Cleveland-Cliffs rises after posting smaller-than-expected Q2 loss

U.S. steelmaker Cleveland-Cliffs' CLF.N shares rise 2.9% to $9.76 premarket after Q2 results

CLF reports adj. net loss of $247 million, or $0.50/share vs analysts' estimates of $0.74/share - LSEG

Q2 revenue fell to $4.93 bln from $5.10 bln last year, but came in-line with analysts' estimates

"Domestic steel pricing remains strong, we have visibility into our cost reductions, and our order book remains healthy," - CEO Lourenco Goncalves

"We have started to see the positive impact that tariffs have on domestic manufacturing," he added

Nine of 14 brokerages rate the stock "hold"; their median PT is $8.75 - LSEG

YTD, CLF up 0.9% vs 7.1% rise in the benchmark S&P 500 index .SPX