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$FCX said its BoD has suspended the annual common stock dividend of $0.20 per share. This will provide cash savings of about $240MM per annum. $FCX has decided to amend its net debt/EBITDA leverage ratio from the previous limit of 4.75x to 5.5x at December 31, 2015, 5.9x for 1H16, stepping down to 5x by 2016-end and 4.25x in 2017.
Well this is big! I don’t know if it’s someone’s monopoly or genuine excitement, but either way, $CSX is up 23% after market closed. I heard some activist investor is going to blow big money into CSX Corp. Anyone mind explaining?
After so much controversy and family issues in $VIAB over the recent months, Paramount brings in some good news. News is that they signed a $1 billion deal with Shanghai Film Group and Huahua Media. The material impact to Viacom however is still uncertain.
Looks like Uber will be paying $20 million to settle a US Federal Trade Commission lawsuit. FTC accused Uber of false and misleading claims about driver pay and stuff. Uber however neither denied nor admitted and will just be paying the $20 million.