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Stock Market & Financial Investment News

News Breaks
May 29, 2014
17:27 EDTCLFCliffs Natural says ' stands ready to engage with Casablanca'
Cliffs Natural Resources issued the following statement in response to Casablanca Capital's press release earlier. The response said in part: "Cliffs' Board of Directors and management team are executing a plan to improve the company's financial and operating performance... Despite Casablanca's ownership of only approximately 5% of Cliffs' outstanding shares, we believe that they are continuing their effort to seek full control of the Board without providing a credible and clear path to increase long-term shareholder value or paying a control premium. With regard to Casablanca's "Proxy Put" accusation, in no way is Cliffs threatening its shareholders. On the contrary, it is Casablanca's actions that have put shareholders' interests at risk. The change of control provision within the senior note indenture that is in question has been publicly disclosed since Cliffs first issued public debt in March of 2010 and is standard for most companies with publicly issued debt..The Board will consider whether Casablanca's nominees should be approved for purposes of its senior notes indenture in due course should Casablanca continue to seek control of Cliffs' Board. Cliffs believes that its continued focus on reducing costs and capital spending in the current volatile pricing environment is in shareholders' best interests. Importantly, Casablanca is attempting to take credit for these actions that began last year, prior to Casablanca publicly disclosing its interest in Cliffs. In reality, many of Casablanca's proposals are either flawed, or have already been considered by Cliffs...Unfortunately, Casablanca seems intent on pursuing a costly and time consuming proxy contest, despite Cliffs' efforts to reach a settlement. To set the record straight, contrary to Casablanca's accusations, Cliffs has never reached an agreement in principle with Casablanca... Cliffs will continue to pursue a resolution, avoiding a costly and distracting proxy contest, to the benefit of all shareholders and stands ready to engage with Casablanca."
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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