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Potash Corp. (POT) Warns Strike May Impact Deliveries
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In a recent research note on Potash Corp. of Saskatchewan, Inc. (NYSE: POT), JPMorgan said the company warned North American customers that a strike may impact deliveries, which could further limit supply.
The firm said, absent a settlement, Potash Corp may soon be forced to declare force majeure, which allows a company to miss delivered because of circumstances beyond its control.
500 workers at three of the company's mines are on strike and asking for increased wages and benefits.
Shares of Potash Corp. are down nearly $9 today,, or 5%, mainly due weakness in commodities. Shares of the company are down nearly 20% over the past three months, but still up 86% over the last year.
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