Albany, New York (09/22/2014) – Cliffs Natural Resources Inc (NYSE:CLF) said that its CEO, Lourenco Goncalves, will receive annual base salary of $1.2 million. The company disclosed the base salary for the CEO in a SEC filing. Goncalves will also get a retention payment to the tune of $1.2 million. Cliffs Natural Resources Inc (NYSE:CLF) named Goncalves its new CEO and President after activist investor, Casablanca Capital, made a successful push reconstitute the Board of the $2.14 billion international mining company. Under the new management, Cliffs Natural Resources Inc (NYSE:CLF) announced plans to cut costs while also investing in its business, people and assets. The company recently announced $200 million repurchase program.
An increasing number of analysts are getting bullish on the prospects of E I Du Pont De Nemours And Co (NYSE:DD). Several analysts have commented on the stock in the recent past, giving it a consensus “buy” rating. CNBC’s Jim Cramer also recently discussed E I Du Pont De Nemours And Co (NYSE:DD) and cited that the agitations by activist investor, Nelson Peltz, have the potential of pushing the stock to the highs of $120 per share. Peltz is pushing for widespread changes in the $65.21 billion company, including splitting the company into segments to enhance shareholder value.
American Eagle Outfitters (NYSE:AEO) recently disclosed various strategies to boost its performance, and such include opening of new stores, boosting e-commerce activities and increasing inventory. It appears as though analysts are excited by such strategies because they have been generous with positive ratings on the $2.8 billion specialty retailer. Analysts at Goldman Sachs American Eagle Outfitters (NYSE:AEO) upgraded their rating on the stock to a “buy” and upped their target price by 33% to $16. At Jefferies, the analysts reiterated a “buy” rating on the stock of American Eagle Outfitters (NYSE:AEO) and issued a target price of $20.
It is reported that McDonald’s Corporation (NYSE:MCD)’s joint venture partner, Vikram Bakshi, wants to sell the 50% stake that he holds in the joint venture firm, Connaught Plaza Restaurants (CPRL) , people with insider knowledge disclosed. It is said that Bakshi might surrender his stake back to McDonald’s Corporation (NYSE:MCD) for Rs 2,500 crore, a move that is expected to end their legal dispute. CPRL runs McDonald’s Corporation (NYSE:MCD) stores in north and east India.