Cleveland Cliffs

Cleveland-Cliffs opened sharply higher and traded on a single upward trajectory during the regular session, gaining approximately 17% as of ET 10:00, driven by better-than-expected Q2 results and an upbeat Q3 outlook. Q2 revenue of $5.226 billion exceeded the IBES estimate of $5.186 billion, with record adjusted EBITDA and progress on debt reduction. B. Riley Securities reiterated a Buy rating. The stock climbed from $9.45 in pre-market to $10.64, then extended gains to an intraday high of $11.214 on heavy volume. At $11.165, it now sits above the MA20 ($9.669) and near the MA60 ($11.142), though still 33.14% below its 52-week high of $16.70 and down 17.9% YTD. However, the company posted negative EPS for two consecutive quarters (Q1 2026: -$0.42; Q4 2025: -$0.44), leaving the sustainability of earnings improvement in question.

Cleveland-Cliffs staged a strong single-session rally during regular trading hours, hitting $9.88 by 09:59 ET, up 5.1% from the prior close of $9.40, after dipping to a pre-market low of $9.29. The stock opened at $9.46 and climbed steadily to $9.88, driven by recent analyst actions: Goldman Sachs initiated with a Hold, Wells Fargo reiterated Hold, while Morgan Stanley had earlier cut its rating on concerns that US steel prices are nearing a peak. Q1 revenue rose 6.33% YoY to $4.922 billion, with net loss narrowing 52.41% to $237 million, though EPS remained negative at -$0.42. The stock still trades 40.86% below its 52-week high of $16.70 and below both the MA20 ($10.78) and MA60 ($11.15), with a YTD decline of 27.37%. However, post-market quotes show the stock slipping back to $9.40, suggesting some late-day selling pressure.

Cleveland-Cliffs (CLF) experienced a sharp intraday decline on July 7, driven by analyst downgrades and steel price concerns. The stock briefly rose to $9.818 in pre-market trading but reversed to a single-day slide, hitting a low of $9.285, a 4.96% drop from the previous close of $9.770. Morgan Stanley cut its rating, citing steel prices nearing a peak, while Goldman Sachs issued a Hold rating. The company's Q1 revenue grew 6.33% YoY to $4.922 billion, but it remained in the red with an EPS of -$0.42 and a net profit margin of -4.82%. At $9.285, the stock is down 31.73% YTD, 44.4% below its 52-week high of $16.7, and well below its 20-day MA of $11.43 and 60-day MA of $11.132. However, post-market trading saw a rebound to $9.84, suggesting some buying interest.

Cleveland-Cliffs (CLF) posted a robust intraday performance, opening higher and rallying during the regular session from an initial print of $9.690 to an intraday high of $9.895, representing a gain of approximately 5.0%, well above its pre-market open of $9.570. The move follows a previous decline linked to analyst steel price cuts and insider share sales, which had driven the stock down 12.4%. Despite the strong push, the current price of $9.895 remains 40.75% below its 52-week high of $16.70, and year-to-date the stock is down 27.24%. It is trading well below both its 20-day MA ($11.877) and 60-day MA ($11.120), underscoring a still-weak technical position. On the fundamentals front, Q1 2026 revenue stood at $4.922 billion, up 6.33% YoY, while net loss narrowed 52.41% to $237 million, reflecting ongoing improvement in cost structure, though EPS remained at -$0.42.