Cliffs Natural spikes higher after Casablanca Capital urges spin off Casablanca Capital, which has a stake of approximately 5.2% in the company wants the company to spin off its international assets, double the annual dividend, cut costs, and convert U.S. assets into an MLP. Price is up 7.4% to $20.84. In a note Credit Suisse has suggested today's strength is a shorting opportunity. At current price, next resistance is at $21.90, the session high. Support is at $19.85.
Cliffs Natural finalizes energy agreement with We Energies in U.P. of Michigan Cliffs Natural (CLF) has finalized an interim power agreement with Wisconsin Energy's (WEC) utility energy segment We Energies for its Michigan operations. The company stated that this is "one key step in a series of contemplated short and long-term agreements that are essential to the viability of its iron ore mines in the Upper Peninsula".