Reaction. Pay it out of cash on hand and the it line. Also committed to paying 1 billion in debt due for next year perhaps out of asset sales. They have high quality assets. Second freeport sold a 13 stake in the copper mine to metal mining for 1 billion in cash. That gives freefort the flexibilitile to unload other assets to ruse the 19 billion plus debt load. Second black hole. Momentarily filled. Third positive, the high yield debt market is plagued by the decline in sprint bonds, the telco company. Sprints owner announced a 4. 4 billion buy back equivalent to 4. 2 of the market cap. Certainly they have money to throw at sprint to stave off the decline in the companys fortunes and bolster the ability verizon, at t and tmobile. The common stock jumped but it is about the credit side of the ledge er. I have to get it through to you because the stock market is often smaller than the bond market when it comes to the direction overall of what we are looking at. The oil and gas pipeline b
We heard they hired advisers to reorganize and perhaps fall on that bomb setting up a bad chain reaction. Pay it out of cash on hand and the it line. Also committed to paying 1 billion in debt due for next year perhaps out of asset sales. They have high quality assets. Second freeport sold a 13 stake in the copper mine to metal mining for 1 billion in cash. That gives freefort the flexibilitile to unload other assets to ruse the 19 billion plus debt load. Second black hole. Momentarily filled. Third positive, the high yield debt market is plagued by the decline in sprint bonds, the telco company. Billion buy back equivalent to 4. 2 of the market cap. Certainly they have money to throw at sprint to stave off the decline in the companys fortunes and bolster the ability to stay competitive versus verizon, at t and tmobile. The common stock jumped but it is about the credit side of the ledge er. I have to get it through to you because the stock market is often smaller than the bond market
Thats right. It turns out the Federal Reserve is pretty darn worried about faltering Global Growth and its impact on the u. S. When it met last month. It wasnt about to pull the trigger on a higher fed fund rate. And when we found out about how pragmatic the fed was about whether to raise rates or not, the september minutes were released after 2 00 today, you could almost here the collective sigh of relief. And then the rush to buy stocks dow gaining 138 points. S p jumping 0. 88 . Nasdaq is also climbing. For weeks now we have labored under the impression that the fed was ready to tighten on a moments notice because it was sanguine about the economy. We thought they were happy about things. They were hardly sang wing. Thats what they tell us theyre about to tighten and the Federal Reserve is worried as most Business People and investors were about a china led slowdown could bring down what little strength our economy has. Given that last months unemployment number wasnt so hot you can
At all in these two companies. When you do the math and look at everything, we dont have a concern. Andrew think about it as adjacencies. Area, we dontag anticipate issues, but we will go through the Regulatory Filings as normal. David whether the United States or europe, will they be looking at it as one company or will those be done simultaneously . Hard to answer, but they will take into account that it will be broken up into three businesses. Stephanie agriculture is a key part of this deal. We have got to ask about competition. How will Global Agriculture change, when you think about china and the strength they have . A governmentcontrolled entity has taken aggressive position good im referring to china. That is one of the beauties of putting these two ag businesses together. Andrew and i have said publicly that will be consolidation in this space. Have the firstmover advantage. We know for sure we are going to be one of the big leading players in the ag that was very important to
Dudley this morning. Nike taking shareholder friendly steps, upping the dividend. That stock moving high. More on the inversion rules, actions laid out by the treasury department. Does not appear they will derail the pfizerallergan deal. And abercrombie, foot locker, ross stores beat. And a day after square and match go public, both stocks moving higher, but two delayed ipos pull because of Unfavorable Market conditions. First up, French Special forces went into mali in west africa just two years ago to try to clean things up after jihadists had taken control of the northern part of the country. Michelle carusocabrera is in paris this morning with the latest. Good morning. Reporter good morning. That is exactly why the hostage situation in mali is such huge news here in france, especially in the wake of what happened one week ago. So that situation is ongoing. We have gotten a statement from the hotel group, the brussels base company that operates the radisson blu saying there are 124