Cleveland-Cliffs Inc. reported preliminary fourth-quarter revenue of approximately $4.3 billion, slightly below the expected $4.38 billion, while also forecasting full-year 2024 revenue at about $19.2 billion, compared to an expectation of $19.3 billion. The company noted a significant decline in adjusted EBITDA, reporting a loss of $85 million against an expected gain of $75.4 million. In a separate development, Archer-Daniels-Midland (ADM) announced plans to lay off between 600 and 700 employees globally as it anticipates a third consecutive year of declining profits. The company aims to save between $500 million and $750 million through this cost-cutting initiative. ADM's fourth-quarter results showed an adjusted EPS of $1.14 and revenue of $21.5 billion, with a net income of $567 million. Additionally, ADM is raising its quarterly dividend by 2% despite the market challenges.