Shares of Dr. Martens dropped nearly 12 percent on the London Stock Exchange on Tuesday after the company said its revenue is expected to be flat for the year. In the third quarter of fiscal 2026, Dr. Martens said group revenue fell 3.1 percent on a reported basis to 251 million pounds, with year-to-date revenue down 1.8 percent to 573 million pounds. More from WWD By channel, wholesale revenue was up 9.3 percent on a reported basis in Q3, with year-to-date revenue up 3.3 percent. As for DTC, revenue in ...

Core Insights - Cleveland-Cliffs Inc. is strategically shifting towards automotive-grade steel to strengthen its position in the automotive industry, supported by new contracts with original equipment manufacturers (OEMs) [1][6] - The company reported an earnings per share (EPS) of -$0.45, which was better than the estimated EPS of -$0.48, but faced a revenue shortfall of approximately $4.73 billion, slightly below the estimated $4.79 billion [2][6] - Cleveland-Cliffs is reducing capital expenditures to improve margins and revenue quality, with expectations of a cyclical recovery in steel prices and the conclusion of the ArcelorMittal slab supply contract providing potential upside [3][6] - The company is entering the rare earths mining sector, which has been positively received by the market, indicating a significant pivot in its business strategy and potential for growth and diversification [4][6] Financial Metrics - Cleveland-Cliffs has a price-to-earnings (P/E) ratio of -4.74, indicating negative earnings, and a price-to-sales ratio of 0.42, suggesting the stock is valued at 42 cents for every dollar of sales [5] - The debt-to-equity ratio stands at 1.28, indicating more debt than equity, while a current ratio of 2.04 reflects strong liquidity to cover short-term liabilities [5]