FCX - Freeport-McMoRan Inc.
| Previous Close | 13.35 |
| Open | 13.40 |
| Bid | 0.00 x 1000 |
| Ask | 0.00 x 1200 |
| Day's Range | 13.08 - 13.40 |
| 52 Week Range | 9.60 - 19.74 |
| Volume | 23,876,816 |
| Avg. Volume | 23,582,720 |
| Market Cap | 19.157B |
| Beta (3Y Monthly) | 1.58 |
| PE Ratio (TTM) | 7.43 |
| EPS (TTM) | 1.78 |
| Earnings Date | Apr 22, 2019 - Apr 26, 2019 |
| Forward Dividend & Yield | 0.20 (1.53%) |
| Ex-Dividend Date | 2019-01-14 |
| 1y Target Est | 14.29 |
- Zacks•15 hours ago
Freeport-McMoRan (FCX) Up 23.6% Since Last Earnings Report: Can It Continue?
Freeport-McMoRan (FCX) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
- MarketWatch•yesterday
Will copper’s revival last? China is the X-factor
Some analysts see further gains for copper ahead. Others warn the commodity’s path isn’t clearly bullish, given its close ties to demand from China, its biggest consumer.
- Barrons.com•2 days ago
Will Copper’s Revival Last? China Is the X-Factor.
Others, however, warn that copper’s path isn’t clearly bullish, given its close ties to demand from China, its biggest consumer. “We could witness enormous growth in what I believe is the ‘metal of the future’, thanks to [copper’s] exceptional [electrical] conductivity and the lack of competitively priced alternative metal,” says Frank Holmes, chief executive at U.S. Global Investors. Holmes expects copper to rise on increased demand for renewable energy and electric vehicles and a “looming supply gap.” Electric vehicles consume three to four times as much of the metal as those powered by traditional internal-combustion engines, he says.
- MarketWatch•2 days ago
Harry Boxer’s stocks to watch include Aphria and Freeport-McMoRan
Aphria (APHA) gained 44 cents to $10.15 Wednesday on 7.8 million shares traded. On Feb. 15 the Canadian cannabis producer said a probe of acquisitions in Latin America found certain board members had conflicts, but that the price paid was comparable to rival deals. The software developer reported better-than-expected quarterly financial results Tuesday.
- CNBC•3 days ago
Traders are betting this mining stock is ready for a rally
Freeport-McMoRan FCX is on a tear, up more than 30 percent in 2019 and fresh off its upgrade from Citigroup. Freeport-McMoRan's upgrade stems from Citi's valuation of their domestic core assets as favorably positioned to take advantage of what they see as a longer-term copper rally, and it's giving the already busy stock an extra jolt. "We saw about three times the average daily call volume in Freeport-McMoRan, and this is a name that creates quite a lot of calls to begin with.
- Market Realist•4 days ago
Freeport Looks Solid as Long-Awaited Supply Disruption Hits
Freeport Looks Solid as Long-Awaited Supply Disruption HitsFreeport Freeport-McMoRan (FCX), the leading US-based copper miner, has been strong this year. The stock has seen upwards price action of 27.5% so far in the year based on its closing prices
- InvestorPlace•4 days ago
Wednesday’s Vital Data: Walmart, Freeport McMoran and CVS
U.S. stock futures are circling unchanged this morning. The quiet open comes after stocks extended their rally Tuesday. Small-caps led the charge, notching their seventh up day in a row.But it was gold that stole the limelight. Weakness in the dollar fueled a breakout that sent the yellow metal to a new 10-month high. Gold prices have now risen 15.5% since bottoming last August at $1,167.10.Against this backdrop, futures on the Dow Jones Industrial Average are down 0.07% and S&P 500 futures are lower by 0.02%. Nasdaq-100 futures have added 0.13%.InvestorPlace - Stock Market News, Stock Advice & Trading TipsCompared to Friday's enthusiastic bid for call options, demand for derivatives fell dramatically yesterday. Only about 16.6 million calls traded, compared to 13.7 million puts. The continued market strength has all but erased investors' desire for put protection.Given the ultra-low reading in the CBOE single-session equity put/call volume ratio on Friday, it's no surprise the reading popped back. This is common once cooler heads prevail following a mad dash for calls. The measure lifted to 0.61 while the 10-day moving average held its ground at 0.60.Here are three hot stocks landing atop the most-actives list. Walmart (NYSE:WMT) soared after reporting robust e-commerce