On Thursday, Shares of Freeport-McMoRan Inc. (NYSE:FCX), gained 2.56% to $11.21, hitting its lowest level, after the copper producer declared earlier recently that it will cut its oil and gas spending.
Specifically, capital expenditure forecasts for both 2016 and 2017 will be cut to $2 billion from $2.9 billion.
The company cited current oil and gas market conditions, as oil prices are at its multi-month lows. However, for this year, it is maintaining its spending forecast at $2.8 billion.
In order to minimize the impact it’s been getting from lower oil prices, the Phoenix-based miner will turn to investors to assist fund its mining properties, The Wall Street Journal said.
Freeport-McMoRan Inc., a natural resource company, engages in the acquisition of mineral assets, and oil and natural gas resources. It primarily explores for copper, gold, molybdenum, cobalt, silver, and other metals, in addition to oil and gas.
Shares of ArcelorMittal (NYSE:MT), inclined 2.57% to $9.59, during its last trading session.
ArcelorMittal declared results for the three and six-month periods ended June 30, 2015.
Highlights:
- Health and safety: LTIF rate of 0.68x in 2Q 2015, lower as contrast to 0.88x in 1Q 2015 and 0.87x in 2Q 2014
- EBITDA of $1.4 billion in 2Q 2015, stable as contrast to 1Q 2015.
- Net income of $0.2 billion in 2Q 2015 as contrast to a net loss of $0.7 billion in 1Q 2015
- Steel shipments of 22.2Mt in 2Q 2015, an enhance of 3.4% YoY
- 4Mt own iron ore production as contrast to 16.6Mt in 2Q 2014; 10.8Mt shipped and stated at market prices, an enhance of 2.7% as contrast to 10.5Mt in 2Q 2014
- Iron ore unit cash costs reduced by 14% YoY; FY 2015 cost reduction target at 15%
- Net debt of $16.6 billion as of June 30, 2015, stable as contrast to March 31, 2015 mainly due to positive free cash flow of $0.5 billion offset by negative forex ($0.2 billion) and dividends ($0.3 billion); Net debt lower by $0.9 billion YoY
ArcelorMittal, together with its auxiliaries, operates as an integrated steel and mining company worldwide. The company operates through five segments: NAFTA; Europe; Brazil and Neighboring Countries (Brazil); Africa & Commonwealth of Independent States (ACIS); and Mining. It produces finished and semi-finished steel products.
Finally, CVS Health Corporation (NYSE:CVS), ended its last trade with -2.77% loss, and closed at $108.12.
Boston Medical Center (BMC) has received a $1.3 million grant from the Agency for Healthcare Research and Quality (AHRQ) to support a demonstration project of pharmacy-based naloxone rescue kits to assist reduce opioid addiction and overdose death in two New England States: Massachusetts and Rhode Island. The study will be conducted in partnership with Rhode Island Hospital in Providence, CVS Health, based in Woonsocket, Rhode Island, which has pharmacies throughout the U.S., and several local community pharmacies in both states, counting Massachusetts-based Eaton Apothecary.
In both states, pharmacists must be trained to distribute naloxone rescue kits through ongoing education that covers opioid addiction, overdose risk and the benefits of appropriate use of naloxone. The study will track and analyze data from the participating pharmacies throughout the two states to develop best practices for a national pharmacy-based naloxone rescue kit program.
To address the growing opioid epidemic, hospitals and pharmacies in both states recently began providing naloxone to patients with substance use disorder and their loved ones for immediate use following an overdose. Uniquely, under a standing order from BMC’s Alexander Walley, MD, the medical director of the Massachusetts naloxone program and also a Co-Investigator on this study, state-funded community programs train and equip family, friends, and people who use opioids in overdose recognition and naloxone administration. Similar infrastructure is absent in most states, such as Rhode Island. The study will look at how pharmacies can be leveraged in both settings to enhance naloxone distribution.
CVS Health Corporation, together with its auxiliaries, provides integrated pharmacy health care services in the United States. The company operates through Pharmacy Services and Retail Pharmacy segments.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
