(Reuters) - Molycorp Inc reported a narrower fourth-quarter loss on Monday, as the rare earth miner continued to ramp up operations at its revamped Mountain Pass mine and processing facilities in California.
The company's net loss was $194.3 million, or 95 cents a share, compared with a loss of $359.6 million, or $2.91 a share, in the fourth quarter of 2012, when it took a $258.3 million impairment charge related to a 2012 takeover.
Adjusted to remove writedowns and other one-time items, the loss was 28 cents a share, compared with a loss of 45 cents a share in the year-ago period.
Analysts, on average, had expected a loss of 29 cents a share, according to Thomson Reuters I/B/E/S.
Revenue slipped 8 percent to $123.8 million.
“The recent increase in rates which began in the second half of last year is a sign of an improved balance in the tanker market,” Frontline said in its results statement, “and the company expects that the supply/demand balance will improve further.” However, it warned that “this is a fine balance which can easily be changed by increased fleet supply caused by increased ballast speed, decrease in vessel scrapping and aggressive newbuilding ordering.”
Hercules Offshore, Inc. Receives “Neutral” Rating
Boston, MA – (NYSEPOST) – 02/06/2014 – Simmons downgraded Hercules Offshore, Inc to a “neutral” rating in their research note that was to investors today
Cramer does not like it. He always says that if the fundamentals of a company that you like changes then it's time to SELL SELL SELL!!
I know it not going to work...the question is how long is it going to take!
To be sure, a Google representative weighed in, "We believe strongly in our pending appeal in this matter, and we anticipate seeking Federal Circuit review of today's decision as well."
Today's win is a big one for Vringo shareholders, but this battle is far from over."