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Stock Market & Financial Investment News

News Breaks
August 5, 2014
09:02 EDTCLFCliffs Natural: 5 directors re-elected to board, will not contest results
Cliffs Natural Resources announced that, based upon the preliminary report of the Inspector of Elections, IVS Associates, Inc., five Cliffs’ directors have been re-elected to the Board – Mark E. Gaumond, Gary B. Halverson, Janice K. Henry, Richard K. Riederer and Timothy W. Sullivan. The preliminary report also indicates that they will be joined by six newly elected directors, Lourenco Goncalves, Robert P. Fisher, Jr., Joseph Rutkowski, James Sawyer, Gabriel Stoliar and Douglas Taylor. The Cliffs Board will not contest the preliminary voting results and, as such, these results will be final once certified by the inspector of elections. Cliffs issued the following statement: “Over the past several months, a number of different perspectives were conveyed and our shareholders had the chance to express their views on a variety of points. We appreciate the consideration and support of our shareholders, as well as the valuable insights they have offered our Board and management team throughout this process. We welcome our new directors to the Board and look forward to working with them."
News For CLF From The Last 14 Days
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July 6, 2015
12:09 EDTCLFIron ore slumps as China stockpiles recover, Bloomberg says
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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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