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Alpha Natural Resources, Inc.

5/22/2013, 11:43 PM ET

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Monday, May 13, 3:43 PM Alpha Natural Resources (ANR -2.5%) slips today after Standard & Poor's lowered its outlook on the coal producer to Negative from Stable late Friday. The ratings agency noted that continued weakness in coal is likely challenge the company's operating conditions, especially within the Central Appalachian thermal and metallurgical coal markets. 1 Comment [Commodities, On the Move]
Wednesday, May 8, 12:55 PM Alpha Natural Resources' (ANR +5.6%) plan to sell at least $300M of convertible debt has shares recouping much of yesterday's 6.5% swoon. Sterne Agee says the debt refinancing "adds to already-solid financial flexibility" by extending debt maturities. Comment! [Energy, On the Move]
Tuesday, May 7, 8:25 AM Alpha Natural Resources (ANR) -2.5% premarket after Goldman Sachs downgrades shares to Sell from Neutral with a $5 price target (down from $9), due to its much greater exposure than peers to the firm's expectation of a very slow recovery in met coal prices. Goldman says shares are discounting a $190 metric ton 2014 benchmark met coal price vs. the firm's $180 forecast. 1 Comment [Energy, Quick Ideas, On the Move]
Monday, May 6, 11:30 AM Coal (KOL) is staging a comeback in the Midwest, as new technologies remove barriers to mining in the Illinois Basin, boosting output and bucking the overall trend, WSJ reports. The region had been largely ignored due to its coal deposits being richer in sulfur, but new scrubbing technology, which removes excess sulfur to meet emissions standards, causes companies to take a fresh look. 1 Comment [Energy]
Thursday, May 2, 8:27 AM More on Alpha Natural Resources' (ANR) Q1 results: Coal revenues fell 30% to $1.14B, but shipment volumes on an annualized basis were pacing ahead of the midpoint of prior full-year guidance for both Eastern and Western thermal coals. Generated $21M of free cash flow, enabling liquidity of ~$2.1B at the quarter's end, including ~$1B in cash. Shares +1% premarket. Comment! [Energy, Earnings]
Thursday, May 2, 7:04 AM Alpha Natural Resources (ANR): Q1 EPS of -$0.47 beats by $0.09. Revenue of $1.33B beats by $0.01B. (PR) Comment! [Earnings, Breaking News]
Thursday, May 2, 12:05 AM Notable earnings before Thursday’s open: ABMD, ACOR, ACT, AEE, ANR, ANSS, ARG, ARQL, ATK, AYR, BDBD, BDX, BEAM, BGCP, BZH, CAH, CEVA, CHD, CI, CME, CNP, CPN, CTRX, DIN, DNR, EL, ELNK, FIG, FLY, FNP, FWLT, GEL, GG, GIL, GM, GNRC, GOLD, HAR, HK, HSH, INCY, INGR, IP, IRDM, IT, ITT, K, LF, LQDT, LXP, MDC, MFC, MGI, MGM, MMC, MMP, MWW, NIHD, NNN, NUS, OCN, OGE, OXF, OZM, PCG, PPL, PWR, PXP, RGLD, RNO, SBH, SFY, SHPG, SNI, SPR, SRE, STRA, TEVA, VMC, VRX, WNR, WPX, WWE, XEL Comment! [Earnings]
Wednesday, May 1, 5:30 PM Notable earnings before Thursday’s open: ABMD, ACOR, ACT, AEE, ANR, ANSS, ARG, ARQL, ATK, AYR, BDBD, BDX, BEAM, BGCP, BZH, CAH, CEVA, CHD, CI, CME, CNP, CPN, CTRX, DIN, DNR, EL, ELNK, FIG, FLY, FNP, FWLT, GEL, GG, GIL, GM, GNRC, GOLD, HAR, HK, HSH, INCY, INGR, IP, IRDM, IT, ITT, K, LF, LQDT, LXP, MDC, MFC, MGI, MGM, MMC, MMP, MWW, NIHD, NNN, NUS, OCN, OGE, OXF, OZM, PCG, PPL, PWR, PXP, RGLD, RNO, SBH, SFY, SHPG, SNI, SPR, SRE, STRA, TEVA, VMC, VRX, WNR, WPX, WWE, XEL Comment! [Earnings]
