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Stock Market & Financial Investment News

News Breaks
July 2, 2014
12:49 EDTCLFCasablanca says Cliffs Natural statement not 'genuine' attempt to settle
Casablanca Capital the beneficial owner of approximately 5.2% of Cliffs Natural Resources, issued the following statement on the latest Cliffs press release: “The press release issued by Cliffs before engaging with Casablanca’s principals is another public relations ruse by an incompetent and entrenched Board that has failed shareholders -- and in our view not a genuine attempt to reach a settlement that will create the fundamental change shareholders clearly want and deserve. We have no intention of negotiating through press releases but remain willing, as we have detailed in our public filings, to enter into a reasonable settlement that provides for real change. The current Board must be held accountable for wasting $9B on a disastrous diversification strategy and overseeing the destruction of 85% of shareholder value. Shareholders deserve better.”
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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