Breaking News Instant updates and real-time market news.

FCX

Freeport McMoRan

$15.12

0.61 (4.20%)

08:05
11/23/16
11/23
08:05
11/23/16
08:05

Freeport McMoRan raises $1.5B in gross proceeds from at-the-market offering

Freeport-McMoRan announced the completion of its at-the-market offering of common stock announced on July 27. FCX raised $1.5B in gross proceeds through the sale of 116.5M shares of FCX common stock in open market transactions since July 28. The shares were issued pursuant to FCX's shelf registration statement. After giving effect to this offering, FCX will have approximately 1.44B shares of common stock outstanding. President and CEO Richard Adkerson said, "The completion of this offering, together with $6.6B in previously announced asset sale transactions, enables us to restore our balance sheet strength and achieve our stated debt reduction targets. This important milestone represents the successful completion of our plan to generate proceeds for debt repayment through asset sales and the issuance of equity. Our plan was executed in a manner to enable us to retain our industry leading portfolio of high quality, long-lived copper assets. We remain focused on executing our operating plans to generate significant free cash flow and to building long-term values for shareholders."

FCX Freeport McMoRan
$15.12

0.61 (4.20%)

10/17/16
10/17/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Freeport McMoRan (FCX) reinstated with an Underperform at BofA/Merrill. 2. Novan (NOV) initiated with an Overweight at Piper Jaffray, an Outperform at Wedbush, and an Outperform at JMP Securities. 3. CapStar Financial (CSTR) initiated with a Market Perform at Keefe Bruyette, a Hold at Sandler O'Neill, and an Outperform at Raymond James. 4. Trade Desk (TTD) initiated with a Buy at Jefferies, an Outperform at RBC Capital, a Buy at Citi, a Buy at Needham, and an Outperform at Raymond James. 5. e.l.f. Beauty (ELF) initiated with a Neutral at JPMorgan, an Overweight at Piper Jaffray, a Market Perform at Wells Fargo, an Outperform at William Blair, a Hold at Stifel, a Buy at SunTrust, an Outperform at Cowen, and an Equal Weight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/14/16
MACQ
11/14/16
NO CHANGE
Target $13
MACQ
Outperform
Freeport McMoRan price target raised to $13 from $9 at Macquarie
Macquarie analyst Anthony Young raised Freeport's price target to $13 from $9 in conjunction with the Commodities' team increase in copper price forecast by 17% in 2017 to $2.43/lb and 16% in 2018 to $2.13/lb. The analyst likes Freeport's leverage to the price of copper and expects the company to ultimately reach an agreement with the Indonesia government on the company's permit to export. Young has an Outperform rating on Freeport shares.
11/17/16
DBAB
11/17/16
DOWNGRADE
Target $12.5
DBAB
Hold
Freeport McMoRan downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Chris Terry downgraded Freeport McMoRan to Hold citing valuation following the recent rally in the shares. The analyst keeps a $12.50 price target for the stock.
11/21/16
COWN
11/21/16
NO CHANGE
Target $20
COWN
Outperform
Freeport McMoRan price target raised to $20 from $15 at Cowen
Cowen analyst Anthony Rizzuto raised his price target on Freeport McMoRan to $20 from $15 as the company has regained its status as the "go-to" coper investment vehicle after the impressive action taken by management to right-size the balance sheet. Rizzuto reiterated his Outperform rating on Freeport McMoRan shares.

TODAY'S FREE FLY STORIES

02:35
06/27/17
06/27
02:35
06/27/17
02:35
General news
FX Update: The dollar majors remained in fairly narrow ranges »

FX Update: The dollar…

NXTM

NxStage Medical

$23.46

0.13 (0.56%)

21:43
06/26/17
06/26
21:43
06/26/17
21:43
Initiation
NxStage Medical initiated at Craig-Hallum »

NxStage Medical initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

21:40
06/26/17
06/26
21:40
06/26/17
21:40
General news
Treasury Closing Summary: »

Treasury Closing Summary:…

BL

BlackLine

$37.80

-0.26 (-0.68%)

20:56
06/26/17
06/26
20:56
06/26/17
20:56
Initiation
BlackLine initiated at SunTrust »

BlackLine initiated with…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

ULTI

Ultimate Software

$221.91

-0.25 (-0.11%)

20:56
06/26/17
06/26
20:56
06/26/17
20:56
Initiation
Ultimate Software initiated at SunTrust »

Ultimate Software…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 28

    Jun

  • 29

    Jun

  • 11

    Jul

CRM

Salesforce

$88.11

-0.51 (-0.58%)

20:56
06/26/17
06/26
20:56
06/26/17
20:56
Initiation
Salesforce initiated at SunTrust »

Salesforce initiated with…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

EVBG

Everbridge

$24.66

-0.3 (-1.20%)

20:56
06/26/17
06/26
20:56
06/26/17
20:56
Initiation
Everbridge initiated at SunTrust »

