The CEO of one iron company says he's boiling short sellers 'like frogs'

📆 7/19/2019 2:49 PM
📰 BusinessInsider

⏱ Reading Time:
37 sec. here
2 min. at publisher
📊 Quality Score:
News: 18%
Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

The CEO of iron ore producer Cleveland-Cliffs made the statement Friday after the company reported earnings that blew past analyst estimates.

thinks short sellers are in for a rude awakening if they continue to bet against him.

, surpassing analysts' consensus revenue estimate by 22%. The ore producer brought in $743 million and announced it repurchased 13 million shares over the three month period. It also topped Wall Streets' earnings per share estimates, beating the average expectation by about 20%. The odd statement isn't the first from Goncalves. He told a Wells Fargo analyst on a 2014 earnings call"you have a $4 price target and you think we can't sell assets, so I'm going to take the next question, I'm not going to answer you."when addressing analysts who set negative price targets. He told Goldman Sachs analyst Matthew Korn"you are a disaster. You are an embarrassment to your parents.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Netflix CEO says the 'streaming wars' are good for businessNetflix CEO Reed Hastings doesn't seem too worried about the influx of competitors into the streaming industry. Tomorrow there is no CNBC or u never know. Just not their business Gotta put a good spin on it somehow. Any way to keep the stock price from not plunging more.
Source: CNBC - 🏆 12. / 72 Read more »