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Stock Market & Financial Investment News

News Breaks
December 11, 2013
10:02 EDTWLTRumor: Walter Energy moves up on speculation of an activist investor stake
News For WLT From The Last 14 Days
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April 21, 2014
12:00 EDTWLTWalter Energy falls 9.1%
Walter Energy is down 9.1%, or 72c, to $7.19
10:01 EDTWLTOn The Fly: Analyst Downgrade Summary
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10:00 EDTWLTWalter Energy falls 9.4%
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06:14 EDTWLTWalter Energy downgraded to Sell from Neutral at Goldman
Goldman downgraded Walter Energy due to an increased PRB coal price outlook, potential liquidity issues, and believes the $250M asset sale goal will be difficult to achieve. Price target lowered to $5 from $9.
April 17, 2014
03:35 EDTWLTStocks with implied volatility movement; WLT ZNGA
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April 15, 2014
15:12 EDTWLTWalter idling step in right direction but industry needs more cuts, says UBS
UBS believes Walter Energy's decision to idle its Canadian operations should lower the company's pace of cash burn and is "a step in the right direction" for the coal industry, but the firm still thinks more production cuts are needed for met coal prices to rebound. The firm thinks it will be hard for Walter to reach its asset sale target and maintains its Sell rating on the stock.
11:37 EDTWLTWalter Energy asset sales in Canada would be difficult, says Brean Capital
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09:35 EDTWLTActive equity options trading on open
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09:09 EDTWLTWalter Energy to idle Canadian operations, temporarily lay off employees, staff
Walter Energy will begin idling its Canadian operations, including the Wolverine and Brazion coal mines in British Columbia, in April. The company will place its Wolverine mine on idle status effective immediately. Brazion will continue to operate the Brule mine but expects to idle the mine by July. The company will continue to operate its preparation plants at these mines to complete processing of coal that already has been mined and is in inventory. For 2013, coal production from Wolverine, which produces mid-volatile hard coking coal, was 1.6M metric tons, while the Brazion mines produced approximately 1.9M metric tons of low-vol PCI and 0.1M metric tons of hard coking coal. As of December 31, 2013, Walter Energy had approximately 1.1M metric tons of coal in inventory in Canada. Employment impacts include temporary layoffs of approximately 415 employees at the Wolverine mine, approximately 280 employees at Brazion, and other administrative support staff. A limited number of employees will remain at each site to operate the preparation plants and, once coal processing is complete, to perform ongoing equipment maintenance and provide ongoing security for the sites during the idle period.

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