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Stock Market & Financial Investment News

News Breaks
December 4, 2013
08:42 EDTANR, ACI, NRP, BTU, WLT, CLFUBS to hold a conference
Coal Conference is being held in Boston on December 4.
News For ANR;ACI;NRP;BTU;WLT;CLF From The Last 14 Days
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April 15, 2014
11:37 EDTWLTWalter Energy asset sales in Canada would be difficult, says Brean Capital
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09:35 EDTWLTActive equity options trading on open
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09:09 EDTWLTWalter Energy to idle Canadian operations, temporarily lay off employees, staff
Walter Energy will begin idling its Canadian operations, including the Wolverine and Brazion coal mines in British Columbia, in April. The company will place its Wolverine mine on idle status effective immediately. Brazion will continue to operate the Brule mine but expects to idle the mine by July. The company will continue to operate its preparation plants at these mines to complete processing of coal that already has been mined and is in inventory. For 2013, coal production from Wolverine, which produces mid-volatile hard coking coal, was 1.6M metric tons, while the Brazion mines produced approximately 1.9M metric tons of low-vol PCI and 0.1M metric tons of hard coking coal. As of December 31, 2013, Walter Energy had approximately 1.1M metric tons of coal in inventory in Canada. Employment impacts include temporary layoffs of approximately 415 employees at the Wolverine mine, approximately 280 employees at Brazion, and other administrative support staff. A limited number of employees will remain at each site to operate the preparation plants and, once coal processing is complete, to perform ongoing equipment maintenance and provide ongoing security for the sites during the idle period.
April 10, 2014
08:22 EDTCLFCliffs Natural mentioned cautiously by Seeking Alpha contributor
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April 9, 2014
16:23 EDTACI, WLT, ANROn The Fly: Closing Wrap
Stocks on Wall Street were higher after the minutes of the latest FOMC meeting struck a particularly dovish note. The averages, which were higher for the second straight session ahead of the minutes release, climbed to their highs over the final two hours of trade. Each index posted gains of over 1%, with the tech-heavy Nasdaq again the biggest winner. ECONOMIC EVENTS: The minutes for the March 18-19 FOMC showed that some committee members were concerned that its future interest rate projections could be misconstrued by the market as advocating tighter monetary policies. The minutes also showed that committee members expect to continue tapering the Fed's asset purchases if the economy performs as expected going forward. Wholesale inventories rose 0.5% in February, matching economists' forecast. COMPANY NEWS: Several auto majors were in the news, notably General Motors (GM), which fell 91c, or 2.64%, to $33.62 as the National Highway Traffic Safety Administration yesterday announced that it fined the automaker for failing to respond to the administration's inquiry into its recall related to faulty ignition switches in a timely manner. Analysts at Morgan Stanley also downgraded the stock to Underweight from Equal Weight. U.S.-listed shares of Toyota Motor (TM) fell $1.37, or 1.26%, to $107.73 after the company announced the recall of over 6M vehicles worldwide. A report from Automotive News said that Volkswagen (VLKAY) issued a stop-sale order on some of it newer-model cars, but U.S.-listed shares of the German automaker, which were upgraded earlier in the session by Bernstein to Outperform, were unfazed and gained $2.91, or 5.72%, to $53.78... Two notable initial public offerings took place today, with hotel chain operator La Quinta (LQ) gaining 12c, or 0.71%, to $17.12 and Chinese medical exam and screening center operator iKang Healthcare (KANG) gaining $1.20, or 8.57%, to $15.20, in their first day of trade. MAJOR MOVERS: Among the notable gainers was marketing software and solutions provider Constant Contact (CTCT), up $6.30, or 28.74%, to $28.22 after the company's preliminary first quarter revenue exceeded analysts' projection. Also higher was social media giant Facebook (FB), up $4.22, or 7.25%, to $62.41 after analysts at Susquehanna and SunTrust published positive commentary on the company. Among the noteworthy losers was Intuitive Surgical (ISRG), down $33.20, or 6.78%, to $456.64 after last night saying it expects first quarter revenue to come in well below expectations, though the stock was defended by no fewer than three analyst firms following the announcement. Also lower were a number of coal producers, including Alpha Natural Resources (ANR) and Walter Energy (WLT), which each lost more than 6%, and Arch Coal (ACI), which fell over 3%, after all three stocks were downgraded to Sell at UBS. INDEXES: The Dow was up 181.04, or 1.11%, to 16,437.18, the Nasdaq was up 70.91, or 1.72%, to 4,183.90, and the S&P 500 was up 20.22, or 1.09%, to 1,872.18.
16:00 EDTWLTOptions Update; April 9, 2014
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12:18 EDTANR, WLT, ACIOn The Fly: Midday Wrap
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12:00 EDTWLTWalter Energy falls 7.2%
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12:00 EDTANRAlpha Natural falls 7.8%
Alpha Natural is down 7.8%, or 38c, to $4.50
10:06 EDTWLT, ANR, ACIOn The Fly: Analyst Downgrade Summary
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09:11 EDTACIOn The Fly: Pre-market Movers
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09:00 EDTANRAlpha Natural falls 3.3%
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09:00 EDTACIArch Coal falls 3.5%
Arch Coal is down 3.5%, or 18c, to $5.00
07:48 EDTCLFBofA/Merrill's steel analysts hold an analyst/industry conference call
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06:40 EDTACIArch Coal downgraded to Sell from Neutral at UBS
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06:40 EDTWLTWalter Energy downgraded to Sell from Neutral at UBS
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06:40 EDTANRAlpha Natural downgraded to Sell from Neutral at UBS
UBS downgraded Alpha Natural to Sell from Neutral and lowered its price target to $3 from $5 based on lower met coal price forecasts for the sector due to oversupply issues and the latest Q2 benchmark settlement that was lower than expected. The firm expects balance sheets to be stressed and cash burn to accelerate which could result in a 2016 liquidity crisis.
April 8, 2014
10:00 EDTANRAlpha Natural rises 6.8%
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April 4, 2014
10:02 EDTBTUOn The Fly: Analyst Upgrade Summary
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07:36 EDTBTUPeabody upgraded to Outperform from Market Perform at Cowen
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