Stock Market & Financial Investment News

News Breaks January 9, 2013 06:26 EDT YUM, FCX Stocks with implied volatility below IV index mean; FCX YUM Stocks with implied volatility below IV index mean; Freeport McMoRan (FCX), Yum! Brands (YUM) according to iVolatility. News For YUM;FCX From The Last 14 Days Check below for free stories on YUM;FCX the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. May 22, 2013 17:21 EDT FCX Domino's Pizza to replace Plains Exploration in S&P MidCap 400 as of May 30 Subscribe for More Information May 21, 2013 08:28 EDT FCX Plains Exploration announces special $3.00 dividend The dividend is payable to stockholders as of May 30. The dividend is conditioned upon and will be paid immediately prior to or upon the competition of PXP's merger with Freeport-McMoRan (FCX). The merger is expected to close on May 31, subject to the satisfaction of all conditions to closing. 07:55 EDT FCX Freeport McMoRan revised offer should secure merger vote, says Cowen Subscribe for More Information 07:00 EDT FCX Freeport McMoRan added to short-term buy list at Deutsche Bank May 20, 2013 14:15 EDT FCX Plains shareholders approve Freeport-McMoRan acquisition Subscribe for More Information 09:42 EDT FCX Paulson & Co. issues statement regarding Freeport-Plains merger Subscribe for More Information 07:41 EDT FCX Freeport says to declare $1.00/share supplemental dividend after Plains deal Subscribe for More Information 07:41 EDT FCX Freeport says plans $1.5B in assets sales after Plains, McMoRan transactions 07:40 EDT FCX Freeport says to declare $1.00/share supplemental dividend after Plains deal 07:35 EDT FCX Plains Exploration declares special $3.00 per share dividend Plains Exploration (PXP) announced that it has received the approval of Freeport-McMoRan Copper & Gold (FCX) under the merger agreement between the companies for PXP's Board of Directors to declare a special one-time cash dividend of $3.00 per share. Upon receipt of bank waivers under a credit facility that will terminate in connection with the merger, PXP's Board of Directors intends to declare the dividend to PXP stockholders as of May 30, the expected dividend record date. The dividend will be conditioned upon and paid immediately prior to the completion of PXP's merger with Freeport-McMoRan Copper & Gold. May 19, 2013 13:37 EDT FCX Death toll mounts at Freeport's Grasberg mine, Bloomberg reports Subscribe for More Information May 16, 2013 16:48 EDT YUM Yum! Brands Taco Bell CEO sees doubling revenue to $14B in 10 years Subscribe for More Information 08:12 EDT FCX Freeport, Plains Exploration announce preliminary results of merger election Subscribe for More Information May 15, 2013 17:18 EDT FCX BP Capital gives quarterly update on stakes Subscribe for More Information May 14, 2013 07:29 EDT FCX BofA/Merrill to host a conference Subscribe for More Information May 13, 2013 10:12 EDT YUM Yum! Brands falls after reporting 29% China sales decline Shares of Yum! Brands (YUM) are retreating after the company disclosed that its same store sales had tumbled 29% in China last month, versus the same period in 2012. WHAT'S NEW: The 29% decline in Yum's same-store sales in China, which the company announced on Friday night in an SEC filing, was roughly in-line with the its previous guidance for a decline of about 30%. The outbreak of avian flu in China had a significant negative impact on sales of Yum's KFC restaurants in that country last month, Yum! stated. Historically, the impact of avian flu outbreaks on KFC sales has been "relatively short-lived," Yum! added. ANALYST REACTION: In a note earlier today to investors, Oppenheimer analyst Brian Bittner wrote that Yum's sales in China had probably bottomed last month, as he believes that the avian flu outbreak is unlikely to accelerate. Yum should meet analysts' 2013 consensus estimates, and the company is poised to rebound significantly next year, added the analyst. He kept an Outperform rating on the stock. TODAY'S PRICE ACTION: In early trading, Yum! fell $1.73, or 2.5%, to $68.60. 10:07 EDT YUM Yum! Brands July and October volatility low Subscribe for More Information 08:13 EDT YUM Yum! Brands China comps likely bottomed in Q1, says Oppenheimer After Yum! Brands reported in-line April China comps of down 29%, Oppenheimer believes that the company's China comps likely bottomed in Q1 as the firm doesn't expect the avian flu outbreak in China to worsen. The firm expects Yum! to meet 2013 expectations, and it thinks the company could rebound significantly next year. The firm reiterates an Outperform rating on the stock. 07:36 EDT FCX Plains Exploration CEO urges holders to support Freeport McMoRan merger Plains Exploration (PXP) CEO and Chairman James C. Flores urged shareholders to support the merger with Freeport McMoRan (FCX) in a letter. The letter explained that "The strategic nature of the transaction, including the fact that the combination of the PXP, FCX and McMoRan Exploration businesses is expected to create the largest diversified U.S.-based natural resource company with an enterprise value in the top five among global mining peers, increase geographic diversification of the combined company within the U.S. and increase commodity diversification for the combined company. The scale of the combined company, which will enable it to compete more effectively than either PXP, FCX or MMR on a standalone basis, through increased cash flow and lower cost of capital investment in future development projects, exploration and acquisitions." Sign up for a free trial to see the rest of the stories you've been missing.