New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 8, 2014
11:38 EDTANR, WLB, WLT, ACICoal producers retreat after Morgan Stanley lowers price forecast
Shares of some coal producers are falling after Morgan Stanley reduced its price targets on several names in the sector. WHAT'S NEW: Morgan Stanley analyst Evan Kurtz warned that metallurgical coal prices may rebound more slowly than the firm had previously expected. The firm's commodity forecasters reduced their outlook for met coal prices to $133 from $160 per ton in 2015, Kurtz reported. Chinese imports have been weak so far this year, as exports to that country from Australia have risen, the analyst explained. However, production cuts should still help prices rise next year, Kurtz stated. Nonetheless, he cut his price target on Walter Energy (WLT) to $16 from $26, on Alpha Natural (ANR) to $4 from $5 and on Arch Coal (ACI) to $2 from $3. He kept an Overweight rating on Walter Energy, an Equal Weight rating on Alpha Natural and an Underweight rating on Arch Coal. COMPANY NEWS: In addition to the analyst opinion, two of the companies in the sector, Walter Energy and Westmoreland Coal (WLB), announced news this morning. Walter Energy announced that it has commenced a private offering of $320M aggregate principal amount of 9.5% senior secured notes due 2019. Walter also disclosed in a regulatory filing earlier that its preliminary metallurgical coal production for Q2, including both hard coking coal and low-volatility pulverized coal injection product, was 2.5M metric tons, and that its preliminary metallurgical coal sales for Q2 was 2.7M metric tons. Additionally, Walter noted that it incurred severance charges of approximately $7M in Q2 in connection with the idling of its mines in Canada. For its part, Westmoreland disclosed in a regulatory filing that the company currently anticipates reporting adjusted EBITDA in the range of $35M-$38M for the three months ended June 30. WHAT'S NOTABLE: On June 20, another research firm, Sterne Agee, recommended that risk-tolerant investors buy Alpha Natural. The firm predicted that the company would benefit from normalizing thermal and metallurgical coal prices. According to Sterne Agee, the market was underestimating several of Alpha Natural's positive catalysts. PRICE ACTION: In late morning trading, Walter Energy sank 5.4% to $5.82, Alpha Natural gave back 7.2% to $3.37, Arch Coal retreated 5.2% to $3.22, and Westmoreland sank 5% to $34.97.
News For WLT;ANR;ACI;WLB From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
April 24, 2015
07:04 EDTWLBWestmoreland reports Q1 EPS (67c), may not compare to consensus 24c
Subscribe for More Information
April 21, 2015
07:53 EDTACIArch Coal sees 2015 total sales volume 126.0M tons-136.8M tons
Subscribe for More Information
07:50 EDTACIArch Coal believes coal exports from U.S. will decline below 90M tons in 2015
Subscribe for More Information
07:47 EDTACIArch Coal reports Q1 adj. EPS (54c), consensus (47c)
Subscribe for More Information
April 20, 2015
15:37 EDTACINotable companies reporting before tomorrow's open
Subscribe for More Information
April 17, 2015
18:12 EDTANRAlpha Natural receives NYSE notice of non-compliance
Subscribe for More Information
10:00 EDTWLBOn The Fly: Analyst Initiation Summary
Subscribe for More Information
06:46 EDTACI, ANR, WLTCourt 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
17:15 EDTWLBWestmoreland initiated with a Buy at BB&T
Target $40.
April 15, 2015
07:37 EDTWLTWalter Energy provides update on efforts to improve capital structure
Subscribe for More Information
April 13, 2015
10:00 EDTANROn The Fly: Analyst Downgrade Summary
Subscribe for More Information
06:05 EDTANRAlpha Natural downgraded to Sell from Neutral at UBS
UBS downgraded Alpha Natural to Sell on expectations the company will become "more distressed" amid the slower recovery in coal and gas prices. The firm cut its price target for shares to 50c from $1.25.

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