Friday, April 19, 12:17 PM Peabody Energy (BTU -4.8%) gives back most of yesterday's 7.7% gain from better-than-expected Q1 results. Coal shares rallied broadly on the news as the modestly positive data was a relief for investors fearing the worst, but today the realization is that challenges remain for the coal markets. WLT -6.4%, ANR -3.9%, CLD -3.6%, CNX -2.8%, ACI -2.6%, CLF -1.9%. 4 Comments [Energy, On the Move]
Thursday, April 18, 2:07 PM Peabody (BTU +8%) posted a 13.5% Y/Y decline in revenues, attributable to a 12% drop in U.S. coal revenue and 6% fewer shipments; also, Australian revenue fell 13.6% on a 32% drop in realized pricing per ton. But the lack of further negative news is a positive, Cowen says. As the first (and largest) U.S. coal miner to report, BTU’s results offer a sneak peek at others: ACI +10.5%, ANR +7.7%, CNX +6%. 2 Comments [Energy, On the Move]
Monday, April 15, 6:35 AM After trimming its 2014 hard coking coal forecasts, Citi downgrades Alpha Natural Resources (ANR) and Arch Coal (ACI) to Neutral from Buy "because the valuation looks less attractive under our new forecasts... with utility stockpiles still elevated, coal shipments may not improve until summer and at the same time, we need to see a significant rise in pricing to drive a 2014 earnings improvement." 7 Comments [Quick Ideas, Energy]
Friday, April 12, 8:43 AM Walter Energy (WLT) +6.5% premarket after reporting a strong start to the year thanks to higher prices for coal used in steelmaking and rising production. A Brean Capital analyst says that while the performance was not surprising, many investors had feared the worst. Coal names are trading higher: JRCC +4.3%, ANR +2.4%, ACI +1.8%, BTU +1.5%, CLF +1.1%. 4 Comments [Energy, On the Move]
Friday, April 5, 12:10 PM Select coal stocks are on the move following a bullish note from Goldman Sachs, which predicts 10% Y/Y gains in demand for thermal coal as a result of less coal-to-gas switching; the higher forecast reflects an improved outlook for natural gas prices and normalized storage. ANR +3.8%, ACI +3.1%, CNX +2.7%, BTU +0.9%, CLD +0.2%. 8 Comments [Energy, Quick Ideas, On the Move]
Friday, March 22, 10:46 AM Jefferies takes a contrarian stance on coal, making a positive investment case for the surviving producers. All four major coal companies - ANR, ACI, CNX, BTU - have decades of reserves, so there's little need to spend money on exploration, the firm says; even at current prices, the industry should generate substantial levels of free cash flow for years to come. 27 Comments [Energy, Quick Ideas]
Friday, March 15, 4:40 PM Coal companies continue to flounder, and Cowen analysts think the met coal sector may not see improvement with no near-term positive catalysts on the horizon. Australia's rainy season has left met coal production relatively unscathed, and China's high inventories and weakening steel prices could pressure pricing. Among coals, the firm favors Walter Energy (WLT) for the long term. 30 Comments [Energy, Commodities]
Thursday, February 14, 12:49 PM Coal stocks (KOL +1.9%) have become much like solar stocks, each reacting to news about a competitor as it would react if the news was just about itself, Paul Ausick opines; there's money to be made only on volatility, not for the long term. But for today, gains are nearly across the board: ANR +14%, JRCC +7.3%, WLT +4.7%, BTU +4.4%, ACI +3.7%, RNO +3.2%, CNX +1.9%. 4 Comments [Energy, On the Move]

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