Cleveland CliffsInc.analysts and lashed against traders as he said is to shorten the company's stock under a third quarter income…
analysts and lashed against traders as he said is to shorten the company’s stock under a third quarter income Friday.
Lourenco Goncalves, president, president and chief executive officer of the mining and resource company, called Goldman analyst Matthew Korn, who was not on the call, “a disaster.”
In an interview that followed the conversation, Goncalves said his Angry to Mr. Korn involved a research listing Goldman analyst published on Friday saying Cleveland-Cliff’s profit from continuing business was 4 cents of his estimates. Goncalves said the analyst used the incorrect number of diluted shares in his calculations.
Goldman Sachs left the note to The Wall Street Journal but refused to comment. Mr. Korn did not respond to a request for comment.
Mr. Goncalves said in an interview that he did not regret his actions.
“That’s how I am, and I will not change, “he said.
Even during the conversation, Goncalve’s trader, as he said, said to his company” children playing with computers and someone’s money ar. “He called them” parasites “during the interview.
“We will screw these guys so badly that I do not think they will only be able to leave. They will have to commit suicide,” he said during the conversation, according to the conference call from FactSet.
Mr. Goncalves erupted against card sales recall Tesla CEO Elon Musk’s commitment to “burn” short sellers after an analyst call in May. At the next revenue call in August, Mr. Musk apologized “to be disobedient in the previous call.”
The shares in the Cleveland-Cliffs tumbled so much as about 9% Friday but closed 3.75%. The company’s shares amount to more than 53% for the year.
For the quarter, Cleveland-based companies reported a net income of $ 438 million, or $ 1
.41 per share , up from $ 22 million or 18 cents per share, a year ago. Revenue increased to $ 742 million from $ 597 million last year.
Mr. Goncalves also said he was upset to pay attention The food has focused on its conference call comments instead of the company’s performance. “I was talking about bad maths,” he said.