New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News For FCX;MMR;CVX From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
March 24, 2015
08:14 EDTFCXFreeport McMoRan down 2% in pre-market trading after company cuts dividend
Subscribe for More Information
08:06 EDTFCXFreeport McMoRan reduces quarterly dividend to 5c per share from 31.25c
Freeport-McMoRan announced that it has declared a cash dividend of 5c per share payable on May 1 to holders of record as of April 15 for its common stock. FCX’s board reduced the quarterly dividend from the previous rate of 31.25c per share in response to the impact of lower commodity prices. The board anticipates increasing cash returns to shareholders as market and business conditions warrant. “The reduction in the dividend is a prudent measure to strengthen our balance sheet during a period of volatile market conditions. As previously announced, our plans include significant reductions in capital spending and other costs and we are evaluating funding opportunities for capital expenditures in our oil and gas business. Additional capital cost reductions, potential additional divestitures or monetizations and other actions will be pursued as required," said the company.
08:04 EDTFCXFreeport McMoRan cuts dividend to 5c per share from 31.25c
March 23, 2015
10:03 EDTFCXFreeport McMoRan rallies, levels to watch
After nearing its 52-week low last week, shares have bounced and are now heading up to test overhead resistance. The first major obstacle is at the 50-day moving average, last at $19.54. Shares are currently at $19.13. A breakout above the 50-day would be bullish, with the potential to turn the long-running bearish trend in the stock to bullish. Support is at $18.52.
March 22, 2015
17:59 EDTCVXOPEC will not take sole responsibility for supporting oil price, Reuters says
Subscribe for More Information
15:23 EDTFCXFreeport operations at Grasberg resume as blockade ends, Reuters says
Freeport McMoRan has reopened an access road at its Grasberg mine in Indonesia that was blocked by a demonstration last week and says normal operations were being resumed at the mine, says Reuters. Reference Link
March 20, 2015
10:43 EDTFCXStocks with call strike movement; CHK FCX
Chesapeake (CHK) July 16 call option implied volatility increased 2% to 50, Freeport McMoRan (FCX) August 20 call option implied volatility decreased 6% to 47 according to IVolatility.
07:19 EDTCVXWhite House expected to unveil fracking rules today, WSJ says
Subscribe for More Information
06:37 EDTCVXOil prices fall again, Reuters reports
Subscribe for More Information
March 19, 2015
09:37 EDTCVXActive equity options trading on open
Subscribe for More Information
07:19 EDTCVXKuwaiti minister says OPEC can't cut oil production, Bloomberg reports
Subscribe for More Information
06:59 EDTFCXProduction at Freeport McMoRan mine in Indonesia halted, Reuters reports
Subscribe for More Information
March 18, 2015
11:03 EDTFCXStocks with call strike movement; NE FCX
Noble Corp. (NE) June 16 call option implied volatility increased 2% to 54, Freeport McMoRan (FCX) August 21 call option implied volatility increased 2% to 49 according to IVolatility.
09:56 EDTCVXRumor: BP strength attributed to takeover speculation
Subscribe for More Information
07:27 EDTFCXFreeport seeks funding from Blackstone, Apollo, Reuters says
Freeport McMoRan (FCX) has hired Goldman Sachs (GS) and Barclays (BCS) to find private equity firms willing to finance certain of its energy projects and asset developments, reports Reuters, citing people familiar with the matter. Freeport is in talks with Blackstone (BX), Apollo (APO), and Warburg Pincus about a potential partnership. The sources say the firm may be seeking "several billion dollars," though discussions are in "very early" stages. Reference Link
March 17, 2015
13:40 EDTFCXAmended settlement agreement announced between Credit Suisse, Freeport
On March 16, an Addendum to the Stipulation and Agreement of Settlement, Compromise and Release was entered into with respect to the consolidated stockholder derivative litigation captioned In Re: Freeport-McMoRan Copper & Gold (FCX) Derivative Litigation, C.A. No. 8145-VCN. The Addendum modifies the terms of the settlement in order to resolve potential derivative claims against Credit Suisse Securities (CS) in connection with its engagement to act as lead financial advisor to the Special Committee of the Board of Directors of Freeport-McMoRan with respect to the company’s 2013 acquisitions of Plains Exploration & Production Company and McMoRan Exploration Co., which potential claims were previously excluded from the settlement as set forth in the Stipulation and Agreement of Settlement, Compromise and Release filed on January 15. As set forth in the Addendum, the original settlement consideration will be increased by $16.25M, consisting of a $10M cash payment to the company by Credit Suisse, and a credit of $6.25M to be redeemable by the company in connection with future assignments Credit Suisse performs. The Supplemental Cash Amount, together with the original settlement amount, less plaintiffs’ attorneys’ fees and expenses as awarded by the Court of Chancery of the State of Delaware, will be distributed to the company’s stockholders as a special dividend. The settlement is subject to specified conditions, including final approval by the Court of Chancery of the State of Delaware. The settling defendants and Credit Suisse vigorously deny all allegations of wrongdoing or fault but entered into the settlement to avoid the costs and distraction of continued litigation.
March 16, 2015
17:07 EDTFCXCredit Suisse to pay Freeport McMoRan $10M to settle allegations, WSJ says
Subscribe for More Information
11:11 EDTCVXOPEC sees oil prices to hit U.S. oil output by late 2015, Reuters says
Subscribe for More Information
09:26 EDTCVXAtwood Oceanics Atwood Osprey to be out of service for 30 days due to cyclone
Atwood Oceanics (ATW) announced that its semisubmersible drilling unit, the Atwood Osprey, parted several mooring lines and drifted approximately three nautical miles from its original position during Cyclone Olwyn, which impacted the northwest coast of Australia on March 12. The rig is currently stable with a support vessel in position, and preliminary results indicate minimal damage with an estimated maximum of 30 days out of service time for repairs. No rig personnel were injured in the event. The Atwood Osprey is contracted to Chevron Australia (CVX) and was on location at the Iago 1B well. The well had been shut down and secured in accordance with Chevron's cyclone demobilization procedures and the rig had ballasted down and evacuated all its rig personnel in advance of the cyclone. Atwood Oceanics is coordinating its efforts with Chevron, the Australian offshore regulator and other affected parties.
08:06 EDTCVXCB&I awarded technology and FEED contracts for coker unit
Subscribe for More Information
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use