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Stock Market & Financial Investment News

News Breaks
May 12, 2012
11:56 EDTMOS, FCX, NEM, DOW, DDChina announces cut in banks' reserve requirement ratio, Reuters says
China's central bank cut the amount of cash that banks must hold as reserves, banks' reserve requirement ratio, by 50 basis points, freeing up approximately $63.5B to help fend off a slowdown, says Reuters. Reference Link
News For FCX;DD;NEM;MOS;DOW From The Last 14 Days
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July 23, 2015
07:06 EDTDOWDow Chemical CEO says order loading remains strong
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07:05 EDTDOWDow Chemical reports Q2 operating EPS 91c, consensus 83c
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06:09 EDTDDColfax names Matthew Trerotola CEO
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July 22, 2015
16:27 EDTNEMNewmont Mining raises FY15 attributable gold production to 4.7M-5.1M ounces
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16:23 EDTNEMNewmont Mining reports Q2 adjusted EPS 26c, consensus 26c
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15:28 EDTDOWDow Chemical technical notes before earnings
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15:26 EDTDOWNotable companies reporting before tomorrow's open
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13:47 EDTFCXEarnings Watch: Morgan Stanley positive on Freeport-McMoRan ahead of Q2 results
Freeport-McMoRan (FCX) is expected to report second quarter earnings on Thursday, July 23, before the market open with a conference call scheduled for 10:00 am ET. Freeport-McMoRan is a natural resource company with an industry portfolio of mineral assets, oil and natural gas resources, and a production profile. EXPECTATIONS: Analysts are looking for earnings per share of 7c on revenue of $4.28B, according to First Call. The consensus range for EPS is (15c)-17c on revenue of $3.68B-$5.11B. LAST QUARTER: Freeport-McMoRan reported first quarter adjusted EPS of (6c) against estimates for (7c), on revenue of $4.15B against estimates for $4.06B. Consolidated sales for Q1 totaled 960M pounds of copper, 263K ounces of gold, 23M pounds of molybdenum and 12.5M barrels of oil equivalents, compared with 871M pounds of copper, 187K ounces of gold, 27M pounds of molybdenum and 16.1 MMBOE in Q1 of last year. Consolidated sales for 2015 are expected to approximate 4.2B pounds of copper, 1.3M ounces of gold, 95M pounds of molybdenum and 52.3 MMBOE. The company forecast FY16 sales of copper at 5.4B pounds and sales of gold at 1.9M oz. It sees FY17 sales of copper at 5B pounds and sales of gold at 2.4M oz. Capital expenditures are expected to approximate $6.5B for 2015, including $2.5B for major projects at mining operations and $2.8B for oil and gas operations. Freeport-McMoRan said it has taken actions to reduce or defer capital expenditures and other costs and is evaluating funding alternatives to advance growth projects in its oil and gas business, including consideration of a sale of public equity for a minority interest in its oil and gas subsidiary. On its Q1 conference call, management said they were optimistic for mid-term and long-term prospects for business. STREET RESEARCH: Sentiment on the Street leading up to Freeportís Q2 report has been positive. On April 28, Morgan Stanley upgraded Freeport-McMoRan to Overweight from Equal Weight with a $29 price target. The firm had reduced concerns about financing due to ramping volumes and cost declines. Morgan Stanley believed Freeport-McMoRan's copper growth projects were near an inflection point and production increases would drive a 28% volume increase at a lower cost and reduced capex. On June 9, Morgan Stanley said Freeport-McMoRanís valuation was attractive. The firm believed Freeport's Q1 was a multi-year trough for earnings and free cash flow. Morgan Stanley saw minimal execution risk at three key projects and expected costs to decline 22% in 2016. Morgan Stanley viewed Freeport's valuation as attractive and reiterated its Overweight rating and $29 price target. PRICE ACTION: Freeportís shares are down about 25% since the company's Q1 report and have plummeted more than 60% over the past twelve months. In afternoon trading ahead of Thursday's Q2 report, Freeportís shares are down about 4.7%.
July 21, 2015
10:31 EDTNEMOptions with increasing implied volatility
Options with increasing implied volatility: DUST JNUG LINE CHK CNX INSY ABX GG GDX NEM
05:48 EDTNEMStocks with implied volatility movement; NEM XME
Stocks with implied volatility movement; Newmont Mining (NEM) 50, SPDR Metals & Mining ETF (XME) 50 according to iVolatility.
