PotashCorp Tumbles on Weak Profits, Pared Back Outlook

Reuters reported that PotashCorp’s (TSX:POT, NYSE:POT) stock price took a tumble in Thursday trading, on news that they had missed profit forecasts for Q2 and that they were cutting their outlook on weak prices.

As quoted in the Reuters report:

The Canadian miner’s U.S.-listed shares dropped as much as 5.2 percent to their lowest in nearly three years earlier in the day. But by the afternoon, the stock had pared its losses in New York to a drop of 1.8 percent to $37.24 and down 2.2 percent to C$38.30 in Toronto.

To view the whole Reuters report, click here.