sales during the fourth quarter. Freeport-McMoran (NYSE:FCX) scored a mouth-watering breakout on the heels of strength in gold and copper prices. Finally, CVS (NYSE:CVS) options were hot ahead of this morning's report.Let's take a closer look: Walmart (WMT)Walmart laid fears of a poor holiday performance to rest yesterday by reporting impressive fourth-quarter earnings results. The retail ringleader earned $1.41 per share on revenue of $138.8 billion. It also announced a boost in its quarterly dividend from 52 cents to 53 cents. Investors were particularly excited with its growth in e-commerce sales, which showed the company is faring very well in an Amazon-dominated world. For the full year, WMT's e-commerce sales grew by 40%. * 10 Smart Money Stocks to Buy Now Though its early-morning gains were trimmed by the closing bell, WMT stock still closed 2.21% higher amid strong volume. With the stock perched well above rising moving averages across all time frames, the path of least resistance is higher. That means price dips are buying opportunities.On the options trading front, calls ruled the roost. Total activity increased to 380% of the average daily volume, with 148,710 total contracts traded. 67% of the trading came from call options.With the uncertainty of earnings now in the rearview mirror, implied volatility sunk like a stone to 19%. That places it at the 23rd percentile of its one-year range. Premiums are now pricing in daily moves of only $1.21, or 1.8%. Freeport-McMoran (FCX)Mining stocks are on the mend. Buoyed by renewed strength in copper and gold, not to mention investors' newfound infatuation with small-caps, Freeport-McMoran scored a 6.6% gain on Tuesday. And it's up another 2% in premarket trading.A survey of the news revealed few developments of note, so traders should view yesterday's surge as a technical-driven move. On top of the jump in commodity prices fueling the rally, FCX also broke above a critical resistance level. Chart watchers know breakouts tend to bring all the buyers to the yard.Before this week, the $12.70 zone had kept a lid on previous rally attempts. But no longer! FCX has a date with $15, so consider that the next upside target.As far as options trading goes, the resistance breach had speculators bidding up calls all day long. Activity jumped to 276% of the average daily volume, with 167,437 total contracts traded. Calls accounted for 77% of the day's take.Implied volatility held firm at 44%, keeping it at the 29th percentile of its one-year range. With premiums pricing in 37-cent moves, traders continue to anticipate daily fluctuations of 2.8%. CVS Health (CVS)CVS stock is tumbling 8.8% after reporting mixed results for the fourth quarter. The company raked in earnings of $2.14 on revenue of $54.42 billion. According to Refinitiv's survey of analysts, the Street was anticipating earnings of $2.05 on $54.58 billion in revenue.The rally that carried CVS into today's earnings is being rapidly unwound premarket. At $63.79, the stock is poised to open near its low for 2019. Major support looms at $62.50 so if that gives way, watch out below.On the options trading front, calls dominated the session. Needless to say, traders who were buying in hopes of an up-gap will be sorely disappointed this morning. Total activity ramped to 397% of the average daily volume, with 99,374 total contracts traded. Calls contributed 70% to the session's sum.The expected move heading into earnings was $2.43, so this morning's -$5.86 thrashing falls well outside of expectations. Chalk this up as a win for volatility buyers. Implied volatility should fall on the day, but it's descent could be muted in light of the blowout gap.As of this writing, Tyler Craig didn't hold a position in any of the aforementioned securities. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 10 Best Cheap Stocks to Buy Right Now * 5 Stocks Under $5 to Buy Before They Soar * 5 Consumer Stocks to Cash Out Of Compare Brokers The post Wednesday's Vital Data: Walmart, Freeport McMoran and CVS appeared first on InvestorPlace.
- CNBC•4 days ago
Your first trade for Wednesday, February 20
The " Fast Money " traders shared their first moves for the market open.Tim Seymour was a buyer of U.S. Steel X .Brian Kelly was a buyer of Freeport-McMoRan FCX .Karen Finerman was a buyer of Target TGT .
