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Cleveland-Cliffs Awarded by General Motors GM’s 2021 Supplier of the Year for Fifth Straight Year
Source: Business Wire
Cleveland-Cliffs Inc. (NYSE: CLF) was named a 2021 GM Supplier of the Year by General Motors at its 30th annual Supplier of the Year awards ceremony in Phoenix, Arizona, earlier this week. This is the fifth consecutive year Cleveland-Cliffs has received the award.
GM’s Supplier of the Year award recognizes global suppliers that distinguish themselves by exceeding GM’s requirements, in turn providing GM customers with innovative technologies and among the highest quality in the automotive industry. This year, GM recognized 134 suppliers from 16 countries with the Supplier of the Year distinction.
“This year’s Supplier of the Year event was special not only because it’s the 30th anniversary of the program, but because it provided us with the opportunity to recognize our suppliers for persevering through one of the most challenging years the industry has ever faced,” said Shilpan Amin, GM vice president, Global Purchasing and Supply Chain. “These top suppliers showed resilience and reinforced their commitment to pursuing sustainability and innovation. Through our strong relationships and collaboration, GM and our suppliers are poised to build a brighter future for generations to come.”
Lourenco Goncalves, Cleveland-Cliffs’ Chairman, President and Chief Executive Officer said, “Our position as the largest supplier of automotive steel in the United States is unquestionable, and our partnership with GM is an important piece of our leading market share. Unlike other US steel companies, we can supply any steel specs for all vehicles, and customers like GM have recognized this and given us the prominent position we have in their supply chain. We are proud to accept this award for the fifth year in a row.”
A global cross functional team selected the 2021 Supplier of the Year winners based on performance criteria in Product Purchasing, Global Purchasing and Manufacturing Services, Customer Care and Aftersales and Logistics.
About Cleveland-Cliffs Inc.
Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing. We are the largest supplier of steel to the automotive industry in North America and serve a diverse range of other markets due to our comprehensive offering of flat-rolled steel products. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 26,000 people across its operations in the United States and Canada.
About General Motors
General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which will power everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20220317005864/en/
MEDIA CONTACT:
Patricia Persico
Senior Director, Corporate Communications
(216) 694-5316
INVESTOR CONTACT:
James Kerr
Manager, Investor Relations
(216) 694-7719
Cleveland-Cliffs Inc. (NYSE:CLF) recently announced that it will indefinitely idle its Indiana Harbor #4 blast furnace (IH#4). This action is a result of the successful implementation of operational improvements, particularly the addition of significant amounts of HBI to the burden of blast furnaces and the maximization of scrap usage in BOFs. The employees allocated to IH#4 will be reassigned to other positions within Indiana Harbor Works, as the number of available job openings at the Indiana Harbor complex exceeds the amount of jobs associated with IH#4. The Company will continue normal operations of the entire Indiana Harbor Works, including its two steel shops, the hot strip mill and all its finishing facilities, as well as the nearby Riverdale Works. With both Indiana Harbor blast furnaces #3 and #4 now indefinitely idled, going forward, all downstream operations including Riverdale Works will be supplied exclusively by the Company’s flagship high-productivity IH#7 blast furnace.
Lourenco Goncalves, Cliffs’ Chairman, President and Chief Executive Officer said, “Our strategy of increasing productivity at our ironmaking and steelmaking facilities through the use of both in-house produced HBI and additional scrap has allowed us to reduce coke rate and consequently reduce CO2 emissions, as well as to stretch hot metal utilization and still be able to produce similar amounts of crude steel with fewer blast furnaces. Said another way, by concentrating the operation and maximizing productivity at IH#7 we are improving our carbon footprint and, at the same time, lowering our cost structure for the same level of steel production and shipments. Most importantly, as we have enough job openings on site for all impacted employees, we are now able to fill several available job openings at Indiana Harbor Works with the current workforce of IH#4.”
The chart shows 32% added to share values of the stock over the past month of action. Furthermore, the company has benefitted from a jump in recent trading volume to the tune of 20% beyond its prior sustained average level.
