NEW FREE! REAL-TIME QUOTES

BullsEye -- Insights for Active Traders

RTTNews storyFreeport McMoRan Dips In Pre-Market After Revising Operating Plans, Suspending Dividend

Wed Dec 03 08:41:00 2008 EST

(RTTNews) - Freeport McMoRan (FCX) slid in pre-market trading, after revising its operating plans and suspending its common stock dividend.

The stock was down $3.88 just before 8:40 am ET, slipping to $17.95. If pre-market losses hold, the stock will open at its lowest level in two weeks.

Freeport McMoRan announced that it would reduce Copper Production and Sales of 200 million pounds in 2009e and 500 million pounds in 2010e Compared with Previous Estimates.

The company expects 18% reduction in Estimated 2009 Unit Site Production and Delivery Costs Compared with 2008e.

Freeport McMoRan anticipates $1.2 billion reduction in Estimated 2009 Capital Expenditures Compared with Previous Estimates.

In response to weak conditions in commodity and financial markets, FCX also suspended its annual common stock dividend of $2.00 per share.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2008 RealTimeTraders.com, Inc. All Rights Reserved

Trading Corner

Free Newsletters!

Choose one or all of the following newsletters:

6 Free Issues of Trading 101 Newsletter

Trading 101 Newsletter

Options 101
By Bernie Schaeffer

Want to learn more about Options trading? Read this article and get a "primer" from avid investor Bernie Schaeffer, founder of Schaeffer's Investment Research, on options. Learn what puts and calls are (with charts) along with why investors/traders should consider options in their portfolios. Plus more!


6 Free Issues of Trading 201 Newsletter

Trading 201 Newsletter

So, You Want to Trade Forex: Understanding Forex in Plain English

By Raghee Horner, Founder / Lead Trader of EZ2TradeSoftware.com

Get the inside scoop on a hot trading topic! Check out this article on the basics of Forex trading by Forex trader and owner of EZ2TradeSoftware.com, Raghee Horner. And, see what else Trading 201 has to offer. It's six months of FREE investment information from masters of the trade.


Fast Break - A Weekly Newsletter for Futures Traders

Fast Break Newsletter

Fast Break's timely content brings you a high-level look at and in-depth view of current market moves, trends and events, plus analysis, tips and market reviews, as well as trading techniques, pointers and tools you can use immediately.

Sign up, compliments of eSignal, and discover the futures trading advantage you shouldn't be without.


Market data delayed per exchange rules. All quotes are in U.S. Eastern Time (EST).
© 2008 eSignal, Inc., a wholly owned subsidiary of Interactive Data Corporation (NYSE: IDC). All rights reserved.
Terms and Conditions    Privacy Policy    Trademarks    More