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Stock Market & Financial Investment News

News Breaks
July 23, 2014
16:39 EDTCLFCliffs Natural reports Q2 EPS (1c), consensus (6c)
Reports Q2 revenue $1.1B, consensus $1.17B. Says lower revenues compared to prior year's second quarter were primarily driven by significantly decreased market pricing for iron ore and metallurgical coal, as well as a 24% decrease in sales volume from the company's U. S. Iron Ore operations. CEO Gary Halverson said, "We continue to take prudent and decisive actions to optimize the business in the face of continued commodity pricing pressures, which have created a challenging business climate for Cliffs and our industry. During the quarter, our team cut costs across the board and significantly reduced our capital expenditures, while enhancing our liquidity by successfully amending our revolving credit facility. We remain focused on controlling what we can control in a volatile environment, and are confident we have the right strategy to operate and extract value from our assets."
News For CLF From The Last 14 Days
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September 10, 2014
08:08 EDTCLFCliffs Natural amends credit facilty to allow for $200M share repurchase program
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September 7, 2014
12:59 EDTCLFIron ore giants keep up production amid falling prices, WSJ says
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