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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

11/19/14

Stage Stores Inc. (SSI)

Stage Stores is trading in the green today, up 18.17% to $18.60. The specialty retail department store company saw its shares rally after better than expected earnings. For the third quarter, Stage Stores announced a loss of $5.3 million on revenue of $364.2 million (an EPS of negative $0.17). Analysts' were expecting the company to have a loss of $0.20 per share on revenue of $360.5 million. For the full year, management is forecasting earnings of $1.05 to $1.15 per share. Shares of Stage Stores popped nearly $3.00 today, but are still off of their 52-week high of $25.39.

Cliffs Natural Resources Inc. (CLF)

Cliffs Natural Resources is falling off a cliff today, down 18.95% to $8.28. The mining and natural resource company saw its shares plummet after announcing it was looking for exit options for its Eastern Canadian iron ore operations and possibly closing its Bloom Lake mine. Cliffs' management said that to develop phase II in the mine could cost $1.2 billion but to close the mine would cost $650-700 million over the next five years. The costs even to close the mine seem to worry investors as Cliffs only produces $237 million in free cash flow. Shares of Cliffs fell nearly $2.00 today and are treading close to their 52-week low of $7.00.
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