On Thursday, Shares of Freeport-McMoRan Inc. (NYSE:FCX), lost -5.28% to $11.84.
A copper export deal agreed earlier this week between Indonesia and Freeport-McMoRan has been finalized after Trade Minister Rachmat Gobel signed off on the agreement, according to Reuters.
The implementation of an export deal reached earlier this week by Indonesia and Freeport-McMoRan was delayed indefinitely due to the sickness of a senior trade ministry official.
Arizona-based Freeport, which runs one of the biggest copper mines in Papua, reached a contract with the Indonesian government to export 775,000 tonnes of copper over the next six months on Monday, after proving sufficient progress on the construction of a second domestic smelter. Reuters Reports
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 Citigroup Inc. (NYSE:C), inclined 0.02% to $58.88, during its last trading session.
On July 22, Citi released the disclosures required by the rules of the Federal Reserve Board in connection with Citi’s 2015 Mid-Cycle Stress Test. This information may be found on Citi’s website at www.citigroup.com/citi/investor.
Citigroup Inc., a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions worldwide. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
Finally, ARRIS Group, Inc. (NASDAQ:ARRS), ended its last trade with -0.39% loss, and closed at $30.48.
ARRIS Group declared preliminary and unaudited financial results for the second quarter 2015.
Second Quarter 2015 Financial Highlights
- Revenues were $1,260.1 million
- GAAP net income was $0.11 per diluted share
- Adjusted net income (a non-GAAP measure) was $0.53 per diluted share
- End-of-quarter cash resources were $622.8 million
- Order backlog was $651.3 million
- Book-to-bill ratio was 0.94
“Sales, margins, and Non-GAAP earnings were all up quarter over quarter, although not as much as we originally thought. These results, as predictable, are down contrast with the second quarter of last year when we were launching an unprecedented number of new products. As we have highlighted, we are encountering headwinds which we expect to continue through 2015, in particular those related to industry consolidations and the strong US dollar. With respect to the third quarter 2015, we expect revenues will be in the range of $1,210 million to $1,260 million, with adjusted net income per diluted share in the range of $0.52 to $0.58 and GAAP net income per diluted share in the range of $0.17 to $0.23,” said Bob Stanzione, ARRIS Chairman and CEO. “I remain confident about our future business prospects and the pending Pace acquisition. The combination is proceeding as predictable and we continue to anticipate closing the transaction in the fourth quarter of 2015.”
ARRIS Group, Inc. provides media entertainment and data communications solutions in the United States and internationally. The company operates in two segments, Customer Premises Equipment and Network & Cloud. The Customer Premises Equipment segment offers various product solutions, counting set-top boxes, gateways, digital subscriber lines and cable modems, and embedded multimedia terminal adapters and voice/data modems that enable service providers to offer voice, video, and high-speed data services to residential and business subscribers.
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