Freeport-McMoRan (FCX) PT Cut to $8 at FBR Capital Following Dividend Suspension, More Cuts
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Freeport-McMoRan (FCX) PT Cut to $13 - UBS
December 10, 2015 10:15 AM ESTUBS analyst, Brian Maca, cut the Freeport-McMoRan (NYSE: FCX) price target to $13 from $15.50 but maintained its Buy rating.
FCX has announced further capex and production cuts in both its mining and oil & gas businesses. In O&G, FCX now expects 2016 and 2017 capex to be $1.8B and $1.2B, respectively, from $2.0B... More
Market Wrap: Stocks Slide for Third Session; Yahoo! Snubs Alibaba Spin; lululemon Hit on Lowered Outlook
December 9, 2015 5:26 PM ESTMarket wrap for December 9th
End of the Day: S&P 500 down 16.0 to 2,047.62; Dow Jones down 75.7 to 17,492.30; Nasdaq down 75.4 to 5,022.87
Market Brief: Markets weak once again as crude prices continued to slide on Wednesday. This is the third-straight close lower for the major exchanges.
Yahoo! affirmed speculation that it would cease plans to spin its Alibaba stake and instead look at alternatives.
Wholesale inventories showed a surprise drop in October.
Freeport-McMoRan joined Kinder Morgan in cutting dividend payouts, though the... More
Freeport-McMoran (FCX) Capex Cuts Seen Impacting Noble (NE), Rowan (RDC) - Evercore ISI
December 9, 2015 3:02 PM ESTFreeport-McMoran (NYSE: FCX) capex cuts could impact Noble Corp (NYSE: NE) and Rowan Cos. (NYSE: RDC), according to Evercore ISI analyst James West.
Earlier Freeport-McMoran said capital expenditures for 2016 and 2017 have been reduced further from $2.0 billion per year in 2016 and... More
Freeport-McMoran (FCX) Updates on Actions Taken in Response to Market Conditions; Will Suspend Dividend
December 9, 2015 8:03 AM ESTFreeport-McMoRan Inc. (NYSE: FCX) announced additional actions in response to market conditions, including further revisions to its oil and gas capital spending plans, additional curtailments in copper and molybdenum production and the suspension of its common stock dividend.
Oil & Gas Review. As previously reported on August 5, 2015, Freeport-McMoRan Oil & Gas (FM O&G) is deferring investments in several long-term projects in response to oil and gas market conditions. Following an ongoing review, capital expenditures for 2016 and 2017 have been reduced further from $2.0 billion per year in 2016 and 2017 to $1.8 billion in 2016 and $1.2 billion in 2017,... More
