Breaking News Instant updates and real-time market news.

FCX

Freeport McMoRan

09:22
02/03/17
02/03
09:22
02/03/17
09:22

Freeport says Indonesia approval for exports has not been granted

Freeport-McMoRan reported that its subsidiary, PT Freeport Indonesia, continues to seek approval from Indonesian authorities for the export of its copper concentrates, consistent with its rights under its Contract of Work. To date, this approval has not been granted. Richard Adkerson, FCX President and CEO, and Chappy Hakim, PT-FI President Director, said: "We have been actively engaged with Indonesian governmental authorities to enable full operations at PT-FI to continue without disruption. This would be in the best interests of all stakeholders, including the Government of Indonesia, our large work force, the local community, local suppliers and Freeport's shareholders. We are disappointed that this matter remains unresolved and are concerned about the negative impacts for all stakeholders, especially for our workforce and the local economy. We encourage the Government to enable our full operations to continue without disruption and to provide the required assurances to support our long-term investment programs so these negative impacts can be avoided." The company added, "To date, the Government has not granted continuation of exports. The Government has indicated that in order to export its concentrate production, PT-FI would be required to immediately convert to an IUPK, forgo its current rights to fiscal and legal certainty and commit to a new smelter prior to completing a long-term investment stability agreement. PT-FI has advised the Government that it cannot accept these conditions unless a mutually satisfactory replacement agreement is completed. A continuing delay in obtaining rights to export its copper concentrates will require PT-FI to undertake near-term actions to reduce production to match available domestic capacity at PT Smelting, which processes approximately 40 percent of PT-FI's concentrate production. Under the reduced operating plans, PT-FI will be required to significantly adjust its cost structure, reduce its work force and spending with local suppliers, and suspend investments on its underground development projects and new smelter. For each month of delay in obtaining approval to export, PT-FI's share of production is projected to be reduced by approximately 70 million pounds of copper and 70 thousand ounces of gold."

FCX Freeport McMoRan

11/30/16
BREN
11/30/16
DOWNGRADE
BREN
Sell
Freeport McMoRan downgraded to Sell from Hold at Berenberg
11/30/16
11/30/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Freeport McMoRan (FCX) downgraded to Sell from Hold at Berenberg. 2. Arrowhead (ARWR) was downgraded to Neutral from Overweight at Piper Jaffray, to Neutral from Buy at Chardan, to Hold from Buy at Cantor, and to Market Perform from Outperform at William Blair. 3. W.R. Grace (GRA) downgraded to Hold from Buy at Jefferies with analyst Laurence Alexander noting the potential for a sharp drop in free cash flow conversion once its net operating loss carry-forwards are exploited. 4. Abaxis (ABAX) downgraded to Neutral from Buy at Northcoast. 5. Duluth Holdings (DLTH) downgraded to Neutral from Outperform at Baird with analyst Jonathan Komp citing the stock's recent rally and the possibility its valuation metrics have pushed beyond the levels he believes it can sustain. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/26/17
MACQ
01/26/17
NO CHANGE
Target $15
MACQ
Neutral
Freeport McMoRan price target to $15, remain on sidelines, says Macquarie
Macquarie analyst Anthyony Young raised Freeport McMoRan's price target to $15 from $13 based on higher earnigns in 2018 driven by increased gold production. The analyst said Freeport's financial position has greatly improved relatively to 2016 but given the risk/reward profile, maintains a Neutral rating and recommends staying on the sidelines.
01/31/17
JEFF
01/31/17
NO CHANGE
Target $18.5
JEFF
Buy
Jefferies says buy Freeport on Indonesia related pullbacks
Jefferies analyst Christopher LaFemina recommends using any pullback in Freeport-McMoRan shares related to Indonesia as a buying opportunity. Based on comments from Indonesian officials, a temporary export license for copper concentrate should be issued to the company very soon, and exports should restart, LaFemina tells investors in a research note. A resumption of Indonesian exports should be a positive for Freeport, the analyst contends. He expects the copper price and the stock to move higher and keeps a Buy rating on Freeport with an $18.50 price target.

TODAY'S FREE FLY STORIES

$NYE

NYSE Market Internals

10:16
11/20/17
11/20
10:16
11/20/17
10:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

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

10:15
11/20/17
11/20
10:15
11/20/17
10:15
General news
FX Action: The dollar »

FX Action: The dollar…

MRO

Marathon Oil

$14.70

-0.3537 (-2.35%)

10:14
11/20/17
11/20
10:14
11/20/17
10:14
Technical Analysis
Technical View: Marathon Oil drops, levels to watch »

The shares were last down…

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

    Nov

DVN

Devon Energy

$37.66

-1.02 (-2.64%)

10:10
11/20/17
11/20
10:10
11/20/17
10:10
Options
Bullish option activity in Devon Energy as shares fall »

Bullish option activity…

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

ACOR

Acorda Therapeutics

$17.80

0.55 (3.19%)

10:09
11/20/17
11/20
10:09
11/20/17
10:09
Hot Stocks
Acorda drops Parkinson's drug less than a week after reporting deaths in study »

Shares of Acorda…

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

    Nov

DBVT

DBV Technologies

$23.43

0.63 (2.76%)

