Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Cleveland-Cliffs Stock Sank Today

TheMotleyFool

0 0

Cleveland-Cliffs (NYSE: CLF) stock is getting tossed into the scrap pile today. The steelmaker reported third-quarter earnings last night, and results came up short of expectations. Analysts expected the company to report a loss, but its adjusted loss of $0.33 per share was worse than expected.

Revenue also came up short, and investors knocked the stock lower by 9% as of 11:10 a.m. ET. Cliffs also announced that it closed the acquisition of Canadian steel company Stelco on Nov. 1.

With today's drop, Cliffs stock is down by 40% so far this year.

Source Fool.com

Like: 0

CLF

Share