NEW YORK, NY / ACCESSWIRE / February 10, 2017 / U.S. markets spiked Thursday after comments made by President Trump signaled a plan for lower taxes. In a meeting with airline executives President Trump made a statement that an announcement would soon be coming that would be "phenomenal in terms of tax". The Dow Jones Industrial Average hit a new intraday record of 20,206.36 before settling to close at 20,172.40, up 0.59 percent, while the S&P 500 Index and the Nasdaq hit intraday records of 2,311.08 and 5,722.71, respectively.

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"We know there's volatility caused by the new administration, both positive and negative, but we think the pro-growth narrative put forth by the administration will be the dominant one," said Bob Browne, chief investment officer of Northern Trust. "We feel pretty comfortable that the market will grow into its current valuation levels."

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Cliffs Natural Resources' shares spiked 19.43 percent to close at $11.37 a share on Thursday. The stock traded between $9.95 and $11.70 on volume of 91.81 million shares traded. The company reported revenues were $754 million for the fourth quarter of 2016, an increase of 58 percent when compared to revenues of 476 million a year ago and above analysts' expectations by 78.8 million. Cliffs Natural Resources recorded a net income of $81 million in the quarter, compared to a net loss of $58 million a year ago. Cliffs expects full-year sales and production volumes of approximately 19 million long tons from its U.S. Iron Ore business in 2017, an increase of 4.3 percent when compared to 2016.

"We are excited about Cliffs and about our future. A much more favorable business environment in the U.S. and a newly adopted rational behavior in the international iron ore market support the work we have done internally in our company. With a much lower debt profile and extended maturities, and several new and more favorable commercial agreements that we put in place in 2016, we expect Cliffs to deliver strong and sustainable results in 2017," said Lourenco Goncalves, Chairman, President and CEO.

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Kellogg's shares gained 4.01 percent to close at $76.44 a share on Thursday. The stock traded between $74.59 and $76.69 on volume 3.65 million shares traded. The company reported sales were $3.10 billion for the fourth quarter of 2016, compared to $3.14 billion for the fourth quarter of 2015. Adjusted EPS was $0.92 per share for the fourth quarter of 2016. Kellogg's results topped consensus estimates of adjusted EPS of $0.85 per share and sales of $3.07 billion, according to FactSet. Kellogg forecast 2017 adjusted earnings per share of $3.91-$3.97, below consensus estimate of $3.97.

"Our fourth quarter earnings exceeded our expectations, as operating-profit margins continued to improve, and as we again showed sequential improvement in our sales performance," said John Bryant, Kellogg Company's chairman and chief executive officer. "We also have announced that we are exiting our direct store delivery system in U.S. Snacks, in order to redirect our resources in a way that can better market our brands to today's evolving shopper and retail channels. This will keep us firmly on our path to our 2018 operating profit margin expansion target and lead to better top-line performance."

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Today's Features Includes:

Cliffs Natural Resources Inc. (NYSE: CLF)

Kellogg Company (NYSE: K)

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