| Steel Sector Wobbly On Weak Report From U.S. Steel | |
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Steel stocks were off Wednesday after United States Steel Corporation (NYSE: X) missed expectations by a wide margin and said difficult market conditions will continue to hurt results. The exchange-traded fund Market Vectors Steel (NYSE: SLX) slipped more than 3 percent, and recently traded at $35.17. U.S. Steel, which cut its outlook for full-year operating results by 36 percent Tuesday, changed hands recently down 10 percent to $24.03. The Pittsburgh-based steel maker posted an adjusted loss of $0.07 a share, versus expected EPS of $0.12. Also perhaps weighing on the sector: iron ore miner Cliffs Natural Resources Inc (NYSE: CLF) substantially missed expectations Tuesday, and was trading down recently 5 percent to $5.58. AK Steel Holding Corporation (NYSE: AKS) also missed first-quarter expectations Tuesday, by a 28 percent margin; AK shares traded down 3.6 percent Wednesday to $5.16. U. S. Steel Chief Executive Officer Mario Longhi said recent results reflect "extremely challenging market conditions" including lower prices which he blamed on imports as well as declining activity in the energy sector. See more from Benzinga © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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CLIFFS Natural Resources
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PRODUCER |
CODE : CLF |
ISIN : US18683K1016 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
CLIFFS Natural Res is a iron producing company based in United states of america. CLIFFS Natural Res produces iron, coal in Australia, in Brazil and in Canada, and holds various exploration projects in Canada. Its main assets in production are WABUSH MINE, EMPIRE AND TILDEN MINES, HIBBING TACONITE, NORTHSHORE MINE, UNITED TACONITE, OAK GROVE MINE, GREEN RIDGE MINE and PINNACLE MINE in Canada, AUSTRALIAN IRON ORE and SONOMA in Australia and AMAPA in Brazil and its main exploration properties are MT JACKSON J1 in Australia and DIAGNOS, WAWA, FREEWEST, MC FAULD'S LAKE, MACFADYEN, WAWA CLAIMS and BIG DADDY in Canada. CLIFFS Natural Res is listed in France, in Germany and in United States of America. Its market capitalisation is US$ 6.2 billions as of today (€ 5.8 billions). Its stock quote reached its highest recent level on May 16, 2008 at US$ 99.17, and its lowest recent point on January 15, 2016 at US$ 1.20. CLIFFS Natural Res has 297 400 968 shares outstanding. |