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Stock Market & Financial Investment News

News Breaks
February 13, 2013
10:24 EDTCLFCliffs Natural gaps down after dividend cut, share offering, levels to watch
The shares are down over 18.8% at time of writing following a major dividend cut to 15 cents per share versus the prior 62 cents per share. The company also filed to sell 9 million shares of common stock. Deutsche Bank, Citigroup, and Macquarie all downgraded the name on these actions. At the current price of $29.83, next support is at $29.16. Resistance is at $30.65.
News For CLF From The Last 14 Days
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July 6, 2015
12:09 EDTCLFIron ore slumps as China stockpiles recover, Bloomberg says
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June 30, 2015
14:34 EDTCLFIron ore producers slide after Australia cuts price target on the commodity
Shares of iron ore producers are falling after Reuters reported that Australia reduced its 2015 price forecast for iron ore to $54.40 a tonne from $60.40 a tonne. According to Reuters, Australia's current projection on iron ore prices is based on its view that China, the commodity's main market, will produce less steel in 2015 and 2016 as as the seaborne supply of iron ore increases. PRICE ACTION: Cliffs Natural Resources (CLF) is down over 10%, BHP Billiton (BHP) is lower by 2.3%, and Vale (VALE) is down 4% in afternoon trading. Steel stocks, including United States Steel (X), AK Steel Holding (AKS), and Nuco (NUE) are also sliding in afternoon trading.

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