Molycorp Plunges After Cutting Rare-Earth Forecast; Sales Miss Estimates

Bloomberg reported that a lower production forecast and smaller profits caused shares of Molycorp (NYSE:MCP) to drop.

As quoted in the market news:

The shares fell to $33.77 at 10:04 a.m. in New York. They earlier touched $33.46, the biggest intraday drop since Sept. 22.

Click here to read the full Bloomberg report.