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Stock Market & Financial Investment News

News Breaks
February 14, 2014
08:08 EDTCLFCliffs Natural says 'disappointed' Casablanca intent on waging public campaign
Cliffs Natural Resources issued an open letter to all shareholders, stating in part: "As we do with any significant investor, Cliffs' Board of Directors and management team have attempted to maintain a constructive dialogue with Casablanca. In fact, Cliffs' Chairman along with senior management has met with Casablanca in person twice in addition to a number of telephone calls and emails. Also, one of the Company's financial advisors, along with members of senior management, participated in a discussion with Casablanca regarding its proposal and analysis of Cliffs. We are disappointed that Casablanca seems intent on waging a public campaign rather than continuing its private engagement with our Chairman and management to address our doubts and concerns relating to Casablanca's proposal...It is important to point out that Casablanca's letter, dated January 27, 2014, includes a number of incorrect assumptions and omissions that need to be corrected...When establishing the valuation of our assets, Casablanca has used companies with non-comparable business models to attempt to establish a market value for "Cliffs International." In fact, half of Casablanca's comparable set includes companies with different minerals, growth outlooks and production profiles...We believe that Cliffs' dividend should be increased only to the extent that it is sustainable and will not put the Company's operations at risk. Casablanca fails to demonstrate that either is the case in their proposal...The idea of an MLP structure of the U.S. assets is not new. In fact, the Company has been studying the feasibility of a potential MLP structure with its advisors for a number of months. The specific characteristics of the Company's U.S. Iron Ore business make implementing such a structure complex, with significant tax implications...We are confident that our plan will improve long-term financial and operating performance to create value for all shareholders. To the extent that Casablanca offers additional ideas that would enhance shareholder value, we stand ready and willing to continue to engage with them on a private basis."
News For CLF From The Last 14 Days
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April 15, 2015
12:52 EDTCLFStocks with call strike movement; WUBA CLF
58.com (WUBA) July 70 call option implied volatility decreased 4% to 56, Cliffs Natural (CLF) October 6 call option implied volatility decreased 2% to 68 according to IVolatility.
10:46 EDTCLFBofA/Merrill metals/mining/steel analysts hold analyst/industry conference call
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April 9, 2015
10:00 EDTCLFOn The Fly: Analyst Downgrade Summary
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09:27 EDTCLFOn The Fly: Pre-market Movers
HIGHER: Pier 1 Imports (PIR), up 5.8% after earnings beat estimates, dividend boosted, and shares upgraded at Wedbush... Novogen (NVGN) rose after announcing that Australian studies revealed its experimental drug, Anisina, killed melanoma cells irrespective of their mutational status. Shares of small-cap Novogen rose 35% in pre-market trading following the company's report on the studies... TASER (TASR), up 3.8% after announcing UK order from London for 178 AXON body cameras... United Continental (UAL), up 2.8% after narrowing Q1 PRASM forecast... Walgreens Boots Alliance (WBA), up 2.4% after reporting Q2 results. LOWER: Zynga (ZNGA), down 12% after announcing last night that current CEO Don Mattrick will depart the company and the board and Mark Pincus, Zynga's founder and chairman, will return to the role of CEO... Alcoa (AA), down 2% after reporting Q1 financial results and giving 2015 guidance... Cliffs Natural (CLF), down 4.6% after BMO Capital cut it rating to the equivalent of sell and halved its price target on the stock to $4.
08:42 EDTCLFVale cut to sell, target halved to $4.50 at BMO Capital
BMO Capital downgraded Vale (VALE) to Underperform, its sell rating equivalent, from Market Perform saying the iron ore oversupply is "not letting up." BMO points out that Vale's free cash flow is highly leveraged to the iron price. It cut its price target for shares in half to $4.50 from $9. BMO also lowered its iron ore forecast prices by 13%-20% for 2015-2018. The firm coupled the downgrade of Vale with a downgrade of Cliffs Natural (CLF) to Underperform.
08:36 EDTCLFCliffs Natural cut to sell, target halved to $4 at BMO Capital
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06:39 EDTCLFCliffs Natural downgraded to Underperform from Market Perform at BMO Capital
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April 8, 2015
09:08 EDTCLFCliffs Natural asks permission to put assets in Canada up for sale, CP says
Cliffs Natural Resources subsidiaries, which filed for creditor protection in January, are seeking permission to put the Bloom Lake mine, the Wabush Mine, and related port and rail assets up for sale next month, reported Canadian Press, citing a motion filed by monitor FTI Consulting Canada. Reference Link
April 7, 2015
11:28 EDTCLFStocks with call strike movement; CLF PBR
Cliffs Natural (CLF) October 6 call option implied volatility decreased 2% to 66, Petrobras (PBR) October 8 call option implied volatility decreased 2% to 61 according to IVolatility.

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