Phelps Dodge Slashes Outlook

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Copper miner Phelps Dodge Corp. on Tuesday slashed its earnings outlook for the fourth quarter by more than 70 percent, hurt by its copper price hedging program, a range of special items and production and sales shortfalls of copper and molybdenum.


The company said it now expects earnings of $1 to $1.30 per share including charges, down from a prior view of $4.15 to $4.40.


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