Early Movers: Cliffs Natural Resources, Alcoa Inc, Autodesk
2013-03-27 12:10 ET - News Release
NEW YORK, March 27, 2013 -Bestdarnpennystocks.com, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on General Motors Company, Seagate Technology, Amarin Corporation plc.Cliffs Natural Resources Inc(NYSE:CLF) shares tumbled 14% to $18.38. Cliffs Natural Resources Exploration Inc. ("CNRE"), an affiliate of CLF announces that it has sold 1,540,000 common share purchase warrants (the "Warrants") of Zenyatta Ventures Ltd. ("Zenyatta"), representing approximately 3% of the issued and outstanding securities of Zenyatta on a partially diluted basis. The Warrants were sold by CNRE by way of a private purchase agreement.
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Additionally, the company, on Mar. 20, announced that its Board of Directors declared a quarterly cash dividend on the Company's 7.00% Series A Mandatory Convertible Preferred Stock, Class A ("Series A preferred stock"), of $13.6111 per share, which is equivalent to approximately 34 cents per depositary share, each representing 1/40th of a share of Series A preferred stock. The cash dividend will be payable on May 1, 2013 to shareholders of record as of the close of business on April 15, 2013.
Additionally, CLF’s stock had its target price trimmed by Goldman Sachs from $24.00 to $20.00 in a research note issued to investors on Mar. 19. The firm currently has a sell rating on the stock.
Alcoa Inc (NYSE:AA) shares declined 0.30% to $8.40 in the morning hour. The company will begin trading ex-dividend on March 13, 2013. A cash dividend payment of $0.9375 per share is scheduled to be paid on April 01,2013. Shareholders who purchased AA^ stock prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 53rd quarter that AA^ has paid the same dividend.
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Additionally, the company, on Mar. 21, said that Michelle Kiely and Frank Sewell, both of Knoxville, recently joined the Alcoa Community Advisory Board. The Alcoa Inc. Community Advisory Board assists Alcoa Inc.’sTennessee Operations and Knoxville offices in the prioritization of its Alcoa Foundation grants.
Meanwhile, Autodesk, Inc.(NASDAQ:ADSK) has appointed Tom Georgens, chief executive officer, president and director of NetApp, Inc., to its Board of Directors.
“We are pleased to welcome Tom Georgens to the Autodesk Board,” said the company’s president and CEO, Carl Bass. “Tom brings a wealth of experience and perspective in working with established technology companiesthat will serve the best interests of the company and our shareholders.”
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Georgens has served as CEO and president of NetApp since August 2009, and has been on its board since March 2008. He had earlier served as executive vice president and general manager of enterprise storage systems, executive vice president of product operations and chief operating officer. Before that he served LSI Corporation and its subsidiaries and also EMC Corporation.
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