Orlando, FL -- (SBWIRE) -- 09/26/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Molycorp Inc. (NYSE:MCP), Banco Santander, S.A. (ADR)(NYSE:SAN).
Molycorp Inc. (NYSE:MCP) shares decreased 1.10% to $7.21. Law Office of Brodsky & Smith, LLC on Sept. 24 announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all those investors who purchased or otherwise acquired shares of Molycorp, Inc. between August 2, 2012 and August 7, 2013, inclusive.
The Complaint alleges that the defendants violated the Securities Act of 1934 by failing to disclose during the Class Period that the Company's reported inventory was materially understated and that the Company had materially overstated its income tax benefit in the first quarter of 2013. This resulted in a cumulative overstatement of costs of sales and understatement of current inventory of approximately $16.0 million, and income tax benefit in the first quarter of 2013 to be overstated by approximately $6.5 million.
Are investors worried about the recent updates with MCP? Find out with a free trend analysis HERE
Banco Santander, S.A. (ADR)(NYSE:SAN) stock climbed 1.36% to $8.18 in the last trading session. The company is considering acquisitions to strengthen its real estate and payroll-deductible loan portfolios, Chief Executive Jesús Zabalza told journalists on July 30. Earlier in the day, the local affiliate of Spain's Banco Santander reported a stronger-than-expected profit in the second quarter as a sharp decline in defaults allowed the bank to cut bad-loan provisions.
The company is a Spain-based commercial bank. The Bank operates principally in Spain, the United Kingdom, Portugal, the Latin American countries and the United States. It operates four segments: Continental Europe, the United Kingdom, Latin America and Sovereign. Continental Europe segment covers all retail banking business, wholesale banking and asset management and insurance conducted in Europe, under such names as Santander Totta, Santander Consumer Bank and Bank Zachodni WBK, among others.
Is SAN going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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