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Stock Market & Financial Investment News

News Breaks
June 10, 2014
15:31 EDTCLFCliffs Natural sees best interest served by nominating 9 to 11 member board
Cliffs Natural Resources filed its definitive proxy materials with the SEC in connection with its upcoming annual meeting of shareholders. Cliffs stated that, based on discussions with various shareholders, the board of directors currently believes that it is in the best interest of all Cliffs shareholders for the board to nominate a slate of nine directors for its eleven-person board. "As a result, by using the WHITE proxy card and voting as recommended by the Board, we believe that at least two of Casablanca's proposed nominees will be elected to the Cliffs Board, assuming that Casablanca continues its proxy contest," Cliffs said.
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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