December 06, 2012 at 13:03 PM EST
Freeport-McMoRan Extends Losses
Shares of Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) continued falling by dropping $1.46 to $30.70 after announcing plans yesterday to acquire McMorRan Exploration Co. (NYSE: MMR) and Plains Exploration & Production Co. (NYSE: PXP) for approximately $9 billion. McMoRan Exploration stock lost 67 cents to $15.15 while shares of Plains Exploration fell $1.20 to $43.30.
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