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Stock Market & Financial Investment News

News Breaks
February 25, 2013
07:44 EDTANRAlpha 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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May 29, 2015
12:03 EDTANRAlpha Natural exploring options after flawed self-bonding notice in Wyoming
Alpha Natural and its operating affiliate, Alpha Coal West, have been notified by the Wyoming Department of Environmental Quality's Land Quality Division that the LQD believes the companies "no longer qualify under the self-bonding program" in the State. Alpha disagrees with LQD's assessment, continues to believe it has fully complied with the regulations, and is currently reviewing all options to reverse or rectify this flawed judgment by the LQD. According to the LQD's notification, Alpha now has 90 days to provide substitute bonding. Alpha estimates that self-bonding by coal companies currently operating in Wyoming totals approximately $2 billion, of which Alpha's share is just over $400M.
09:30 EDTANRCredit Suisse said 2H looking like a 'win-win' for US steel equities
Credit Suisse said 2H 2015 is looking like a "win-win" for U.S. steel equities. The firm assumes favorable outcomes in proposed congressional legislation redefining injury in anti-dumping trade cases, a trade case filing, and an end to market restock cycle. Credit Suisse continues to favor U.S. Steel (X) given its leverage to the trade case story and said the entire sector will benefit if 2H plays out as expected. Firm said Reliance Steel (RS), Worthington (WOR), and Olympic Steel (ZEUS) are leveraged to a drop in import volumes and raw materially suppliers Cliffs Natural (CLF), Arch Coal (ACI), and Alpha Natural (ANR) should benefit from production increases in domestic Blast Furnace given less import competition.
May 26, 2015
07:24 EDTANRAlpha Natural initiated with an Underperform at Credit Suisse
Target $.50.
May 22, 2015
13:01 EDTANRAlpha Natural affiliates to downsize central Appalachian mining operations
Operating affiliates of Alpha Natural have notified employees of the expected idling of the mining and processing operations where they work. In accordance with requirements of the Worker Adjustment and Retraining Notification Act, notices were given today to 439 employees at Rockspring Development's Camp Creek Underground Mine and Processing Plant in Wayne County, West Virginia, regarding the expected idling of those facilities based on the mine operator's current assessment of market conditions. Additionally, three other Alpha-affiliated mine operators announced last week that reductions in force were taking place at their locations due to sustained weak market conditions and government regulations that have challenged the entire Central Appalachian coal industry. A total of 71 employees were impacted. These actions are being triggered by persistent weakness in U.S. and overseas coal demand and depressed price levels, along with government regulations that are causing electric utilities to close existing coal-fired power plants and forego construction of new coal-fired capacity. Excess supply of coal worldwide also has contributed to sustained price weakness.
May 20, 2015
13:07 EDTANRAlpha Natural downgraded to Underperform from In-Line at Imperial Capital
Imperial Capital downgraded Alpha Natural to Underperform and reduced its price target to 40c from $1.50. The firm said Alpha can no longer access $750M in first lien basket now that the latest 12 month 1L secured leverage is greater than 2X and downgraded shares due to the significant deterioration in outlook.

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