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News Breaks
December 5, 2012
08:46 EDTMMR, FCXFreeport McMoRan acquires McMoRan Exploration for $3.4B in cash
Freeport McMoRan (FCX) said it has agreed to acquire McMoRan Exploration (MMR) for per-share consideration consisting of $14.75 in cash and 1.15 units of a royalty trust, which will hold a 5% overriding royalty interest in future production from MMR’s existing ultra-deep exploration properties. The cash consideration of $14.75 per share represents a premium of 74% to the MMR closing price on December 4. The cash portion of the transaction totals $2.1B, excluding payment for MMR interests currently held by FCX and PXP. The cash premium, excluding interests held by FCX and PXP, totals approximately $900M. The transaction is subject to the approval of the shareholders of MMR, including the approval of an amendment to MMR’s certificate of incorporation, receipt of regulatory approvals and customary closing conditions.
News For FCX;MMR From The Last 14 Days
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January 29, 2015
11:19 EDTFCXStocks with call strike movement; FXC THC
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January 28, 2015
09:59 EDTFCXOn The Fly: Analyst Downgrade Summary
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09:02 EDTFCXFreeport McMoRan downgraded to Hold from Buy at BB&T
07:13 EDTFCXFreeport McMoRan downgraded to Hold from Buy at Brean Capital
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January 27, 2015
10:11 EDTFCXFreeport McMoRan: Original 2016 debt reduction targets are no longer realistic
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10:09 EDTFCXFreeport McMoRan: Cerro Verde project on track for completion by end of 2015
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09:17 EDTFCXOn The Fly: Pre-market Movers
HIGHER: Silicon Image (SIMG), up 23% after signing agreement to be acquired by Lattice Semiconductor (LSCC)... USA Technologies (USAT), up 5% following nationwide roll-out of new Apple Pay points... TE Connectivity (TEL), up 3.9% following a Wall Street Journal report that the company is close to a deal with Commscope (COMM)... Select Comfort (SCSS), up 1% after being upgraded to Buy from Hold at Stifel. DOWN AFTER EARNINGS: Microsoft (MSFT), down 8.2%... Caterpillar (CAT), down 7.8%... Packaging Corp (PKG), down 8.3%... Peabody Energy (BTU), down 5.3%... Freeport-McMoRan (FCX), down 5.7%... Polaris Industries (PII), down 2.1%... United Technologies (UTX), down 2.3%... Procter & Gamble (PG), down 2.6%.
08:13 EDTFCXFreeport McMoRan says taking steps to reduce capital, costs entering 2015
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08:07 EDTFCXFreeport McMoRan sees Q1 copper sales 950M lb., gold sales 225K oz.
For Q1, Freeport sees consolidated sales of 950M pounds of copper, 225K ounces of gold, 23M pounds of molybdenum and 13.1 MMBOE.
08:06 EDTFCXFreeport McMoRan sees FY15 copper sales 4.3B lb., gold sales 1.3M oz.
Freeport McMoRan said consolidated sales for the year 2015 are expected to approximate 4.3B pounds of copper, 1.3M ounces of gold, 95M pounds of molybdenum and 55.5 million barrels of oil equivalents. Capital expenditures are expected to approximate $6.0B for the year 2015, including $2.5B for major projects at mining operations and $2.3B for oil and gas operations, reflecting a 34% decrease in oil and gas expenditures.
08:04 EDTFCXFreeport McMoRan reports Q4 adjusted EPS 25c, consensus 35c
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January 26, 2015
15:40 EDTFCXNotable companies reporting before tomorrow's open
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13:10 EDTFCXEarnings Preview: Freeport McMoRan sees Q4 oil/gas sales volumes 125 MBOE/day
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January 22, 2015
10:55 EDTFCXFreeport McMoRan to invest $17B in Indonesian expansion, Bloomberg says
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January 20, 2015
10:45 EDTFCXOptions with increasing implied volatility
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