Why Cleveland-Cliffs Rallied Today

Shares of Cleveland-Cliffs (CLF 6.38%) rallied 5.6% on Tuesday as of 2:26 p.m. ET.The U.S.-based steelmaker reported second-quarter earnings today, and while revenue and earnings were down relative to last year, both metrics actually beat expectations. Furthermore, CEO Lourenco Goncalves was optimistic that the recent increase in steel tariffs should soon benefit the company.Cleveland delivers a beat, though it has a ways to goIn the second quarter, Cleveland-Cliffs saw revenue decline by 3.1% to $4.9 billi ...