Molycorp (MCP) in Focus as OM Group (OMG) Signals Challenging Q4
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Molycorp (NYSE: MCP) is seeing a little bit of pressure Tuesday following the long holiday weekend, amid a business update from at least one key rare earth consumer.
Earlier, OM Group (NYSE: OMG) reiterated expectations for "no rare earth pricing benefits in the fourth quarter of 2012 and stated that it now expects a significant lower-of-cost-or-market charge to principally reflect decreased rare earth prices." OM Group also noted that overall market conditions remained challenging in the fourth-quarter of 2012, "particularly in Europe and in global consumer electronics markets."
News came as OM Group also announced the $435 million sale of its Advanced Materials business. For more color, click here.
How much this will translate to the overall rare earth segment is something traders and investors might want to keep an eye on.
Shares of Molycorp are about one percent lower in mid-morning trading.
OM Group, Inc. is "a leading global solutions provider of specialty chemicals, advanced materials and unique technologies crucial to enabling our customers to meet increasingly stringent market and application requirements," according to the company website.
Earlier, OM Group (NYSE: OMG) reiterated expectations for "no rare earth pricing benefits in the fourth quarter of 2012 and stated that it now expects a significant lower-of-cost-or-market charge to principally reflect decreased rare earth prices." OM Group also noted that overall market conditions remained challenging in the fourth-quarter of 2012, "particularly in Europe and in global consumer electronics markets."
News came as OM Group also announced the $435 million sale of its Advanced Materials business. For more color, click here.
How much this will translate to the overall rare earth segment is something traders and investors might want to keep an eye on.
Shares of Molycorp are about one percent lower in mid-morning trading.
OM Group, Inc. is "a leading global solutions provider of specialty chemicals, advanced materials and unique technologies crucial to enabling our customers to meet increasingly stringent market and application requirements," according to the company website.
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