- InvestorPlace•4 days ago
3 Big Stock Charts for Wednesday: Freeport-McMoRan, Cabot Oil & Gas and Microsoft
It wasn't a particularly pretty effort, but the bulls managed to get the job done on Tuesday. The S&P 500 ended yesterday's action up 0.15%, possible solidifying the recent move above the 200-day moving average line. Meanwhile, the Nasdaq finally crossed above its long-term moving average line, gaining 0.19%. Neither move unfurled on especially strong volume.Ford (NYSE:F), amazingly enough, led the way with its 3.4% advance in response to news that it was shuttering commercial truck operations in Brazil. Walmart (NYSE:WMT) rallied 2.2% on the heels of another surprisingly strong quarterly report.At the other end of the spectrum, Uniti Group (NASDAQ:UNIT) fell more than 30% while former parent Windstream Holdings (NASDAQ:WIN) saw its stock tumble more than 60% after a federal judge ruled that the split of the two companies violated a key covenant of one of its bond issues. The potential liability isn't entirely clear. What is clear, however, as that investors see more than a little bit of liability in the matter.InvestorPlace - Stock Market News, Stock Advice & Trading TipsHeaded into Wednesday's trading, the stock charts of Cabot Oil & Gas (NYSE:COG), Freeport-McMoRan (NYSE:FCX) and Microsoft (NASDAQ:MSFT) are of the most interest. The rising tide has started to pull these names out of their respective ruts. Freeport-McMoRan (FCX)In late November, Freeport-McMoRan shares were teasing with a bounce. They'd fallen roughly 50% from the early 2018 peak, but the selling looked like it had come to a climax. Things looked like they couldn't get any worse for FCX. * 7 Financial Stocks With Accelerating Growth As it turns out, they were able to get a little worse. Following a small recovery effort in early December, Freeport-McMoRan ended up making an even lower low in late December. Ever since then, however, the then-oversold stock has made huge progress that suggests it has shaken off all that weakness. Click to Enlarge • The new uptrend is most readily evident on the daily chart. FCX stock has pushed above the purple 50-day moving average line that had helped guide it lower for the latter half of last year.• That same daily chart, however, also shows how overextended the stock is now. At least some measure of pushback or profit-taking is in the cards.• Even with a pullback, though, the heavy lifting has been done. We've seen two huge accumulation days since last week. The bulls have tipped their hand. The convergence of the gray 100-day and the blue 20-day moving average lines around $11.70 is the most plausible support area from here, should it be needed. Cabot Oil & Gas (COG)It has undeniably got more to do with the broad (though inconsistent) rebound in the price of crude than it does with Cabot Oil & Gas itself. Nevertheless, of all the oil stocks gearing up for a recovery move, COG stock is better positioned for follow-through than most.You just have to stand back from a distance to see it, and fully appreciate it. Click to Enlarge • While very uneven, Cabot Oil & Gas has made a slow, bowl-shaped move out of last year's downtrend and into an uptrend. We've logged a couple of higher lows since October's bottom.• While it had to be tested multiple times, the key lows between mid and late 2018 confirm the bulls have drawn some sort of line in the sand.• Though the bulls are chipping away at a ceiling, the brewing uptrend would be confirmed by the purple 50-day moving average starting to diverge away from the white 200-day moving average line. Microsoft (MSFT)Finally, it was only a few days back Microsoft shares were hinting at another round of selling. The 100-day moving average line was acting as a ceiling, and another straight-line resistance level was forming.That potential selloff never took hold though. Rather, it was the bulls that persisted, punching through a minor ceiling. Click to Enlarge • The escape from a potential setback is clear enough on the daily chart. MSFT stock bumped into the gray 100-day average several times in January and early February. Shares broke through last week though.• There's still a chance the bears could roll Microsoft over. The expanding trading range, framed with white dashed lines, has established another technical ceiling around $109.00.• Bolstering the bullish argument is the bullish MACD cross that has taken shape as of yesterday.• Working against the budding uptrend is a distinct lack of volume, and the fact that the purple 50-day moving average line is still under the white 200-day average, and the gray 100-day average line is about to pull under the 200-day moving average.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Hot Stocks Leading the Market's Blitz Higher * 7 Strong Buy Stocks With Over 20% Upside * 5 Growthy Stocks Trading Below 15X Earnings Compare Brokers The post 3 Big Stock Charts for Wednesday: Freeport-McMoRan, Cabot Oil & Gas and Microsoft appeared first on InvestorPlace.
