- Walter Energy (NYSE:WLT) +3.3% premarket on news it will begin idling its Canadian operations, including the Wolverine and Brazion coal mines in British Columbia.
- WLT will place Wolverine on idle status effective immediately, with Brazion expected to be idled by July 2014; ~700 employees will be laid off.
- Expects to incur severance charges of ~$7M in Q2 in connection with the idling of the mines.