News Snapshot:
Freeport McMoRan (NYSE:FCX) +0.7% in Wednesday's trading after reporting better than expected Q4 adjusted earnings and revenues that nevertheless fell from a year ago in an environment of lower copper prices and higher costs. Freeport (FCX) said Q4 GAAP net income fell to $697M, or $0.48/share, from $1.11B, or $0.74/share, a year earlier, while revenues slid 6% to $5.76B from $6.16B in the prior-year quarter. The miner said its average Q4 copper price fell to $3.77/lb from $4.42/lb in the year-earlier quarter; copper futures currently trade at ~$4.20/lb, near their highest level since May 2022. Q4 consolidated sales totaled 1.07B...