- Reuters•4 days ago
Chile says rains have hurt productivity at Codelco copper mines
Intense rains at the start of this month in Chile, the world's top copper miner, likely hurt productivity at state-owned miner Codelco's Chuquicamata and Radomiro Tomic mines, the country's mining minister said Tuesday. Chile's mining industry has lost about $300 million due to the unusually strong rains that destroyed infrastructure and forced some mining operations to be suspended, according to preliminary government figures. "There are some impacts in Chuquicamata and Radomiro Tomic that we think will affect productivity.
- Barrons.com•4 days ago
The Dow Finishes Flat Because All the Good News Is Priced In
With the S&P 500 seeing a 12% rise just seven weeks into the year, one strategist argues that the market has already seen the bulk of its returns for 2019.
- Investor's Business Daily•4 days ago
Copper Prices Signal To Dow Jones Bulls: It's 2016 All Over Again
The breakout of copper prices may be confirmation to Dow Jones bulls betting that 2019 will be a rerun of 2016's China stimulus and a dovish Fed shift.
- CNBC•4 days ago
Freeport-McMoRan could rally another 15 percent before hitting a wall, technical analyst says
Freeport-McMoRan has struck gold, and one technician sees an even bigger rally from here.
- Reuters•4 days ago
US STOCKS-Wall St ekes out gains on upbeat Walmart results
U.S. stocks gained modestly on Tuesday as upbeat results from Walmart boosted investor sentiment and high-level U.S.-China trade talks resumed. All three major U.S. equity indexes edged higher, with the Nasdaq on course for its seventh consecutive day in the black.
- Reuters•6 days ago
Indonesian presidential hopefuls vow energy self-sufficiency through palm
Indonesia's two presidential candidates pledged on Sunday to achieve energy self-sufficiency by boosting the use of bioenergy, particularly fuelled by palm oil, to cut costly oil imports by Southeast Asia's biggest economy. Indonesia, the world's biggest palm oil producer, has been pushing for all diesel fuel used in the country to contain biodiesel to boost palm consumption, slash fuel imports, and narrow a yawning current account gap. In a televised election debate, President Joko Widodo said if he won a second term the government planned to implement a B100 programme, referring to fuel made entirely from palm oil, after last year making it mandatory to use biodiesel containing 20 percent bio-content (B20).
- Reuters•6 days ago
Freeport Indonesia has not received new copper export permit - spokesman
* PT Freeport Indonesia's copper concentrate export permit expired on Feb. 15, and the company has not received export recommendations from the mining ministry that will help it to obtain a new permit, company spokesman Riza Pratama said on Monday in a text message. * The unit of Freeport McMoRan for the time being is shipping part of its production to its smelter in East Java, Pratama said. * He declined to disclose the new export quota it proposed to the government.
- GuruFocus.com•8 days ago
Freeport-McMoRan Inc (FCX) Files 10-K for the Fiscal Year Ended on December 31, 2018
Freeport-McMoRan Inc (NYSE:FCX) files its latest 10-K with SEC for the fiscal year ended on December 31, 2018.
- American City Business Journals•8 days ago
Comparing C-suite pay: What Arizona public company CFOs earn
While chief financial officers of Arizona public companies certainly do well for themselves, most still pale in comparison with their company C-suite leaders, the CEOs.
- Investopedia•9 days ago
Freeport-McMoRan Awakens From Its Long Slumber
Freeport-McMoRan stock has turned higher after posting a negative 46% return in 2018 and could rally into the upper teens.
