Cleveland-Cliffs Inc. reported an extremely profitable second quarter Wednesday. For the three-month period that ended June 30, the company cleared $270.2 million — more than tripling what it earned during the second quarter of last year.
It bulldozed over estimates yet took a drop today, a probable result of profit-taking after the run up of the last three days heading into earnings.
A great time to buy considering that CLF's largest shareholder is raising a stink about a planned merger with ANR and is reportedly shopping around for offers of 130 dollars per share to sell CLF
$101.62 (07/28/08)
