On Wednesday, Freeport-McMoRan Inc (NYSE:FCX)’s shares declined -2.94% to $6.76. Freeport-McMoRan Inc. (FCX) declared that James R. Moffett, Chairman of the Board, co-founder, and long-time executive, will step down from FCX’s Board of Directors and as Executive Chairman. Mr. Moffett, who has been named Chairman Emeritus, has agreed to become a consultant to the FCX Board, counting providing advisory services in support of the company’s ongoing talk aboutions with the Indonesian Government regarding its Contract of Work.
The Board has elected Gerald J. Ford as Non-Executive Chairman. Mr. Ford has served as FCX’s Lead Independent Director since 2013.
Richard C. Adkerson, Vice Chairman, continues as President and Chief Executive Officer.
“During his over 50-year career in the natural resource industry, Jim Bob has become an icon as an explorationist,” said Gerald J. Ford. “Freeport-McMoRan has been built from his exceptional leadership, strong work ethic and vast knowledge of both the industry and our company’s operations.”
Richard C. Adkerson, stated: “It has been an honor and a privilege to have benefited from Jim Bob’s broad experience, commitment and support throughout the years.”
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.
Pep Boys - Manny Moe & Jack (NYSE:PBY)’s shares dropped -2.90% to $18.39.
Icahn Enterprises L.P. (NASDAQ: IEP) and The Pep Boys – Manny, Moe & Jack (“Pep Boys”; NYSE: PBY) declared that they have reached a definitive merger agreement under which a partner of Icahn Enterprises will acquire Pep Boys, one of the nation’s leading automotive aftermarket service and retail chains, in an all-cash transaction for $18.50 per share, or about $1.031 billion in aggregate equity value. The merger agreement has been unanimously approved by the Boards of Directors of both companies.
Pep Boys, headquartered in Philadelphia, has been one of the nation’s leading automotive aftermarket chains since 1921. From more than 800 locations in 35 states and Puerto Rico, Pep Boys offers tires, maintenance and repair and parts and accessories.
“This was a terrific opportunity to leverage the financial resources and industry knowledge of Icahn Enterprises to the benefit of Pep Boys’ customers, manufacturer partners and employees and further bolster our U.S. automotive footprint,” said Carl C. Icahn, Chairman of Icahn Enterprises. “Since our acquisition of Auto Plus, our wholly-owned automotive aftermarket company, in June, we have been actively looking for an excellent synergistic acquisition opportunity like Pep Boys, which has enormous growth potential, strong brand recognition, and well-known, best-in-class customer service.”
The Pep Boys Manny, Moe & Jack, together with its auxiliaries, engages in the automotive aftermarket service and retail business in the United States and Puerto Rico. The company’s service locations offer a range of automotive maintenance and repair services; and install tires, parts, and accessories.’
Mastercard Inc (NYSE:MA)‘s shares dipped -0.85% to $98.87. The last trading range of Mastercard Inc (NYSE:MA ) ranges between $98.73 and $99.96. The EPS of the company stands at $3.25. The 52-week range shows that the stock reached higher at $101.76 while its lower range is $74.61 in the last 52-weeks. The average volume of the company is at 3.44 million with the Outstanding Shares of 1.10 billion. The market capitalization of the company is $111.96 billion. The Beta of the company stands at 0.81 with the RSI (Relative Strength Index) of 52.41.
MasterCard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company facilitates the processing of payment transactions, counting authorization, clearing, and settlement, in addition to delivers related products and services. It also offers value-added services, such as loyalty and reward programs, and information and consulting services.
