New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News For CNX;ACI;BTU;BHP From The Last 14 Days
Check below for free stories on CNX;ACI;BTU;BHP the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
July 22, 2014
11:43 EDTBTUPeabody sees metallurgical coal demand picking up in 2H
Subscribe for More Information
08:08 EDTBTUPeabody sees Q3 adjusted EPS (53c)-(40c), consensus (20c)
Subscribe for More Information
08:07 EDTBTUPeabody sees FY14 sales of 245M-260M tons of coal
For FY14, Peabody now has total sales targets of 245M-260M tons, including U.S. sales of 185M-190M tons and Australian sales of 35M-37M tons. Sees U.S. costs per ton 1%-3% below 2013 levels on cost containment efforts, with U.S. revenues per ton 4%-7% below 2013 levels due to price re-openers and Australian costs in the low-to-mid $70 per ton range. Sees full-year depreciation, depletion and amortization approximately 5%-10% below 2013 levels.
08:03 EDTBTUPeabody reports 2Q adjusted EPS (28c), consensus (29c)
Subscribe for More Information
July 21, 2014
16:19 EDTACIArch Coal idles Cumberland River coal complex, eliminates 213 full-time jobs
Arch Coal announced that it is idling the Cumberland River Coal Company complex. The Cumberland River complex comprises two underground operations and related facilities. 213 full-time positions will be eliminated by idling Cumberland River. "With this move, we are actively responding to currently challenged metallurgical coal markets while striving to enhance our overall competitive cost position in Appalachia," said John Eaves, Arch's president and CEO. "Our strategy is to increasingly shift our portfolio toward higher-margin, lower-cost metallurgical coal operations, while retaining our valuable reserves for when market conditions strengthen in the future."
July 18, 2014
08:31 EDTBHPPotash Corp BG Mosaic could become BHP takeover targets, says Bernstein
Subscribe for More Information
July 17, 2014
07:51 EDTBHPBHP Billiton urges India to focus on infrastructure, not mining, WSJ says
Subscribe for More Information
July 15, 2014
06:48 EDTCNXCONSOL reports E&P division produced 51.9 Bcfe during Q2
Subscribe for More Information
July 14, 2014
08:33 EDTCNXCONSOL management to meet with Brean Capital
Subscribe for More Information
07:04 EDTBHPExterran Partners to acquire natural gas compression assets from MidCon
Subscribe for More Information
July 8, 2014
11:38 EDTACICoal producers retreat after Morgan Stanley lowers price forecast
Shares of some coal producers are falling after Morgan Stanley reduced its price targets on several names in the sector. WHAT'S NEW: Morgan Stanley analyst Evan Kurtz warned that metallurgical coal prices may rebound more slowly than the firm had previously expected. The firm's commodity forecasters reduced their outlook for met coal prices to $133 from $160 per ton in 2015, Kurtz reported. Chinese imports have been weak so far this year, as exports to that country from Australia have risen, the analyst explained. However, production cuts should still help prices rise next year, Kurtz stated. Nonetheless, he cut his price target on Walter Energy (WLT) to $16 from $26, on Alpha Natural (ANR) to $4 from $5 and on Arch Coal (ACI) to $2 from $3. He kept an Overweight rating on Walter Energy, an Equal Weight rating on Alpha Natural and an Underweight rating on Arch Coal. COMPANY NEWS: In addition to the analyst opinion, two of the companies in the sector, Walter Energy and Westmoreland Coal (WLB), announced news this morning. Walter Energy announced that it has commenced a private offering of $320M aggregate principal amount of 9.5% senior secured notes due 2019. Walter also disclosed in a regulatory filing earlier that its preliminary metallurgical coal production for Q2, including both hard coking coal and low-volatility pulverized coal injection product, was 2.5M metric tons, and that its preliminary metallurgical coal sales for Q2 was 2.7M metric tons. Additionally, Walter noted that it incurred severance charges of approximately $7M in Q2 in connection with the idling of its mines in Canada. For its part, Westmoreland disclosed in a regulatory filing that the company currently anticipates reporting adjusted EBITDA in the range of $35M-$38M for the three months ended June 30. WHAT'S NOTABLE: On June 20, another research firm, Sterne Agee, recommended that risk-tolerant investors buy Alpha Natural. The firm predicted that the company would benefit from normalizing thermal and metallurgical coal prices. According to Sterne Agee, the market was underestimating several of Alpha Natural's positive catalysts. PRICE ACTION: In late morning trading, Walter Energy sank 5.4% to $5.82, Alpha Natural gave back 7.2% to $3.37, Arch Coal retreated 5.2% to $3.22, and Westmoreland sank 5% to $34.97.
08:09 EDTBTU, CNX, ACICoal secotr estimates lowered at Morgan Stanley
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use