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Stock Market & Financial Investment News

News Breaks
March 25, 2014
10:52 EDTANR, ACIAlpha Natural, Arch Coal retreat after analyst downgrades
Two stocks declining despite today's market rally are coal miners Alpha Natural (ANR) and Arch Coal (ACI), which were both downgraded to Hold from Buy by research firm Jefferies. WHAT'S NEW: Alpha Natural and Arch Coal would both be significantly hurt by another large decline in natural gas prices, wrote Jefferies analyst Peter Ward in a note to investors earlier today. Natural gas prices could take another major hit, the analyst believes, while metallurgical coal prices are unlikely to spike higher, as they have in the past, Ward warned. He called the current price action in metallurgical coal "sluggish." WHAT'S NOTABLE: Bank of America Merrill Lynch recently cut its estimates and price targets on several coal miners, including Arch Coal and Alpha Natural. It also slashed its price target on another name in the sector, Walter Energy (WLT), to $2 from $8. The firm cited sinking met coal prices, oversupply, and falling marginal costs as reasons for its changes. Bank of America Merrill kept Underperform ratings on Arch Coal, Alpha Natural, and Walter Energy when it issued its note on March 20. PRICE ACTION: In mid-morning trading, Arch coal sank 3.6% to $4.50, while Alpha Natural fell 2.6% to $4.40.
News For ANR;ACI From The Last 14 Days
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July 27, 2015
16:09 EDTACIArch Coal postpones on-for-ten reverse stock split
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06:45 EDTACIArch Coal has dark future despite reverse stock split, WSJ reports
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July 22, 2015
06:23 EDTANR, ACIPeabody downgraded to Neutral from Overweight at JPMorgan
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July 20, 2015
10:00 EDTANROn The Fly: Analyst Downgrade Summary
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08:48 EDTANRAlpha Natural downgraded to Neutral from Buy at Sterne Agee CRT
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08:32 EDTACIArch Coal announces one-for-ten reverse stock split
Arch Coal announced a one-for-ten reverse stock split of Arch's common stock. Arch's stockholders granted authority to the Arch Board of Directors to effect this reverse stock split at the company's annual meeting of stockholders on April 23. The reverse stock split is expected to take place after market close on July 27. It also is expected that Arch's common stock will begin trading on a split-adjusted basis on the New York Stock Exchange at the market open on July 28. As a result of the reverse stock split, the number of outstanding shares of Arch's common stock will be reduced from approximately 213M to approximately 21.3M.
July 16, 2015
15:41 EDTANRAlpha Natural confirms NYSE has suspended trading in company's stock
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July 15, 2015
19:03 EDTANROn The Fly: After Hours Movers
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18:59 EDTANRAlpha Natural in talks for financing of possible bankruptcy filing, WSJ says
Alpha Natural is engaging in discussions for financing for a possible bankruptcy filing, reports the Wall Street Journal, citing people familiar with the matter. The filing could come early next month, the Journal adds. Reference Link

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