Cleveland-Cliffs (CLF) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
(Bloomberg) -- Cleveland-Cliffs Inc., a major customer of Norfolk Southern Corp., has backed activist investor Ancora Holdings Group in its effort to overhaul the board of the railway company.Most Read from BloombergMusk Leaves China With Tesla Driving Software Hurdles ClearedMusk Makes Surprise China Visit in Search of Tesla Revenue BoostElliott Built ‘Large’ Stake in Buffett-Favored Sumitomo, Source SaysYen Rebounds Strongly After First Slide Past 160 Since 1990Yen Watchers Ask When Japan Will
U.S. steelmaker Cleveland-Cliffs , a Norfolk Southern customer, has backed activist investor Ancora Holdings in its effort to have seven directors and a new chief executive officer installed at the railroad operator, Bloomberg News reported on Sunday. Cleveland-Cliffs CEO Lourenco Goncalves said in a letter to Ancora that the outcome of the proxy fight will have no impact on its customer or supplier relationship with Norfolk Southern, the report added.