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Stock Market & Financial Investment News

News Breaks
June 25, 2014
08:49 EDTRDC, FCXRowan Companies entered into contract with Freeport-McMoRan Oil and Gas
Rowan Companies (RDC) entered into a two-year contract with Freeport-McMoRan Oil & Gas LLC, a subsidiary of Freeport-McMoRan Copper & Gold (FCX), that will add approximately $425 million to Rowan's current contract backlog. The drillship is expected to be delivered at the end of March 2015 and operate in the U.S. Gulf of Mexico starting early third quarter 2015. It commenced operations at its Rowan Renaissance on April 22, experiencing 17 days off rate time during Q2. Rowan Companies reduced Q2 and Q3 off rate time at Rowan Viking by 23 days to 107 days for previously schedule inspections and equipment modification. It increased shipyard off rate time by 31 days in Q3 for Gorilla VI, and the rig is expected to return to service at the end of July.
News For RDC;FCX From The Last 14 Days
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September 11, 2014
08:39 EDTFCXFreeport McMoRan to purchase non-core assets from Quaterra for $5M
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September 3, 2014
14:41 EDTFCXFreeport McMoRan sells Kinetics Climax division for $55M
Dynacast International announced that Dynacast, a wholly-owned subsidiary of the company, entered into a definitive agreement to acquire 100% of the outstanding equity of Kinetics Climax. Kinetics is a wholly-owned subsidiary of Climax Engineered Materials, a Freeport-McMoRan Inc. company. Pursuant to the Stock Purchase Agreement, or SPA, executed on August 27, the purchase price payable to Climax upon closing of the acquisition is $55M less debt and transaction expenses and will be subject to a post-closing working capital adjustment. The SPA also provides for a cash earn-out payment, not to exceed $15M, based on the financial performance of Kinetics through December 31, 2015. The transaction, which is subject to customary closing conditions, is expected to close on or about September 30.
10:48 EDTRDCRowan repeats view for FY14 jack-up out of service time, capex
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September 2, 2014
10:02 EDTFCXOn The Fly: Analyst Downgrade Summary
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07:47 EDTFCXFreeport McMoRan downgraded to Equal Weight from Overweight at Morgan Stanley
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August 31, 2014
12:54 EDTRDCBarclays to hold a conference
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