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Stock Market & Financial Investment News

News Breaks
February 10, 2014
08:55 EDTVALEVale Carajas license removes overhang, says Goldman
Vale announced that the Brazilian environmental agency granted the company a license for the Carajas mine to reduce the minimum radius to mine around underground caves categorized as maximum relevance from 250mts to 50mts. Goldman said the license removes a significant overhang and increases confidence in production growth. Shares are Buy rated with a $19.50 price target.
News For VALE From The Last 14 Days
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October 7, 2015
08:47 EDTVALEOptions expected to be active
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October 6, 2015
10:22 EDTVALEBoard cut, unit review push Freeport shares higher
Shares of copper producer Freeport-McMoRan (FCX) are rallying in morning trading after the company announced plans to review strategic alternatives for its oil and gas business. The company also said it would shrink its board to nine members. WHAT'S NEW: Freeport-McMoRan said this morning that it is reviewing strategic alternatives for its oil and gas business, FM O&G, amid a tumble in commodity prices. In a statement, Freeport said it is studying options for achieving self-funding of the oil and gas unit. FM O&G's "high quality asset base, substantial underutilized Deepwater Gulf of Mexico infrastructure, large inventory of low risk development opportunities and talented and experienced personnel and management team provide alternatives to generate value," it wrote. A previously disclosed potential initial public offering of a minority interest in the oil and gas business remains an alternative for future consideration, the company said. The copper producer said that other alternatives under consideration include a spinoff of the company's oil and gas business to shareholders, joint venture arrangements and further spending reductions. In addition to the FM O&G news, Freeport-McMoRan also announced this morning that it reduced the size of its board of directors from 16 to nine members. These actions, the company said, follow "constructive discussions with many of its largest shareholders." The company said five directors have left the FCX board and have been appointed to the FM O&G board, with James Flores named FM O&G Chairman; Flores remains FM O&G's chief executive officer. WHAT'S NOTABLE: Freeport-McMoRan said earlier this year it would consider selling as much as 20% of its oil and gas unit in an IPO. In June, Chief Financial Officer Kathleen Quirk said the company would likely sell less than 20%, since keeping 80% of the unit would provide the company with some tax advantages. Activist investor Carl Icahn raised his stake in Freeport-McMoRan to 8.8% from 8.46% on September 18. Icahn told CNBC on September 30 that it was "right to expect" that he would get involved with the copper producer. Icahn said that too much copper is being produced now, depressing its price, but believes copper will turn in the future. PRICE ACTION: Freeport-McMoRan rose 6.26% to $11.88 in morning trading. Shares are down over 49% year to date. OTHERS TO WATCH: Other major integrated mining companies include Rio Tinto (RIO), BHP Billiton (BHP) and Vale S.A. (VALE).
October 2, 2015
12:07 EDTVALEVale management to meet with Jefferies
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September 29, 2015
07:04 EDTVALEVale volatility at upper end of 52-week range
Vale 30-day option implied volatility is at 94; compared to its 52-week range of 34 to 94, suggesting large price movement.
06:07 EDTVALEVale cuts dividend, reflecting weaker commodity prices
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