Cleveland-Cliffs Inc. (NYSE:CLF) has a significant war chest ($48M) of cash on the books, which must be weighed relative to about $3.6B in total current liabilities. One should also note that debt has been growing over recent quarters. CLF is pulling in trailing 12-month revenues of $20.4B. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 145.6%.
https://biopharmajournal.com/2022/03/17/the-commodity-stock-dip-shopping-list-x-vkin-clf-fcx-ccj-adm-bhp-aa/
LETTER TO OUR SHAREHOLDERS
March 14, 2022
Dear Fellow Cleveland-Cliffs Shareholders:
I am proud to report our 2021 results. As our financial reports indicate, we achieved all time annual records in revenues, net income, Adjusted EBITDA and free cash flow. More than that, we went from $2 billion in revenues in 2019 to $20.4 billion in revenues in 2021, and $525 million in Adjusted EBITDA in 2019 to $5.3 billion in Adjusted EBITDA in 2021. Very few companies in any business -- let alone companies in the steel business -- can report the growth we have had during the last couple years.
The steel industry consolidation that we led in 2020 allowed for the market conditions that generated these remarkable results. The cash we generated was reinvested in our business, as we de-levered our balance sheet, and reduced our diluted share count by 10%. On top of that, we also used the cash we generated to pay for the acquisition of Ferrous Processing and Trading Company (FPT), the leading prime scrap processor in North America. FPT is key to the execution of our strategy as it relates to the environment.
Talking about the environment, we continue to lower our usage of coke by increasing the utilization of hot briquetted iron (HBI) as a significant part of the burden in our blast furnaces. Our flagship Direct Reduction plant in Toledo is producing HBI that is now being exclusively used in-house within our blast furnaces. This plant was originally designed and built with the possibility of using up to 70% of hydrogen in the mix as reductant gas, and now we are moving ahead with plans to implement the usage of hydrogen in 2022.
Looking ahead, our massive presence as a supplier to the automotive industry is the key differentiator for us compared to other steelmakers. FPT has allowed us to reclaim back from our automotive clients, and from customers in other sectors as well, the scrap that is generated as the clients utilize our steel. As the biggest supplier of automotive OEMs in the United States, the vast majority of the steel used in making cars in the United States is coming from Cleveland-Cliffs. With FPT, we are now able to execute a closed-loop steel recycling strategy with our automotive clients. With that, we are actually helping these clients to effectively execute on their own environmental strategy.
As we look back on 2021, we could not have accomplished so much without the hard work and commitment of our 26,000 employees, approximately 20,000 represented by the USW, the UAW, the Machinists, and other unions. We appreciate the work of each one of our employees and the unions representing them.
We believe in manufacturing in the United States and in good paying middle class jobs. As a shareholder of Cleveland-Cliffs, I believe you do, too. On behalf of our employees, thank you for that.
Sincerely,
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Lourenco Goncalves
Chairman, President and Chief Executive Officer
Cleveland-Cliffs Revisited, 60+ Years Later A Coming-Half-Year Capital Gain Prospect https://seekingalpha.com/article/4495169-cleveland-cliffs-revisited-half-year-capital-gain-prospect?source=Messages
Marker Therapeutics to Present at Two Upcoming March Investor Conferences
Source: GlobeNewswire Inc.
Marker Therapeutics, Inc. (NASDAQ:MRKR), a clinical-stage immuno-oncology company specializing in the development of next-generation T cell-based immunotherapies for the treatment of hematological malignancies and solid tumor indications, today announced that Anthony H. Kim, Chief Financial Officer of Marker Therapeutics, will present at two upcoming investor conferences in March.
Conference Details
ROTH Annual Conference
Fireside Chat
Date: Monday, March 14, 2022
Time: 11:00 a.m. ET
Oppenheimer Virtual Annual Healthcare Conference
Presentation
Date: Thursday, March 17, 2022
Time: 10:40 a.m. ET
Webcasts of the presentations will be accessible in the Investors section of the Company’s website at markertherapeutics.com and will be available for replay following the events.
About Marker Therapeutics, Inc.
