Re: fcx up 10%????
geesh, fcx a leading indicator? try RGLD.
sox dumping players and the royals pick up Cueto and Zobrist. hmmm.
although I hope it doesn't upset the Royals' chemistry.
Tommy boy went down today, but you'll try to blame the heartland for it.
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Freeport-McMoRan Inc. (NYSE: FCX) says it is will study ways to cut capital spending, operating and administrative costs for its mining and oil/gas operations. Officials say they will report on revised plans during the third quarter. The company is often thought of as the world's largest publicly traded copper company, but is also a major miner of gold as a by-product. The review is in response to falling prices for commodities, officials say. "We are responding aggressively to current market conditions affecting our primary products and to the uncertain global economic outlook," says a joint statement from James R. Moffett, board chairman; Richard C. Adkerson, vice chairman and chief executive officer; and James C. Flores, vice chairman and chief executive officer of the oil/gas division. "These initiatives are focused on maximizing cash flow in a weak commodity environment and on strengthening the company’s financial position. We appreciate the efforts and dedication of our global organization who are supporting our plans to implement revised operating plans. We have a positive long-term view for our markets, the inherent values in our large asset base and are positioning our company for long-term success."