Why FMC Corporation Rallied Today
Shares of agricultural chemical company FMC Corporation (NYSE:FMC) rallied a whopping 30.4% on Friday. FMC has been in a vicious downturn due to a combination of a difficult agricultural cycle and its products coming off patent. Combined with a substantial debt load, its deteriorating financial results have spurred fears over a potential bankruptcy. FMC reported third-quarter earnings today that looked terrible on the surface; however, much of that was due to one-time price cuts and an accounting adjustment. It appears the company's fourth-quarter guidance may be better than some had feared. That enabled the stock to jump off distressed levels. But is there any sort of real turnaround in the cards? Continue reading