December 6, 2012
The following video is from Wednesday's MarketFoolery podcast in which host Chris Hill, along with analysts Jason Moser and Bill Barker, discuss the top business and investing stories.
In this segment, the discussion focuses on Freeport McMoRan
's (NYSE: FCX
) announcement that it is acquiring Plains Exploration & Production
) and McMoRan Exploration Company
) . On the announcement, both of those stocks jumped up, 26% and a whopping 88%, respectively. The problem? When Wall Street likes an acquisition, the acquirer
's stock goes up too, but shares of Freeport are trading down 14%. Our analysts ask: Did Freeport overpay, and what went wrong?
Freeport is one of the largest producers of gold in the world. For those investors looking for more commodities-based ideas, download The Motley Fool's special free report, "The Tiny Gold Stock Digging Up Massive Profits." Our analysts have uncovered a little-known gold miner they believe is poised for greatness; find out which company it is and why its future looks bright -- for free!