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Stock Market & Financial Investment News

News Breaks
May 27, 2014
16:38 EDTCLFCliffs Natural reduces FY14 CapEx by additional $100M
Cliffs Natural announced that it is further reducing its expected FY14 capital spending range by approximately 25%, or $100M, to $275M-$325M. This significant reduction is in addition to the company's previously announced capital spending decrease of approximately 55%, or $460M, from Cliffs' FY13 capital expenditures. The $100M decrease will impact all of Cliffs' reporting segments, with Eastern Canadian Iron Ore and North American Coal making up 75% of the reduction. The company indicated that the lower full-year capital spending range of $275M-$325M is a sustainable level to support Cliffs' full-year production volume and cash cost expectations as well as safety and environmental obligations. The capital spending reduction is driven by the recent volatility in seaborne iron ore and metallurgical coal pricing. Cliffs indicated that it expects the pricing environment to remain volatile over the near term, which will directly impact the realized revenue in the majority of the company's business segments.
News For CLF From The Last 14 Days
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September 10, 2014
08:08 EDTCLFCliffs Natural amends credit facilty to allow for $200M share repurchase program
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September 7, 2014
12:59 EDTCLFIron ore giants keep up production amid falling prices, WSJ says
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September 4, 2014
11:35 EDTCLFStocks with call strike movement; CLF YHOO
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September 3, 2014
12:32 EDTCLFCliffs Natural hires banks to sell assets, WSJ reports
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12:25 EDTCLFCliffs Natural up 4% after WSJ says banks hired to sell assets
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12:24 EDTCLFCliffs Natural hires banks to sell U.S. coal assets, WSJ reports

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