Freeport-McMoRan (NYSE: FCX) reported a net loss attributable to common stock of $1.85 billion, $1.78 per share, for second-quarter 2015 and $4.3 billion, $4.16 per share, for the first six months of 2015, compared with net income attributable to common stock of $482 million, $0.46 per share, for second-quarter 2014 and $992 million, $0.95 per share, for the first six months of 2014.
Because our stock market crystal ball on all of this is still pretty hazy, we are once again suggesting that you focus on the larger players with the stronger balance sheets. Many of the smaller, more leveraged miners and metals producers may not survive if commodity prices stay low for a prolonged period.
The Dow Chemical Company (NYSE: DOW) announced that it has signed a definitive agreement under which AgroFresh, its post-harvest specialty chemical business, will be acquired by Boulevard Acquisition Corp. (NASDAQ: BLVD, BLVDU, BLVDW), a public investment vehicle, formed by Avenue Capital Group, for $860 million, or 9.2x EBITDA multiple based on 2014 earnings.
George Putnam has suceessfully invested in distressed companies for nearly 30 years and The Turnaround Letter's market-beating returns demonstrate the profit potential. He knows all the pitfalls, too--which he shares in this free report!
10 of 2015's 12 sale recommendations have seen profits. Four of those stocks--GLW, WEN, FCH and BLDR--enjoyed total returns of 100% or higher, and our readers locked in an average gain of 69% with this year's closed out stock picks.
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2015 Stock Profit
George Putnam's Turnaround Letter has seen considerable stock profit in 2015: 10 of this year's 12 sale recommendations have seen increases.
Four of those enjoyed total returns of 100% or higher--and 2015's closed out stock picks have realized an average gain of 69% thus far.