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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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January 30, 2015
15:25 EDTCLFCliffs Natural February weekly volatility elevated at 131 into Q4
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January 29, 2015
10:06 EDTCLFCliffs Natural volatility elevated into Q4 and outlook
Cliffs Natural February weekly call option implied volatility is at 149, February is at 118, March is at 120, compared to its 26-week average of 80 according to Track Data, suggesting large price movement into the expected release of Q4 results on February 3.
January 27, 2015
13:14 EDTCLFCliffs Natural seeks CCAA protection for Bloom Lake mine
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13:12 EDTCLFCliffs Natural seeks CCAA protection for Bloom Lake mine
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12:55 EDTCLFCliffs Natural trading halted, pending news
06:01 EDTCLFCliffs Natural implied volatility of 109 at upper end of index mean range
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January 26, 2015
07:06 EDTCLFCliffs Natural announces debt reduction and elimination of quarterly dividend
Cliffs Natural Resources announced that during the Q4 of FY14 and the beginning of January 2015, the Company reduced its net debt balance by more than $400M. This accelerated debt reduction was achieved through the repayment of short-term debt as well as the repurchase of more than $200M aggregate principal amount of senior notes in the open market at an average discount of 34% to par, capturing a total discount of approximately $70M. The sources of funds to execute the accelerated debt reduction program were cash from operations generated during the Q4 of 2014 and net proceeds from the sale of Cliffs Logan County Coal. In addition, the Cliffs' Board of Directors has decided to eliminate the quarterly dividend of 15c per share on Cliffs' common shares. The decision is applicable to the Q1 and all subsequent quarters.
January 20, 2015
14:06 EDTCLFCitizens, Keysight identified as long positions by Einhorn
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13:24 EDTCLFGreenlight has new long positions in Citizens, Time Warner, Bloomberg says
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