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WLT

Walter Energy, Inc.

5/20/2013, 4:47 AM ET

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Wednesday, May 8, 10:40 AM Walter Energy (WLT +8%) opens strong following notable insider buying. In multiple SEC filings out late yesterday, WLT's CEO, three senior vice presidents and two directors reported buying a total of 28,585 shares at $16.81-$17.72 on May 6-7 worth ~$500K (I, II, III, IV, V, VI). Comment! [Energy, On the Move]
Wednesday, May 1, 4:04 PM Walter Energy (WLT): Q1 EPS of -$0.64 beats by $0.23. Revenue of $491M misses by $16.45M. (PR) 1 Comment [Earnings, Breaking News]
Thursday, April 25, 11:31 AM Walter Energy (WLT +4.8%) says preliminary results indicate shareholders elected all the company's board nominees by wide margins and rejected all five Audley Capital nominees. Shares also may have been helped early by renewed takeover chatter. 6 Comments [Energy, On the Move]
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]
Tuesday, April 16, 10:51 AM Activist investor Audley Capital, reeling after advisory firms ISS and Glass Lewis come out in support of Walter Energy (WLT -3.1%), strikes back with a new letter saying WLT's board is "ill prepared" to respond to met coal's continued price deterioration. Audley says WLT could face a liquidity crisis, and the board's "lack of sophistication" would make it difficult to pursue needed financing. 1 Comment [Energy, On the Move]
Monday, April 15, 7:00 PM The list of 52-week lows reached today is littered with miners and resource names: ABX, ACI, AG, AKS, ANV, AU, AUQ, AUY, CDE, CLF, CVE, EGO, EXK, EXXI, FCX, FNV, FST, GFI, GG, GOLD, HL, HMY, IAG, IPI, KGC, MHR, MT, MTL, NEM, NFX, NG, NGD, NOG, PAAS, PWE, RGLD, RIC, SA, SAND, SGY, SSRI, SVM, TCK, TGB, TRQ, WLT, WTI, X. 5 Comments [Commodities, Energy]
Monday, April 15, 8:28 AM Walter Energy (WLT) says proxy advisory firm ISS has advised shareholders to back its slate of board nominees over those nominated by activist investor Audley Capital, a major boost for WLT in its battle with the hedge fund that wants to replace half of WLT's board at the April 25 annual meeting. Last week, advisory firm Glass Lewis also backed WLT's nominees. WLT -3.2% premarket. Comment! [Energy, On the Move]
Friday, April 12, 3:10 PM Walter Energy (WLT +0.5%) shares swing back to positive territory following Audley Capital's response to Glass Lewis' support of WLT's board. The activist Audley says Glass Lewis fails to judge WLT against appropriate industry peers and mistakenly focuses on comparisons with thermal coal producers rather than met coal peers. (also) Comment! [Energy]
Friday, April 12, 1:13 PM Proxy advisory firm Glass Lewis recommends Walter Energy (WLT -1.1%) shareholders back its entire list of board nominees over those put forward by activist investor Audley Capital, which is aiming to replace half of WLT's board at its April 25 annual meeting. But shares fail to hold early gains after the company issued positive met coal guidance. 2 Comments [Energy]
Friday, April 12, 9:10 AM Premarket gainers: FST +12%. IOC +8%. WLT +7%. ASH +5%.
Losers: INFY -18%. HIMX -9%. MNKD -8%. Comment! [On the Move]
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]
Thursday, April 11, 5:15 PM Walter Energy (WLT) +6.7% AH after reporting improved Q1 performance vs. Q4 2012, driven by increased metallurgical coal sales volume and price, increased production and lower costs. Says it is seeing stronger demand and improved pricing, with Q2 benchmark prices of $172/metric ton for hard coking coal and $141/metric ton for low vol PCI. 3 Comments [Energy, On the Move]
Thursday, March 28, 9:08 AM Walter Energy's (WLT) move to curtail its Willow Creek mine should improve 2013 EPS by $0.08-$0.10, KeyBanc says. The mine's primary product, PCI, achieved benchmark pricing of just $123/mt and $141/mt in Q1 and Q2, and Willow likely will stay shuttered until PCI rises toward $180/mt. But the firm projects a loss of $0.90/share for 2013 due to weakened met coal pricing and demand risk. Comment! [Energy]
Wednesday, March 27, 4:22 PM Walter Energy (WLT) says it will curtail production at its Willow Creek mine in British Columbia, resulting in 250 job losses out of 350 workers employed there. Willow Creek is the fifth mine WLT has announced plans to curtail or idle as part of its initiatives to address underperforming assets. Shares -1.9% AH. Comment! [Energy, On the Move]
Monday, March 25, 8:27 AM Walter Energy (WLT) says it has "serious concerns" about Audley Capital's slate of nominees to replace the majority of its board, accusing the hedge fund's nominees of insider trading, deficient governance, and misrepresentations of experience. Audley sends out its own letter, saying it is "baffled" that WLT consistently provides "incorrect" quarterly earnings guidance to analysts. 2 Comments [Energy]
Friday, March 22, 10:09 AM Walter Energy (WLT +4.7%) announces a $350M private offering of 8-year senior notes. The company, which is embroiled in a dispute over Board seats with hedge fund Audley Capital, says the proceeds from the note sale will go towards repaying $250M in debt. Comment! [Energy, Commodities]

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