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Stock Market & Financial Investment News

News Breaks
July 29, 2014
12:32 EDTCLFCasablanca says all six nominees elected to Cliffs Natural board
Casablanca Capital LP, the beneficial owner of approximately 5.2% of Cliffs Natural Resources shares, announced that all six of Casablanca’s nominees have been elected to the Cliffs Board of Directors according to preliminary estimates by its proxy solicitor of the voting results at today’s Annual Meeting of Shareholders. Lourenco Goncalves, one of the Casablanca nominees who was elected, said on behalf of all the newly-elected Casablanca nominees, “The conclusion of this proxy contest marks not an end but a beginning. We look forward to working collaboratively with the continuing members of Cliffs’ Board and the Company’s hardworking, dedicated and talented employees to set Cliffs on a course to improve performance and restore shareholder value. Cliffs has tremendous inherent value and we are confident there is much we can and will do to refocus Cliffs and steer it in a new strategic direction.” In addition to Goncalves, the other Casablanca nominees newly-elected to the Board are Robert P. Fisher, Jr., Joseph Rutkowski, James Sawyer, Gabriel Stoliar, and Douglas Taylor. Subject to certification of the final results by the independent inspector of elections, the newly elected directors begin their terms immediately and will serve through the company's 2015 Annual Meeting of shareholders.
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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