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Stock Market & Financial Investment News

News Breaks
February 27, 2014
09:08 EDTCLF, MTCliffs Natural announces extended supply agreement with ArcelorMittal
Cliffs Natural Resources (CLF) announced that it has entered into a revised commercial agreement with ArcelorMittal (MT) USA to supply iron ore pellets for an additional two years through the end of January 2017, with a mutual option to extend for a third year. In addition, Cliffs and ArcelorMittal USA have also extended their joint partnership for the Empire Mine located on the Marquette Iron Range in Michigan.Previously, Cliffs had announced an impending closure of the Empire Mine. Until the amended commercial agreement was reached with ArcelorMittal, the Empire Mine did not have a customer for pellet production beyond FY14. In addition, the partnership arrangement was scheduled to expire automatically in December, without the mutual agreement of both companies to extend. With this decision, Cliffs and ArcelorMittal will extend the life of this mining operation into FY16. Cliffs is maintaining its FY14 full-year sales and production volume expectation of 22M-23M tons from its U.S. Iron Ore business. Cliffs' FY14 U.S. Iron Ore cash-cost-per-ton expectation is $65-$70. The company said that this extension would require very limited capital.
News For CLF;MT From The Last 14 Days
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September 15, 2014
11:00 EDTMTArcelorMittal, Gerdau sell Gallatin Steel facility for $770M
ArcelorMittal (MT) and Gerdau (GGB) jointly announced that they have entered into a definitive transaction agreement to sell their respective 50% interests in Gallatin Steel to Nucor (NUE) for a total cash consideration of $770M, subject to customary closing adjustments. Completion of the sale is subject to customary closing conditions, including expiration of the Hart Scott Rodino Antitrust Improvements Act waiting period. The closing of the transaction is not subject to any financing conditions and is expected to be realized by the end of 2014. Reference Link
September 10, 2014
10:00 EDTMTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: African Barrick Gold (ABGLY) upgraded to Neutral from Sell at Goldman... ArcelorMittal (MT) upgraded to Overweight from Underweight at Barclays... CRH Plc. (CRH) upgraded to Outperform from Underperform at Raymond James... Callon Petroleum (CPE) upgraded to Buy from Neutral at SunTrust... Coach (COH) upgraded to Overweight from Neutral at Atlantic Equities... Hartford Financial (HIG) upgraded to Outperform from Market Perform at FBR Capital... Huntsman (HUN) upgraded to Buy from Neutral at Citigroup... Imperva (IMPV) upgraded to Outperform from Perform at Oppenheimer... L Brands (LB) upgraded at Credit Suisse... Marcus (MCS) upgraded to Buy from Neutral at B. Riley... Noodles & Company (NDLS) upgraded to Buy from Neutral at UBS... Sunoco Logistics (SXL) upgraded to Overweight from Equal Weight at Barclays... Triangle Petroleum (TPLM) upgraded to Buy from Accumulate at KLR Group... Twitter (TWTR) upgraded to Buy from Neutral at UBS.
08:08 EDTCLFCliffs Natural amends credit facilty to allow for $200M share repurchase program
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05:29 EDTMTArcelorMittal upgraded to Overweight from Underweight at Barclays
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September 9, 2014
10:10 EDTMTOn the Fly: Analyst Upgrade Summary
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05:23 EDTMTArcelorMittal upgraded to Outperform from Neutral at Credit Suisse
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September 7, 2014
12:59 EDTCLFIron ore giants keep up production amid falling prices, WSJ says
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September 4, 2014
11:35 EDTCLFStocks with call strike movement; CLF YHOO
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September 3, 2014
12:32 EDTCLFCliffs Natural hires banks to sell assets, WSJ reports
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12:25 EDTCLFCliffs Natural up 4% after WSJ says banks hired to sell assets
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12:24 EDTCLFCliffs Natural hires banks to sell U.S. coal assets, WSJ reports
September 2, 2014
11:43 EDTCLFAnglo American open to takeover proposals, CEO says, WSJ reports
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10:46 EDTCLFAnglo American CEO sees iron-ore prices under pressure, WSJ says
The CEO of miner Anglo American (AAUKY) Mark Cutifani said he is worried about the outlook for iron-ore, says the Wall Street Journal. In spite of concerns about an iron-ore glut, the company intends to press on with the Minas-Rio iron-ore project in Brazil , added the Wall Street Journal. Publicly traded companies in the space include Vale (VALE),Cliffs Natural Resources (CLF), Rio Tinto (RIO), and BHP Billiton (BHP). Reference Link

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