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Stock Market & Financial Investment News

News For MSBHY;BTU;ACI;CLF;BHP From The Last 14 Days
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May 1, 2015
13:49 EDTBHPWestmoreland agrees in principle to buy San Juan Mine, enter coal supply deal
Westmoreland Coal (WLB) announced that it has agreed in principle to purchase the San Juan Mine in Farmington, New Mexico from BHP Billiton (BHP) and enter into a new long-term coal supply agreement with the owners of the San Juan Generating Station. The contemplated new coal supply agreement states that Westmoreland will take over operations at the beginning of 2016. The new coal supply agreement expires in 2022, but SJGS owners can extend the agreement beyond 2022, to coincide with the SJGS owners’ plans for operation of the plant after 2022. The new coal supply agreement and the agreement in principal for Westmoreland to purchase San Juan Mine will not be final or binding until all parties have secured internal approvals.
11:00 EDTBHPSan Juan would be ideal dropdown candidate for Westmoreland, says Brean Capital
After PNM Resources (PNM) announced Westmoreland Coal (WLB) will take over coal operations servicing the San Juan Generating Station in New Mexico from BHP Billiton (BHP) in early 2016, Brean Capital said it thinks these assets would be an "ideal" candidate for further dropdown to Westmoreland LP (WMLP), which the firm would expect to be an accretive transaction for Westmoreland. Brean, which views Westmoreland's track record of executing attractive acquisitions as "solid" in recent year, reiterates its Buy rating and $46 price target on the shares.
09:50 EDTBTUPeabody downgraded to Underperform from In-Line at Imperial Capital
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09:47 EDTBTUPeabody downgraded to Underperform from In-Line at Imperial Capital
09:02 EDTBHPPNM Resources to file two agreements with New Mexico regulators
PNM Resources' (PNM) New Mexico electric utility, Public Service Co. of New Mexico, will file with the New Mexico Public Regulation Commission substantially final coal supply and participant restructuring agreements for San Juan Generating Station. The agreements will be filed as part of PNM’s ongoing regulatory proceedings seeking NMPRC approval of the SJGS Plan settlement agreement filed in October 2014. Approval of the settlement agreement is an important step in implementing a revised state plan that benefits customers and complies with federal visibility regulations under the Clean Air Act. The new coal supply agreement states that the intended new coal mine owner, Westmoreland Coal Company (WLB), will take over operations at the beginning of 2016. The current agreement with the existing coal mine owner, BHP Billiton (BHP), would have terminated at the end of 2017. The earlier transaction date allows PNM customers to more quickly benefit from fuel savings of approximately 15-20 percent in 2016 and 2017. The savings will be passed along to customers through the company’s fuel clause. The new coal supply agreement expires in 2022, but SJGS owners can extend the agreement beyond 2022, to coincide with the SJGS owners’ plans for operation of the plant after 2022. The new coal supply agreement and the agreement in principle for Westmoreland to purchase San Juan Mine will not be final or binding until all parties have secured internal approvals. PNM and the other owners of the plant will now work to secure all final approvals from their respective governing bodies. A SJGS participant restructuring agreement will also be filed today with the NMPRC, identifying the ongoing ownership of the plant effective January 1, 2018. The agreement identifies PNMR Development and Management Company, an unregulated subsidiary of PNM Resources, as the owner of 65 MWs of SJGS Unit 4. SJGS is currently jointly owned by PNM and eight other entities. This agreement allows for the exit of certain participants while, combined with the shutdown of SJGS Units 2 and 3 under the revised state plan, defines the terms of ownership of the remaining capacity among the remaining participants.
05:58 EDTBHPBHP Billiton, Barbadoes sign exploration licenses
The Government of Barbados and BHP Billiton yesterday signed exploration licenses for two offshore blocks, Carlisle Bay and Bimshire. These blocks are approximately 40 kilometers southeast of the island nation, total about 5,000 square kilometers and are located in waters ranging from approximately 1,200 to 2,000 meters in depth. Upon approval by the Government of an environmental impact assessment and environmental plan, BHP Billiton will commence the first three-year phase, which includes conducting a 2D seismic survey on the two exploration blocks. With favorable results, BHP Billiton may enter an optional second phase of three years to perform a 3D seismic survey, followed by an optional third phase of two years to drill exploration wells.