July 20, 2015
13:10 EDTFCXFreeport McMoRan 30-day call volatility increases as gold pulls back
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12:08 EDTNEMOn The Fly: Top stock stories at midday
Stocks on Wall Street were slightly higher at midday in the first trading day of a week that will be light on domestic economic data but heavy on earnings reports. Investors will be receiving profit reports from about 25% of the companies on the S&P 500 this week, making this the highest volume earnings week of this season. ECONOMIC EVENTS: In the U.S., no major data was released. In Europe, Greece reopened its banks three weeks after closing as the country worked out another bailout agreement. The country announced it has started the process of paying off its creditors, including the European Central Bank and the International Monetary Fund, with a bridge loan it just received. COMPANY NEWS: Lockheed Martin (LMT) agreed to buy the Sikorsky Aircraft business from United Technologies (UTX) for $9B, noting the price is "effectively reduced" to $7.1B after taking into account tax benefits resulting from the transaction. Shares of Lockheed, which also reported better than expected second quarter results and increased its fiscal year guidance, gained nearly 2% after the Sikorsky announcement and saying it will conduct a strategic review of its government IT infrastructure services business and technical services business... Shares of Morgan Stanley (MS) shares were little changed near noon after the bank reported earnings and revenue, excluding certain adjustments, that topped analysts' consensus forecasts... SunEdison (SUNE) announced a deal to acquire Vivint Solar (VSLR) for approximately $2.2B, payable in a combination of cash, shares of SunEdison common stock and SunEdison convertible notes. In connection with the proposed acquisition of Vivint Solar, SunEdison has entered into a definitive purchase agreement with a subsidiary of TerraForm Power (TERP) which, concurrently with the completion of SunEdison's acquisition of Vivint, will acquire Vivint Solar's rooftop solar portfolio, consisting of 523 MW expected to be installed by year-end 2015, for $922M in cash. Shares of Vivint rose 44% following the announcement, while SunEdison's stock gained 4% and TerraForm dropped 3%. Fellow residential solar installer SolarCity (SCTY), which is backed by Tesla's (TSLA) Elon Musk, rose 7% following the deal in the space. MAJOR MOVERS: Among the notable gainers was Exelixis (EXEL), which rallied 43% after the company reported that a study of cabozantinib in metastatic renal cell carcinoma met its primary endpoint of significant improvement in progression-free survival. The shares were indicated to rise even more in early pre-market trading, but lost some of their gains after Bristol-Myers (BMY) announced that its Opdivo study was stopped early after showing superior overall survival in a Phase 3 study of previously treated patients with advanced or metastatic renal cell carcinoma. Bristol-Myers rose a bit less than 1% to trade near $70 per share after its own announcement. Also higher was PayPal (PYPL), which gained more than 5.5% in its first day of trading after being spun out of eBay (EBAY). Meanwhile, eBay shares rose over 2%. Cal-Maine Foods (CALM) dropped 8% after posting lower than expected sales and profits in its fourth quarter and warning that while it should have an adequate supply of its primary feed ingredients, the company expects that prices will be "volatile" in the year ahead. Also lower were shares of several gold miners, including Barrick Gold (ABX) and Newmont Mining (NEM), which each fell about 11%, as gold prices declined about 2% near midday. INDEXES: Near midday, the Dow was up 31.66, or 0.18%, to 18,118.11, the Nasdaq was up 9.81, or 0.19%, to 5,219.96, and the S&P 500 was up 2.82, or 0.13%, to 2,129.46.
10:00 EDTFCXFreeport McMoRan hits new 52-week low, levels to watch
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08:38 EDTNEMNewmont Mining July weekly volatility elevated into Q2 and outlook
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July 17, 2015
08:02 EDTDOWDow, Olin receive IRS letter ruling for proposed Chlor-Alkali, Derivatives deal
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July 16, 2015
08:33 EDTMOSPotash play for K+S linked to possible oversupply from 'Legacy' mine, FT says
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July 15, 2015
07:10 EDTFCXAccenture signs five-year contract with Freeport McMoRan
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July 13, 2015
11:41 EDTDDDuPont tests resistance, levels to watch
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08:26 EDTFCXMiners weighed on by heavy debt with metal prices declining, WSJ says
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07:08 EDTFCXEurasian Minerals files NI 43-101 Technical Report for Malmyzh property
Eurasian Minerals (EMXX) announced that the National Instrument 43-101 Standards of Disclosure for Mineral Projects technical report titled "NI 43-101 Technical Report on the Initial Mineral Resource Estimate for the Malmyzh Copper-Gold Project, Khabarovsk Krai, Russian Federation" dated July 10, has been filed. The Malmyzh exploration and mining licenses are held by a Joint Venture between IG Copper and Freeport-McMoRan Exploration (FCX), with IGC operating and managing the project. EMX is IGC's largest shareholder with 42.2% of the issued and outstanding shares resulting from investments totaling $7.8M.
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