During Tuesday’s Afternoon trade, Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD), lost -15.23% to $2.09, hitting its lowest level.
Advanced Micro Devices, declared that revenue for the second quarter ended June 27, 2015 is predictable to be lower than formerly guided. The company now anticipates second quarter revenue to decrease about 8 percent sequentially, contrast to the previous guidance of down 3 percent, plus or minus 3 percent. The sequential decrease is primarily due to weaker than predictable consumer PC demand impacting the company’s Original Equipment Manufacturer (OEM) APU sales. The company anticipates second quarter channel sales and channel inventory reduction efforts to be in-line with the company’s plans.
AMD will report second quarter 2015 results after market close on Thursday, July 16, 2015. AMD will hold a conference call for the financial community at 2:30 p.m. PT (5:30 p.m. ET) that day to talk about second quarter financial results and to provide information regarding predictable third quarter results.
Advanced Micro Devices, Inc. operates as a semiconductor company worldwide. The company’s products primarily comprise x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs), and semi-custom System-on-Chip (SoC) products.
Shares of Freeport-McMoRan Inc. (NYSE:FCX), declined -6% to $16.77, during its current trading session, hitting its lowest level, as copper prices retreat to hit a five month low level.
Benchmark copper on the London Metal Exchange was falling to its lowest point since Jan. 30 at $5,428.50 a tonne, according to Reuters.
Shares of the natural resources company, together with other copper producers, are slumping today as Greece proposes an emergency euro zone summit, Reuters reports.
In other news, Freeport-McMoRan Inc. declared a cash dividend of $0.1605 per share payable on August 3, 2015 to holders of record as of July 15, 2015 for its common stock.
The August 2015 common stock dividend comprises of $0.05 per share for FCX’s regular quarterly dividend and $0.1105 per share as a special dividend related to the formerly declared settlement of the stockholder derivative litigation approved by the Delaware Court of Chancery in April 2015.
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.
Finally, Vale S.A. (NYSE:VALE), lost -3.65%, and is now trading at $5.41, hitting its lowest level, as the decline in iron ore prices weighs on the world’s largest producer of the steel-making ingredient.
Iron ore prices were slipping by 5.12% to $49.60 a dry metric tonne, according to a price index compiled by Metal Bulletin. The index fell below the $50 level for the first time since April 16.
In other news, Short interest for the stock reduced from 209.392 million shares on May 29, to 195.195 million shares on June 15, falling by 209,392 shares during the period.
The days-to-cover short interest ratio raised from 6.46 days on May 29, to reach 6.67 days on June 15. It is based on an average daily trading volume of 29.263 million shares.
Vale S.A., together with its auxiliaries, engages in the research, production, and sale of iron ore and pellets, nickel, fertilizer, copper, coal, manganese, ferroalloys, cobalt, platinum group metals, and precious metals in Brazil and internationally.
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