. Accepting our April '15 proposal to end war & begin talks may," Zarif said on Twitter.Energyread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
The Trump administration's tariffs on steel and aluminum imports helped Nucor log its second-best earnings report ever, the steelmaker's Chairman, President and CEO John Ferriola told CNBC on Thursday.
Nucor reported its second-quarter results before Thursday's opening bell, topping Wall Street estimates on earnings per share and revenues.
Higher selling prices and shipments drove a record-breaking second quarter for the company, which makes steel products for numerous industries including the oil and gas space.
But Ferriola said that tariffs weren't the defining factor of Nucor's latest quarter.
"Let’s take a look at the facts," he said in an interview with "Mad Money" host Jim Cramer. "Certainly, we get a tailwind from the tariffs. But the tariffs really only have gone into effect, full effect, in June. So we’re just beginning to see the impact of that."
Ferriola noted that from the first half of 2017 to the first half of 2018, U.S. steel imports only dropped roughly 1 million tons, a "very small change" by industry standards, the CEO said.
"And that difference in the supply chain from imports [was] more than made up by domestic companies increasing their utilization," he added.
The CEO also highlighted Nucor's long-term strategy — which included pouring $8 billion into its business during the financial-crisis-driven downturn — as a driving factor in its recent success.
"Jim, you’ve heard me say on this show how many times that if Nucor had a level playing field on which we could compete, we would be very successful? And we are," he told Cramer. "And you’ve heard me also say that we’ve spent lots of money during the downturn preparing for the inevitable upturn in the steel market. Well, it’s here. We are capitalizing on it. There should be no surprise that we had a very strong quarter.”
Nucor is currently investing another $1.5 billion in "eight very strategic projects" slated for 2019 and 2020 launches that will create "good, high-paying American jobs for American workers," Ferriola said.
Nucor's stock slid 1.43 percent into Thursday's close, settling at $64.67 a share.
Disclosure: Cramer's charitable trust owns shares of Nucor.