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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. $FCX has decided to amend its net debt/EBITDA leverage ratio from the previous limit of 4.75x to 5.5x at December 31, 2015, 5.9x for 1H16, stepping down to 5x by 2016-end and 4.25x in 2017.
Visa ($V) set to release it earning after market close today. With new CEO resigning so close to the earnings, should we expect to see any surprises? Visa has been making strong moves with Visa Europe acquisition, partnership with PayPal and a 15% increase if quarterly dividends.
Kimberly Clark Corp ($KMB) has been in decline for most of the year, the stock has also not been getting any analyst love. Will today’s earnings break the trend? Revenue has been up and down in the last four quarters, let us see what this quarter brings.
$KMB down close to 4% after it misses on earnings and revenue. Forecasts are lower for the year.