- InvestorPlace•9 days ago
10 Hot Stocks Leading the Market’s Blitz Higher
A combination of factors is helping push U.S. equities to fresh highs, with the Dow Jones Industrial Average rising to levels not seen since early December on Wednesday.These include hopes of a U.S.-China trade deal (with President Trump reportedly pushing back a tariff deadline), optimism over a budget deal in Congress (hopefully avoiding another government shutdown) and ongoing ease with the Federal Reserve's newly dovish stance.The bulls are going from strength to strength, shifting the focus of their buying as the post-December uptrend matures and changes its nature. From a focus on beaten-down big-cap technology stocks, new areas are piquing the interest of value hunters in areas like energy, industrials and healthcare.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * The 10 Best ETFs You Can Buy With that in mind, here are 10 hot stocks to watch as they lead the market higher: Philips 66 (PSX)Energy stocks like Philips 66 (NYSE:PSX) are coming back to life as crude oil starts to stir, with shares breaking out of a two-month resistance range as the 20-day moving average extends a rise above the 50-day average. Shares were recently upgraded by analysts at Tudor Pickering.The company will next report results on May 10 before the bell. Analysts are looking for earnings of $1.1 per share on revenues of $24.7 billion. When the company last reported on Feb. 8, earnings of $4.87 beat estimates by $1.98 per share on revenues of nearly $29 billion. Hess (HES)Hess (NYSE:HES) is another energy stock to watch, with shares moving to challenge the 200-day moving average to cap what looks like an inverse head-and-shoulders reversal pattern that traces a move to back to the early October high near $75. The company, along with ExxonMobil (NYSE:XOM) recently announced positive results from two offshore wells in Guyana. * 10 'Buy-and-Hold' Stocks to Own Forever The company will next report results on May 1 before the bell. Analysts are looking for a loss of 21 cents per share on revenues of $1.59 billion. When the company last reported on Jan. 30, a loss of 31 cents per share beat estimates by 7 cents on a 30.3% rise in revenues. AMD (AMD)AMD (NASDAQ:AMD) shares are consolidating a recent breakout, with the 20-day moving average extending away from its 50-day and 200-day moving averages presaging a break of prior highs and a challenge of the September levels. This would be worth a gain of more than 50% from here. In its most recent quarter, despite weak guidance from management, investors focused on a 9% increase in revenues for its computing and graphics segment thanks to a ramp in its Ryzen processors.The company will next report results on April 30 after the close. Analysts are looking for earnings of 2 cents per share on revenues of $1.25 billion. When the company last reported on Jan. 29, earnings of 8 cents per share matched estimates on a 5.9% rise in revenues. Microsoft (MSFT)Microsoft (NASDAQ:MSFT) shares look ready to emerge from a sloppy looking downward channel that started back in October with a break above a resistance line near $108. Such a break would set up a challenge of the early December high near $112, which would be worth a gain of 5% from here. * 10 Stocks That Every 20-Year-Old Should Buy The company will next report results on April 25 after the close. Analysts are looking for earnings of $1 per share on revenues of $29.9 billion. When the company last reported on Jan. 30, earnings of $1.10 beat estimates by a penny on a 12.3% rise in revenues. General Dynamics (GD)General Dynamics (NYSE:GD) shares are holding steady above their 20-day and 50-day moving averages, setting up a run at the prior highs near $185, which coincides with the 200-day moving average. Defense stocks have constantly been listed as hot stocks amid fresh tensions with Iran and steady budgetary support from the Trump White House and Congress.The company will next report results on May 1 before the bell. Analysts are looking for earnings of $2.45 per share on revenues of $9.3 billion. When the company last reported on Jan. 30, earnings of $3.07 per share beat estimates by 8 cents on a 25.4% rise in revenues. Deere (DE)Deere (NYSE:DE) is strongly tied to the fate of U.S.