Plains Exploration & Production Co
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CNBC's David Faber reports the latest details on Arrowgrass Capital Partners' opposition of FCX's takeover of Plains Exploration.
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It’s time for the Lightning Round. Cramer makes the call on viewer favorites.
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TORONTO, Feb 28- Freeport-McMoRan Copper& Gold Inc said on Thursday it plans to issue senior notes through a private placement, with the proceeds to help fund the copper producer's move into oil and gas production.
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Feb 19- Freeport-McMoran Copper& Gold Inc said on Tuesday it has secured $7 billion in debt financing to help fund its move to diversify into oil and gas. The copper miner said it had reached deals with two bank syndicates for a $4 billion term loan and a $3 billion revolving credit facility.
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Jan 22- Freeport-McMoRan Copper& Gold Inc's move into energy and gas will place the miner into a heavier weight class of resource companies and offers new opportunities for it to get even bigger, the company said on Tuesday.
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Freeport has offered to buy Plains Exploration& Production Co and McMoRan Exploration Co for $9 billion, in a deal expected to close in the second quarter of 2013..
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Jan 22- Freeport-McMoRan Copper& Gold Inc reported a 16 percent rise in fourth-quarter profit Tuesday on higher production of both metals, beating expectations, and forecast increased sales in 2013.. "No big surprises, but then we already had a really big surprise last month, so we've had our fill," analyst Daniel Rohr of Morningstar said of the quarterly results.
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Jan 18- McMoRan Exploration Co reported its fourth straight quarterly loss on higher costs resulting from repeated failures to launch a key gas well, a delay that has prompted bidder Freeport-McMoRan Copper& Gold Inc to lower its offer.
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SINGAPORE, Dec 7- London copper was steady on Friday and was set to close the week little changed as traders focused on the United States for progress in talks to avert a looming fiscal crisis and a crucial jobs report. *The most-traded March copper contract on the Shanghai Futures Exchange slipped 0.12 percent to 57,330 yuan a tonne.
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*Freeport in $9 billion bid for two energy companies. Even so, Freeport's $9 billion play for Plains Exploration& Production and McMoRan Exploration Co shows that even industry giants are finding copper a challenge as mines age, grades decline and costs rise.
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Jim Cramer criticizes two "astoundingly bad" deals in the oil patch.
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*Dow up 0.6 pct, S&P 500 up 0.2 pct, Nasdaq off 0.8 pct. NEW YORK, Dec 5- A volatile trading session ended with U.S. stocks mostly higher on Wednesday, even as Apple, the most valuable company in the United States, suffered its worst day of losses in almost four years.
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NEW YORK, Dec 5- Freeport McMoRan Copper& Gold Inc Chief Executive Richard Adkerson is known for taking big risks- building his company around mines in Asia, spending nearly $26 billion to take over larger mining rival Phelps Dodge and now shelling out $9 billion to take over two oil and gas companies.
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The Dow and S&P finished higher Wednesday, boosted by a batch of upbeat economic reports and optimistic comments from China's new leader, while Apple's sharp drop pushed the Nasdaq into negative territory.
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*Dow up 0.6 pct, S&P 500 up 0.2 pct, Nasdaq off 0.8 pct. NEW YORK, Dec 5- A volatile trading session ended with U.S. stocks mostly higher on Wednesday, even as Apple, the most valuable company in the United States, suffered its worst day of losses in almost four years.
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Apple fell 4 percent on heavy volume. The CEO of AT&T Mobility said 6.4 million smartphones had been sold the first two months of Q4, implying sales of about 9.4 million or so for the quarter.
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Travelers' gain leads Dow higher, Apple's drop hits Nasdaq. NEW YORK, Dec 5- U.S stocks mostly rose on Wednesday, boosted by a rally in bank shares, though a steep drop in Apple limited the advance and kept the Nasdaq in negative territory.
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On Wednesday, Freeport McMoRan made a massive bet on oil and gas with a $9 billion acquisition of two energy companies. Is there’s something wrong with Freeport’s copper business?
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*Deals allow Freeport to diversify into U.S. oil, gas. On paper the deal reshapes Freeport, with its mining profile largely outside the United States, and Plains and McMoRan concentrated in energy plays in California, Texas and the Gulf of Mexico.
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Dec 5- Plains Exploration& Production Co will not have to sell gas assets to fund a recent acquisition as a result of its deal to sell itself to Freeport-McMoRan Copper& Gold Inc, the chief executive of Plains said on Wednesday.
