Dividend will NOT be eliminated. It may be reduced by 40% to conserve cash. Dividend will be still good and STX will eventually cut cost drastically by eliminating thousands of workers like HP did to bring earnings in line with sales and margins.
No solarman is NOT Oht. I knew Oht well here. Though we differ on our views drastically about CLF, atleast unlike solarman, he tried to make his point why he is bearish on CLF. solarman on the other hand is just a joke , trip and moron...as simple as that.
Q-2 IO shipment will be 3.5 Mil tons per LG and that leaves 12.1 mil tons to be shipped per LG in Q-3 and Q-4. Earnings will be much higher for these two QTRs if SB IO price remains around $60 a ton.
I love too see LG do just that and crush Shorts.But there are some Bog boys shorting including MS, BAC etc.
CLF will hold around $4.50 and move up again after the SP stabilizes. IO price going down and IO Futures on Dalian Exchange in a rampant speculation..
Luczo needs to cut cost drastically like HP has done. Meg Whitman fired several thousand employees after HP's bad earnings report. He will also need to cut dividend by 40% to have some cash left over. This is at least a $30 stock and will come back as markets improve.
Markets are tanking all over. This means FED Will NOT raise Rates when they meet in June. This will make dollar to back down and stocks will begin to rise again
This #$%$ sunk like a skunk today..down 11% to $4.65..well under $5.. Well, so much of it s glory. A couple of Upgrades...Thomas Reuters upped CLF from Negative to Neutral and Market Edge upgraded it from
Neutral to Long.
Doesn't matter earnings are earnings . If it was what you say, Analysts would not be surprised with Q-1 earnings and WS would NOT had pushed SP past $5... understand dude? Remaining QTRs earnings will be even better with sales of 15.9 mil tons of USIO and higher IO pellet price.