Shares of Freeport-McMoRan Inc (FCX: NYSE) dropped -2.94% and closed at $6.76 in the last trading session. The last trading range of the stock ranges between $6.68 and $6.94, as oil prices tumbled on signs that the supply glut will continue.
Crude oil (WTI) is declining by 3.04% to $36.72 per barrel this afternoon and Brent crude is slumping by 3.2% to $36.58 per barrel, according to the CNBC.com index.
Although analysts predictable U.S. crude inventories to decline last week, stockpiles rose by 2.6 million barrels, according to the Energy Information Administration, Reuters reports.
Additionally, Ali al-Naimi, the oil minister of top oil exporter Saudi Arabia, said that they will not lower production, according to the Wall Street Journal.
Based in Phoenix, Freeport McMoRan is a natural resource company with an industry portfolio of mineral assets, oil and natural gas resources, and a production profile.
Freeport-McMoRan Inc. (FCX) is a natural resource company with an industry portfolio of mineral assets, oil and natural gas resources, and a production profile.
EnteroMedics Inc (ETRM: NASDAQ) jumped 32.08% and closed at $0.140 in the last trading session. The last trading range of the stock ranges between $0.10 and $0.17. The company’s Market capitalization is $11.28M with the total Outstanding Shares of 106.40M. EnteroMedics Inc. (ETRM), the developer of medical devices using neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders, recently declared shareholder approval for three proposals: (1) an amendment to the Companys Fifth Amended and Restated Certificate of Incorporation to effect a reverse split of its issued and outstanding shares of common stock; (2) an improvement in the number of shares of common stock authorized for issuance effective after the reverse stock split; and (3) the issuance of shares of the Companys common stock underlying convertible notes and warrants issued by EnteroMedics following the terms of a securities purchase agreement dated November 4, 2015.
With shareholder approval, the EnteroMedics Board of Directors has authorized a 1-for-15 reverse stock split of the Companys common stock, which will be effective for trading purposes as of the commencement of trading on January 7, 2016. As of that date, each 15 shares of issued and outstanding common stock and equivalents will be converted into 1 share of common stock. Any fractional shares of common stock resulting from the reverse stock split will be rounded up to the nearest whole share and any fractional shares of common stock issuable following stock options or warrants will be rounded down to the nearest whole share. EnteroMedics stockholders will receive instructions from its transfer agent, Wells Fargo Bank National Association, as to procedures for exchanging existing stock certificates for new certificates or book-entry shares.
Shares of Peoples United Financial, Inc (PBCT: NASDAQ), ended its last trade with -1.03% loss, and closed at $16.35. The Average Volume of the company is at 3.97M with the Outstanding Shares of 310.23M. The Earnings per Share of the company stands at $0.84. On December 16, Peoples United Financial, Inc. (PBCT) declared recently it will host a conference call to discuss its fourth quarter and full year 2015 results on Thursday, January 21, 2016 at 5 p.m. ET, following the release of results at about 4 p.m.
The call will be broadcast live through the companys Internet site, peoples.com. It is accessible by selecting Investor Relations in the About Us section on the home page, and then selecting Conference Call in the News and Events section.
The call will be archived on the site and available for retrieval for about 90 days.