On Wednesday, Shares of Freeport-McMoRan Inc. (NYSE:FCX), lost -5.29% to $9.31, as Oil prices tanked on Wednesday after a private report showed an unexpectedly big jump in US stockpiles, adding to concerns about the persistent global oversupply.
US benchmark West Texas Intermediate for delivery in December tumbled US$1.28 to US$42.93 a barrel on the New York Mercantile Exchange, the lowest WTI price since late August.
Brent North Sea crude for December, the global benchmark for oil, finished at US$45.81 a barrel in London, down US$1.63 from Tuesdays settlement.
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. 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 SeaDrill Limited (NYSE:SDRL), declined -5.12% to $6.30, during its last trading session.
Seadrill Limited, is planned to release its third quarter 2015 results on Tuesday November 24th, 2015.
A conference call will be held at 12:00 p.m. EST / 5:00 p.m. GMT on Tuesday November 24th, 2015.
Seadrill Limited, an offshore drilling contractor, provides offshore drilling services to the oil and gas industry worldwide. The company operates through Floaters and Jack-up Rigs segments. The Floaters segment provides drilling, completion, and maintenance services for offshore exploration and production wells. Its drilling contracts regarding semi-submersible rigs and drillships for harsh and benign environments in mid, deep, and ultra-deep waters.
Finally, Shares of Companhia de Saneamento Basico do Estado de Sao Paulo (NYSE:SBS), ended its last trade with 0.42% gain, and closed at $4.73.
Investors wait Companhia de Saneamento Basico (ADR) (NYSE:SBS) to report on November, 12. its quarterly earnings Wall Street analysts expect $0.05 EPS, $0.00 or 0.00% from last year’s $0.05 same quarter earnings. This translates into $33.51 million profit for SBS giving the stock a 24.25 P/E. Of course only in case the $0.05 EPS is accurate. Companhia de Saneamento Basico (ADR)’s Wall Street analysts see -68.75% negative EPS growth, taking into account the $0.16 EPS reported in the previous quarter, About 22,700 shares traded hands. Companhia de Saneamento Basico (ADR) (NYSE:SBS) has declined 19.21% since April 9, 2015 and is downtrending. It has underperformed by 18.76% the S&P500.
The stock opened at $4.84 and closed at $ 4.73. The stock failed to get pushed above the $ 4.84 barrier, the intraday high. Its overall volumes stood at 1,044,390 shares against average volume of 2,081,070 shares, representing a decrease. At current price, the stock is down -41.41 percent from its 52-week high. The stock gain around 7.97% over the week through recent close.
Companhia de Saneamento Basico do Estado de Sao Paulo SABESP provides basic and environmental sanitation services; and supplies treated water on a wholesale basis to residential, commercial, industrial, and governmental customers in the state of Sao Paulo. The company operates through two segments, Water and Sewage.
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