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Stock Market & Financial Investment News

News Breaks
August 13, 2014
12:22 EDTCLF, RIO, BHP, VALEIron ore prices at lowest level in months, Business Spectator says
Iron ore prices have fallen to their lowest levels in months as investors become concerned over the strength of the Chinese economy, says Business Spectator. The latest move down in prices comes as oversupply continues and demand in China softens, added Business Spectator. Publicly traded companies in the space include Vale (VALE), BHP Billiton (BHP), Rio Tinto (RIO), and Cliffs Natural (CLF). Reference Link
News For VALE;BHP;RIO;CLF From The Last 14 Days
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February 10, 2016
05:15 EDTVALEStocks with implied volatility movement; MNKD VALE
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February 7, 2016
14:05 EDTCLFCliffs Natural reaches Bloom Lake settlements, will adopt governance changes
Cliffs Natural Resources announced it has reached agreements in principle to settle both the putative federal securities class action pending in the District Court for the Northern District of Ohio, and the combined shareholder derivative actions pending in the Court of Common Pleas of Cuyahoga County, Ohio. The lawsuits were based, among other things, on the alleged dissemination of false or misleading information by the previous management and previous board of directors regarding the company's former Bloom Lake mine in Canada. The settlements are subject to court approval, and will have "no impact" on the company's financial position or operations, Cliffs noted. The agreement in the securities action provides for a settlement payment to the class of $84M, the totality of which will be paid by the company's third party insurance carriers. Under the terms of the settlement for the derivative actions, the company has agreed to adopt a number of changes to its corporate governance policies, protocols and practices. In addition, the company's insurance carriers will pay $775,000 for plaintiff's attorneys' fees and costs.
February 5, 2016
06:42 EDTCLFCliffs Natural solvency concerns mounting, says Deutsche Bank
Deutsche Bank analyst Jorge Beristain says that while successful execution of the recently announced debt exchange offer could bring a short-term catalyst for shares of Cliffs Natural, it may not alter medium-term solvency concerns. Post the company's Q4 results, the analyst cut his price target for the shares to $1.00 from $1.50 on lower iron ore realizations. He believes solvency concerns are mounting and reiterates a Sell rating on Cliffs.
05:46 EDTBHPStocks with implied volatility movement; BHP MAT
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February 4, 2016
11:46 EDTBHPOptions with increasing put volume
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11:21 EDTRIO, BHPOptions with increasing call volume; FMC HST XME RIO BHP PAY DNDK BSX ALLY SWFT
February 2, 2016
06:43 EDTBHPBHP may lose 'solid A' status amid commodities rout, Bloomberg says
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February 1, 2016
16:24 EDTCLFMesabi Trust receives royalty report of iron ore product shipments from Cliffs
On January 29, the Trustees of Mesabi Trust (MSB) received the quarterly royalty report of iron ore product shipments from Silver Bay, Minnesota during the quarter ended December 31, 2015 from Cliffs Natural Resources (CLF), the parent company of Northshore Mining Company. As previously reported, on January 15, 2016, the Trustees declared a distribution of 5c per Unit of Beneficial Interest payable on February 20 to Mesabi Trust Unitholders of record at the close of business on January 30. As reported by Cliffs, based on shipments of iron ore products by Northshore during the three months ended December 31, 2015, Mesabi Trust was credited with a base royalty of $2.86M. Mesabi Trust also was credited with a bonus royalty in the amount of $271,153, based on the average sales price per ton of iron ore pellets and the volume of shipments by Northshore during the fourth calendar quarter of 2015. Royalties paid to Mesabi Trust, however, reflected a reduction of $797,170 as a result of negative pricing adjustments to base and bonus royalty calculations related to changes in price estimates made in the previous calendar quarters of 2015. Accordingly, the total royalty payments received on January 29, 2016 by Mesabi Trust from Northshore were $2.42M. The royalties paid to Mesabi Trust are based on the volume of shipments of iron ore pellets for the quarter and the year to date, the pricing of iron ore product sales, and the percentage of iron ore pellet shipments from Mesabi Trust lands rather than from non-Mesabi Trust lands. In the fourth calendar quarter of 2015, Northshore credited Mesabi Trust with 981,102 tons of iron ore, as compared to 1,244,364 tons during Q4 of 2014.
05:15 EDTVALEStocks with implied volatility movement; VALE GPRO
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January 29, 2016
06:55 EDTVALEVale proposing 'zero' dividend this year to save cash, WSJ says
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January 28, 2016
17:20 EDTVALEVale board to consider zero dividend for 2016
Vale announced that, in compliance with its dividend policy and due to price volatility in mineral commodities, its executive board has approved and will submit to the board of directors a proposal for a minimum dividend equal to zero for 2016. "As the year progresses and we have more clarity on the market scenario, the board of directors may decide on the distribution of some remuneration to shareholders, provided that there is sufficient cash flow generation," the company said. In addition, in order to better align Vale's dividend policy with the current environment of commodity prices uncertainty, the executive board will submit to the board of directors a proposal to revise the current dividend policy. If approved by the board, the implementation of the proposal will be subject to approval at Vale's April shareholders meeting. Reference Link

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