Dec 5- Freeport-McMoRan Copper& Gold Inc said on Wednesday it would acquire Plains Exploration& Production Co and McMoRan Exploration Co in two separate deals for $9 billion in cash and stock. Freeport said it would buy Plains for $6.9 billion in cash and stock.
*Freeport to buy Plains, McMoRan Exploration for $9 bln. *Citigroup to cut 11,000 jobs, take $1 billion charge. Equities staged a turnaround in the face of a drop in Apple, the largest U.S. company by market capitalization and a big weight in both the S&P 500 and the Nasdaq.
Dec 5- One of the largest shareholders in Freeport-McMoRan Copper& Gold slammed the company's $9 billion deal to acquire McMoRan Exploration and Plains Exploration& Production, saying Freeport management had broken shareholder trust.
NEW ORLEANS-- McMoRan Exploration Co. said Friday its third-quarter loss swelled to $64 million, hurt by a jump in exploration costs and a drop in oil and gas production stemming for Hurricane Isaac. The New Orleans- based company's loss amounted to 40 cents per share and compared with a loss of $9.4 million, or 6 cents per share, in the same quarter last year.
Oct 12- Marifil Mines Ltd:. *Says resumed operatorship of the Las Aguilas property. *Marifil mines-co and Prophecy Platinum have terminated their joint venture.
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McMoRan Exploration lit up with upside option activity yesterday.
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Cramer makes the call on viewers' favorite stocks.
Cramer makes the call on viewers' favorite stocks.
McMoRan Exploration saw heavy option activity last month and yesterday drew more upside buyers.
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Stocks closed higher as Citigroup's earnings lifted bank stocks ahead of a cluster of earnings reports this week, including Apple and IBM, which report after the market closes. Bank of America and JPMorgan rose, while Intel and Home Depot fell.
Stocks rose as Citigroup's earnings lifted bank stocks ahead of a cluster of earnings reports this week. Bank of America and JPMorgan rose, while Intel and GE fell.
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