-China trade negotiations, given its focus on heavy machinery as well as agriculture equipment used for U.S. food exports. As such, shares are consolidating near prior highs set in early 2018. Watch for an upside breakout following the release of confidence guidance from management. * 7 Reasons to Own Coca-Cola Stock The company will next report results on Feb. 15 before the bell. Analysts are looking for earnings of $1.8 per share on revenues of $6.9 billion. When the company last reported on Nov. 21, earnings of $2.30 per share missed estimates by 15 cents on a 17.6% rise in revenues. DR Horton (DHI)DR Horton (NYSE:DHI) shares have climbed back up and over their 200-day moving average, setting the stage for a sustained move to test the prior high set in August. In its most recent post-earnings call, management noted that buyer traffic remained strong -- raising hopes for a strong spring selling season.The company will next report results on April 26 before the bell. Analysts are looking for earnings of 86 cents per share on revenues of $4 billion. When the company last reported on Jan. 25, earnings of 76 cents per share missed estimates by a penny on a 5.6% rise in revenues. Johnson & Johnson (JNJ)Johnson & Johnson (NYSE:JNJ) shares are extending above their 50-day and 200-day moving averages, looking ready for a run at the prior highs as worries about a baby powder lawsuit fade. The company recently unveiled a plan to buy robotics company Auris Health for roughly $3.4 billion. * 7 Reasons Stock Buybacks Should Be Illegal The company will next report results on April 23 before the bell. Analysts are looking for earnings of $2.1 per share on revenues of $19.7 billion. When the company last reported on Jan. 22, earnings of $1.97 per share beat estimates by 2 cents on a 1% rise in revenues. Under Armour (UAA)Under Armour (NYSE:UAA) shares have bounded above their 200-day moving average to close in on levels not seen since early December, capping a rise of 33% from its recent lows. While shares remain mired in a three-year-old sideways range, watch at the very least for a retest of prior channel highs near $24, which would be worth around a 10% gain from here.The company will next report results on May 14 before the bell. The company last reported results on Feb. 12, with earnings of 9 cents per share beating estimates by 5 cents on a 1.5% rise in revenues. The company remains in turnaround mode here at home, with revenues falling 6% in North America in the most recent quarter. But international growth remains a bright spot, up 24%. Freeport-McMoRan (FCX)Shares of Freeport-McMoRan (NYSE:FCX) are looking ready to emerge from a multi-month basing pattern going back to October, with the 20-day moving average extending a move above its 50-day moving average as the new uptrend gains momentum. The company was recently upgraded by Morgan Stanley analysts citing expectations that the company is likely to see an earnings boost from higher copper prices. * 7 Athletic Stocks That Could Run Higher The company will next report results on April 23 before the bell. Analysts are looking for earnings of 10 cents per share on revenues of $3.8 billion. When the company last reported on Jan. 24, earnings of 11 cents per share missed estimates by 8 cents on nearly a 27% drop in revenues.As of this writing, William Roth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 U.S. Stocks That Are Coming to Life Again * The 7 Best Video Game Stocks to Power Up Your Portfolio! * 5 Tips to Become a Better Stock Trader Compare Brokers The post 10 Hot Stocks Leading the Market's Blitz Higher appeared first on InvestorPlace.
- Market Realist•10 days ago
Freeport-McMoRan: Party Continues as Chinese Copper Imports Surge
Freeport-McMoRan: Party Continues as Chinese Copper Imports SurgeChinese copper imports Freeport-McMoRan (FCX) surged 6.9% yesterday, boosted by an upgrade from Morgan Stanley to “overweight.” The financial services company lowered its price
- InvestorPlace•10 days ago
Thursday’s Vital Data: Eli Lilly, Twitter and Freeport-McMoRan
U.S. stock futures are trading higher again this morning, continuing this relief rally. In premarket action, the futures on the Dow Jones Industrial Average are up 0.46% and S&P 500 are higher by 0.39%. Nasdaq-100 have added 0.52% to yesterday's gains.In the options pits, call buyers were busier than bears yesterday. Markets meandered higher while waiting for some geo-economic news. We still need President Donald Trump to actually sign the agreement to avert a U.S. government shutdown. This rally could disappear quickly if news on that front disappoints. Meanwhile, Wall Street still has one foot out the door. Investors will sell first and ask questions later. Regardless, the action was bullish since we had 18.9 million calls and 15.2 million puts during the session.Markets seem on edge, even when in the green. This is the byproduct of being in headline trading mode while we await news from the tariff talks between the U.S. and China. Nevertheless, the CBOE single-session equity put/call volume ratio remain stable 0.57 versus the the 10-day moving average of 0.62. Sentiment remains positive in spite of the caution.