Molycorp Files 10K Extension & 3 Stocks Hitting 52-Week Lows
Molycorp (NYSE:MCP): Closing price $6.14
The firm needs an extension of time to file its annual report on Form 10-K, without which it would have to be filed no later than March 1. The filing delay is necessary so that it can determine the amount of a non-cash goodwill impairment charge, which it projects will be substantial, to be recorded for the fourth quarter and shown on its fiscal year 2012 financial statements. Molycorp expects to file the form by March 15 and will reschedule its earnings conference call to coincide with that filing. Shares closed down 1.6 percent on the day at $6.14, having been traded in a 52-week range of $5.75 to $35.79.