On Friday, Shares of Freeport-McMoRan Inc. (NYSE:FCX), lost -9.90% to $12.29, hitting its lowest level.
Freeport-McMoRan, declared:
- Capital expenditures totaled $1.7 billion for second-quarter 2015, counting $0.6 billion for major projects at mining operations and $0.8 billion for oil and gas operations. Capital expenditures are predictable to approximate $6.3 billion for the year 2015, counting $2.5 billion for major projects at mining operations and $2.8 billion for oil and gas operations.
- FCX has made substantial progress toward the completion of its major mining development projects, which are predictable to result in raised near-term production, lower unit costs, declining capital expenditures and growth in free cash flow over the next several quarters. In addition, positive oil and gas drilling and development activities are predictable to result in a growing oil production profile. FCX remains focused on maintaining a strong balance sheet and on ongoing to manage costs, capital spending plans and other actions as required to maintain financial strength.
- On June 23, 2015, Freeport-McMoRan Oil & Gas Inc. filed a registration statement related to its potential initial public offering (IPO) of Class A common stock representing a minority interest in the entity.
- At June 30, 2015, merged debt totaled $20.9 billion and merged cash totaled $466 million.
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 Alibaba Group Holding Limited (NYSE:BABA), declined -1.03% to $83.02, during its last trading session.
Tmall.com, China’s largest business-to-consumer platform and a unit of Alibaba Group (BABA), declared it has launched a RMB 1 billion ($161 million) online grocery promotional campaign targeted at Beijing users, and teamed up with Cainiao, the logistics associate of Alibaba Group, to offer same-day delivery services to Beijing city residents.
Online grocery shopping is a rapidly growing e-commerce segment and a planned area of interest for Alibaba Group. The convenience of online grocery shopping has already drawn in millions of users. According to Kantar Worldpanel, China’s FMCG (fast moving consumer goods) e-commerce penetration rate was 36 percent in 20141, while McKinsey states that 40 percent of Chinese consumers have bought food online.
Tmall Supermarket (http://chaoshi.tmall.com) will run its promotion three times a day, allowing Beijing-based Internet users a chance to win ‘red packets’ that subsidize their grocery purchases. The promotion will end on July 31st.
Alibaba Group Holding Limited, through its auxiliaries, operates as an online and mobile commerce company in the People’s Republic of China and internationally. It operates Taobao Marketplace, an online shopping destination; Tmall, a third-party platform for brands and retailers; Juhuasuan, a group buying marketplace; Alibaba.com, an online wholesale marketplace; Alitrip, an online travel booking platform; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace.
Finally, PBF Energy Inc. (NYSE:PBF), ended its last trade with 0.74% gain, and closed at $30.06.
PBF Energy declared that it will release its earnings for the second quarter 2015 on Thursday, July 30, 2015. The company will host a conference call and webcast regarding second quarter results and other business matters on Thursday, July 30, 2015, at 8:30 a.m. ET.
PBF Energy Inc., together with its auxiliaries, engages in the refining and supply of petroleum products. It produces gasoline, ultra-low-sulfur diesel, heating oil, jet fuel, lubricants, petrochemicals, and asphalt, in addition to unbranded transportation fuels, heating oil, petrochemical feedstocks, and other petroleum products.
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