On Tuesday, Shares of Freeport-McMoRan Inc (NYSE:FCX), gain 2.30% to $9.11, as oil and copper prices rebound.
Oil prices are increasing this morning on estimates of a greater slowdown in U.S. crude production, but the global oversupply is still pressuring prices as other major producers continue pumping oil to maintain their market share, The Wall Street Journal reports.
WTI crude is up 1.98% to $45.31 per barrel, while Brent crude is increasing 2.07% to $48.32 per barrel this morning, according to the CNBC.com index.
Additionally, copper for December delivery is up 0.27% to $2.26 per pound on the COMEX this morning, after falling to a one-month low on Monday.
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. FCX has organized its operations into six primary divisions: North America copper mines, South America mining, Indonesia mining, Africa mining, Molybdenum mines, and United States oil and gas operations.
Shares of Allergan PLC (NYSE:AGN), declined -1.17% to $251.89, during its last trading session.
Allergan plc offered an updated outlook for the second half of 2015. The outlook comprises adjustments related to the forthcoming divestment of its global generics business to Teva Pharmaceutical Industries Limited TEVA, which was declared in Jul 2015. Zacks
While the transaction with Teva is predictable to close in the first quarter of 2016, Allergan will start reporting the generics business as suspended operations from the third quarter of 2015. Zacks
In the second half of 2015, Allergan anticipates revenues to cross $8 billion and earnings to come in the $6.25–$6.65 range from its ongoing operations, which comprise segments like U.S. Brands, U.S. Medical, International Brands and Anda Distribution.
Once the deal with Teva goes through, Allergan anticipates branded revenue growth of 10% and gross margins in the range of 77%–79% with additional long-term expansion anticipated. The company anticipates SG&A expense (as a percentage of revenue) between 21%–24%, declining within that range over time and a tax rate of about 15%.
Allergan said that the interest expense for the company will depend to a large extent on capital deployment decisions following the close of the transaction. Meanwhile, the company, which presently has more than 70 pipeline candidates in mid-to-late stage development across seven therapeutic areas counting biosimilars, anticipates double-digit top-line growth.
Allergan plc develops, manufactures, and distributes generic, branded, biosimilar, and over-the-counter (OTC) pharmaceutical products. It operates in three segments: North American Brands, North American Generics and International, and Anda Distribution.
Shares of The Western Union Company (NYSE:WU), inclined 1.40% to $18.10, during its last trading session.
DCB Bank Limited (formerly Development Credit Bank Ltd.) and Western Union Business Solutions, a business unit of The Western Union Company (WU), declared a new partnership to support small and medium-sized enterprises (SMEs) in India engage in cross-border trade.
Western Union Business Solutions’ global payments technology platform and foreign exchange services will be used by DCB Bank to drive its SME growth strategy and provide such customers with simple, customized solutions for outward remittances from India. Benefits comprise:
- Global correspondent banks: Access to Western Union’s global network of banks to send funds in a cost effective, fast and secure way to suppliers globally.
- Transparent process: Easy access to the transaction status – from initiation to receipt by beneficiary.
- Doorstep service: A dedicated person will visit you to complete all documentation requirements.
- Transparent process: Cross-border payments in a choice of ten currencies, counting Arab Emirates Dirham and Singapore Dollar.
“Many customers are seeing growth in their international business, which matches our own growth as a company,” said Praveen Kutty, Head Retail & SME Banking, DCB Bank Limited. “Now is therefore the right time for us to expand service offerings. With the addition of Western Union Business Solutions’ global payment and FX capabilities, we will deliver stronger, faster, more efficient services that enable customers to manage their international business more successfully than ever.”
The Western Union Company (Western Union) is a global provider of money movement and payment services. The Company classifies its businesses into three: Consumer-to-Consumer, Consumer-to-Business and Business Solutions. The Consumer-to-Consumer operating segment facilitates money transfers between two consumers, primarily through a network of third-party agents.
Finally, JPMorgan Chase & Co. (NYSE:JPM), ended its last trade with -0.25% loss, and closed at $59.83.
JPMorgan Chase & Co (JPM.N) shareholders on Tuesday won court permission to pursue their securities fraud lawsuit against the bank over the London Whale trading scandal, which caused a $6.2 billion loss, as a class action. Reuters
U.S. District Judge George Daniels in Manhattan rejected the largest U.S. banks arguments against class action certification, which often results in higher recoveries because plaintiffs can sue as a group rather than individually. Reuters
JPMorgan, Chief Executive Officer Jamie Dimon and former Chief Financial Officer Douglas Braunstein had said shareholders would be unable to show they relied on alleged misstatements about the banks risk administration, or prove damages on a classwide basis. Reuters
JPMorgan Chase & Co. is a financial holding company. The Company is engaged in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset administration. JPMorgan Chases activities are organized into four business segments.
This article is published by www.stocksnewswire.com. The content included in this article is just for informational purposes only. Stocksnewswire.com takes sensible consideration to ensure that the data given in this article is up to date and accurate. The news, prices, opinions, research, analysis, and other information published in this article are obtained from sources believed to be reliable.
Neither Stocksnewswire.com nor any of Stocksnewswire.com partners make any representation or guarantee as to the fulfillment or precision of the information contained in this article.
Investors must consult their own additional due diligence with any potential investment or highlighted company before making any decision on behalf of information offered by Stocksnewswire.com.
Information contained in this article may contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long-term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward-looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.