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Stock Market & Financial Investment News

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April 8, 2013
09:03 EDTCLFJPMorgan analyst makes rare bullish call on Cliffs, Barron's reports
Cliffs Natural Resources (CLF), which has sold off sharply over the last year and had about 20% of its float sold short as of mid-March, was defended in a rare bullish note by JPMorgan analyst Michael Gambardella last week, Barron's reported. Note that in Gambardella's write-up, which was previously reported by The Fly on April 1, the analyst contended that the latest sell-off in Cliffs' shares has been overdone. Shares of Cliffs are up 1.9% in pre-market trading. Reference Link
News For CLF From The Last 14 Days
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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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