Nestle is ready for any kind of opportunity for mergers or acquisitions, claims CEO

While announcing the fiscal results Nestlé’s CEO said in a statement that, if the company sees any break of mergers or acquisitions and if it makes “strategic sense” for Nestle, it plans to go for it without hesitation.

“When it comes to M&A, I think Nestle is no stranger to that,” Nestle CEO Ulf Mark Schneider, said.

“In fact some of the most strident deals of the 1980s that actually put the company on the map where it is today, as the world’s largest food and Beverage Company, those were coming from here.”

Mr. Schneider recently this year appointed as Nestle’s CEO, after working as a CEO at Fresenius Group, a health care company that’s gone through many deals during his 13-year tenure.

Considering the health aspect and Schneider’s past work, the CEO revealed Nestle had by this time made a lot of development in advancement of its nutritional profile in food and beverage in the recent times.

But mergers and acquisitions at Nestle has been relatively quiet in recent years, Schneider said the group would look at potential deals “when the time is right.”

“I’m no stranger to deal-making, but I think it’s basically a continuation of what we’ve done before and that is when there are deal opportunities that make strategic sense, we’ll be there.”

In its fiscal results on Thursday, Nestle posted 2016 sales of 89.5 billion Swiss francs or $89.4 billion.

The food and beverage giants’ net profit came in at 8.5 billion Swiss francs that was less than average analyst’s predictions, with the group saying that one major factor which predominantly influenced the figure was a one-off non-cash alteration to deferred taxes.

For the future, Schneider said that the start of 2017 was expected to be harder than the end of the year, especially with the present level of unpredictability perceived across the globe.

Chesapeake Energy Corporation (NYSE:CHK) finally settles legal fight with Aubrey McClendon’s estate

According to reports, The Oklahoma City-based Chesapeake Energy Corporation (NYSE:CHK) and the estate of its former chief executive, the late Aubrey McClendon, have agreement in place to resolve a legal argument relating claims that Mr. McClendon stole sensitive documents from Chesapeake to make a rival company.

The Energy-Sector company was in quest of $445 million in damages from Mr. McClendon’s estate for the suspected theft of maps and data. The company said Mr. McClendon took that information with him when he was exiled in 2013 and used it to start American Energy Partners LP.

Meanwhile in the settlement filed earlier this month in Oklahoma County District Court, Chesapeake Energy Corporation(NYSE:CHK) has decided to drop that claim and pay $3.25 million in legal payments. In exchange, Mr. McClendon’s estate is dropping claims to any payment still owed under Mr. McClendon’s separation agreement with Chesapeake. That includes cash, stock and the use of a commercial jet.

However the treaty still need approval by the court, which is looking into series of validation claims by creditors against the estate of the late wildcatter, who in 2016 died in a bad car accident. A hearing has been set for March 8.

Chesapeake’s spokesperson said in a statement that the company is “pleased that the matter has been resolved to the satisfaction of all parties.” A representative for Mr. McClendon’s estate could not immediately be reached.

In 2013, co-founder of Chesapeake, Mr. McClendon was expelled as CEO following a shareholder insurgency. He almost immediately launched American Energy, setting up shop nearby and hiring many former Chesapeake employees.

Furthermore Chesapeake Energy (CHK) took legal action against American Energy, as well as several partners and unidentified investors, two years later, claiming Mr. McClendon had founded his new business using maps of oil and gas prospects and other confidential data taken from Chesapeake. American Energy denied those allegations, saying the information Mr. McClendon took was lawfully his under the terms of his termination.

Nonetheless an American Energy partner controlled by the company’s major investor later decided to allocate approximately 6,000 acres in Ohio to Chesapeake Energy (CHK) and pay it up to $25 million. In exchange, Chesapeake dropped the affiliate and unspecified investors for its suit.

Freeport-McMoRan Inc. (NYSE:FCX) PT Suggests Stock Is Worth Around $14.47

Freeport-McMoRan Inc. (NYSE:FCX) registered a 3.35% increase, still its new closing price is 307.21% up from the company’s 1 year high of 17.06.It posted 5.54% gains in previous 5 sessions and is now the subject of 13 analysts who together assign a hold rating on stock. 2 of Wall Street analysts have an underperform rating; the 2 sells versus 1 buy or better ratings. The 20 stock analysts following this company have an average price target at $14.47, with individual PT in the $8.00-$20.00 range. The shares moved at $16.37, implying that brokerage firms see shares gaining about 270.36% in twelve months time.

Freeport-McMoRan Inc. (FCX) SEC Form 4 News

The stock is getting much attention these days as insiders are adding shares while they posted a 24.11% rise year to date. A Director at Freeport-McMoRan Inc. (FCX) acquired shares in a transaction closed on Thursday October 27, 2016. MATHER COURTNEY bought 150,000 shares in the company at $10.72 each and collected $1,608,000 in proceeds. MATHER COURTNEY now owns 190,523 shares in the company after this transaction. A Vice Chairman of the Board in the company, FLORES JAMES C, disclosed a transaction on Friday September 04, 2015 that ended up paying $21,340,000 from the purchase of 2,200,000 shares at $9.7 per share.

Freeport-McMoRan Inc. (NYSE:FCX) Upcoming Results on Tap

Freeport-McMoRan Inc. will next provide financial results for the March 2017 quarter. Stock analysts expect it to report per-share earnings of $0.29 in that period. Sales during the quarter are predicted to arrive at $3.79 billion.

Earnings surprise history: Last quarter, the company posted approximately $4.38 billion in revenue and EPS of $0.25. The mean forecast was for $4.48 billion and $0.34 a share, respectively. One quarter earlier, revenue for the stock was at $3.88 billion, with earnings at $0.13/share.

Freeport-McMoRan Inc. (FCX) Brokerage Update

Freeport-McMoRan Inc. (FCX) is in Berenberg’s research list so their analyst rating change is noteworthy. These shares were downgraded to Sell from Hold by Berenberg, according to news reported on Wednesday November 30, 2016.Another important research note was issued by Deutsche Bank on Thursday November 17, 2016.The firm downgraded FCX to Hold from Buy. Over the last six months and over the last three months, the shares of Freeport-McMoRan Inc. (FCX), have changed 26.51% and 54.73%, respectively.