Cliffs Natural Resources Inc (NYSE:CLF) down by 3.68%, Charles Schwab Corp (NYSE:SCHW)

Posted by Steve Raasch June 3, 2013 0 Comment 2524 views


Cliffs Natural Resources Inc (NYSE:CLF): Friday’s trading session saw Cliffs Natural Resources Inc (NYSE:CLF) dropping by 3.68%. It opened at a price of $18.60 which reached an intraday high of $18.84 before heading down to close at $18.04 per share. More than 16.50 million shares were traded in the last trading session. This was above the average volume of 12.39 million that was measured over a 30-day period.

Over the past few months, iron ore miners have been struggling as there has been a steady decline in prices of the commodity. The weakening economic climate in China and excess supplies has resulted in the 7-month low, drop in iron ore prices. That’s where the prices stood at, Thursday last and had dipped by approximately 30% since February. Currently the market is overflowing with product. There has been a pricing power shift from iron-ore miners over to steel mills. Cliffs Natural Resources Inc (NYSE:CLF) is a global mining and natural resources company. It produces iron ore and metallurgical coal. On 12 May 2011, Cliffs Natural Resources closed the acquisition of Consolidated Thompson Iron Mining Limited.

Charles Schwab Corp (NYSE:SCHW): Friday’s trading session saw Charles Schwab Corp (NYSE:SCHW) dropping by 1.49%. It opened at a price of $20.13 which reached an intraday high of $20.48 before heading down to close at $19.86 per share. More than 14.70 million shares were traded in the last trading session. This was above the average volume of 9.91 million that was measured over a 30-day period

SCHW is a savings and a loan-holding company. Via its subsidiaries, the company is involved in banking, securities brokerage and other financial services. It offers financial services to institutional and individual clients via two segments: Institutional Services and Investor Services. The Investor Services segment provides banking services and retail brokerage to individual investors. The Institutional Services segment offers custodial, support and trading services to various independent investment advisors.

Its business subsidiaries are Charles Schwab & Co. Inc, Charles Schwab Bank as well as Charles Schwab Investment Management, Inc. The latter is the investment-advisor for the company’s mutual funds. In 2011 November, Charles Schwab Corp (NYSE:SCHW) acquired Compliance11, Inc.


About Steve Raasch

Steve Raasch is a breaking news reporter for GDP insider. During his nearly two decades of editorial experience, Steve has covered a variety of topics including small business, health, personal finance, advertising, workplace issues and consumer behavior. Steve is very passionate about his work. Steve earned a master of arts degree in international relations from the Johns Hopkins University School of Advanced International Studies in Washington.

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