MOS, CF, AGU, IPI Could See Weakness On PotashCorp (POT) Warning
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Mosaic Co. (NYSE: MOS) , CF Industries Holdings, Inc. (NYSE: CF), Agrium Inc. (NYSE: AGU), and Intrepid Potash, Inc. (NYSE: IPI) could seen weakness following lower guidance from Potash Corporation of Saskatchewan Inc. (NYSE: POT)
POT revised earnings guidance for second-quarter 2009, shifting from our initial target of $1.10-$1.50 per share(1) to our current expectation of approximately $0.70 per share. Potash said the change reflects substantially lower than forecasted potash sales volumes due to deferral of purchases by customers around the world and lower realized prices for phosphate fertilizers.
Note: Potash and the others sold-off last week after K+S warned in Europe of weak potash demand.
POT revised earnings guidance for second-quarter 2009, shifting from our initial target of $1.10-$1.50 per share(1) to our current expectation of approximately $0.70 per share. Potash said the change reflects substantially lower than forecasted potash sales volumes due to deferral of purchases by customers around the world and lower realized prices for phosphate fertilizers.
Note: Potash and the others sold-off last week after K+S warned in Europe of weak potash demand.
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