Cleveland-Cliffs Jumps 10% After Q3 Earnings Beat 21-Cent Estimate
Updated
Updated · CNBC · Oct 19
Cleveland-Cliffs Jumps 10% After Q3 Earnings Beat 21-Cent Estimate
3 articles · Updated · CNBC · Oct 19
Summary
Cleveland-Cliffs rose more than 10% in premarket trading after posting adjusted third-quarter earnings of 28 cents a share, ahead of the 21-cent FactSet consensus.
The earnings beat drove the move, giving investors a positive catalyst days after pressure mounted over the company’s Canadian operations.
Canada last week threatened legal action over planned layoffs of hundreds of workers at Stelco, including a possible forced sale of Canadian assets.
Other premarket gainers included Intel, up nearly 4% on a JPMorgan upgrade, and Datadog, up 3% after Bernstein turned bullish.