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February 27, 2013
11:49 EDTVALE, BTU, TCK, JOY, CLF, WLTJoy Global CEO cites 'significant destocking of commodities in key markets'
On the Q1 earnings conference call , Mike Sutherlin, President and CEO of Joy Global noted a significant destocking of commodities in key markets. The resurgence of steel production in China dropped iron ore inventories from over a 90 million-ton run rate to just 74 million tons by year-end while imports reached record levels and metallurgical coal inventories at the mills dropped from 31 to just 19 days over the same period.
News For JOY;BTU;WLT;TCK;VALE;CLF From The Last 14 Days
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April 21, 2015
17:51 EDTCLFCommunications Sales & Leasing to replace Cliffs Natural in S&P 400 as of 4/24
Communications Sales & Leasing (CSALV) will replace Cliffs Natural Resources (CLF) in the S&P MidCap 400 after the close of trading on Friday, April 24. S&P MidCap 400 constituent Windstream Holdings (WIN) is spinning off Communications Sales & Leasing in a transaction expected to be completed on or about that date pending final conditions. Windstream will remain in the S&P MidCap 400 following the spin-off transaction. Cliff Natural Resources has a market capitalization below $800M and is no longer representative of the mid-cap market space.
17:30 EDTCLFCommunications Sales & Leasing to replace Cliffs Natural in S&P 400 as of 4/24
12:57 EDTBTUPeabody CEOs request voluntary, temporary base pay cut
In a regulatory filing, Peabody announced that in light of current business conditions and to align on a personal level with the company’s ongoing cost reduction strategies, Gregory Boyce, the Chairman and CEO, and Glenn Kellow, the President and CEO-elect, requested a voluntary and temporary base salary reduction for the remainder of calendar year 2015. Following those requests, on April 21 and April 20, respectively, Peabody Energy entered into letter agreements with each of Messrs. Boyce and Kellow to temporarily reduce his base salary by 10% for the period from May 1 through December 31, 2015.
05:52 EDTTCKTeck Resources continue to experience challening market for products
The company said, "We continue to experience challenging markets for our products and prices for some of our products have declined significantly in the last year. Commodity markets have historically been volatile, prices can change rapidly and customers can alter shipment plans. This can have a substantial effect on our business. Demand for coal, particularly in China, is weakening. Increased supply from Australian mines has also put downward pressure on coal prices. While we believe that the longer term fundamentals for steelmaking coal, copper and zinc are favorable, the weakness in some of these markets may persist for some time. We are also significantly affected by foreign exchange rates. For the twelve months to December 31, 2014, the U.S. dollar strengthened by approximately 9% against the Canadian dollar, which has had a positive effect on the profitability of our Canadian operations. It will, to a lesser extent, put upward pressure on the portion of our operating costs and capital spending that is denominated in U.S. dollars. In the first quarter of 2015 the U.S. dollar has strengthened by a further 9% against the Canadian dollar."
05:52 EDTTCKTeck Resources sees Q2 coal sales to be around 6M tonnes
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05:51 EDTTCKTeck Resources reports Q1 Pend Oreille production of 6K tonnes
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05:51 EDTTCKTeck Resources reports Q1 adjusted EPS C11c, consensus C15c
Reports Q4 revenue C$2.02B vs. C$2.11B. The company commented, "Commodity markets continue to be challenging. Prices for steelmaking coal have fallen further since the beginning of the year and the market for steelmaking coal remains oversupplied, primarily due to indications of weakening demand in China."
April 20, 2015
15:37 EDTTCKNotable companies reporting before tomorrow's open
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09:18 EDTCLFOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Morgan Stanley (MS), up 2.1%... Cliffs Natural (CLF), up 1.3%... Check Point Software (CHKP), up 1.1%. ALSO HIGHER: Genetic Technologies (GENE), up 28.2% after additional health centers to offer BREVAGenplus... Hanwha Q Cells (HQCL), up 16.2% following solar module supply agreement with NextEra Energy (NEE)... Provectus (PVCT), up 6.7% after receiving notice of allowance for PV-10 combined with other drugs. DOWN AFTER EARNINGS: Royal Caribbean (RCL), down 6.1%... FARO (FARO), down 16.4%. ALSO LOWER: Yandex (YNDX), down after Barron's recommends that investors take some profits... Carnival (CCL), down 2% after Royal Caribbean reported quarterly results.
April 17, 2015
06:46 EDTWLT, BTUCourt looks poised to deny challenge to coal emissions rule, NY Times says
A federal appeals court seemed inclined to dismiss a lawsuit challenging the EPA's rule restricting carbon emissions from coal-fired power plants, The New York Times reported yesterday. Publicly traded companies in the coal 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
April 16, 2015
11:20 EDTJOYJoy Global management to meet with Jefferies
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April 15, 2015
12:52 EDTCLFStocks with call strike movement; WUBA CLF (WUBA) July 70 call option implied volatility decreased 4% to 56, Cliffs Natural (CLF) October 6 call option implied volatility decreased 2% to 68 according to IVolatility.
10:46 EDTCLFBofA/Merrill metals/mining/steel analysts hold analyst/industry conference call
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10:00 EDTVALEOn The Fly: Analyst Downgrade Summary
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07:37 EDTWLTWalter Energy provides update on efforts to improve capital structure
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06:47 EDTVALEVale downgraded to Neutral from Overweight at JPMorgan
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April 13, 2015
10:00 EDTTCK, VALEOn The Fly: Analyst Downgrade Summary
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09:32 EDTTCKTeck Resources provides update on Fort Hills marketing and logistics
Teck Resources announced that it has put in place an important step of its marketing and logistics plan for its 36,000 barrels per day, or bpd, share of bitumen production from the Fort Hills oil sands project, securing storage and terminal service capacity. Teck has reached agreement with Gibson Energy for the construction of a 500,000 barrel dedicated storage tank at the Gibson terminal in Hardisty, Alberta, a major hub for pipeline transportation throughout North America with connectivity to the Enbridge and Keystone export pipelines as well as area unit train loading facilities.
09:26 EDTVALEVale downgraded to Sell from Neutral at UBS
06:07 EDTTCKTeck Resources downgraded to Neutral from Buy at UBS
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