News Breaks |
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| January 24, 2013 |
| 08:11 EDT |  | CLF | Cliffs Natural to include non-cash impairment charges in Q4 results
Cliffs Natural announced that as a result of its goodwill impairment test conducted in the fourth quarter of 2012, the company has determined that approximately $1B of goodwill related to Cliffs' 2011 acquisition of Consolidated Thompson Iron Mines Limited is impaired. The goodwill impairment charge will be recorded as a non-cash expense for the year ended Dec. 31, 2012. The impairment is primarily driven by the project's anticipated lower long-term volumes and higher capital and operating costs. The previously announced delay of the Phase II expansion of the Bloom Lake mine also contributed to the impairment. Cliffs also indicated it expects to incur $100M-$150M of other charges related to its Eastern Canadian Iron Ore business segment. |
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News For CLF From The Last 14 Days Check below for free stories on CLF the last two weeks. |
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| June 19, 2013 |
| 14:20 EDT | | CLF | Cliffs says could scrap Bloom Lake expansion if iron price falls, Reuters says
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| 10:01 EDT |  | CLF | On The Fly: Analyst Downgrade Summary
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| 07:20 EDT | | CLF | Cliffs Natural downgraded at BofA/Merrill
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| 06:30 EDT | | CLF | Cliffs Natural downgraded to Underperform from Neutral at BofA/Merrill
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| June 17, 2013 |
| 12:03 EDT |  | CLF | Stocks with call strike movement; CLF FSLR
Cliffs Natural (CLF) August 20 call volatility increased 2% to 63, First Solar (FSLR) July 52.5 call option implied volatility decreased 2% to 65 according to IVolatility. |
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| 09:40 EDT | | CLF | Active equity option families trading on open
Active equity option families trading on open according to Track Data: AAPL NFLX GOOG CLF TSLA CRM. |
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| June 14, 2013 |
| 09:36 EDT | | CLF | Active equity option families trading on open
Active equity option families trading on open according to Track Data: AAPL ELN GOOG TSLA CLF NFLX |
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| 07:43 EDT |  | CLF | Cliffs Natural contract extension a positive, says JPMorgan
JPMorgan believes Cliffs Natural's contract extension with Essar Steel Algoma has positive implications for Cliffs' core Great Lakes market. The firm questions why Algoma would extend the contract if the region faced a flood of new iron ore supply and keeps an Overweight rating on shares of Cliffs. |
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| June 13, 2013 |
| 16:21 EDT | | CLF | Cliffs Natural extends iron ore pellet sales contract with Essar Steel Algoma
Cliffs Natural Resources announced that it has entered into an agreement with Essar Steel Algoma to extend the iron ore Pellet Sale and Purchase Agreement between the two companies to 2024. The previous agreement was expected to expire in 2016. The Agreement includes Essar's minimum volume iron ore pellet purchases from Cliffs beyond 2016 and pricing for 2013 through 2024. |
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| June 12, 2013 |
| 06:10 EDT | | CLF | Cliffs Natural temporarily suspends Chromite Project in Ontario
Cliffs Natural Resources announced that its affiliate, Cliffs Chromite Ontario, is temporarily suspending the environmental assessment activities for its Chromite Project in Ontario, Canada. The company indicated that its decision to temporarily suspend these activities is due to delays related to the environment assessment process, land surface rights, and negotiations with the Province of Ontario. The company cited that the following open issues are impeding the progress of the project's environmental assessment process, as well as the Feasibility Study evaluation: Delayed approval of the Terms of Reference for the provincial Environmental Assessment process. Uncertainty regarding the federal EA process due to the current judicial challenge by a number of the impacted First Nations. Unresolved land surface rights issues following a February 2013 Mining and Land Commissioner hearing. Unfinished agreements with the Government of Ontario that are critical to the project's economic viability. |
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| 06:04 EDT | | CLF | Cliffs Natural board director Francis McAllister retiring
Cliffs Natural lead director Francis McAllister has elected to retire from the company's board of directors effective immediately. Mr. McAllister has served on Cliffs' board since 1996. Mr. McAllister announced his retirement from Stillwater Mining as the company's CEO earlier this month. The board of directors has elected James F. Kirsch, former chairman, president and CEO of Ferro Corporation, to be its lead director coinciding with its July 2013 Board meeting. |
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| June 11, 2013 |
| 11:45 EDT | | CLF | Stocks with call strike movement; CLF NFLX
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| June 7, 2013 |
| 12:06 EDT | | CLF | Stocks with call strike movement; CLF JCP
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| June 6, 2013 |
| 12:24 EDT | | CLF | Stocks with call strike movement; CLF FSLR
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