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Stock Market & Financial Investment News

News Breaks
May 13, 2013
13:28 EDTMOSMosaic lower after deferring potash expansion
Mosaic, which produces and markets phosphate and potash crop nutrients for the agriculture industry, is trading lower after saying it is scaling back its potash expansion on a company conference call. WHAT'S NOTABLE: Mosaic CFO Larry Stranghoener said the company is deferring a project to add 2M metric tons a year of potash production capacity. Stranghoener added that the company will reassess market conditions within the next 12 to 24 months and "make a determination at that time whether those projects are warranted." PRICE ACTION: Mosaic shares are trading down $2.23 or 3.52% to $61.05 in afternoon trading.
News For MOS From The Last 14 Days
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July 23, 2014
08:34 EDTMOSMosaic to permanently discontinue production of MOP at Carlsbad facility
Mosaic said in a filing that on July 21 it decided to permanently discontinue production of muriate of potash at its Carlsbad, New Mexico facility. The final date for production is expected to be December 31. The decision is based on the quality of the ore in the Carlsbad basin and the age of the facility's infrastructure. These combined factors make it difficult for the operations to remain competitive in an already challenging global market. The discontinuation of this product at Carlsbad is a further step in our previously announced ongoing asset optimization initiatives. Its larger potash production facilities at Esterhazy, Belle Plaine and Colonsay in Saskatchewan, Canada will continue to produce MOP.Mosaicís plan for the immediate future is to transition the Carlsbad facility to the exclusive production of its highly valued K-Mag product line. K-Mag is a premium potash product that currently represents approximately 70% of production at the Carlsbad facility and is a long-term strategic asset for us.We currently estimate that the discontinued production will result in total pre-tax charges in the range of $135M-$160M. The third quarter pre-tax charges are estimated to be in the range of $55M-$77M with the majority of the remainder expected to be recorded in the fourth quarter.
July 18, 2014
08:31 EDTMOSPotash Corp BG Mosaic could become BHP takeover targets, says Bernstein
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July 9, 2014
05:45 EDTMOSPotash downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded Potash (POT) to Neutral citing valuation with shares near the firm's unchanged price target of $38. JPMorgan prefers Mosaic (MOS) at current valuation levels. The firm believes falling crop prices in anticipation of high domestic corn and soybean supplies could weigh on Potash shares.

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