Patriot Coal Corp. (PCXCQ) - OTCQB
PCXCQ is defunct.
  • May 22, 2012, 3:02 PM

    Patriot Coal's (PCX -29.4%) news release this afternoon offered no new information, 24/7's Paul Ausick writes. It doesn’t deny the company's need for restructuring help, and says nothing new about the $625M term loan it couldn't close last week. "Is the commitment letter signed, sealed, and delivered? Doesn’t sound like it."

    | May 22, 2012, 3:02 PM
  • May 22, 2012, 2:30 PM

    Patriot Coal (PCX -27.1%) shares claw back only slightly as trading resumes after news of the company's new revolving credit facility. Other coal stocks (KOL -1.8%) still depressed: BTU -2.9%, WLT -4.6%, CNX -1.6%, ACI -4.9%, ANR -3.2%, JRCC -8%.

    | May 22, 2012, 2:30 PM | 1 Comment
  • May 22, 2012, 2:13 PM

    Patriot Coal (PCX) says it has entered into a commitment letter for a new revolving credit facility and new term loan facility for a total of $625M. Shares had collapsed -34.5% before the announcement; trading now halted.

    | May 22, 2012, 2:13 PM
  • May 22, 2012, 12:19 PM
    Patriot Coal (PCX -28.6%) plunges and is pulling all coal stocks (KOL -1.8%) lower, due to a report the company has fielded informal pitches from bankruptcy advisors. Last week, PCX delayed a refinancing after disclosing a potential contract cancellation from a key customer. ACI -7%, JRCC -6.3%, ANR -5.1%, BTU -3.8%, WLT -3.5%, CNX -2.3%.
    | May 22, 2012, 12:19 PM | 10 Comments
  • May 16, 2012, 12:32 PM
    Patriot Coal (PCX -5.6%) shares take another leg down as S&P downgrades the company's credit rating to B- from B with a negative outlook, reflecting weaker demand for metallurgical coal in the export market and for thermal coal because of a warmer-than-normal winter. (earlier)
    | May 16, 2012, 12:32 PM
  • May 16, 2012, 10:24 AM

    Patriot Coal (PCX -1%) is downgraded by FBR Capital to Market Perform with a $4 target price, down from $9, as the firm now thinks uncertainties surrounding potential financing commitments have increased since PCX said a key customer potentially defaulted on contractual commitments. Imperial Capital starts coverage of PCX at Underperform.

    | May 16, 2012, 10:24 AM | 1 Comment
  • May 15, 2012, 9:09 AM

    Patriot Coal (PCX) -3.7% premarket after the company revises its metallurgical coal contracted position of 3.9M tons at an average of $142/ton for the remainder of 2012 from 4.9M tons at $138/ton and 0.2M tons at an average $122/ton for 2013. In response, Citi cuts its price target for PCX shares to $6 from $7.

    | May 15, 2012, 9:09 AM
  • May 8, 2012, 6:23 AM
    Patriot Coal (PCX): Q1 EPS of -$0.82 misses by $0.42. Revenue of $502.6M (-13% Y/Y) misses by $50M. (PR)
    | May 8, 2012, 6:23 AM | 1 Comment
  • Apr. 20, 2012, 3:31 PM

    Predictions of further coal production cuts (I, II) are coming to fruition, as Patriot Coal (PCX -8.2%) says it will again reduce production of thermal coal in response to persistently weak demand. Rock-bottom prices for natural gas have been a massive headwind for coal producers as they struggle to compete with the cheaper power source.

    | Apr. 20, 2012, 3:31 PM | 2 Comments
  • Apr. 19, 2012, 11:03 AM

    A stellar earnings report from Peabody Energy (BTU +6.9%) - fueled in part by production gains in Australia - spills over to help lift up other select names in the beat-up sector along with word that U.S. coal exports to China may double in 2012. Advancers: PCX +6.6%, ANR +3.8%, CNX +2.8%, ACI +6.5%, ARLP +4.9%.

    | Apr. 19, 2012, 11:03 AM
  • Apr. 18, 2012, 11:45 AM

    Patriot Coal (PCX +1%) gains on an upgrade to Equal Weight at Morgan Stanley based on expectations that a bottom is in on met coal prices. The firm also raises its price target raised to $7 from $5.

    | Apr. 18, 2012, 11:45 AM | 1 Comment
  • Apr. 18, 2012, 9:03 AM

    Premarket gainers: CHSI +32%. SXCI +9%. IVN +9%. URI +9%. HDY +4%. WYNN +4%. FSLR +3%. PCX +3%. WLT +3%. STX +3%.
    Losers: GNW -11%. CREE -7%. ALU -5%. STD -4%. TEF -4%. SYT -3%. BEE -3%. ASML -3%. CHK -3%. UBS -3%. SNE -3%. LOGI -3%. INTC -3%.

    | Apr. 18, 2012, 9:03 AM
  • Apr. 11, 2012, 9:10 AM

    Premarket gainers: TZOO +30%. TITN +16%. THLD +7%. MITK +6%. BBVA +6%. BCS +6%. AA +5%. ING +5%. IRE +5%. DB +5%. RENN +5%. PCX +5%. HOV +5%. FRO +4%. STD +4%. DRYS +4%. ALU +4%. MT +4%. AVP +4%. GNW +4%. ARNA +4%. ACI +3%. MTL +3%. ZNGA +3%. SSL +3%. DLLR +3%. WLT +3%. RIO +3%. TEF +3%. X +3%. ANR +3%.
    Losers: NOK -16%.

    | Apr. 11, 2012, 9:10 AM | 1 Comment
  • Apr. 9, 2012, 10:32 AM

    UBS says more U.S. coal production cuts are coming and that thermal demand is waning due to weather and natural gas fuel switching. The firm expects a material impact to thermal producer estimates and sizable cuts at Arch Coal (ACI +0.5%) and for Alpha Natural (ANR +1.2%), Patriot Coal (PCX +0.5%) and James River Coal (JRCC -4.3%) to adjust production also.

    | Apr. 9, 2012, 10:32 AM | 6 Comments
  • Mar. 22, 2012, 11:32 AM
    Coal stocks keep up their hypersensitivity to data on the direction of China's economy, falling hard on today's weak PMI number. It's not without some merit though, given that China consumes a whopping 1.3B short tons a year of coal - 24% more than the U.S. manages to burn. Decliners: PCX -4.9%, CNX -3.9%, ANR -3.9%, BTU -3.2%.
    | Mar. 22, 2012, 11:32 AM | 1 Comment
  • Mar. 20, 2012, 3:44 PM

    Coal stocks are weak today, after Sterne Agee says they see a nonexistent market for spot and near-term coal prices as utilities continue to wrestle with unexpected generation declines, and to expect more production cuts for the industry: Patriot Coal (PCX -3.3%), Peabody Energy (BTU -5.4%) and Alpha Natural Resources (ANR -4.4%).

    | Mar. 20, 2012, 3:44 PM | 2 Comments
Company Description
We are a leading producer of thermal coal in the eastern United States (U.S.), with operations and coal reserves in Appalachia and the Illinois Basin. We are also a leading U.S. producer of metallurgical quality coal. Our principal business is the mining, preparation and sale of thermal coal,... More
Industry: Industrial Metals & Minerals
Country: United States