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The pledge was seen as a promising development for Phoenix, Arizona- based Freeport, which is under pressure from billionaire activist investor Carl Icahn and slumping commodity prices. Shares were up 1.7 percent to $13.24, after climbing more than 10 percent on Wednesday, when Freeport said two Icahn appointees were added to its board of directors.
Oct 8- U.S. energy and mining company Freeport-McMoRan Inc said on Thursday it has been assured by the government of Indonesia that the mining contract for its giant Grasberg copper and gold mine will be extended beyond 2021.. The pledge, coming after extended negotiations, is a positive development for Phoenix, Arizona- based Freeport, which is under pressure...
NEW YORK— Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:. Anheuser-Busch InBev, up $1.36 to $110.96. The owner of KFC, Pizza Hut and Taco Bell cut its outlook for the year, citing a slower-than-expected comeback for its China unit.
Oct 7- U.S. miner Freeport-McMoRan Inc said on Wednesday it will add two new directors to its board under an agreement with billionaire Carl Icahn, bowing to pressure from the activist investor, who is the company's largest shareholder. Freeport shares jumped as much as 13.6 percent after it said it added Icahn lieutenants Andrew Langham and Courtney Mather to...
NEW YORK— Shares of Freeport-McMoRan are rising sharply after the copper mining company agreed to add two new members to its board from activist investor Carl Icahn. Icahn and his investment companies own an 8.8 percent stake in Freeport-McMoRan. Freeport-McMoRan Inc. shares rose $1.44, or 12.2 percent, to $13.27 in morning trading.
Oct 7- U.S. mining and energy company Freeport-McMoRan Inc, bowing to pressure from its largest shareholder, said on Wednesday it added two new directors to its board under an agreement with activist investor Carl Icahn. Freeport shares jumped more than 12 percent after announcing that it has added Andrew Langham and Courtney Mather to its board.
Oct 6- Freeport-McMoRan Inc, under pressure from activist shareholder Carl Icahn and weak commodity prices, said on Tuesday it is slashing its board size and exploring a return to its roots as a copper-focused mining company. Splitting up the company "is definitely what shareholders want," said Adrian Day, chief executive of Maryland- based Adrian Day Asset...
Oct 6- Freeport-McMoRan Inc, under pressure from activist shareholder Carl Icahn and weak commodity prices, said on Tuesday it is slashing the size of its board and exploring a spinoff or a joint venture for its oil and gas operations. The move sent Freeport shares up more than 5 percent to $11.74 in early trading in New York, with investors welcoming the prospect...
NEW YORK— Freeport-McMoRan said Tuesday that it is considering spinning off its oil and gas business and other strategic alternative to focus on its copper mining business. Earlier this year, Freeport-McMoRan slashed its quarterly dividend 84 percent because of falling oil prices. And in August, Freeport-McMoRan announced a cost-cutting plan due to...
BUZZ- FREEPORT- MCMORAN INC: REVIEWING OPTIONS FOR OIL AND GAS. **Energy and mining company's shares up 2.4 pct at $11.45 premarket. **Announcement comes a week after its biggest shareholder and activist investor Carl Icahn said that company was an example of a "golden" buying opportunity.
Oct 6- Freeport-McMoRan Inc said it is reviewing strategic options for its oil and gas business, including a spinoff or a joint venture, a week after its biggest shareholder Carl Icahn said the energy and mining company was an example of a "golden" buying opportunity. Freeport shares were up 3.5 percent at $11.57 in premarket trading on Tuesday.
Oct 6- Energy and mining company Freeport-McMoRan Inc said it is reviewing strategic options for its oil and gas business, including a spinoff, joint venture or a public offering. Activist investor Carl Icahn owned 8.8 percent of the company as of Sept. 22. Freeport also said it has reduced the size of its board to nine from 16..
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