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Stock Market & Financial Investment News

News Breaks
July 23, 2014
10:40 EDTFCXFreeport McMoRan expects $4B-$5B in asset sales to accelerate debt reduction
Meanwhile, Freeport McMoRan expects to buy additional interest in deepwater Gulf of Mexico in hundreds of millions to add to the company's potential. The company says delays in obtaining approvals would result in monthly deferral of 50M lbs of copper and 80,000 ounces of gold. It sees positive global demand for the copper market, with China remaining solid. It sees the market will be helped by general economic recovery and Europe gradually strengthening from a low base. The supply side will create tightness, however, as more companies defer projects. The long-term fundamentals for copper, though, support a positive outlook. Expects first production at Lucius to be in 2H14 with a potential of more than 300 MMBoe gross resource potential. Expects first production at Heidelberg to be in mid-2016 with 200-400 MMBoe gross resource potential. Comments taken form Q2 earnings conference call.
News For FCX From The Last 14 Days
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May 14, 2015
16:00 EDTFCXOptions Update; May 14, 2015
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13:28 EDTFCXIncreasing equity options volume
Increasing equity options volume: FCX UPS KSS CHK CSCO AVP YOKU CALM KORS
10:14 EDTFCXFreeport McMoRan call activity attributed to takeover speculation
Freeport McMoRan May 23 and 23.5 calls are active on total call volume of 14K contracts (1K puts) on takeover speculation. May call option implied volatility is at 34, June is at 40, October is at 38; compared to its 26-week average of 40. Active option volume suggests traders taking positions for wide price movement.
10:05 EDTFCXRumor: Freeport McMoRan strength attributed to takeover speculation
The 3% move higher in shares of Freeport McMoRan is being attributed to speculation of a takeover.

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