General Electric GE Dividend Cut 2/27/09 - Haynesville Shale

General Electric ( GE ) will cut their dividend from .31 cents per quarter to .10 cents per quarter starting in the 3rd quarter of 2009. GE hasn't officially announced this but David Faber of CNBC has announced this.

GE will save 9 billion dollars a year with this dividend cut as it will come down from $1.24 per year to $0.40 per year.

GE stock spiked to $9.00 on this news but has since tanked to around $8.60 per share. Right now the stock appears to be all over the place but the spike to $9 brought the Dow Jones back to even on the trading day.

In other General Electric news today, February 27, 2009, GE is getting into the Haynesville Shale:

Natural gas processor and transporter Regency Energy Partners LP on Friday said that it, along with Alinda Capital Partners LLC and an affiliate of GE Energy Financial Services, are forming a joint venture to finance and construct Regency's Haynesville expansion project.

Dallas-based Regency will contribute to the joint venture its Regency Intrastate Gas System in North Louisiana, valued at $400 million, in exchange for a 38 percent general partnership stake in the venture. GE Energy Financial Services and Alinda Capital Partners LLC will contribute to the joint venture $126.5 million and $526.5 million in cash for a 12 percent and a 50 percent stake, respectively.

The North Louisiana pipeline will transport gas from the Haynesville shale formation, one of the fastest growing U.S. natural gas fields, which stretches through parts of Texas, Oklahoma and Louisiana.

Being the founder of www.oilshalegas.com, I have done extensive research on all the energy shale plays in the USA and Canada. The haynesville shale, located in Louisiana and East Texas, has the potential to be the biggest natural gas field in America. If one day we convert our vehicles to compressed natural gas, the haynesville shale has enough gas to support this. The Marcellus Shale is up there as well!

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Freeport McMoran FCX 12/03/08 - Dividend Suspension

Freeport McMoran ( FCX ) is coming out on 12/03/08 and updating investors on their operating plans for a weaker then expected outlook as well as suspending their dividend. FCX stock is really taking a hit this morning in pre market, down 13% to $19. This is a stock that has rallied hard every time the stock market gets a bounce, sometimes as much as 25%.

FCX Analysis - The low of $17.27 must hold or you will probably see Freeport test $15, at that point I think it would be a buy for a trade. FCX will now have resistance at the $20 level...a close over $20 and i'd be bullish but would use a tight stop at this level.

Freeport-McMoRan Copper & Gold Inc. (FCX)

-- Reduction in Copper Production and Sales of 200 million pounds (5%) in 2009e and 500 million pounds (11%) in 2010e Compared with Previous Estimates

-- 18% Reduction in Estimated 2009 Unit Site Production and Delivery Costs Compared with 2008e

-- $1.2 billion Reduction (50%) in Estimated 2009 Capital Expenditures Compared with Previous Estimates

-- Suspension of Common Stock Dividend

Freeport-McMoRan Copper & Gold Inc. (FCX) announced today revised operating plans in response to the recent sharp decline in copper and molybdenum prices to incorporate reduced production levels, operating and administrative costs, exploration costs and capital expenditures.
Since completion of the Phelps Dodge acquisition in March 2007, FCX's business strategy has been focused on defining the potential of its resources and developing expansion and growth plans to deliver additional volumes to a growing marketplace. Following the more than $10 billion in debt reduction during 2007, FCX's financial policy was designed to use its cash flows to invest in growth projects with high rates of return and return excess cash flows to shareholders in the form of dividends and share purchases. In response to the dramatic recent shift in global economic conditions, FCX has revised its near-term business strategy.

Full Article

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Lehman ( LEH ) Earnings: LEH Preannounces Earnings 9/10/08

Lehman Brothers ( LEH ) preannounced earnings today.

LEH stock is trading between $8.30 and $9.50 after this release.....very volatile!

Lehman LEH lost ( $5.92 ) vs ( $3.35 )

Lehman cuts dividend to .05 Cents from .65 cents....big dividend cut for LEH

LEH to spin off real estate assets into new company