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Stock Market & Financial Investment News

News Breaks
February 27, 2014
09:08 EDTMT, CLFCliffs 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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August 31, 2015
07:31 EDTMTArcelorMittal Bremen renews partnership with CGI Group
ArcelorMittal Bremen, a subsidiary of ArcelorMittal (MT), has renewed its partnership with CGI. ArcelorMittal Bremen outsourced its IT to CGI five years ago, and, since then, CGI has managed the company's two data centers in Bremen, provided IT infrastructure support, and maintained all applications predominantly developed by ArcelorMittal Bremen, as well as other warehousing and automated production control systems. In addition, CGI provides field service support for approximately 2,000 Windows end-user systems. CGI's scope of activities for ArcelorMittal Bremen has expanded considerably over the course of the engagement. CGI was given, for example, responsibility for an additional 180 production control systems. In fact, the contract volume has doubled in size.
August 27, 2015
10:00 EDTMTOn The Fly: Analyst Initiation Summary
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08:48 EDTMTArcelorMittal initiated with a Neutral at JPMorgan
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August 25, 2015
06:44 EDTMTArcelorMittal finds success in Northern France plant, WSJ reports
ArcelorMittal (MT) has found improbable success investing heavily in Europe, particularly in rust belt Northern France, the Wall Street Journal reports. The company's most profitable business unit is located in Northern France, and the European Union is still the globe's most prestigious automotive market, where companies such as Audi (AUDVF) and BMW (BAMXY) make nearly a trillion dollars worth of cars a year, the report says, meaning higher demand for locally produced steel. Reference Link
August 21, 2015
10:02 EDTCLFOn The Fly: Analyst Initiation Summary
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08:22 EDTCLFCliffs Natural initiated with a Sell at Axiom
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