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Patriot Coal Corp. (PCXCQ)

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PCXCQ is defunct.
  • Oct. 31, 2013, 2:18 PM
    • Patriot Coal (PCXCQ +13%) says it has reached preliminary deals to secure $576M in bankruptcy-exit financing, the last essential component for reorganization plans and the ultimate successful emergence from Chapter 11.
    • The financing comes on the heels of two other crucial sources of funding for Patriot's reorganization plans: a $250M rights offering, which hedge fund Knighthead Capital has agreed to backstop, and a $310M settlement with Peabody Energy.
    | 11 Comments
  • Aug. 22, 2013, 12:59 PM
    | 9 Comments
  • Aug. 21, 2013, 3:19 PM
    • A federal appeals court keeps Peabody Energy (BTU -1.6%) on the hook for health benefits for ~3,100 retired Patriot Coal (PCXCQ.OB +40.2%) miners, a reversal of the bankruptcy judge's earlier ruling that BTU no longer owed the benefits.
    • Patriot praises the ruling, that BTU "should not be permitted to use Patriot's bankruptcy to escape its health care obligations to thousands of retirees."
    • Patriot earlier this year gained court permission to abrogate its labor deals for current and retired workers, and recently agreed to new, cost-cutting deals.
    | 8 Comments
  • Oct. 24, 2012, 10:16 AM
    Patriot Coal CEO (PCXCQ.OB -4.7%) Irl Engelhardt resigns and will be replaced by CFO Bennett Hatfield. Michael Scharf is named Chairman; he had served as the independent Lead Director of the Board. Patriot also is forming a special oversight committee to evaluate various litigation matters.
    | Comment!
  • Jul. 9, 2012, 3:45 PM
    Patriot Coal (PCX) resumes trading following the report of a bankruptcy filing possibly coming today. Shares move to penny stock status, -72% to $0.63.
    | 5 Comments
  • Jul. 9, 2012, 3:37 PM
    Patriot Coal (PCX) may file for bankruptcy as early as today, reports Bloomberg. Shares are halted, -35%. The company has apparently lined up debtor-in-possession financing as a precursor to the move.
    | 10 Comments
  • Jul. 9, 2012, 2:31 PM
    Pessimism about coal prices, which have been pressured in recent weeks by slumping Chinese demand, is taking a toll on the shares of many producers. PCX -10.1%. JRCC -9.3%. ACI -4.2%. ANR -6.1%. BTU -2.3%. WLT -3.2%.
    | 12 Comments
  • Jul. 6, 2012, 9:10 AM
    Premarket gainers: BOOT +81%. PCX +10%. JRCC +6%.
    Losers: INFA -30%. ALXA -11%. APKT -10%. AONE -8%. SQNM -6%.
    | Comment!
  • Jul. 5, 2012, 12:53 PM
    Coal stocks (KOL +1.7%) are making a comeback, adding to Tuesday's sharp gains as strong foreign demand for coal raises prospects for the industry. Patriot Coal (PCX +38%) has jumped more than 80% in the last three trading sessions, but shares are still only one-tenth of their 52-week high. JRCC +19.1%, ANR +3.8%, ACI +2.7%, BTU +1%.
    | 4 Comments
  • Jul. 5, 2012, 9:10 AM
    Premarket gainers: PCX +11%. NSPH +5%. SXCI +5%. OSUR +5%.
    Losers: BKE -7%. VE -7%. BBVA -5%.
    | Comment!
  • Jul. 3, 2012, 2:52 PM
    Coal company shares soared today, perhaps thanks to a Bloomberg report describing Europe's exploding demand for coal despite tough EU restrictions on carbon emissions. Coal is now more competitive to burn in Europe than gas, and more of Europe's coal may come from the U.S. PCX +33.3%, ANR +6.4%, BTU +5.4%, ACI +3.8%, JRCC +9.8%.
    | 7 Comments
  • Jun. 29, 2012, 9:16 AM
    Premarket gainers: STZ +18%. SWHC +13%.
    AMPE +12%. NBG +14%. FSIN +13%. PCX +9%. KBH +9%. ING +8%. LXRX +8%. IRE +7%. BBVA +7%. DB +7%. IVN +7%. MTG +7%. ALU +7%. GSS +6%. LNCR +5%. RIO +6%. ATPG +6%. MT +6%. HZNP +6%. SAN +6%. CLNE +6%. STM +6%. CS +6%. BBL +5%. GALE +5%. OREX +7%. SI +5%. VALE +5%. BHP +5%.
    Losers: RIMM -14%. NKE -10%. TMH -7%. SPPI -6%.
    | 1 Comment
  • Jun. 26, 2012, 3:41 PM
    Standard & Poor's downgrade of James River Coal (JRCC -15%), which forecast deteriorating liquidity for the company based on the likelihood of weaker coal markets through 2013, is reverberating through the coal sector, also sending peers plummeting: PCX -7.6%, ACI -5.1%, ANR -2%, BTU -1.1%.
    | 23 Comments
  • Jun. 22, 2012, 10:39 AM
    Patriot Coal (PCX) -8.1% on news the company will be replaced in the S&P MidCap 400 index, to be replaced by Alexander & Baldwin (ALEX). PCX is currently ranked #400 in the MidCap 400 and is "no longer representative of the midcap market space."
    | 1 Comment
  • Jun. 15, 2012, 9:10 AM
    Premarket gainers: YPF +13%. BVSN +12%. PCX +4%.
    Losers: SDT -6%.
    | Comment!
  • Jun. 11, 2012, 3:09 PM
    Thermal coal prices fall to a two-year low as surging exports from Indonesia, the world’s largest coal producer, and the U.S. continue to overwhelm demand from Asia. The slide hits the share price of thermal coal miners (KOL -1.5%), with the valuation of some approaching their lowest in more a decade: ACI -2.1%, ANR -7.5%, BTU -4%, PCX -11.7%, JRCC -6.8%.
    | 9 Comments
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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