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"Last week was a magical week for us," Freeport McMoRan CEO Richard Adkerson said on "Squawk Box." The New Orleans mining giant closed on its acquisition of Phoenix-base Phelps Dodge for $26 billion, then boosted a planned stock offering to help cut some of the $17.5 billion debt it took on for the deal.
Freeport-McMoRan is everything you could ever want in a stock right now – it’s a hedge against inflation, it’s leveraged to the rest of the world, loved by the market and underestimated by the analysts.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Cramer tackles student questions on GameStop, AMD, Southwest and more...Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
James Cromwell has been nominated for three Emmys and one supporting actor Oscar--for his role in "Babe." He also played Prince Phillip in one of this year's Oscar winners, "The Queen." He currently stars in Fox's "24." And he's going to be in the upcoming "Spider Man 3."
Mark from Indiana asks about gold and silver. He wants to know what Eric Bolling thinks about the copper producers and in particular Freeport-McMoRan (FCX) after they complete the Phelps Dodge (PD) merger. Eric says...
Copper miner Phelps Dodge said fourth-quarter earnings rose sharply, helped by strong prices for copper and molybdenum and gains on investments.
The Dow closed at a record for the third straight session and Nasdaq fell slightly as investors bought selectively ahead of earnings reports and on a steep drop in oil.
Freeport-McMoRan Copper & Gold , which is buying mining rival Phelps Dodge for $25.9 billion, Tuesday reported fourth-quarter profit fell as a result of lower copper and gold output.
Last November, the copper and gold mining giant Freeport-McMoRan announced it would be acquiring its copper mining competitor, Phelps Dodge, for $25.9 billion in cash and stock. But since the announcement, Freeport’s earnings have come in 13 cents lower than estimates and its takeover is now facing resistance from a hedge fund with a stake in Phelps Dodge.
Lots of corporate headlines are already getting attention ahead of the open. Stocks in the U.S. are lining up to open higher at this point, and earnings will be the big focus. After making gains yesterday, European stocks are mixed with a flattish performance, and Japanese stocks were little changed to the downside.
Financials and techs, two groups that pulled in the money last week, will be out in front of the news this week when earnings season is in full swing. Markets will also be watching key economic data, a parade of Fed speakers and whatever side show goes on when oil markets reopen, after last week's near six percent slide in crude.
In today's "Faber Report", David took a closer look at a sharp decline in the price of one of the hottest commodities of 2006. Find out what it is and which mining deal he's watching closely as a result.
James Cordier, president of Liberty Trading Group and Sean Brodrick, senior commodities analyst at MoneyandMarkets.com, tell CNBC’s Michelle Caruso-Cabrera which commodities to watch in 2007.
FTC clearance removes at least one obstacle to the proposed combination, which would create the world's largest copper miner. The deal still needs shareholder approval, and there is no certainty the companies will get it.
All the major market indexes finished lower for the day. Volume is likely to be light on Friday ahead of the Christmas holiday.
A hedge fund with a 5.1% stake in Phelps Dodge plans to vote against a proposed $25.9 billion takeover of the mining company by Freeport-McMoRan saying the offer does not fairly value Phelps Dodge.