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Coal stocks lower following Moody's grim outlook

Oct. 01, 2015 12:34 PM ETPeabody Energy Corporation (BTU) StockBTU, WLB, CNX, ARLP, ARCH, KOL, CLDPQBy: Carl Surran, SA News Editor10 Comments
  • Coal stocks (KOL -0.7%) are broadly lower after Moody's issues a weak forecast for the North American coal industry, saying the outlook "remains negative amid ongoing challenges for both metallurgical and thermal coal, including declining coal consumption and low met coal prices."
  • The ratings agency forecasts a ~10% Y/Y decline in the industry's EBITDA for 2016, following the 25% drop it anticipates for 2015.
  • BTU -10.7% after allowing for a 1-for-15 reverse split that took effect today; also ACI -5.4%, CNX -6.4%, WLB -5.1%, CLD -3%, ARLP -0.7%.

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