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOptions activity was bullish on Wednesday. This is normal as fear levels abate. Twitter (NYSE:TWTR) was in the news and spiked 4% and the action was also bullish in the options. Freeport-McMoRan (NYSE:FCX) had an even bigger rally, up almost 7% yesterday. The appetite for options was voracious, suggesting more potential to come. Finally, Eli Lilly (NYSE:LLY) wasn't as exciting on the Wednesday scoreboard, but its options action made up for it.Let's take a closer look: Eli Lilly (LLY)Eli Lilly stock might be ready to make a big move. This week the options have been active and the calls have overwhelmed the puts. Yesterday LLY options traded 727 times its daily average volume. While the split favors the bears slightly, it's even enough to leave the bias neutral. * 9 U.S. Stocks That Are Coming to Life Again Usually when options get to be this active, it means that there is an imminent move in the stock. This much action in it above the normal levels is unusual. Such a tense situation will resolve itself soon, but unfortunately we don't know the direction of the breakout.So we rely on the charts and the levels to tell us when to go long or short. Eli Lilly stock is at all time highs so clearly it's having a great year. Shorter term, it is stuck between $120.30 and $118.10 per share. A breach of either side of this range will carry momentum in that direction. The secondary targets from those edges are $121.40 versus $117.05. Those, too, are potential catalyst levels. It is best to trade the triggers rather than anticipate the moves. Twitter (TWTR)Twitter reported earnings recently, and the stock collapsed more than 10% on the headline. This was a shame, since TWTR stock was in the middle of a breakout from $34 per share. Luckily for bulls, on Wednesday it spiked sharply on the 13-F news that Morgan Stanley (NYSE:MS) has a new 5.6% stake in the stock. Investors chased the stock up but closed off the highs.So it is no surprise to see Twitter stock options trade 138 times their daily average. Moreover, 70% of the Wednesday options were calls to only 30% puts. It is clear that traders now expect a rebound from the earnings rout.Before chasing, it is important that it maintains the short-term higher-lows trend. So losing $30.30 would cause a deflation in the immediate rally. Conversely, a breach above $31.82 would trigger a buy signal to fill the earnings gap and target $34 per share. It would be a tall order to expect much more of it here. Freeport McMoRan (FCX)FCX reported earnings in January and the stock fell more than 15% on its heels. Since then, it completely recovered from it. But there might be even more good news and the options markets know it.On Wednesday, FCX options traded 204 times their daily average. More to the point, the mix was 76% calls to only 24% puts and this suggests a very bullish bias. The technicals point to much more upside off the breach of $12.10 per share.If the bulls can continue past $12.30 it could continue on its way to $13 or higher. There are resistance areas in between but this breakout has momentum. The concern from here that this stock moves fast but in both directions. And this fast recovery from earnings left a big gap below that beacons.Tight stops are a must when trading FCX stock. Those who are in it for an investment should trade it according to their fundamental opinions of it. I recently wrote a bullish article about the upside potential in FCX.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. You can follow him as @racernic on Twitter and Stocktwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 U.S. Stocks That Are Coming to Life Again * The 7 Best Video Game Stocks to Power Up Your Portfolio! * 5 Tips to Become a Better Stock Trader Compare Brokers The post Thursdayas Vital Data: Eli Lilly, Twitter and Freeport-McMoRan appeared first on InvestorPlace.
- Investopedia•10 days ago
8 Stocks That Can Lead in a 'Micro-Driven' Market
Morgan Stanley expects stock returns to be driven primarily by company-specific factors in the near-term.
Bloomberg•10 days agoCopper Miner's $10 Billion Bet Comes to Life in Panama Jungle
Cobre Panama, a vast mining and processing complex near Panama’s Atlantic coast, processed its first ore on Monday, a half century after the deposit was discovered. At full production in 2021, it will turn Vancouver-based First Quantum into a top copper producer alongside giants like Freeport-McMoRan Inc. and BHP Group. For Panama, it’s the biggest investment ever outside the canal and makes the Central American country a key supplier to a copper market facing labor unrest and governments grasping for greater takes.
- Motley Fool•10 days ago
Why Freeport-McMoRan, Diebold Nixdorf, and Unisys Jumped Today
Earnings played a key role in helping stocks climb.
