Potash Shoots Down 'Green Shoots'

Potash(POT Quote), the Canadian fertilizer giant, said weaker sales of, well, potash, has forced it to cut radically its earnings forecast for the second quarter.

Profit will likely come in at 70 cents a share as opposed to the $1.10 to $1.50 the company had been telling investors to expect.

In a statement released after Thursday's market close, Potash blamed the weaker sales on the recession, which caused order cancellations from farmers around the world, and a consequent drop in prices. ...