10:07
11/20/17
11/20
10:07
11/20/17
10:07
Recommendations
DBV Technologies analyst commentary  »

DBV safety study data…

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

DPLO

Diplomat Pharmacy

$14.99

-0.015 (-0.10%)

10:05
11/20/17
11/20
10:05
11/20/17
10:05
Conference/Events
Diplomat Pharmacy management to meet with Needham »

Meetings to be held in…

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

  • 20

    Nov

  • 21

    Nov

  • 22

    Nov

  • 29

    Nov

10:01
11/20/17
11/20
10:01
11/20/17
10:01
General news
Leading Indicators data reported »

October Leading…

GD

General Dynamics

$198.15

0.38 (0.19%)

10:01
11/20/17
11/20
10:01
11/20/17
10:01
Hot Stocks
General Dynamics unit awarded $52M U.S. Army contract »

General Dynamics…

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

VIAB

Viacom

$26.15

2.46 (10.38%)

10:00
11/20/17
11/20
10:00
11/20/17
10:00
Technical Analysis
Technical View: Viacom rises, analyst action »

The stock was last up…

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

CMCSA

Comcast

$36.16

-0.91 (-2.45%)

10:00
11/20/17
11/20
10:00
11/20/17
10:00
Options
Call buying in Comcast »

Call buying in Comcast.…

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

10:00
11/20/17
11/20
10:00
11/20/17
10:00
General news
Bund/T-note spread widening is pushing -200 bp »

Bund/T-note spread…

HON

Honeywell

$147.08

0.59 (0.40%)

09:58
11/20/17
11/20
09:58
11/20/17
09:58
Hot Stocks
Honeywell to provide cryogenic gas processing plant to EagleClaw Midstream »

Honeywell announced that…

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

URBN

Urban Outfitters

$27.90

1.45 (5.48%)

09:55
11/20/17
11/20
09:55
11/20/17
09:55
Options
Urban Outfitters put volume heavy and directionally bearish »

Bearish flow noted in…

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

  • 20

    Nov

FTR

Frontier Communications

$6.96

0.3 (4.50%)

, DLPH

Delphi

$102.23

3.53 (3.58%)

09:55
11/20/17
11/20
09:55
11/20/17
09:55
Options
Early notable gainers among liquid option names on November 20th »

Notable gainers among…

FTR

Frontier Communications

$6.96

0.3 (4.50%)

DLPH

Delphi

$102.23

3.53 (3.58%)

AVY

Avery Dennison

$109.71

1.4248 (1.32%)

VIAB

Viacom

$26.15

2.46 (10.38%)

WYNN

Wynn Resorts

$152.28

-0.92 (-0.60%)

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

  • 09

    Jan

  • 16

    Jan

ZIOP

Ziopharm

$4.57

-0.17 (-3.59%)

09:55
11/20/17
11/20
09:55
11/20/17
09:55
Conference/Events
Ziopharm to host conference call »

Conference call 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

  • 20

    Nov

  • 09

    Dec

BNPQY

BNP Paribas

$37.23

-0.399 (-1.06%)

09:50
11/20/17
11/20
09:50
11/20/17
09:50
Downgrade
BNP Paribas rating change  »

BNP Paribas 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

09:50
11/20/17
11/20
09:50
11/20/17
09:50
General news
U.S. leading economic indicators preview: »

U.S. leading economic…

SKYS

Sky Solar

$1.66

-0.03 (-1.78%)

09:45
11/20/17
11/20
09:45
11/20/17
09:45
Hot Stocks
Sky Solar announces acquisition of 24 MW of solar projects in Chile »

Sky Solar announced the…

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

09:45
11/20/17
11/20
09:45
11/20/17
09:45
General news
Leading Indicators to be reported at 10:00 »

October Leading…

SC

Santander Consumer

, SAN

Banco Santander

09:42
11/20/17
11/20
09:42
11/20/17
09:42
Hot Stocks
Banco Santander acquires additional 10% stake in Santander Consumer »

In a regulatory filing,…

SC

Santander Consumer

SAN

Banco Santander

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

DVN

Devon Energy

, SLV

iShares Silver Trust

09:40
11/20/17
11/20
09:40
11/20/17
09:40
Options
Unusually active option classes on open November 20th »

Unusual total active…

DVN

Devon Energy

SLV

iShares Silver Trust

CMCSA

Comcast

$36.16

-0.91 (-2.45%)

UAL

United Continental

WMT

Wal-Mart

UNG

United States Natural Gas Fund

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

    Nov

  • 20

    Feb

RCON

Recon Technology

$1.42

-0.0793 (-5.29%)

09:36
11/20/17
11/20
09:36
11/20/17
09:36
Hot Stocks
Recon Technology announces $4.8M strategic investment »

Recon Technology…

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

MDT

Medtronic

09:32
11/20/17
11/20
09:32
11/20/17
09:32
Hot Stocks
Medtronic announces FDA approval, U.S. launch of Azure pacemakers »

Medtronic announced FDA…

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

  • 01

    Dec

ROK

Rockwell Automation

09:31
11/20/17
11/20
09:31
11/20/17
09:31
Upgrade
Rockwell Automation rating change  »

Rockwell Automation…

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

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.