United States Steel Corporation (NYSE: X) has provided guidance for the second quarter of 2023, stating that its adjusted net earnings per diluted share are expected to be in the range of $1.81 to $1.86. This surpasses the consensus estimate of $1.76.

The company anticipates another strong quarter, attributing its performance to a focus on strategic markets and the development of a more resilient business model. U.S. Steel expects adjusted EBITDA of $775 million, driven by a diverse order book, higher selling prices, and management actions aimed at improving operational metrics and cost performance across its segments.

The projected performance for the second quarter is expected to result in a cash position of approximately $3 billion by the end of the quarter. Additionally, the company plans to repurchase shares worth $75 million during the same period.

On Friday, $X closed at $23.41, down $0.45 (-1.89%).

Berkshire Hathaway Inc. (NYSE: BRK.A)(NYSE: BRK.B), led by billionaire investor Warren E. Buffett, has increased its passive stakes in five major Japanese trading companies through a wholly-owned subsidiary. These companies, namely Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo, now represent Berkshire's sole publicly traded investments in Japan. The combined value of these holdings surpasses that of Berkshire's public stocks in any other country outside of the U.S.

Berkshire Hathaway's ownership interest in each company averages over 8½%, excluding treasury stock, aligning with its disclosure practices for U.S. companies. The company intends to maintain its Japanese investments for the long term. 

While it may increase its holdings up to 9.9%, further purchases beyond that threshold require specific approval from the investee's board of directors, as pledged by Warren E. Buffett.

On Friday, Berkshire Hathaway's Class A shares ($BRK.A) closed at $514,000.00, reflecting a decrease of $2,391.00 (-0.46%). Similarly, the Class B shares ($BRK.B) closed at $338.31, down $1.51 (-0.44%).

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