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Stock Market & Financial Investment News

News Breaks
July 18, 2014
10:05 EDTCLFCasablanca calls Cliffs Natural revised proxy 'desperate ploy'
Casablanca Capital, the beneficial owner of approximately 5.2% of Cliffs Natural Resources,issued the following statement on the latest Cliffs press release: “This is a desperate last-minute ploy by a self-interested Board that will stop at nothing to keep its seats, maintain the status quo and prevent real change in our view. We are confident shareholders understand that the only way to achieve meaningful change that will restore value is to vote on the GOLD proxy card as recommended by both leading proxy advisory services at the annual meeting of shareholders set for July 29.”
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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