On Tuesday, Shares of Freeport-McMoRan Inc. (NYSE:FCX), lost -3.41% to $11.61.
Freeport-McMoRan Inc., stated a net loss attributable to common stock of $3.8 billion, $3.58 per share, for third-quarter 2015 and $8.2 billion, $7.77 per share, for the first nine months of 2015, contrast with net income attributable to common stock of $552 million, $0.53 per share, for third-quarter 2014 and $1.5 billion, $1.47 per share, for the first nine months of 2014. FCX’s net loss attributable to common stock comprises net charges totaling $3.7 billion, $3.43 per share, for third-quarter 2015 and $8.1 billion, $7.71 per share, for the first nine months of 2015, primarily for the reduction of the carrying value of oil and gas properties and other items. Net income attributable to common stock for the 2014 periods comprised net charges totaling $114 million, $0.11 per share, for third-quarter 2014 and $236 million, $0.23 per share, for the first nine months of 2014.
REVISED OPERATING PLANS AND OIL AND GAS REVIEW
During third-quarter 2015, FCX took aggressive actions to enhance the outlook for free cash flow generation at low commodity prices, counting further reductions in capital spending, production curtailments at certain mining operations and actions to reduce operating, exploration and administrative costs. These actions comprise:
- A 29 percent reduction in estimated 2016 capital expenditures (from $5.6 billion to $4.0 billion), counting:
- A 25 percent reduction in estimated mining capital expenditures (from $2.7 billion to $2.0 billion)
- A 30 percent reduction in estimated oil and gas capital expenditures (from $2.9 billion to $2.0 billion)
- Production curtailments at certain North and South America copper mines
- Reductions in mining operating costs.
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 GrubHub Inc. (NYSE:GRUB), declined -28.68% to $24.49, during its last trading session.
GrubHub, declared financial results for the quarter ended September 30, 2015.
Third Quarter 2015 Highlights
The following results reflect the financial performance and key operating metrics of our business for the three months ended September 30, 2015 as contrast to the same period in 2014.
Third Quarter Financial Highlights
- Revenues: $85.7 million, a 38% year-over-year improvement from $61.9 million in the third quarter of 2014.
- Non-GAAP Adjusted EBITDA: $21.5 million, a 5% year-over-year improvement from $20.4 million in the third quarter of 2014.
- Net Income: $6.9 million, or $0.08 per diluted share, a 6% year-over-year improvement from $6.5 million, or $0.08 per diluted share, in the third quarter of 2014.
- Non-GAAP Net Income: $11.5 million, or $0.13 per diluted share, a 13% year-over-year improvement from $10.1 million, or $0.12 per diluted share.
Third Quarter Key Business Metrics Highlights
- Active Diners were 6.43 million, a 41% year-over-year improvement from 4.57 million Active Diners in the third quarter of 2014.
- Daily Average Grubs were 211,500, a 22% year-over-year improvement from 172,700 Daily Average Grubs in the third quarter of 2014.
- Gross Food Sales were $554 million, a 31% year-over-year improvement from $424 million in the third quarter of 2014.
GrubHub Inc., together with its auxiliaries, provides an online and mobile platform for restaurant pick-up and delivery orders in the United States. The company connects about 35,000 local restaurants with diners in about 900 cities. It operates GrubHub and Seamless Websites through grubhub.com and seamless.com.