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Natural resource company $FCX said it has reduced its CapEx for 2016 and 2017 from $2Bil per year in 2016 and 2017 to $1.8Bil in 2016 and $1.2Bil in 2017, including idle rig costs. $FCX is also planning additional curtailments in its copper and molybdenum production.
The U.S. Treasury will be receiving $10 billion as dividends from the combined government-backed mortgage giants Fannie Mae and Freddie Mac. This is a sign that a recovered housing market is allowing the once-ailing firms to subsidize federal government spending.
$CSCO shift from hardware to becoming a software behemoth seems to be working for the company so far. Stock has seen a steady rise since the change. But is it sustainable?
Heard about the next generation iPhone. Going by the reports, it is believed that $AAPL will release three iphones this year.