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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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April 27, 2015
11:34 EDTFCXStocks with call strike movement; TWTR FCX
Twitter (TWTR) September 65 call option implied volatility increased 2% to 42, Freeport McMoRan (FCX) August 24 call option implied volatility increased 3% to 37 according to IVolatility.
April 23, 2015
10:47 EDTFCXFreeport McMoRan sees FY16 sales of copper 5.4B pounds, sales of gold 1.9M oz
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10:42 EDTFCXFreeport says IPO alternative for O&G business will highlight value
Provides alternative form of equity capital to fund O&G business. FCX says will maintain control and majority ownership of business. Possible timing for FCX O&G offering is late 2015 if market conditions are favorable. Other alternatives will continue to be assessed in the interim.
10:13 EDTFCXFreeport McMoRan optimistic for mid-term, long-term prospects for business
Comment from Q1 earnings conference call.
08:17 EDTFCXFreeport considering sale of minority equity stake in oil and gas unit
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08:05 EDTFCXFreeport McMoRan sees FY15 capex about $6.5B
Capital expenditures are expected to approximate $6.5B for the year 2015, including $2.5B for major projects at mining operations and $2.8B for oil and gas operations.
08:04 EDTFCXFreeport sees Q2 sales of copper 960M pounds, sales of gold 300K oz.
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08:03 EDTFCXFreeport sees FY15 sales of copper 4.2B pounds, sales of gold 1.3M oz.
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08:02 EDTFCXFreeport McMoRan reports Q1 adjusted EPS (6c), consensus (7c)
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April 22, 2015
15:50 EDTFCXNotable companies reporting before tomorrow's open
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13:31 EDTFCXEarnings Watch: Freeport McMoRan expects to sell 950M pounds of copper in Q1
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April 16, 2015
10:58 EDTFCXStocks with call strike movement; RIG FCX
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April 13, 2015
10:00 EDTFCXOn The Fly: Analyst Downgrade Summary
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10:00 EDTFCXOn The Fly: Analyst Upgrade Summary
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07:20 EDTFCXFreeport McMoRan downgraded at BofA/Merrill
As previously reported, BofA/Merrill downgraded Freeport McMoRan to Underperform from Neutral. The firm lowered Freeport McMoRan free cash flow estimates and price target to $19 from $22.50 following a reduction in copper and Brent oil price forecasts and said it does not expect a recovery until 2017 and the dispute over Grasberg remains an overhang.
07:06 EDTFCXFreeport McMoRan downgraded to Underperform from Neutral at BofA/Merrill
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06:11 EDTFCXFreeport McMoRan upgraded to Buy from Neutral at Citigroup
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