3 Stocks to Watch on Monday: Freeport-McMoRan Inc (FCX), Microsoft Corporation (MSFT) and Tesla Motors Inc (TSLA)

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U.S. stocks ended the week on a positive note, while Donald Trump has released the details of his tax cuts, which will benefit the middle class of the country.

3 Stocks to Watch on Monday: Freeport-McMoRan Inc (FCX), Microsoft Corporation (MSFT) and Tesla Motors Inc (TSLA)Several companies made headlines over the weekend, including Freeport-McMoRan Inc (NYSE:FCX), Microsoft Corporation (NASDAQ:MSFT) and Tesla Motors Inc (NASDAQ:TSLA).

Here’s what’s going on:

Freeport-McMoRan Inc (FCX)

FCX is on the rebound this morning after the company restated its intention to reduce its debt.

CEO Richard Adkerson said the company will be able to complete its debt reduction plan as its better financially positioned to do so. While copper has been hammered in the past couple of years, it’s on the rebound in 2016, and Freeport-McMoRan expects its copper sales to recover after unloading a series of assets.

FCX shares plummeted to their lowest price in 16 years this January thanks to the company’s investment in hydrocarbons, as well as sliding copper and oil prices. Freeport’s road to recovery included making some of its assets available, such as putting its oil and gas segments on the market. And the sale of its Tenke copper mine in the Democratic Republic of Congo netted the company $2.65 billion in July.

Freeport still is hoping to sell $3 billion in assets by the end of the year.

FCX was up about 2% in Monday’s morning trade, and it’s up about 105% year-to-date.

Microsoft Corporation (MSFT)

MSFT had a positive weekend as its flagship console outsold its biggest rival.

The Xbox One has failed to sell as well as the PlayStation 4 since the two consoles were first launched, but the Microsoft console finally turned a corner over the last four months.

Market researchers NPD reported that the Xbox One is the best-selling video game device in the U.S. since July. Additionally, it was the best-selling console in October in several countries, including the U.S., the U.K. and Australia.

The Electronic Entertainment Expo trade show in Los Angeles helped Microsoft’s device perform better in the market. The June event showcased some of the Xbox One’s offers, and it also helped to build hype for the Xbox One S, which is stronger than its predecessor.

Multiplayer involvement was 52% better than it was a year ago.

MSFT shares are up fractionally this morning and are up more than 6% so far in 2016.

Tesla Motors Inc (TSLA)

TSLA is off a bit after confirming over the weekend that its base Model S vehicle will be pricier.

The electric car maker’s flagship will cost $2,000 more to those who acquire the vehicle after Nov. 22. This will push the Model S 60’s price to $66,000. Meanwhile, the Model S 75 will be $74,500.

In other news, Tesla has been looking to iron out the Autopilot feature in its devices, but it is still having some difficulties as a Model S suffered a fender bender during a test drive.

The accident took place last week on the last day of a seven-day testing period. The car was moving up a hill at 50 mph towards a traffic signal, and the salesperson in the vehicle told the driver not to slow down and allow the car to perform its self-driving duties, which it failed to complete.

Additionally, the Supercharger stations around the country will no longer be free, starting on Jan. 1, 2017, for those who order a car, or April 1, 2017, for those who get a car delivered.

TSLA shares are off more than 20% in 2016.


Article printed from InvestorPlace Media, https://investorplace.com/2016/11/3-stocks-watch-monday-freeport-mcmoran-inc-fcx-microsoft-corporation-msft-tesla-motors-inc-tsla-iplace/.

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