New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 19, 2012
12:12 EDTPBR, VALEVale sells fertilizer plant to Petrobras
Earlier in a regulatory filing Vale (VALE) informs that it has signed with Petróleo Brasileiro (PBR) (Petrobras) an agreement to sell Araucária, operation for production of nitrogens, located in Araucária, in the Brazilian state of Paraná, for $234M. The purchase price will be paid by Petrobras through installments accrued quarterly, adjusted by 100% of the Brazilian interbank interest rate (CDI), in amounts equivalent to the royalties due by Vale related to the leasing of potash assets and mining rights of Taquari-Vassouras and of the Carnalita project.
News For VALE;PBR From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
August 28, 2015
17:34 EDTPBRPetrobras files automatic mixed securities shelf
Subscribe for More Information
August 27, 2015
12:38 EDTPBRPetrobras management tells board to postpone unit IPO, Reuters says
Subscribe for More Information
10:33 EDTVALEFreeport McMoRan surges after further cut to capital spending plans
Shares of Freeport-McMoRan (FCX) are surging in morning trading after the company announced plans to cut spending and production in response to current market conditions. It also plans to cut about 10% of employees and contractors at U.S. mining operations. WHAT'S NEW: Freeport-McMoRan this morning reduced its 2016 capital expenditure budget to $4B, approximately 29% lower than the $5.6B estimate on July 23, which it said reflects "aggressive" actions in response to current market conditions. The 2016 CapEx outlook includes $1.4B in mining projects, $600M in mining sustaining capital and $2B in oil and gas expenditures. The company said it will reduce copper sales by about 150M pounds per year in 2016 and 2017 and cut 2016 unit site production by 20%. Additionally, the company plans to reduce 2016 minerals exploration costs to $50M from $100M. Freeport also said it expects a 10% reduction in employees and contractors at U.S. mining operations. The company cited recent declines in copper prices for the reductions and said the actions announced today are the results of the previously announced review of operating plans for its mining business. Freeport said it views the long-term outlook for its business "positively," helped by limitations on copper supply. In the near-term, however, Freeport said it will continue to monitor market conditions and capital spending, but is currently "adjusting operations to maximize current cash flow under weak market conditions while preserving its large mineral resources and growth options for the longer term." WHAT'S NOTABLE: Since late 2014, Freeport has cut its 2015 capital expenditure budget to $6.3B from $7.5B, including reductions of $700M in oil and gas expenditures and $500M in mining expenditures. Earlier this month, Freeport cuts its oil and gas capital budgets for 2016 and 2017 by $900M each in response to market conditions and maintained its expectations for $2.8B in O&G CapEx for this year. In July, after reporting its second straight quarterly loss, Freeport said its cost reduction plans would include potential adjustments to mine plans and future copper and molybdenum production volumes to reduce costs and preserve valuable resources for anticipated improved market conditions in the future. Freeport previously commented that it would pursue additional capital cost reductions, potential additional divestitures or monetizations and other actions as required to maintain a strong balance sheet while preserving a strong resource position. PRICE ACTION: Freeport-McMoRan is up 16.5% to $9.22 in morning trading. Shares are down over 60% year to date. OTHERS TO WATCH: Other major integrated mining companies include Rio Tinto (RIO), BHP Billiton (BHP) and Vale S.A. (VALE).
August 26, 2015
09:33 EDTVALEActive equity options trading on open
Subscribe for More Information
August 19, 2015
06:09 EDTPBRPetrobras CEO attempts to set company on new path, WSJ reports
Subscribe for More Information
August 18, 2015
16:00 EDTPBROptions Update; August 18, 2015
Subscribe for More Information
11:14 EDTVALEStocks with call strike movement; NFLX VALE
Subscribe for More Information
07:29 EDTPBREnerCom to hold a conference
The Oil & Gas Conference is being held in Denver, Colorado on August 16-20 with webcasted company presentations to begin on August 18 at 10:00 am; not all company presentations may be webcasted. Webcast Link
06:26 EDTPBRPetrobras may pay $1.6B to settle U.S. corruption probe, Reuters reports
Petrobras may face record penalties of $1.6B or more to settle U.S. criminal and civil investigations into its role in a corruption scandal, Reuters reports, citing a person briefed by the company's legal advisors. The company may pay the largest penalties ever given by U.S. authorities in a corporate corruption investigation, the report says. Reference Link
August 17, 2015
07:51 EDTPBRPetrobras volatility flat as share price and oil trends lower
Petrobras August call option implied volatility is at 69, September is at 68, October is at 66; compared to its 52-week range of 42 to 131, suggesting non-directional price movement.

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