Citigroup Inc. (NYSE:C) commented on Cliffs Natural Resources Inc.'s (NYSE:CLF) earnings today, targeting specifically the ongoing negotiations with ArcelorMittal (NYSE:MT).
Citigroup's Brian Yu wrote in a note that Citi sees negotiations between the companies "as a timing issue rather than an earnings risk."
Cliffs significantly missed on their third quarter operating earnings per share, which came in at $2.08, far below the $2.70 Citigroup was looking for. Earnings in general were reported at $2.18 a share.
Cliffs was trading at $64.24, up $0.87, or 1.37 percent as of 1:00 PM EDT.
No comments:
Post a Comment