FREEPORT-McMORAN COPPER AND GOLD (FCX $44.48, rated UNDERWEIGHT, Target $53); HEDGING OF PROVISIONALLY-PRICED QUANTITIES OF COPPER MAY LIMIT NEAR-TERM UPSIDE FOR COPPER PRICES 5/4/2009

FREEPORT-McMORAN COPPER AND GOLD (FCX $44.48, rated
UNDERWEIGHT, Target $53); HEDGING OF PROVISIONALLY-PRICED
QUANTITIES OF COPPER MAY LIMIT NEAR-TERM UPSIDE FOR COPPER
PRICES 5/4/2009