| (USD) | Dec 2023 | Q/Q |
|---|---|---|
| Revenue | 5.1B | -9% |
| Gross Profit | 168MM | - |
| Cost Of Revenue | 4.9B | -4% |
| Operating Income | -100MM | -131% |
| Operating Expenses | 268MM | - |
| Net Income | -155MM | -159% |
| G&A | 157MM | +9% |
| Amortization | 3MM | - |
Short Volume Ratio = Short Volume / All Volume. Source of Short Volume data comes from
FinraMoving Average Convergence/Divergence oscillator (MACD) is one of the simplest and most effective momentum indicators available.
Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. RSI oscillates between zero and 100. According to Wilder, RSI is considered overbought when above 70 and oversold when below 30.
Earnings disappointed, but looking under the hood, the sell-off could be an opportunity.
Cleveland-Cliffs said President Biden would use the federal government’s regulatory process to block Japan’s Nippon Steel from purchasing U.S. Steel, fulfilling the president’s position that the company should remain domestically owned. Biden said in March that it was vital for U.S. Steel to remain an American-owned and operated company. The United Steelworkers union is opposed to the deal, and the union endorsed Biden’s reelection last month.
CLF earnings call for the period ending March 31, 2024.
↘️ **JetBlue (JBLU)**: Shares tumbled nearly 17% in early trading after the airline sliced its 2024 revenue forecast. The carrier cited elevated capacity in its key Latin America network. ↘️ **PepsiCo (PEP)**: The maker of Lay’s and Doritos posted sales that topped analysts' projections, but its earnings disappointed.
Steel producers Nucor and Cleveland-Cliffs both missed Wall Street’s first quarter estimates. The shares are down for different reasons, however.
Nucor and Cleveland-Cliffs earnings missed Q1 estimates. NUE sold off after guiding Q2 EPS lower. CLF fell too, despite a bigger stock buyback.
Company Announces $1.5 Billion Share Repurchase Program
Cleveland-Cliffs (CLF) delivered earnings and revenue surprises of -5.26% and 1.79%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
(Bloomberg) -- Cleveland-Cliffs Inc.’s top boss says buying back shares make more sense than takeovers — a view that underpins the US steelmaker’s decision to repurchase as much as $1.5 billion in stock.Most Read from BloombergRay Dalio’s Famous Trade Is Sputtering, Investors BailingTrump Has Only $6.8 Million for Legal Fees With Trial UnderwayZimbabwe’s ZiG Wipes Out 330% Stocks RallyRussians Transform Dubai as They Flee Putin’s War: Photo EssaySea Billionaire’s Wife to Buy Singapore Mansion fo
CLEVELAND, April 22, 2024--Cleveland-Cliffs Inc. (NYSE: CLF) today reported first-quarter results for the period ended March 31, 2024.