Morning Stocks Watch-List: (NASDAQ:TLAB), (NYSE:MCP)
New York, NY -- (ReleaseWire) -- 01/23/2013 --Reuters reported that GlancyBinkow& Goldberg LLP announced that it is investigating potential claims on behalf of purchasers of the securities of Tellabs, Inc. (NASDAQ:TLAB) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by the Company between October 26, 2010 and April 26, 2011 concerning Tellabs` business, operations and prospects were false and misleading.
Tellabs, Inc. is engaged in designing and marketing equipment and services to communications services providers. The Company’s products and services enable its customers to deliver wireline and wireless voice, data and video services to business and residential customers. It sells its products domestically and internationally through its field sales force and distributors/partners.
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Molycorp (NYSE:MCP) is down following the long holiday weekend, amid a business update from OMG.
OM Group (OMG) reiterated expectations for "no rare earth pricing benefits in the fourth quarter of 2012 and stated that it now expects a significant lower-of-cost-or-market charge to principally reflect decreased rare earth prices."
OM Group also noted that overall market conditions remained challenging in the fourth-quarter of 2012, "particularly in Europe and in global consumer electronics markets."
Molycorp, Inc. provides Rare Earths and Molybdenum products to companies. The Company's rare earth products comprise of bastnasite, cerium, europium, lanthanum, neodymium, praseodymium, yttrium, and other lanthanides.
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View this press release online at: http://rwire.com/198861