On Friday, Freeport-McMoRan Inc (NYSE:FCX)’s shares declined -4.15% to $9.70.
Freeport-McMoRan Inc. (FCX) declared revised capital and operating plans in response to the recent decline in copper prices resulting in reduced capital expenditures, lower production levels and lower operating, administrative and exploration costs. These actions are the results of the formerly declared review of operating plans for FCX’s mining business.
Since 2013, FCX’s business strategy for its global mining business has been focused on the completion of three major organic growth projects in the U.S., South America and Africa and on its long-term development plans in Indonesia, while aggressively managing operations to position the company for long-term free cash flow generation to be used for debt reduction and returns to shareholders. FCX has successfully accomplished expansions at its Tenke Fungurume mine in Africa and its flagship U.S. Morenci mine, which are providing noteworthy cash flows despite recent declines in copper prices. With the imminent completion of the Cerro Verde project and access to projected higher grades at Grasberg startning in 2016, FCX is positioned to generate strong cash flows for debt reduction. In response to recent declines in commodity prices and the current weakness in global economic conditions, FCX is undertaking aggressive actions to modify its operations and spending plans to enhance its financial performance.
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. The company operates through North America Copper Mines; South America Mining; Indonesia Mining; Africa Mining; Molybdenum Mines; United States (U.S.) Oil and Gas Operations; Rod & Refining; and Atlantic Copper Smelting & Refining segments.
Intel Corporation (NASDAQ:INTC)’s shares dropped -1.93% to $28.52.
Intel Corporation declared a 10-year collaborative relationship with the Delft University of Technology and TNO, the Dutch Organisation for Applied Research, to accelerate advancements in quantum computing. To achieve this aim, Intel will invest US$50 million and will provide noteworthy engineering resources both on-site and at Intel, in addition to technical support.
Quantum computing holds the promise of solving complex problems that are practically insurmountable recently, counting intricate simulations such as large-scale financial analysis and more effective drug development. Quantum computing is an area of research that Intel has been exploring because it has the potential to augment the capabilities of tomorrow’s high performance computers.
Intel Corporation designs, manufactures, and sells integrated digital technology platforms worldwide. It operates through PC Client Group, Data Center Group, Internet of Things Group, Mobile and Communications Group, Software and Services, and All Other segments.
At the end of Friday’s trade, Netflix, Inc. (NASDAQ:NFLX)‘s shares dipped -2.25% to $98.79.
Netflix (NFLX), the world’s leading Internet TV network, and Hudson Pacific Properties (HPP) recently declared a contract in which Netflix will lease a noteworthy portion of the ICON office tower at Sunset Bronson Studios.
The growing Southern California staff of Netflix is predictable to occupy 200,052 square feet at ICON, part of a nearly $200 million creative office development presently under construction along Hollywood’s thriving Sunset Corridor. The deal is the largest office lease signed to date in Hollywood in terms of square feet.
Netflix, Inc., an Internet television network, engages in the Internet delivery of TV shows and movies directly on TVs, computers, and mobile devices in the United States and internationally. The company operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. It also provides DVDs-by-mail membership services. The company has about 57 million customers in about 50 countries. Netflix, Inc. was founded in 1997 and is headquartered in Los Gatos, California.
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