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Stock Market & Financial Investment News

News Breaks
April 9, 2014
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.
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January 30, 2015
16:17 EDTANRAlpha Natural subsidiaries plan to reduce W. Virginia mining operations
Two operating affiliates of Alpha Natural Resources have notified their employees that certain West Virginia coal mines are being idled due to sustained weak market conditions and federal government regulations that have challenged the entire Central Appalachian mining industry. In accordance with the Worker Adjustment and Retraining Notification Act, notice has been given to approximately 91 Highland Mining Company employees, advising them of the expected idling of Highland Mining's Superior, North, and Trace Fork surface mines, and a reduction in workforce at its Reylas and Freeze Fork surface mines. The affected mines are located in Logan and Mingo Counties, West Virginia. In addition, seven workers with Rum Creek Coal's Anna Branch reclamation unit, working at the affected mines, will also be displaced. Approximately 25% of the affected workers will continue to perform reclamation work as three of the operations wind down to an idle state. The mine idlings and workforce reduction are expected to be completed by mid-April. These actions are being triggered by persistent weakness in U.S. and overseas coal demand and depressed price levels, along with regulatory pressures contributing to the premature retirement of coal-fired power plants across the nation. Excess supply of coal worldwide also has contributed to falling coal prices. The mines that are being idled produced 1.5M tons of thermal coal in FY14.
January 29, 2015
10:05 EDTANROn The Fly: Analyst Initiation Summary
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07:20 EDTANRAlpha Natural initiated with an Underperform at Macquarie
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January 28, 2015
17:05 EDTANRAlpha Natural initiated with an Underperform at Macquarie
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January 20, 2015
09:36 EDTANRAlpha Natural downgraded to Underweight from Equal Weight at Morgan Stanley
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