On Friday, Shares of Freeport-McMoRan Inc. (NYSE:FCX), lost -0.40% to $10.03.
U.S. miner Freeport-McMoRan said on Friday it predictable the resumption of copper concentrate exports from Indonesia to be delayed further while buyers adjusted to rules that stopped shipments from its Grasberg complex last month, according to Reuters.
Earlier this year Indonesia introduced rules making it compulsory for exporters of coal, palm oil, oil and gas and minerals to use letters of credit from domestic banks in an effort to improve transparency and enhance export earnings. Reuters Reports
Freeport obtained an exemption from the rule that expired on July 25.
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 Office Depot, Inc. (NASDAQ:ODP), inclined 3.19% to $7.76, during its last trading session.
Office Depot declared results for the second quarter ended June 27, 2015.
Merged Results
Stated (GAAP) Results
Total stated sales for the second quarter of 2015 were $3.4 billion contrast to $3.8 billion in the second quarter of 2014, a decrease of 10%.
In the second quarter of 2015, Office Depot stated an operating loss of $51 million and a net loss attributable to Office Depot, Inc. of $58 million, or $0.11 loss per share. In the second quarter of 2014, the stated operating loss was $185 million and the net loss attributable to Office Depot, Inc. was $190 million, or $0.36 loss per share.
Adjusted (non-GAAP) Results
Total adjusted sales in the second quarter of 2015 declined 3% contrast to the preceding year period, not taking into account the impact of foreign currency translation, U.S. retail store closures, and sales from the company’s interest in the Grupo OfficeMax joint venture which was sold in August 2014.
Adjusted operating income for the second quarter of 2015 was $73 million contrast to $18 million in the second quarter of 2014. Adjusted net income attributable to Office Depot, Inc. for the second quarter of 2015 was $32 million, or $0.06 earnings per share, contrast to an adjusted net loss of $12 million, or $0.02 loss per share, in the second quarter of 2014.
Office Depot, Inc., together with its auxiliaries, supplies office products and services. The company’s North American Retail division sells an assortment of merchandise, counting office supplies, technology products and solutions, business machines and related supplies, facilities products, and office furniture under various brands through its chain of office supply stores.
Finally, First Industrial Realty Trust Inc. (NYSE:FR), ended its last trade with 0.81% gain, and closed at $21.17.
First Industrial Realty Trust declared that it will launch development of First Park 94, a master-planned business park, in the Kenosha County submarket of Chicago. First Park 94 will be built on 309 acres recently attained by First Industrial in Somers, WI for $13.4 million.
First Industrial’s Phase I plans call for the commencement of infrastructure work and construction of a 600,000 square-foot cross-dock distribution center featuring 36′ clear heights, 185′ truck courts, generous trailer parking, extensive dock-high loading, and an ESFR sprinkler system.
In total, First Park 94 can accommodate about 4.6 million square feet of development counting build-to-suits ranging from 150,000 square feet to 1.5 million square feet. The site is accessible to I-94 from three 4-way interchanges and offers frontage along the Canadian Pacific Railway with potential rail access. First Park 94 is located less than one hour from both O’Hare International Airport and Mitchell International Airport.
First Industrial Realty Trust Inc. is a real estate investment trust. The firm invests in the real estate markets of the United States. It makes investments in industrial properties.
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