Freeport-McMoRan Inc. Q1 Profit Decreases, but beats estimates
Freeport-McMoRan Inc. (FCX) reported earnings for first quarter that decreased from the same period last year but beat the Street estimates.
The company’s bottom line came in at $663 million, or $0.46 per share. This compares with $1.53 billion, or $1.04 per share, in last year’s first quarter.
Excluding items, Freeport-McMoRan Inc. reported adjusted earnings of $757 million or $0.52 per share for the period.
Analysts on average had expected the company to earn $0.46 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter fell 18.3% to $5.39 billion from $6.60 billion last year.
Freeport-McMoRan Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $663 Mln. vs. $1.53 Bln. last year.
-EPS (Q1): $0.46 vs. $1.04 last year.
-Analyst Estimates: $0.46
-Revenue (Q1): $5.39 Bln vs. $6.60 Bln last year.
Pre-market Movers: WLGS, MGIH, UCAR, AZYO, AMBI…
The following are some of the stocks making big moves in Friday’s pre-market trading (as of 07.45 A.M. ET).
In the Green
Wang & Lee Group, Inc. (WLGS) is up over 96% at $6.08.
Millennium Group International Holdings Limited (MGIH) is up over 61% at $2.67.
Aziyo Biologics, Inc. (AZYO) is up over 26% at $2.10.
Ambipar Emergency Response (AMBI) is up over 19% at $8.74.
ContextLogic Inc. (WISH) is up over 19% at $8.59.
Applied Digital Corporation (APLD) is up over 18% at $3.82.
iSpecimen Inc. (ISPC) is up over 17% at $2.20.
CytoMed Therapeutics Limited (GDTC) is up over 15% at $3.85.
McEwen Mining Inc. (MUX) is up over 12% at $9.76.
U.S. GoldMining Inc. Common stock (USGO) is up over 11% at $10.12.
In the Red
U Power Limited Ordinary Shares (UCAR) is down over 39% at $26.34.
Agile Therapeutics, Inc. (AGRX) is down over 12% at $5.77.
Everbridge, Inc. (EVBG) is down over 10% at $27.04.
Blackboxstocks Inc. (BLBX) is down over 9% at $3.08.
Sociedad Química y Minera de Chile S.A. (SQM) is down over 6% at $73.14.
Big Lots, Inc. (BIG) is down over 6% at $9.12.
UK Deputy Prime Minister Dominic Raab Quits Over Bullying Report
UK Deputy Prime Minister Dominic Raab has stepped down over a report investigating bullying allegations against him.
Raab, who also held the posts of Justice Secretary and Lord Chancellor, had promised to resign if the inquiry found evidence of bullying.
In his letter of resignation, sent to Prime Minister Rishi Sunak, Raab said the investigation by senior lawyer Adam Tolley KC dismissed all but two of the claims against him.
He criticized what he called its flawed findings, saying it sets a “dangerous precedent for the conduct of good government.”
“In setting the threshold for bullying so low, this inquiry has set a dangerous precedent. It will encourage spurious complaints against Ministers, and have a chilling effect on those driving change on behalf of your government – and ultimately the British people,” says the letter that Raab posted on Twitter.
In his opinion, ministers must be able to exercise direct oversight with respect to senior officials over critical negotiations. “Otherwise the democratic and constitutional principle of ministerial responsibility will be lost.”
Raab was investigated on eight formal complaints lodged by several civil servants about his behavior while acting as Foreign Secretary, Brexit Secretary and Justice Secretary.
Prime Minister Sunak has not reacted to the news of the resignation of his close ally from the Cabinet.
NovaBay Pharma Gains On Launch Of Psoriasis Cream On QVC Network
NovaBay Pharmaceuticals, Inc. (NBY) shares are adding more than 9 percent on Friday morning trade after the company announced the launch of DERMAdoctor’s new comfort + joy psoriasis therapeutic moisturizing cream with 3 percent salicylic acid on the QVC network.
Currently, shares are at $1.70, up 11.03 percent from the previous close of $1.53 on a volume of 3,420,628.
Aurubis Q2 Preliminary Operating EBT Down; But Lifts FY Operating EBT Outlook
Aurubis reported preliminary operating earnings before taxes (EBT) of 166 million euros in the second quarter of fiscal year 2022/23 compared to 168 million euros reported last year.
IFRS consolidated earnings before taxes (EBT) were 132 million euros compared to 281 million euros last year.
The company increased its forecast for fiscal year 2022/23. It now anticipates an operating EBT to be between 450 million euros and 550 million euros. The forecast range for operating EBT was previously between 400 million euros and 500 million euros.
The final results for the first half of fiscal year 2022/23 will be released
on May 11, 2023.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
One dead, three hospitalized in Lakewood apartment fire
One person was killed and three others injured in a fire early Friday at a single-story apartment building in Lakewood.
West Metro firefighters rescued a person from the burning building near the intersection of 12th Avenue and Allison Street. Three residents were hospitalized, including the person who died, according to a West Metro Fire posting on Twitter.
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RTD’s A Line, B Line and G Line trains delayed, shuttles deployed
Technical problems with signals Friday forced delays of Regional Transportation District trains, and RTD officials were deploying shuttles.
The RTD’s A Line, B Line and G Line trains were delayed up to 15 minutes, RTD officials announced in a posting on Twitter. The shuttles were replacing A, B, G and N trains.