On Thursday, Shares of Freeport-McMoRan Inc. (NYSE:FCX), lost -3.99% to $19.74.
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.
Shares of FreeSeas Inc. (NASDAQ:FREE), declined -13.04% to $0.08, during its last trading session.
FreeSeas Inc., declared that the Company’s Amended and Restated Articles of Incorporation are being amended to effect a reverse stock split of the Company’s issued and outstanding common stock at a ratio of one new share for every 50 shares presently outstanding.
The Company anticipates that its common stock will start trading on a split-adjusted basis when the market opens on June 26, 2015. FreeSeas’ common stock will continue to trade under the symbol “FREE.” The common shares will also trade under a new CUSIP number Y26496193.
The reverse stock split will consolidate 50 shares of common stock into one share of common stock at a par value of $.001 per share. The reverse stock split will not affect any shareholder’s ownership percentage of FreeSeas’ common shares, except to the limited extent that the reverse stock split would result in any shareholder owning a fractional share. Fractional shares of common stock will be rounded up to the nearest whole share.
FreeSeas Inc., through its auxiliaries, provides drybulk shipping services. Its vessels carry various drybulk commodities, such as iron ore, grain, and coal, in addition to bauxite, phosphate, fertilizers, steel products, cement, sugar, and rice.
Finally, Carnival Corporation (NYSE:CCL), ended its last trade with 0.40% gain, and closed at $50.04, hitting its highest level.
Analysts at Credit Suisse raised their price target on Carnival Corporation, to $58 from $55 on Wednesday morning. The firm also upped its estimates on the cruise operator to $3.38 per share from $3.20 per share for fiscal 2016.
For fiscal 2017 Credit Suisse raised its estimate to $3.91 per share from $3.73 per share.
The firm said it raised its numbers on Carnival given the company’s better execution and pricing. Credit Suisse maintained its “outperform” rating on Carnival stock.
Carnival Corporation operates as a cruise company worldwide. It provides vacations to various cruise destinations. The company offers cruise services under the Carnival Cruise Lines, Holland America Line, Princess Cruises, and Seabourn brand names in North America; and AIDA Cruises, Costa Cruises, Cunard, and P&O Cruises names in Europe, Australia, and Asia.
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