CLF will have to show good profit for Q-3 like $025. Than may be some hope for stock to move up... 4 weeks to go for earnings to be out.
Both Blackberry and JCPenney turning around. Best Buy already did and someone will prolly buy Radio shack for penut. WLT is getting a little better. CLF can and will survive but they need to be out upfront to the media.
Hate to say but CLF has No support. They should only do business in this country where they have some leverage. Cant compete overseas in IO markets. Sell whatever they can get for INT assets, lower the debt whatever they can, and write it off rest as a bad investment and move on. Easier to manage being smaller and in domestic business and try to expand here.
I keep saying just sell every int asset at any price and just retain and expand us business .thats only hope for clf. Or sell the whole company.
How in the hell CASA gonna recover $25.50/sh their investment of 8 Mil shares? They ARE going to drive down the price more and then buy back more to lower their cost? Now I hate all these Hedge funds. They talked so sweet when they were blaming the old MNGT and wanted the control of the CLF Board . I say put the whole company up for sale. It has been already destroyed.
surf..you keep living in a dream world. No one is going to buy this POS. there is a huge glut of IO . May be buy at $15-$17. CASA should cut all cost by at least 50% and cut CAPEX by 90% and bring down IO cost to under $50 to compete and make money in this environment. and announce this to MEDIA.
Under $12 now.. Just like WLT did. Only way someone like BHP or Rio buy CLF will be for penetration in US markets ONLY and they can buy the whole company for less than $20/share. CASA should had immediately (within 2 weeks) sold off all INT assets after they took the control.
Ready to go under $12 and CASA blamed Kirsch? I have changed my mind. No faith in new MNGT any more. Cant just keep waiting for turnaround. Its going the way WLT Energy did.. just a matter of time.
This POS down every day 2% to 5 %. and how long can it last and Goncalves writes a great letter to its shareholders on the web site. I never thought I would say this.
Only reason for someone like BHP or RIO to buy CLF might be to get a foothold in the steel business in this country. They will likely NOT pay any more than $22-$25. Rio's Mkt Cap is some $73 B and BHP's MKT Val is $100 B. So to pay $4 B for CLF is nothing to them.
sugar.. Cliffs can make money every QTR if they just close down all INT operations until sold and cut all cost drastically and expand highly profitable US operations. This is what CASA was going to do they said if TAKE THE CONTROL OF THE COMPANY..you remember?.
Yearly est. for 2014 is minus $0.35. So CLF must make $0.20 in earnings in Q-3 and Q-4 to meet that
red.. CLF can still make good money if they shut down all unprofitable INT operations till SOLD , cut all cost to the bone.. that is CAPEX, work force and S,G&A and concentrate and expand profitable US operations..that simple !!.