Cleveland-Cliffs CEO Lourenco Goncalves goes one-on-one with Jim Cramer
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2 hours ago
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Profit-taking hits some momentum stocks, and a dark cloud lifts over DuPont
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: Stocks were mixed for most of the session on Tuesday as second-quarter earnings season marched on. The S & P 500 turned slightly positive shortly after President Donald Trump said on Truth Social that the U.S. has reached a trade deal with the Philippines. As part of the agreement, the tariff rate on goods imported from the Philippines was reduced to 19% from 20% and U.S goods into the Philippines will not be subject to tariffs. Beyond the trade headlines, there's a counter-trend move happening underneath the surface that's taking some of the froth out, with profit-taking in many momentum growth stocks and buying of more value-oriented names. Called off: DuPont received positive news Tuesday after China's State Administration for Market Regulation said it suspended its antitrust investigation into DuPont China. The probe began in early April and was widely seen as retaliation for Trump's tariff escalation. When first announced, DuPont disclosed that the inquiry only concerned its Tyvek business, which generated $90 million in sales to China in 2024, representing less than 1% of the company's total sales. This is an immaterial amount, but it still caused the stock to sell-off sharply because the market was concerned about its broader implications. Specifically, the worry was that the investigation and China's retaliations would extend to DuPont's electronics business (now called Qnity), derailing the upcoming spinoff. But that's no longer the case, and it's a good thing to clear that overhang ahead of the breakup in November. DuPont has been a disappointment this year due to concerns about tariffs and its exposure to China, but shares have started to act better over the past few weeks. Tuesday's gains are putting it at its highest levels since March. The company has not announced when it will report its second-quarter earnings, but last Friday analysts at Deutsche Bank named it a "catalyst call" buy idea into the print. Up next: Club name Capital One Financial reports after the closing bell on Tuesday . We're expecting a noisy quarter due to the timing of the Discover deal, but we remain positive about the long term fundamentals. Its earnings report more generally will offer a look at the health of the U.S. consumer. Other companies reporting are Intuitive Surgical , SAP , Enphase Energy , Baker Hughes , Chubb , EQT Corporation , and Texas Instruments . Club name GE Vernova reports before the opening bell on Wednesday along with AT & T , Freeport-McMoRan , Thermo Fisher , Fiserv , Amphenol , Hasbro and Lamb Weston . (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Yahoo
3 hours ago
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Browns hire 8 new staff, promote 7 others on football staff
The business of football can be messy and, especially recently, is now basically a year-round, 24/7 process. A month before the start of training camp, on Thursday morning, the Cleveland Browns released DE Ogbo Okoronkwo after signing him in NFL free agency a couple of seasons ago. That move made way for K Andre Szmyt's return. The 365-day business of the NFL also involves changes throughout the organization. In April, we learned that the Browns would be losing Dan Saganey, their Director of Player Personnel, to the Tennessee Titans. Thursday, we learned about Cleveland making eight new hires and seven promotions, including replacing Saganey. Advertisement New Hires James Cook – Senior Director of Player Development Shaun Herock – Senior College Personnel Advisor Josh Meyer - Scouting Assistant Andrew Nimo-Sefah - Scouting Assistant Ryan Smith - Scouting Assistant Evan Stanislaw - Junior Software Developer John Michael Tran - Junior Software Developer Ethan Weissman – Football Research Analyst Herock worked for the Browns previously in the same role and has over 30 years of NFL experience. Smith Weissman were connected to the organization last year (external Film Analyst and intern) while Meyer (Michigan), Nimo-Sefash (Arizona Cardinals) and Stanislaw (Dallas Stars) have experience in professional sports. Tran 'participated in software engineer internships at NASA and Amazon,' according to the team's press release. Promotions Hajriz Aliu – Football Operations Assistant Adam Al-Khayyal – Director, Player Personnel Matt Donahoe – National Scout Tyler Habursky – Scout, NFS John Nussman – Area Scout (Midwest) Abby Protin– Senior Software Developer, Football Information Systems Jacqueline Roberts – Coordinator of Coaching Logistics You can learn more about all the Browns staffers listed above in the press release found here. More from
Yahoo
3 hours ago
- Yahoo
Cleveland-Cliffs Rides Cost Cuts And Trump Tariffs To Stronger Outlook, Eyes Billions From Asset Sales
Cleveland-Cliffs Inc. (NYSE:CLF) is gaining renewed confidence from Wall Street after posting better-than-expected results for the second quarter of 2025, prompting KeyBanc Capital Markets analyst Philip Gibbs to upgrade the stock to Overweight and set a price forecast of $14. The move reflects a more favorable risk-reward outlook for the steelmaker, which is capitalizing on robust domestic demand, aggressive cost-cutting, and strategic shifts amid a supportive policy environment. Cleveland-Cliffs reported a narrower second-quarter 2025 adjusted loss of $0.50 per share, beating expectations, with revenue of $4.93 billion. Also Read: Steel Dynamics Sees Q2 Rebound From Q1 But Still Trails Street Forecast Steel shipments reached a record 4.3 million net tons, though the average selling price declined. Cost-cutting efforts, including the idling of six facilities, reduced steel unit costs by $15 per ton. Adjusted EBITDA turned positive at $97 million. The company lowered its 2025 capital expenditure and SG&A guidance and expects further cost improvements in the second half. CEO Lourenco Goncalves emphasized strong domestic steel demand, a healthy order book, and policy support from the Trump administration. He noted that a loss-making slab supply deal will end soon, further supporting margins and accelerating free cash flow and debt reduction. Gibbs stated that the upgrade reflects his increased confidence in Cleveland-Cliffs' cost-cutting efforts and operational efficiencies, especially within its high-margin automotive segment. He also pointed to trade protections and reshoring trends as favorable tailwinds that position the company to gain market share. The analyst revised his 2025 outlook, narrowing projected losses due to improved margins and lower production costs. He now forecasts 2025 EBITDA of $419 million, more than double his previous estimate. For the third quarter of 2025, he raised EBITDA expectations to $197 million from $123 million, aided by an additional $20 per ton in cost savings. Looking ahead to 2026, Gibbs raised his EPS forecast to $0.42 and EBITDA to $1.86 billion, citing a stronger production base, contract repricing, and the elimination of a $250 million drag from the slab agreement with ArcelorMittal. If U.S. and Canadian steel prices outperform expectations, 2026 EBITDA could exceed $2 billion. According to Gibbs, valuation remains attractive, with shares trading at about 7x 2026 EV/EBITDA, within historical norms. The $14 price forecast reflects a multiple toward the higher end of that range, factoring in potential asset sales and upside from stronger steel pricing.
