Alpha Natural expects 2013 shipment volumes 81M-92M tons Expects to reduce overhead expenses of $150M annually by streamlining field operations & corporate functions. The expected savings will be at least $100M in cost of coal sales $50M in SG&A. The company has also reduced FY13 CapEx to $300M-$350M from $498M in 2012. Comments taken from slides for JP Morgan Global High Yield & Leveraged Finance Conference.
News For ANR From The Last 14 Days
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Kansas City Southern says coal volumes are up 5% in Q2 On its presentation at the Wells Fargo conference the CFO said that coal volumes are up approximately 5% in Q2.
On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: Aeropostale (ARO) downgraded to Sell from Hold at Brean Capital... AIG (AIG) downgraded to Neutral from Buy at Goldman... Alpha Natural (ANR) downgraded to Sell from Neutral at Goldman... American Eagle (AEO) downgraded to Market Perform from Outperform at Wells Fargo... Coach (COH) downgraded to Market Perform from Outperform at Wells Fargo... Iconix Brand (ICON) downgraded to Hold from Buy at Brean Capital... International Rectifier (IRF) downgraded to Market Perform at JMP Securities... Mettler-Toledo (MTD) downgraded to Hold from Buy at Jefferies... TJX (TJX) downgraded to Market Perform from Outperform at Wells Fargo... Tiffany (TIF) downgraded to Market Perform from Outperform at Wells Fargo... North American Palladium (PAL) downgraded to Market Perform at Raymond James... Ducommun (DCO) downgraded to Neutral from Buy at B. Riley... International Rectifier (IRF) downgraded at JMP Securities... Hologic (HOLX) downgraded to Buy from Strong Buy at ISI Group... Ruckus Wireless (RKUS) downgraded to Neutral from Buy at Lazard Capital.
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