• CEO of mining company tears into analysts during rant

    28 days ago - By Chron

    The CEO of a mining company exploded at Wall Street analysts on Friday, saying they don't know how to read financial reports and should quit their jobs.
    "You guys should resign for your lack of knowledge of things," said Lourenco Goncalves, the CEO of Cleveland-Cliffs Inc. "You are a disaster. You are an embarrassment to your parents."
    Goncalves directed much of his fury at a Goldman Sachs analyst whom he accused of "bad math" in calculating that the company's third-quarter earnings per share were less than expected.
    The rant drew unusual attention to Cleveland-Cliffs, which operates...
    Read more ...

     

  • 'You are messing with the wrong guy': The CEO of Cleveland-Cliffs eviscerates Goldman Sachs analyst and short sellers

    'You are messing with the wrong guy': The CEO of Cleveland-Cliffs eviscerates Goldman Sachs analyst and short sellers

    28 days ago - By Business Insider

    Cleveland-Cliffs CEO Lourenco Goncalves took time out of his company's third-quarter earnings call to attack a Goldman Sachs analyst and short sellers.
    It's not the first time Goncalves had a contentious moment with an analyst on an earnings call.
    Watch Cleveland-Cliffs stock trade in real time here .
    The CEO of the American iron-ore mining company Cleveland-Cliffs took time out from his company's third-quarter earnings call on Friday morning to attack an analyst from Goldman Sachs and short sellers.
    CEO Lourenco Goncalves stopped the call and said, "Matthew Korn, if you are in the call...
    Read more ...

     

  • CEO of mining company tears into analysts during rant

    28 days ago - By Chron

    CLEVELAND - The CEO of a mining company exploded at Wall Street analysts on Friday, saying they can't read financial reports and should resign.
    Lourenco Goncalves told analysts on a conference call that they didn't understand his company, Cleveland-Cliffs Inc., or even their own businesses.
    "You guys should resign for your lack of knowledge of things," the CEO said. "You are a disaster. You are an embarrassment to your parents."
    The rant earned Goncalves an invitation to appear later on CNBC, but Cleveland-Cliffs shares sank nearly 8 percent in afternoon trading.
    The call occurred after...
    Read more ...