Cleveland-Cliffs Celebrates the Start-Up of New $150 Million Stainless Bright Anneal Line at Coshocton Works in Ohio
To mark the opening, a ribbon cutting ceremony will be held on Wednesday, July 2 at 11:00 a.m. ET at Cliffs' Coshocton Works facility. The event will be attended by key elected officials along with Cleveland-Cliffs' executives, employees, and key customers.
Lourenco Goncalves, Cliffs' Chairman, President and CEO said: 'Since acquiring AK Steel in 2020, our stainless steel business has been the most consistent profit generating unit for Cleveland-Cliffs. This new line at Coshocton only enhances that, with an expected quick payback on this major investment. By using hydrogen and advanced automation, we're dramatically improving the quality and productivity of this critical product that our customers rely upon Cleveland-Cliffs for. As we embrace the new competitive landscape in the domestic steel industry, our profitability prospects are only getting stronger.'
About Cleveland-Cliffs Inc.
Cleveland-Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry. The Company is vertically integrated from the mining of iron ore, production of pellets and direct reduced iron, and processing of ferrous scrap through primary steelmaking and downstream finishing, stamping, tooling, and tubing. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 30,000 people across its operations in the United States and Canada. For more information, visit http://www.clevelandcliffs.com.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
18 minutes ago
- Yahoo
Mizuho's Top Analyst Sees Strong AI Upside in AMD Through 2025
July 3 - Mizuho Securities' top analyst Vijay Rakesh raised his price target on Advanced Micro Devices (NASDAQ:AMD) to $152 from $135, while maintaining a "Buy" rating. Rakesh pointed to robust AI traction and strong GPU demand as key drivers. He noted that AMD shares have climbed about 14% this year, including a roughly 60% surge over the past three months. Warning! GuruFocus has detected 3 Warning Signs with AMD. For the June quarter, Rakesh forecasts revenue of $7.40 billion but trimmed his EPS estimate to $0.47 from $0.68, slightly below the Street's $0.49. He left his full?year 2025 revenue outlook at $32 billion but cut EPS to $3.90 from $4.02. Looking further ahead, Rakesh lowered his 2026 EPS projection to $5.86 from $6.28, though this remains just above consensus of $5.81. He expects 2027 revenue to tick up modestly and kept EPS at $7.19. Rakesh highlighted the upcoming MI355X AI accelerator ramp in late 2025 as a potential catalyst. He also flagged ongoing software gaps that could limit AMD's ability to rival Nvidia (NVDA). Investors will watch whether AMD can translate AI momentum into sustained earnings growth. Based on the one year price targets offered by 40 analysts, the average target price for Advanced Micro Devices Inc is $132.14 with a high estimate of $200.00 and a low estimate of $95.00. The average target implies a downside of -4.19% from the current price of $137.91. Based on GuruFocus estimates, the estimated GF Value for Advanced Micro Devices Inc in one year is $167.94, suggesting a upside of +21.78% from the current price of $137.91. Gf value is Gurufocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. For deeper insights, visit the forecast page. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20 minutes ago
- Yahoo
Here's Why Night Watch Investment Management Sold Its Stake in Remitly (RELY) in Q2
Night Watch Investment Management, an investment management firm, released its second-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the second quarter, the fund LP appreciated by 23.31% net of fees, and YTD, its performance stood at 20.71%. The portfolio demonstrated resilience in the quarter, despite volatility in March and April. In addition, please check the fund's top five holdings to know its best picks in 2025. In its second-quarter 2025 investor letter, Night Watch Investment Management highlighted stocks such as Remitly Global, Inc. (NASDAQ:RELY). Remitly Global, Inc. (NASDAQ:RELY) offers digital financial services for immigrants, their families, and other citizens. The one-month return of Remitly Global, Inc. (NASDAQ:RELY) was -11.40%, and its shares gained 48.59% of their value over the last 52 weeks. On July 3, 2025, Remitly Global, Inc. (NASDAQ:RELY) stock closed at $18.50 per share, with a market capitalization of $3.771 billion. Night Watch Investment Management stated the following regarding Remitly Global, Inc. (NASDAQ:RELY) in its Q2 2025 investor letter: "We follow a diverse set of industries and are able to rapidly reposition in case an external factor such as politics changes the winners and the losers. The proposed tariffs, as well as the tax legislation that is currently being negotiated by the US Senate, will impact some industries and we have repositioned accordingly. A senior banker shaking hands with migrant customers in a corporate boardroom. Remitly Global, Inc. (NASDAQ:RELY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 46 hedge fund portfolios held Remitly Global, Inc. (NASDAQ:RELY) at the end of the first quarter, which was 35 in the previous quarter. The first quarter revenue of Remitly Global, Inc. (NASDAQ:RELY) increased 34% year-over-year to $361.6 million. While we acknowledge the potential of Remitly Global, Inc. (NASDAQ:RELY) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains. In another article, we covered Remitly Global, Inc. (NASDAQ:RELY) and shared the list of stocks expected to beat the market by 20 Percentage points this year. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. While we acknowledge the potential of RELY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20 minutes ago
- Yahoo
Intel's Chip Strategy Shifts Again: Time to Buy the Dip?
