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Stock Market & Financial Investment News

News Breaks
July 1, 2014
18:50 EDTCLFCliffs Natural recommends shareholders support current board
Cliffs Natural Resources issued the following statement, "This late addition to the Casablanca Capital slate removes any doubt that Casablanca continues to try to acquire control of the Cliffs board of directors. Cliffs believes in shareholder representation on the board, but believes that handing over control of the board to a single minority shareholder with a short-term and value destructive agenda would put the company and all other shareholders at significant risk. We recommend that shareholders support Cliffs’ nine highly qualified and experienced director nominees, who are already executing a plan to enhance value for all shareholders."
News For CLF From The Last 14 Days
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July 7, 2015
11:11 EDTCLFIron ore bear market deepens as prices fall below $50 a ton, Bloomberg says
The bear market in iron ore is deepening as cheaper supplies from Australia and Brazil threaten to expand, says Bloomberg. Iron ore prices have dropped to below $50 a ton and have dropped more than 20% from June highs, added Bloomberg. Companies exposed to the iron ore market include Cliffs Natural (CLF), BHP Billiton (BHP) and Vale (VALE). Iron ore prices are also impacting the steel sector including U.S. Steel (X), Nucor (NUE), AK Steel (AKS) and Steel Dynamics (STLD). Reference Link
July 6, 2015
12:09 EDTCLFIron ore slumps as China stockpiles recover, Bloomberg says
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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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