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Cleveland-Cliffs Stock Sinks as Earnings Disappoint. Other Steel Makers Follow.

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Cleveland-Cliffs Stock Sinks After Disappointing Earnings | Barron’s


Cleveland-Cliffs

shares were in free fall after the steel producer reported far less in quarterly profits than Wall Street expected.

The company delivered 29 cents per share in earnings for the third quarter, compared with the 49 cents consensus among analysts tracked by


FactSet

Revenue of $5.65 billion was below the $5.78 billion Wall Street had penciled in. A year ago,


Cleveland-Cliffs

(ticker: CLF) delivered a profit of $2.33 per share on sales of $6 billion.

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