New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 31, 2014
17:19 EDTANRAlpha Natural announces plans to downsize West Virginia mining operations
Eight operating affiliates of Alpha Natural Resources have notified their employees late this afternoon that the coal mines and other facilities where they work are subject to being idled due to sustained weak market conditions and government regulations that have challenged the entire Central Appalachian mining industry. In accordance with requirements of the Worker Adjustment and Retraining Notification Act, notice has been given today to approximately 1,100 employees at 11 Alpha affiliated surface mines in West Virginia, as well as preparation plants and other support operations, advising them of the expected idling of those facilities based on Alpha's current assessment of market conditions. While no reductions in force are occurring immediately at these sites, they are currently planned to take place by mid-October.
News For ANR From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
May 29, 2015
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.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use