Marker Therapeutics, Inc. is a clinical-stage immuno-oncology company specializing in the development of next-generation T cell-based immunotherapies for the treatment of hematological malignancies and solid tumor indications. Marker’s cell therapy technology is based on the selective expansion of non-engineered, tumor-specific T cells that recognize tumor associated antigens (i.e. tumor targets) and kill tumor cells expressing those targets. This population of T cells is designed to attack multiple tumor targets following infusion into patients and to activate the patient’s immune system to produce broad spectrum anti-tumor activity. Because Marker does not genetically engineer its T cell therapies, we believe that our product candidates will be easier and less expensive to manufacture, with reduced toxicities, compared to current engineered CAR-T and TCR-based approaches, and may provide patients with meaningful clinical benefit. As a result, Marker believes its portfolio of T cell therapies has a compelling product profile, as compared to current gene-modified CAR-T and TCR-based therapies.
To receive future press releases via email, please visit: https://www.markertherapeutics.com/email-alerts.
Investors and Media Contacts
Marker Therapeutics:
Neda Safarzadeh
Vice President/Head of Investor Relations, PR & Marketing
(713) 400-6451
Investor.Relations@markertherapeutics.com
Solebury Trout:
Media
Amy Bonanno
Abonanno@soleburytrout.com
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Lineage Cell Therapeutics GAAP EPS of -$0.17 misses by $0.12, revenue of $1.2M beats by $0.56M
Source: Seeking Alpha
To read the full story on Seeking Alpha, click here.
Red-Hot Metal Stocks to Buy: Cleveland Cliffs (CLF)
Source: The thinkorswim® platform from TD Ameritrade
Ohio-based Cleveland Cliffs is a producer of iron ore and steel products. Its cheap share price and high volatility have made it a favorite pick for momentum traders looking for action. It boasts a beta of 2.07 and currently has an average true range of $1.25. That translates into 5% daily moves. Its price history reveals several boom and bust cycles.
In other words, instead of a steady climb over time, we’ve seen epic periods of gains followed by massive drawdowns. While a problematic stock to buy and hold, its personality is perfect for tactical traders. Though its share price has grown 10-fold from $2.63 at the pandemic lows and may seem richly priced, it’s previously been higher than $100. So there’s fare more upside if this inflationary cycle follows past ones.
Upside call options are in high demand, and it’s providing great pricing for call vertical spreads.
The Trade: Buy the April $26/$30 bull call spread for $1.15.
The max loss is $1.15, and the max gain is $3.85 if prices grow past $30
https://investorplace.com/2022/03/3-red-hot-metal-stocks-to-buy/
Steel Producer Cleveland-Cliffs Stock Sees RS Rating Jump To 91
INVESTOR'S BUSINESS DAILY and JULIE MAK
01:44 PM ET 03/01/2022
Cleveland-Cliffs (CLF) stock had its Relative Strength (RS) Rating upgraded from 88 to 91 Tuesday.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength. IBD's unique rating tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the market's biggest winners often have an RS Rating of at least 80 at the beginning of a new climb.
Looking For The Best Stocks To Buy And Watch? Start Here
Is Cleveland-Cliffs Stock A Buy?
The IBD 50 stock is trying to complete a double bottom with a 24.77 entry. See if it can clear the breakout price in volume at least 40% above average. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The steel producer showed 642% earnings growth in the latest quarterly report, while sales growth came in at 137%.
Cleveland-Cliffs stock holds the No. 6 rank among its peers in the Steel-Producers industry group. Nucor (NUE), Steel Dynamics (STLD) and United States Steel (X) are among the top 5 highly rated stocks within the group.
Oh. Sorry.
A lot of insider DIRECT buys today. These were not stock options or equity compensation shares either.
Cleveland-Cliffs Announces Indefinite Idle of Indiana Harbor #4 Blast Furnace and Notifies of Flat-Rolled Price Increase
Source: Business Wire
Cleveland-Cliffs Inc. announced today that it will indefinitely idle its Indiana Harbor #4 blast furnace (IH#4). This action is a result of the successful implementation of operational improvements, particularly the addition of significant amounts of HBI to the burden of blast furnaces and the maximization of scrap usage in BOFs. The employees allocated to IH#4 will be reassigned to other positions within Indiana Harbor Works, as the number of available job openings at the Indiana Harbor complex exceeds the amount of jobs associated with IH#4. The Company will continue normal operations of the entire Indiana Harbor Works, including its two steel shops, the hot strip mill and all its finishing facilities, as well as the nearby Riverdale Works. With both Indiana Harbor blast furnaces #3 and #4 now indefinitely idled, going forward, all downstream operations including Riverdale Works will be supplied exclusively by the Company’s flagship high-productivity IH#7 blast furnace.
