Cleveland-Cliffs (CLF) reported 3rd Quarter September 2020 earnings of $0.04 per share on revenue of $1.6 billion. The consensus estimate was a loss of $0.18 per share on revenue of $1.6 billion. The Earnings Whisper number was for a loss of $0.09 per share. Revenue grew 196.3% on a year-over-year basis.
Cliffs Natural Resources Inc is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota.
but it wasn't (fully) priced in we were on an insane rally, Dow up 400 points, then Congress had to come out and say that the stimulus was failing. This is what caused the downturn - not the vaccine being rolled out
Caleb Torres
if you are an incel now you will never have sex because corona and it's variants.
COPE
Owen Brooks
>have fucking sex incel
Parker White
I feel way better when Im not invested in anything but now that Ive fucked around with stocks only having money in the bank seems like a waste.
Benjamin Adams
MCD looking like a good buy. Pissed I didn’t buy more at $207 before the analyst upgrades
Bentley Ortiz
CLEVELAND--(BUSINESS WIRE)-- Cleveland-Cliffs Inc. (NYSE: CLF) today announced that it has successfully completed the acquisition of substantially all of the operations of ArcelorMittal USA LLC and its subsidiaries (“ArcelorMittal USA”), forming the largest flat-rolled steel producer in North America. On a full-year 2019 basis, the combined Company generated pro-forma revenues of approximately $17 billion and combined adjusted EBITDA of approximately $1.7 billion, including previously disclosed expected synergies.
In connection with the acquisition of ArcelorMittal USA, which includes the interests of ArcelorMittal USA of 60% in I/N Tek L.P. and 50% in I/N Kote L.P., Cleveland-Cliffs also acquired Nippon Steel Corporation’s remaining interests of 50% in I/N Kote and 40% in I/N Tek, for a total consideration of approximately $183 million. With this additional transaction, Cleveland-Cliffs becomes the sole owner of 100% of I/N Tek and I/N Kote, which generated a combined $121 million of adjusted EBITDA in 2019.
Lourenco Goncalves, Chairman, President and Chief Executive Officer said, “The acquisition by Cleveland-Cliffs of ArcelorMittal USA, boosted by our buyout of Nippon Steel from the I/N Tek and I/N Kote joint ventures, opens a new chapter in the history of the steel business in the United States. The assets we have acquired will be combined with our existing footprint, including AK Steel, Precision Partners, AK Tube, several mining and pelletizing facilities, our Research & Development Center, and the most modern Direct Reduction plant in the world, which we have just started to operate in Toledo, OH. Our new footprint expands our technological capability and enhances our operational flexibility, elevating Cleveland-Cliffs to a prominent role as a major player in supporting American manufacturing, American future investments in infrastructure, and the prosperity of the American people through good paying middle-class jobs.”