Everbridge initiated with…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

RNG

RingCentral

$37.65

-1 (-2.59%)

20:56
06/26/17
06/26
20:56
06/26/17
20:56
Initiation
RingCentral initiated at SunTrust »

RingCentral initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

WK

Workiva

20:56
06/26/17
06/26
20:56
06/26/17
20:56
Initiation
Workiva initiated at SunTrust »

Workiva initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

HUBS

HubSpot

$68.20

-0.7 (-1.02%)

20:56
06/26/17
06/26
20:56
06/26/17
20:56
Initiation
HubSpot initiated at SunTrust »

HubSpot initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 28

    Jun

  • 29

    Jun

  • 11

    Jul

HUBS

HubSpot

$68.20

-0.7 (-1.02%)

20:55
06/26/17
06/26
20:55
06/26/17
20:55
Initiation
HubSpot initiated at SunTrust »

HubSpot initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 28

    Jun

  • 29

    Jun

  • 11

    Jul

QTWO

Q2 Holdings

20:55
06/26/17
06/26
20:55
06/26/17
20:55
Initiation
Q2 Holdings initiated at SunTrust »

Q2 Holdings initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Jun

  • 28

    Jun

  • 29

    Jun

INST

Instructure

$29.55

0.4 (1.37%)

20:55
06/26/17
06/26
20:55
06/26/17
20:55
Initiation
Instructure initiated at SunTrust »

Instructure initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 28

    Jun

  • 29

    Jun

  • 11

    Jul

MANH

Manhattan Associates

20:55
06/26/17
06/26
20:55
06/26/17
20:55
Initiation
Manhattan Associates initiated at SunTrust »

Manhattan Associates…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

PCTY

Paylocity

$47.39

-1.65 (-3.36%)

20:55
06/26/17
06/26
20:55
06/26/17
20:55
Initiation
Paylocity initiated at SunTrust »

Paylocity initiated with…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 28

    Jun

  • 29

    Jun

  • 11

    Jul

SHOP

Shopify

$92.04

-2.44 (-2.58%)

20:55
06/26/17
06/26
20:55
06/26/17
20:55
Initiation
Shopify initiated at SunTrust »

Shopify initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

LH

LabCorp

$152.30

0.68 (0.45%)

20:10
06/26/17
06/26
20:10
06/26/17
20:10
Downgrade
LabCorp rating change at KeyBanc »

LabCorp downgraded to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

ATXI

Avenue Therapeutics

20:06
06/26/17
06/26
20:06
06/26/17
20:06
Syndicate
Avenue Therapeutics 5.5M share IPO priced at $6.00 »

The deal size was…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Jun

NXPI

NXP Semiconductors

$109.73

-0.25 (-0.23%)

20:05
06/26/17
06/26
20:05
06/26/17
20:05
Hot Stocks
NXP Semi collaborates with Shanghai Unicom, roam2free on eSIM solution »

NXP Semiconductors…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Jun

  • 26

    Jun

PDCE

PDC Energy

$42.88

-1.84 (-4.11%)

19:21
06/26/17
06/26
19:21
06/26/17
19:21
Hot Stocks
PDC Energy CEO 'disappointed' with Clean Air Act complaint »

Today, the U.S.…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Jun

MRIN

Marin Software

$1.18

0.025 (2.17%)

19:17
06/26/17
06/26
19:17
06/26/17
19:17
Hot Stocks
Marin Software names Brad Kinnish CFO »

Marin Software announced…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

GM

General Motors

$34.52

0.32 (0.94%)

19:15
06/26/17
06/26
19:15
06/26/17
19:15
Earnings
General Motors: Previous FY17 EPS view unchanged »

General Motors said…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Jun

  • 25

    Jul

GM

General Motors

$34.52

0.32 (0.94%)

19:04
06/26/17
06/26
19:04
06/26/17
19:04
Hot Stocks
General Motors lowers view of 2017 U.S. car industry »

On a conference call…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Jun

  • 25

    Jul

BLKB

Blackbaud

$89.25

-0.25 (-0.28%)

, CST

CST Brands

$48.54

0.18 (0.37%)

18:56
06/26/17
06/26
18:56
06/26/17
18:56
Hot Stocks
S&P announces changes to S&P MidCap 400, S&P SmallCap 600 indices »

S&P SmallCap 600…

BLKB

Blackbaud

$89.25

-0.25 (-0.28%)

CST

CST Brands

$48.54

0.18 (0.37%)

NSA

National Storage

$22.63

0.22 (0.98%)

ANCUF

Alimentation Couche-Tard

$48.08

1.9887 (4.31%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

GM

General Motors

$34.52

0.32 (0.94%)

18:52
06/26/17
06/26
18:52
06/26/17
18:52
Hot Stocks
General Motors raises expected Opel sale charge to $5.5B »

On a conference call…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Jun

  • 25

    Jul

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.