The IH#4 furnace, which has a production capacity of 2.1 million net tons of hot metal per year, is expected to cease production within the next two months. This action will reduce the number of operational blast furnaces in Cliffs’ footprint from 8 to 7. The Company does not expect any change to full-year 2022 steel shipment volumes as a result of the indefinite idle of IH#4.
Separately, the Company will also notify its customers that, based on a stronger inflow of new orders, it is increasing current spot market base prices for all April orders of carbon hot rolled, cold rolled and coated steel products by a minimum of $50 per net ton.
Lourenco Goncalves, Cliffs’ Chairman, President and Chief Executive Officer said, “Our strategy of increasing productivity at our ironmaking and steelmaking facilities through the use of both in-house produced HBI and additional scrap has allowed us to reduce coke rate and consequently reduce CO2 emissions, as well as to stretch hot metal utilization and still be able to produce similar amounts of crude steel with fewer blast furnaces. Said another way, by concentrating the operation and maximizing productivity at IH#7 we are improving our carbon footprint and, at the same time, lowering our cost structure for the same level of steel production and shipments. Most importantly, as we have enough job openings on site for all impacted employees, we are now able to fill several available job openings at Indiana Harbor Works with the current workforce of IH#4.”
About Cleveland-Cliffs Inc.
Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing. We are the largest supplier of steel to the automotive industry in North America and serve a diverse range of other markets due to our comprehensive offering of flat-rolled steel products. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 26,000 people across its operations in the United States and Canada.
He's the writer of the article
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Other Developments to Consider
Meanwhile, there are other developments in progress. First of all, Rumble recently released its user-engagement statistics for December 2021 to January 2022. Prospective investors should be impressed with the data points:
19% growth in monthly active users
27% increase in minutes watched
14% rise in daily hours of uploaded video content
Second, Rumble is apparently expanding its business model. Specifically, the company has taken a stake in a payment-processing company called Parallel Economy.
According to the press release, Rumble will make Parallel Economy its preferred payment processor. Rumble CEO Chris Pavlovski emphasized not only the fiscal implications, but also the free-speech angle with the Parallel deal.
“With Parallel Economy, creators won’t have to worry about arbitrary cancellation. Giving creators financial security is a critical part of Rumble’s mission to protect a free and open Internet,” Pavlovski said.
The Bottom Line
Clearly, there’s a lot for investors to unpack when it comes to CFVI stock. Among other things, there are political and First Amendment issues to consider.
And even as Rogan turned down Rumble’s offer, there are other reasons to lean bullish, including the company’s impressive user-engagement stats and the deal with Parallel Economy.
Therefore, CFVI stock may be worthy of a small allocation, as long as you appreciate the risks involved.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Cleveland-Cliffs Reports Full-Year and Fourth-Quarter 2021 Results and Announces $1 Billion Share Repurchase Program
Cleveland-Cliffs Inc. has just added a news release to its website. For full details, please visit Cleveland-Cliffs’ website. Cleveland-Cliffs Reports Full-Year and Fourth-Quarter 2021 Results and Announces $1 Billion Share Repurchase Program Click here to read the news release Click here for a complete listing of Cleveland-Cliffs news releases. If you have any questions, contact Investor Relations at ir@clevelandcliffs.com . Cleveland-Cliffs Inc. 200 Public Square, Suite 3300, Cleveland, OH 44114 United
There will be other deals.
From previous post.
"In the larger picture view, we have an overhead target of $42 - $47 as the next major high to be seen. What we want to see in the near term is a completion of this current corrective pattern. Inside this correction, we have three plausible scenarios shown in Blue, Red and Green. The basic difference is how it finds its next pivotal low."
Should be over $100