Cliffs shares rally 11% in preopen trade

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NEW YORK (MarketWatch) -- Shares of Cliffs Natural Resources added 11% in Thursday's preopen trading a day after the iron-ore and coal mining company said that its fourth-quarter net income rose to $384 million, or $2.82 a share, from $108.2 million, or 82 cents a share, a year ago. Revenue jumped 74% to $1.42 billion. Analysts had estimated earnings of $2.82 a share on $1.43 billion in revenue.

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