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Stock Market & Financial Investment News

News Breaks
February 24, 2014
04:55 EDTTC, TC, TC, AA, AA, AA, GG, GG, GG, SLW, SLW, SLW, RIO, RIO, RIO, IAG, IAG, IAG, KGC, KGC, KGC, GFI, GFI, GFI, FCX, FCX, FCX, CDE, CDE, CDE, PPP, PPP, PPP, AEM, AEM, AEMBMO Capital to hold a conference
23rd Annual Global Metals & Mining Conference is being held in Hollywood, Florida on February 23-26.
News For AEM;PPP;CDE;FCX;GFI;KGC;IAG;RIO;SLW;GG;AA;TC From The Last 14 Days
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January 26, 2016
10:15 EDTFCXFreeport says in 'active discusssions with a number of parties' on asset sales
Says facing "serious challenges" because of what's going on in marketplace, situation with balance sheet. Says taking situation "seriously." Says experiencing "worst scenarios" right now. Says board "fully engaged," "fully supportive of what we need to do." Says "immediately" addressing balance sheet issues. Says mining business "very profitable." Says to take immediate steps to reduce debt. Says in "active discussions with a number of parties" on potential asset sales. Comments taken from the Q4 earnings conference call. Freeport McMoRan is up 3.17% to $4.07 in morning trading.
10:01 EDTGFIHigh option volume stocks
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09:49 EDTFCXFreeport: Future CapEx spending dependent on improvement in market conditions
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09:15 EDTFCXOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Sprint (S), up 19.5%... Rambus (RMBS), up 8%... Freeport-McMoRan (FCX), up 11.3%... Sanmina (SANM), up 9.9%... Coach (COH), up 4.9%. ALSO HIGHER: Firstmerit (FMER), up 21.5% following the merger announcement with Huntington Bancshares (HBAN). DOWN AFTER EARNINGS: Polaris (PII), down 4.2%. ALSO LOWER: Huntington Bancshares, down 6.8% after announcing a merger with Firstmerit. Stratasys (SSYS), down 3.7% after being downgraded to Neutral from Overweight at JPMorgan.
08:13 EDTFCXFreeport McMoRan continues to evaluate alternatives for oil and gas business
Freeport McMoRan CEO Richard Adkerson said, "As we enter 2016, our clear and immediate objective is to restore FCX's balance sheet and position the company appropriately to enhance shareholder value in the current market environment. We are responding swiftly and decisively to achieve this objective." FCX will continue to focus on cost and capital management and cash flow generation from its operations under the current weak commodity price environment and is taking further immediate actions to accelerate its debt reduction plans and enhance shareholder value through pursuing asset sales and joint venture transactions. Several initiatives are currently being advanced, including an evaluation of alternatives for the oil and gas business as well as several transactions involving certain of its mining assets. FCX expects to achieve progress on these initiatives during the first half of 2016. "While we believe the physical copper market is essentially balanced, concerns about the global economy, and particularly the weakening of the Chinese economy, have dominated financial market sentiment and negatively impacted commodity prices, including copper. Oil prices have also weakened to multi-year lows in response to excess global supplies and economic conditions. Current market conditions and uncertainty about the timing of economic and price recovery require FCX to take further aggressive actions to strengthen its financial position, reduce debt and re-focus its portfolio of assets. FCX's strategy will focus on its global leading position in the copper industry. FCX will continue to manage its production activities, spending on capital projects and operations, and the administration of its business to enhance cash flows, and intends to complete significant asset sale transactions to reduce debt. FCX remains confident about the longer term outlook for copper prices based on the global demand and supply fundamentals. With its established reserves and large-scale current production base, its significant portfolio of undeveloped resources, and its global organization of highly qualified and dedicated workers and management, FCX is well positioned to generate significant asset sale proceeds while retaining an attractive portfolio of high-quality assets," the company said.
08:10 EDTFCXFreeport sees 2016 consolidated copper sales of 5.1B lbs, gold of 1.8M oz
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08:09 EDTFCXFreeport McMoRan announces additional initiatives to accelerate debt reduction
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08:04 EDTFCXFreeport reports Q4 consolidated copper sales of 1.15B lb, gold of 338K oz
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08:03 EDTFCXFreeport McMoRan reports Q4 adjusted EPS (2c), consensus (17c)
Reports Q4 revenue $3.8B, consensus $3.84B. Reports net charges totaling $4.1B, or $3.45 per share, for fourth-quarter 2015.
07:03 EDTSLW, CDE, PPP, IAGTD Securities to hold a conference
2016 TD Securities Mining Conference is being held in Toronto on January 26-27.
05:56 EDTFCXFreeport's copper export permit to end in Indonesia on Thursday, Reuters says
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January 25, 2016
14:29 EDTFCXNotable companies reporting before tomorrow's open
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12:00 EDTFCXEarnings Watch: Freeport-McMoRan shares down 68% since Q3 report
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11:14 EDTFCXStocks with call strike movement; FCX VXX
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09:32 EDTSLWApple Active equity options trading on open
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09:30 EDTAAElliott boosts activist stake in Alcoa to over 7%
Paul Singer's Elliott Associates boosted its activist stake in Alcoa to 7.4% from the 6.4% position the hedge fund reported on November 23. Elliott, in today's filing with the SEC, reiterated its belief that the spin-off transaction recently announced by Alcoa "will create value substantially above the current share price." The hedge fund seeks to "engage in a constructive dialogue" with the company's board and management regarding the transaction "as well as a number of other additional available opportunities to maximize shareholder value."
08:57 EDTFCXFreeport McMoRan volatility elevated into Q4 and outlook
Freeport McMoRan January weekly call option implied volatility is at 145, February is at 114; compared to its 52-week range of 35 to 134, suggesting large near term price movement into the expected release of Q4 results on January 26.
07:01 EDTPPPPrimero Mining expects a 10% all-in sustaining cost reduction in 2016
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06:58 EDTPPPPrimero Mining reports Q4 gold production 15% higher vs. last year
Primero Mining announces its preliminary Q4 and FY15 operating results. Highlights include: record production achieved In 2015: Q4 production of 68,155 gold equivalent ounces resulted in record annual 2015 production of 259,474 gold equivalent ounces, 15% higher than in 2014 and within the Company's 2015 production guidance range; 2015 consolidated total cash costs2,4 are expected to be $637 per gold equivalent ounce with preliminary all-in sustaining costs3,4 of $972 per gold ounce, below the Company's 2015 guidance range of $640-$680 per gold equivalent ounce for total cash costs and $1,030-$1,060 per gold ounce on an all-in sustaining cost basis. Preliminary all-in sustaining costs at the San Dimas mine were notably low at $680 per gold ounce, benefiting from high mill throughput rates well above the 2,500 tonnes per day nameplate capacity and increased by-product silver production versus 2014 due to the inclusion of the Jessica vein.
05:19 EDTFCXStocks with implied volatility movement; SWN SCTY
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