Intel (INTC), once a titan of semiconductor manufacturing, has undergone a series of transformations in recent years. From falling behind rivals such as Advanced Micro Devices (AMD) and Taiwan Semiconductor Manufacturing Company (TSM) to launching an ambitious foundry business, the company's roadmap has seen many ups and downs. Now that Intel is backing away from its aggressive 18A foundry push and focusing on its next-generation 14A node, the question is whether this is another misstep or a strategic reset for a comeback. UnitedHealth Stock Is One of the Worst-Performing S&P 500 Stocks in 2025. Should You Buy the Dip? AI Isn't Just About Nvidia: 2 Rising Stars in the Artificial Intelligence Race 'It's a Miracle': Nvidia CEO Says Their New Technology Takes 'AI Supercomputing to a Whole New Level' Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. While Intel shares are up 12.3% year to date, they have fallen nearly 40% from their 52-week high of $37.16, indicating a potential buying opportunity. Let's see if now is the right time to invest or sit on the sidelines. According to Reuters, Intel's newly appointed CEO, Lip-Bu Tan, is setting a new course for the company's troubled contract manufacturing division. According to the report, Tan is thinking about switching from the 18A manufacturing process to a newer generation process known as 14A. According to the report, the 14A process is a more mature node with higher cost efficiency and is expected to be competitive by late 2026. The decision could result in a write-down worth hundreds of millions of dollars. According to sources, Intel's board of directors may begin discussions as early as this month about potentially halting the external promotion of 18A. However, due to the financial and strategic complexities of the decision, a final verdict may not be issued until later this year. Intel, while declining to comment directly on the matter, reiterated in a statement that it is still committed to strengthening its roadmap, rebuilding customer trust, and improving its financial health. The shift from 18A to 14A is being framed as a strategic move to outperform TSMC, the dominant force in global chip manufacturing. In contrast, Intel believes the 14A process, which is still in development, will give it a performance and efficiency advantage over TSMC's upcoming N2 technology, making Intel's foundry business more appealing to industry heavyweights such as Apple (AAPL) and Nvidia (NVDA), which rely heavily on TSMC. The report also stated that the company must meet existing commitments, such as limited production of chips for Amazon (AMZN) and Microsoft (MSFT) using the 18A process. Additionally, Intel is still planning to use 18A for internal chip production. During the Q1 earnings call, management had stated that Panther Lake, which will be built on Intel's internal 18A node, is expected to ship its first SKU by the end of the year, with wider commercial availability in 2026. Intel reported $12.7 billion in first-quarter revenue, which was flat year-over-year. Adjusted earnings per share fell to $0.13 from $0.18 the previous year. Intel's Data Center and AI segment (DCAI) reported better-than-expected first-quarter results due to stronger-than-expected demand from a few hyperscalers. However, the company expects Q2 to be weaker sequentially due to normalization of one-time customer pull-ins and ongoing macroeconomic uncertainty. Intel Foundry Services (IFS) remains a long-term strategic bet, and management reiterated that progress will be gradual. CEO Lip-Bu Tan described the internal foundry development process as 'step-by-step,' emphasizing the importance of first establishing internal trust with Intel product groups. Tan's leadership is still in its early stages, but he has already begun to reshape the company's internal structure. This leaner organization is driving cost reductions. Intel intends to significantly reduce operating expenses over the next two years, aiming to save roughly $17 billion in 2025 and $16 billion in 2026. A complete shift away from selling 18A to foundry clients would be the most daring move of his career so far. It's a calculated risk. By focusing on a more advanced process, Intel hopes to reestablish its credibility in the foundry industry and position itself as a serious competitor to TSMC. Whether that gamble pays off depends not only on the successful rollout of 14A, but also on Intel's ability to deliver on time and re-establish trust with major clients. Intel will report its second-quarter earnings on July 24. We'll know more about this then. Analysts expect the company to report $11.88 billion in revenue, a 7.4% decrease year-over-year, and adjusted earnings of $0.01 per share, compared to $0.02 per share in Q2 2024. Analysts predict a 5.1% decrease in revenue to $50.4 billion for the year. Despite these ongoing efforts, the company continues to recover from a difficult period. Intel posted a staggering loss in 2024, its first unprofitable year since 1986. Analysts now expect the company to report a loss per share of $0.30 per share in 2025. Earnings are expected to rise by 153% in 2026, to $0.16 per share. Morgan Stanley analyst Joseph Moore maintains a 'Hold' rating, indicating that Intel's turnaround will take time and will likely be gradual. Moore stated that, while delays in foundry and AI initiatives until 2027 may positively redirect the company's focus, he remains cautious and has set a price target of $23. Overall, Wall Street rates INTC stock a 'Hold.' Of the 38 analysts covering the stock, one rates it a 'Strong Buy,' 32 rate it a 'Hold,' and five suggest a 'Strong Sell.' The stock is trading close to its average target price of $22.42. However, the Street-high estimate of $62 suggests the stock has upside potential of 182% over the next 12 months. On the date of publication, Sushree Mohanty did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
