On Friday, Shares of Freeport-McMoRan Inc. (NYSE:FCX), lost -1.90% to $8.25, as copper prices decline on a stronger dollar.
As the dollar strengthens, commodities priced in the greenback, such as copper, become relatively more expensive for foreign buyers.
Ultimately commodities are going to continue heading lower (because) theres anticipation of China slowing down, Europe slowing down and the dollar getting stronger, Daniel Pavilonis, a senior market strategist with RJO Futures, told the Wall Street Journal.
Freeport-McMoRan Inc. (NYSE:FCX), 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. The company operates through North America Copper Mines; South America Mining; Indonesia Mining; Africa Mining; Molybdenum Mines; United States (U.S.) Oil and Gas Operations; Rod & Refining; and Atlantic Copper Smelting & Refining segments.
Shares of Keurig Green Mountain, Inc. (NASDAQ:GMCR), declined -0.92% to $47.44, during its last trading session.
Keurig Green Mountain, declared its business results for the 13 weeks and 52 weeks ended September 26, 2015.
Net Sales by Product
Net sales of $1.0 billion reduced 13% as contrast to the prior year period with declines in brewer sales and pod sales. The net sales decline comprises an unfavorable impact from foreign currency exchange rates of about 2%.
- Pod net sales were driven by a 4% decrease in equivalent servings2 volume and an about 6% decrease due to product mix. This was partially offset by an about 2% improvement due to net price realization.3 Foreign currency exchange rates negatively influenced pod net sales by about 2%.
- For the Company’s U.S. At Home business, pod volumes fell by 3%. The Company typically sees a build in customer and retailer inventory in the fourth quarter in advance of the holiday season. In the fourth quarter of 2014, the Company saw a much larger build in such inventories, due in part to the SAP transition in the first quarter of 2015. While shipments were influenced by this comparison, consumer demand for pods as measured by retail sales remains healthy. The Company estimates that retail unit sales of pods grew 7% in the fourth quarter of 2015.
Keurig Green Mountain, Inc. (NASDAQ:GMCR), Inc. produces and sells coffeemakers and specialty coffee in the United States, Canada, and internationally. The company sources, produces, and sells coffee, hot cocoa, teas, and other beverages under K-Cup, Vue, Rivo, K-Carafe, K-Mug, and Kold brands; and coffee in traditional packaging, counting bags and fractional packs, in addition to offers whole bean and ground coffee in bags, fractional packages, and cans.
Finally, Shares of Credit Suisse Group AG (NYSE:CS), ended its last trade with -3.11% loss, and closed at $22.46.
Credit Suisse Group AG is reviewing its pay structure for 12 top executives after scrapping profitability targets under a strategy introduced by new Chief Executive Officer Tidjane Thiam, according to Bloomberg.
As part of the overhaul declared last month, Credit Suisse named six new members to its executive board, while four stepped down. It also scrapped return-on-equity and cost-to-income ratios as targets. The bank had used both measures to evaluate the performance of executive board members.
“As a result of the comprehensive changes in our planned direction and organizational structure declared on October 21, 2015, counting administration changes, the 2015 compensation structure is under consideration,” Credit Suisse said in a prospectus to shareholders Monday.
Credit Suisse is seeking to raise about 6 billion francs ($5.9 billion) in equity to fund the new strategy and cover raised regulatory demands for capital. The bank projects 1.3 billion francs in restructuring costs. Bloomberg Reports
Credit Suisse Group AG, together with its auxiliaries, provides various financial services to private, corporate, institutional, government clients, and high-net-worth individuals, in addition to affluent and retail clients worldwide. The company operates through two segments, Private Banking & Wealth Administration and Investment Banking.
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