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Stock Market & Financial Investment News

News Breaks
November 27, 2012
14:03 EDTBTUPeabody Energy to permanently close Willow Lake Mine
Big Ridge announced it will permanently close the Willow Lake Mine near Harrisburg, Ill. The mine has failed to meet acceptable standards for safety, compliance and operating performance, and these ongoing issues make the operations unsustainable, the company said. Worker Adjustment and Retraining Notification, or WARN, letters are being provided to approximately 400 employees. Willow Lake sold 2.2M tons in 2011. Peabody expects to incur a largely non-cash, one-time charge estimated at $40M-$60M, or 10c-15c per share after tax, in Q4 primarily to write off assets, increase asset retirement obligations and accrue severance. The company expects little effect on ongoing earnings from the closing, Peabody said.
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August 31, 2014
21:48 EDTBTUCoal stocks may get boost from Russia tensions, Reuters says
U.S. coal company stocks may get a boost in the near term if worsening relations between Russia and the West motivate President Putin to limit Europe’s natural gas supply, says Reuters. Publicly traded companies in the space include Alliance Resource Partners (ARLP), Alpha Natural (ANR), Arch Coal (ACI), CONSOL (CNX), Cloud Peak (CLD), Peabody (BTU) and Walter Energy (WLT). Reference Link
17:00 EDTBTUCoal miners become more optimistic as prices stabilize, WSJ says
Coal miners are becoming more optimistic as a two year glut of the fuel that has driven prices down seems to be abating, says the Wall Street Journal. Plant shutdowns and a pickup in buying from China and India are leading to more price stability and what some see as a gradual recovery, added the Wall Street Journal. Publicly traded companies in the space include Alliance Resource Partners (ARLP), Alpha Natural (ANR), Arch Coal (ACI), CONSOL (CNX), Cloud Peak (CLD), Peabody (BTU) and Walter Energy (WLT). Reference Link

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