April 29, 2015
11:20 EDTCLFStocks with call strike movement; VXX CLF
iPath S&P 500 VIX Short-Term Futures (VXX) September 26 call option implied volatility increased 2% to 70, Cliffs Natural (CLF) October 6 call option implied volatility decreased 1% to 69 according to IVolatility.
10:23 EDTCLFCliffs Natural says 'confident' company will manage through current cycle
Says "confident" company will manage through current cycle. Says will methodically allocate capital, take costs out of business in response to current environment. Says met coal prices "under pressure," says cost discipline "must remain a priority." Says North American coal business considered non-core asset, but says not shutting down these operations during sale process. Says further reduced corporate headcount in Q1 by 25%. Says seeking to keep Asia Pacific iron ore asset cash flow positive in low near-term pricing environment. Says has long-term contracts in place that substantially protect company from pricing volatility. Says expects to continue to reduce net debt by increasing available cash balances. Says sees stronger business for clients in 2H. Comments made on the Q1 earnings conference call. Cliffs Natural is down 2.39% to $5.73 in morning trading.
09:26 EDTCLFOn The Fly: Pre-market Movers
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April 28, 2015
19:10 EDTCLFOn The Fly: After Hours Movers
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16:33 EDTCLFCliffs Natural cuts FY15 capex view to $100M-$125M
Cliffs is lowering its FY15 capital expenditures budget to a range of $100M-$125M, from its previous expectation of $125M-$150M. This reduction reflects a continued focus on reducing expenditures. The spending range includes outflows related to North American Coal and assumes no additional asset divestitures.
16:32 EDTCLFCliffs Natural lowers FY15 sales and production volume view to 20.5M tons
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16:31 EDTCLFCliffs Natural reports Q1 adjusted EPS 2c, consensus (19c)
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15:06 EDTCLFNotable companies reporting after market close
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10:49 EDTCLFCliffs Natural announces increase in sales price for Chromite assets
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April 23, 2015
11:45 EDTBTUPeabody says MLP creation 'an interesting option for us' going forward
Comment made on the Q1 earnings conference call. Peabody Energy is down 7.6% to $4.50 in late-morning trading.
08:11 EDTBTUPeabody sees FY15 sales volume 235M-255M tons
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08:09 EDTBTUPeabody sees Q2 adjusted EPS (59c)-(49c), consensus (34c)
Sees Q2 adjusted EBITDA $135M-$175M.
08:08 EDTBTUPeabody has $685M in potential annual cash improvement by early 2017
The cash improvement is related to $275M in lower cash payments related to Southern Powder River Basin reserve installments that end in 2016; $75M in lower cash payments related to health benefit trust payments that expire in January 2017; and $335M in potential lower currency rates and fuel prices as legacy hedge transactions roll off.
08:07 EDTBTUPeabody taking additional measures to improve four areas of business
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08:05 EDTBTUPeabody cuts 2015 US volume targets by 10M tons in light of market conditions
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08:05 EDTBTUPeabody: Thermal coal production curtailments beginning to accelerate
The company said seaborne metallurgical coal supply is expected to decline for the first time in three years. The impact of slowing Chinese demand has weighed on the market. Expects rising Indian coal imports, ongoing global urbanization trends and economic growth to lead to rising steel and electricity consumption over the next several years. Chinese coal imports remain challenged amid slower demand and efforts to support the domestic coal industry, including quality restrictions, tariffs and lower domestic taxes that have temporarily prevailed over delivered import economics. India is expected to surpass China to become the largest seaborne coal importer in 2015.
08:03 EDTBTUPeabody reports cost reductions offset $100M in lower pricing in Q1
08:03 EDTBTUPeabody reports Q1 adjusted EPS (62c), consensus (32c)
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April 22, 2015
15:50 EDTBTUNotable companies reporting before tomorrow's open
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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.
07:53 EDTACIArch Coal sees 2015 total sales volume 126.0M tons-136.8M tons
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07:50 EDTACIArch Coal believes coal exports from U.S. will decline below 90M tons in 2015
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07:47 EDTACIArch Coal reports Q1 adj. EPS (54c), consensus (47c)
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April 20, 2015
15:37 EDTACINotable 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.
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