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Cleveland-Cliffs Inc - CLF STOCK NEWS

Welcome to our dedicated news page for Cleveland-Cliffs (Ticker: CLF), a resource for investors and traders seeking the latest updates and insights on Cleveland-Cliffs.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Cleveland-Cliffs's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Cleveland-Cliffs's position in the market.

News
Cleveland-Cliffs and the United Steelworkers Union Jointly Comment on the Tin Mill Products Final Report Released by the ITC
Rhea-AI Summary
The U.S. International Trade Commission issued a negative injury determination in the tin mill products trade case brought by Cleveland-Cliffs and USW, leading to the continuation of unfair trade practices. Lourenco Goncalves highlighted U.S. Steel's lack of cooperation as a key factor in the negative outcome, impacting the domestic industry and workers.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.46%
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News
Cleveland-Cliffs to Idle Weirton Tinplate Facility Following Unfavorable ITC Ruling
Rhea-AI Summary
Cleveland-Cliffs Inc. (NYSE: CLF) announces the indefinite idling of its tinplate production plant in Weirton, West Virginia due to the ITC's rejection of anti-dumping duties. Approximately 900 employees impacted with relocation opportunities or severance packages. Despite evidence of dumping and subsidization, the ITC's decision has led to this outcome. Cliffs maintains its 2024 sales volume guidance of 16.5 million tons.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.3%
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none
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News
Cleveland-Cliffs Reports Full-Year and Fourth-Quarter 2023 Results
Rhea-AI Summary
Cleveland-Cliffs Inc. (NYSE: CLF) reported full-year and fourth-quarter results for the period ended December 31, 2023. The company achieved revenues of $22.0 billion, record steel shipments of 16.4 million net tons, cash flow from operations of $2.3 billion, and free cash flow of $1.6 billion. The year-end net debt was $2.9 billion, and net pension and OPEB liabilities were reduced to $586 million. However, full-year 2023 consolidated revenues decreased compared to 2022, with a goodwill impairment charge totaling $125 million. Adjusted EBITDA was $1.9 billion, down from $3.2 billion in 2022. The fourth quarter of 2023 saw a net loss of $139 million, with adjusted net loss of $25 million. The company recorded cash flows from operations of $652 million and reduced net debt by approximately $500 million during the quarter. The outlook for 2024 includes expected steel shipment volumes of 16.5 million net tons and steel unit cost reductions of approximately $30 per net ton.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.56%
Tags
earnings
News
Cleveland-Cliffs Completes Successful Blast Furnace Hydrogen Injection Trial at Indiana Harbor #7 Blast Furnace
Rhea-AI Summary
Cleveland-Cliffs Inc. (NYSE: CLF) has completed a successful hydrogen injection trial at its Indiana Harbor #7 blast furnace, marking a significant achievement in their future GHG reduction efforts. The company is ahead of the curve in using cutting edge technology to decarbonize while maintaining efficiency and high-quality steel production. Cliffs' hydrogen gas supplier, Linde, played a critical role in the successful execution of this major trial.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.05%
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none
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News
Cleveland-Cliffs Applauds Department of Commerce’s Final Determinations on Antidumping and Countervailing Duties for Tin Mill Products
Rhea-AI Summary
Cleveland-Cliffs Inc. (NYSE: CLF) applauds the Department of Commerce’s Final Antidumping and Countervailing Determinations on tin mill products from several trade partners. The investigation found Canada, Germany, Korea, and China guilty of dumping tin mill products in the U.S. market. Cleveland-Cliffs will continue to work with the USW to advocate for an affirmative final injury determination by the International Trade Commission. Chairman, President & CEO, Lourenco Goncalves, expressed appreciation for the Department of Commerce's diligent investigation and emphasized the company's commitment to correcting unfair trade practices in the tin mill products industry.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
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News
Cleveland-Cliffs to Announce Full-Year and Fourth-Quarter 2023 Earnings Results on January 29 and Host Conference Call on January 30
Rhea-AI Summary
Cleveland-Cliffs Inc. (NYSE: CLF) will announce its full-year and fourth-quarter 2023 earnings results after the U.S. market close on Monday, January 29, 2024. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on Tuesday, January 30, 2024, at 8:30 am ET.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.37%
Tags
earnings
News
Cleveland-Cliffs Appoints Ron Bloom to its Board of Directors
Rhea-AI Summary
Cleveland-Cliffs (CLF) Appoints Renowned Private Equity Executive Ron Bloom to Its Board of Directors
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.66%
Tags
management
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News
Cleveland-Cliffs Announces Price Increase for Hot Rolled, Cold Rolled and Coated Steel Products
Rhea-AI Summary
Cleveland-Cliffs Inc. (NYSE: CLF) increases spot market base prices for carbon hot rolled, cold rolled, and coated steel products. The minimum base price for hot rolled steel is now $1,150 per net ton.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.66%
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none
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News
Cleveland-Cliffs Comments on Transformative Global Industry Consolidation and Updates Investors on Capital Allocation Priorities
Rhea-AI Summary
Cleveland-Cliffs Inc. (NYSE: CLF) issued a statement regarding the proposed acquisition of U.S. Steel by Nippon Steel. Lourenco Goncalves, Chairman, President, and CEO, identified U.S. Steel as undervalued, with significant synergy potential when combined with Cleveland-Cliffs, creating a union-friendly American champion among the top-10 steelmakers globally. Despite U.S. Steel's decision to go with a foreign buyer, Goncalves sees this as validation of the sector's undervaluation, with a multiple re-rating for Cleveland-Cliffs overdue. The company has reached its net debt target of $3.0 billion and plans aggressive share buybacks due to the undervaluation of CLF shares.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
9.63%
Tags
none
News
Cleveland-Cliffs is Featured in the U.S. Department of Energy Better Climate Challenge Road Show
Rhea-AI Summary
Cleveland-Cliffs (CLF) is featured in the U.S. Department of Energy's Better Climate Challenge Road Show series, showcasing its commitment to emissions reduction and decarbonization. The company's state-of-the-art Direct Reduction facility in Toledo, Ohio, is highlighted as a leader in the industry, producing environmentally friendly hot-briquetted iron (HBI) for steelmaking. Cleveland-Cliffs' recognition as a Greenhouse Gas Emissions Reduction 2023 Goal Achiever further solidifies its position as a leader in sustainability.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.8%
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none
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Cleveland-Cliffs Inc

NYSE:CLF

CLF Rankings

#791 Ranked by Market Cap
#807 Ranked by Stock Gains
N/A Ranked by Dividends

CLF Stock Data

10.29B
488.42M
1.63%
72.45%
6.56%
Iron Ore Mining
Mining, Quarrying, and Oil and Gas Extraction
Link
US
Cleveland

About CLF

arcelormittal usa is part of arcelormittal, the world’s leading steel and mining company. guided by a philosophy to produce safe, sustainable steel, we are a leading supplier of quality steel products in major north american markets including automotive, construction, pipe and tube, appliance, container and machinery. arcelormittal usa employs more than 20,000 people at 27 operations across 13 of the united states. we aim to give our employees every chance to flourish in their careers and grow as part of a global company. we offer a wealth of diverse opportunities. whether you work in production in pennsylvania or as a purchaser in indiana, joining arcelormittal is the start of a journey that, we hope, will lead to a rewarding career. we are always looking for the best and brightest minds to help us transform the future of steel.