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Stock Market & Financial Investment News

News Breaks
July 21, 2014
08:07 EDTCLFCliffs Natural urges vote in favor of seven Cliffs nominees
Cliffs Natural Resources issued an open letter to shareholders in connection with its upcoming 2014 Annual Meeting of Shareholders, stating in part: "Cliffs' July 29 Annual Meeting of Shareholders is right around the corner and you have an important and strategic choice to make regarding the composition of the Cliffs Board and the future direction of your company. Last week, Cliffs announced that we reduced our slate from nine to seven candidates in order to provide shareholders with a clear path to vote consistently with the recommendations of Institutional Shareholder Services and Glass Lewis & Co without inadvertently providing Casablanca Capital with a majority of the Board of Directors as a result of Cliffs' cumulative voting provision... Surrendering a majority of the Board will enable Casablanca to enact what we believe is a value-destructive plan, including a "fire sale" of Cliffs' assets at the bottom of the commodity cycle."
News For CLF From The Last 14 Days
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October 22, 2014
08:04 EDTCLFCliffs Natural short side risks have increased, says Credit Suisse
Credit Suisse said risks to the short trade in Cliffs Natural have increased. The analyst rates shares an Underperform with a $10 price target but is bullish into next weeks earnings report given the size of cost cutting efforts, that could be worth $300M in EBITDA, and likely to surprise investors. Longer-term, the Credit Suisse remains cautious on shares.
October 20, 2014
09:22 EDTCLFOn The Fly: Pre-market Movers
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06:15 EDTCLFCliffs Natural downgraded to Sell from Neutral at Citigroup
Citigroup downgraded Cliffs Natural to Sell saying the covenant breach and asset writedowns could force the company to cut or eliminate its dividend and stock buyback program. Citi also believes iron ore prices are unlikely to average well above $80/tonne over the next couple of years. The firm lowered its price target for Cliffs shares to $5 from $16.
October 17, 2014
16:01 EDTCLFOptions Update; October 17, 2014
iPath S&P 500 VIX Short-Term Futures down 1.75 to 38.58 Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX GILD CLF PBR according to Track Data.
09:17 EDTCLFOn The Fly: Pre-market Movers
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08:48 EDTCLFBofA/Merrill global steel analysts hold analyst/industry conference call
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06:09 EDTCLFCliffs Natural expects to record non-cash impairment of about $6B in Q3
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October 15, 2014
08:59 EDTCLFCliffs Natural price target lowered to $4 from $8 at BofA/Merrill
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October 14, 2014
17:56 EDTCLFCliffs Natural looks to sell Bloom Lake mine, Globe and Mail says
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07:21 EDTCLFCliffs Natural in pact with Casablanca on certain standstill, voting obligations
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October 13, 2014
10:08 EDTCLFOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Bankrate (RATE) downgraded to Equal Weight from Overweight at Stephens... CME Group (CME) downgraded to Market Perform from Outperform at Wells Fargo... Cliffs Natural (CLF) downgraded to Neutral from Overweight at JPMorgan... Dana Holding (DAN) downgraded to Sector Perform from Outperform at RBC Capital... Darden (DRI) downgraded to Neutral from Overweight at Piper Jaffray... Dover (DOV) downgraded to Neutral at RW Baird... DryShips (DRYS) downgraded to Underperform from Outperform at Imperial Capital... Infineon (IFNNY) downgraded to Neutral from Overweight at JPMorgan... J.C. Penney (JCP) downgraded to Sell from Neutral at UBS... Johnson Controls (JCI) downgraded to Outperform from Top Pick at RBC Capital... Juniper (JNPR) downgraded to Hold from Buy at Argus... Kennametal (KMT) downgraded to Market Perform from Outperform at Wells Fargo... Masco (MAS) downgraded to Equal Weight from Overweight at Barclays... New Gold (NGD) downgraded to Neutral from Overweight at JPMorgan... ON Semiconductor (ONNN) downgraded to Sector Perform from Outperform at Pacific Crest... PBF Energy (PBF) downgraded to Underweight from Equal Weight at Barclays... Parker-Hannifin (PH) downgraded to Market Perform from Outperform at Wells Fargo... STMicroelectronics (STM) downgraded to Neutral from Overweight at JPMorgan... Silicon Laboratories (SLAB) downgraded to Sector Perform at Pacific Crest... VOXX International (VOXX) downgraded to Market Perform from Outperform at Cowen.
09:39 EDTCLFActive equity options trading on open
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06:49 EDTCLFCliffs Natural downgraded to Neutral from Overweight at JPMorgan
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October 10, 2014
15:27 EDTCLFCliffs held preliminary talks on iron ore assets with Glencore, WSJ says
Glencore had talks that were described as "very preliminary" with Cliffs Natural Resources about its Australian iron ore assets, according to The Wall Street Journal, citing people familiar with the matter. Shares of Cliffs spiked higher following the first headlines from the report, but are now down about 1% in late afternoon trading. Reference Link
15:16 EDTCLFCliffs Natural held preliminary talks on iron ore assets with Glencore, DJ says
October 8, 2014
16:01 EDTCLFOptions Update; October 8, 2014
iPath S&P 500 VIX Short-Term Futures down 2.73 to 29.51. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX PBR AA CLF GILD according to Track Data.
14:53 EDTCLFCliffs Natural CEO says hasn't sold shares, no clock on non-core sales, WSJ says
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09:38 EDTCLFActive equity options trading on open
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06:01 EDTCLFCliffs Natural implied volatility of 99 at upper end of index mean range
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