Seeking Alpha

Seeking Alpha Portfolio App for iPad

3,115 people get WLT articles and Market Currents by email alert.

Get email alerts on WLT »

WLT

Walter Energy, Inc.

6/19/2013, 1:55 AM ET

Quote & Headlines Market Currents StockTalk

All
| Earnings
| Dividends
| M&A
| On the move

Tuesday, June 18, 12:45 PM Midday top 10 gainers: USMD +31%. ZN +26%. GEVO +23%. CBMX +21%. CYTK +20%. PRXI +18%. HOTR +18%. WLT +15%. BBGI +15%. ATV +14%.
Midday top 10 Losers: OSH -14%. MNKD -13%. OPXA -12%. LTON -10%. IESC -10%. KNDI -9%. FRO -8%. GENE -8%. BAA -8%. HAST -8%. Comment! [On the Move]
Tuesday, June 18, 10:41 AM Walter Energy (WLT +12%) finally turns around since dropping 12% after delaying plans to refinance existing debt, as Morgan Stanley steps in to say WLT's potential upside has finally grown too large to ignore. Other coal names (KOL +0.6%) also move higher, perhaps aided by Sterne Agee's slightly improved view for the sector:ACI +4.2%, CLF +3.2%, ANR +3%, BTU +1.3%. Comment! [Energy, On the Move]
Monday, June 17, 6:14 PM Morgan Stanley defends Walter Energy (WLT) after today's sharp loss, saying potential upside from 52-week lows is too big to ignore and that WLT can work with its banks to obtain covenant relief with sufficient liquidity (earlier). The firm thinks shares could jump 200% to $35 even if WLT announced an equity offering that increased share count by a third, which the company has not indicated it was considering. WLT +3% AH. 9 Comments [Energy, On the Move]
Monday, June 17, 9:37 AM Walter Energy (WLT +5.5%) pops higher at the open after Friday's confirmation of a refinancing postponement. Tudor Pickering thinks shares could rebound as "fear adjusts to reality," seeing the move as an opportunistic solution meant to provide breathing room, not a do-or-die. RBC suggests WLT has no immediate need for financing with $236M in cash on the balance sheet at the end of Q1. Comment! [Energy, On the Move]
Friday, June 14, 7:30 PM Worth noting: Short interest on Walter Energy (WLT) rose 13.8% to 17.05M shares through the end of May, to 27.47% of its current float and the largest number of shares sold short in the past year. Before today's move, shares were down nearly 14% and it might be reasonable to speculate that shorts increased positions somewhat over the last two weeks. Shares are still halted, with the stock down 17.4%. 29 Comments [Commodities, On the Move]
Friday, June 14, 4:17 PM Walter Energy (WLT) confirms it will not proceed with a refinancing of a portion of its existing debt. WLT says it has no material debt principal payments due until 2015, and it requires no incremental funding at this time; the proposed refinancing would not have raised additional capital. Shares have been halted since earlier this afternoon. 2 Comments [Energy]
Friday, June 14, 2:19 PM Coal stocks (KOL -2.8%) are sliding with the latest statistics from China showing steel production trends declined in late May. Another data point this week: U.S. coal shipments fell 31% M/M in April with high production costs and oversupply in Asia for met coal driving the decline. BTU -4.3%, ACI -6.4%, ANR -4.8%, CNX -2.8%, CLF -4.7%, YZC -4.8%. Trading halted in WLT, -17.3% (earlier). 9 Comments [Energy, On the Move]
Friday, June 14, 1:34 PM Walter Energy (WLT -12.8%) dives after Forbes reports the company withdrew a proposed $1.55B debt refinancing offer due to "market conditions." Other coal stocks are also off: BTU -4.5%. ACI -7.1%. CLF -3.5%. ANR -5.1%. OXF -3.1%. JRCC -3.3%. CLD -4.1%. 8 Comments [Energy, On the Move]
Thursday, June 13, 10:10 AM Prices for met coal (KOL) have fallen to a point where they will no longer cover cash costs, even for low-cost producers, and prices should rise from current levels, FBR Capital says. Of the more met-levered names, FBR rates Alpha Natural (ANR) at Outperform, but believes Market Perform-rated Walter Energy (WLT) and Teck Resources (TCK) also could benefit. 13 Comments [Energy]
Friday, June 7, 11:14 AM Raymond James cuts its 2013-14 met coal price forecast due to resilient supply growth and slowing demand; a recovery could take longer than expected given declining global GDP growth and a potential slowdown in China demand. Downgraded: Arch Coal (ACI -3.8%), James River (JRCC -12.6%)), Walter Energy (WLT -5%), Alpha Natural (ANR -3.9%), Peabody Energy (BTU -2.1%). 12 Comments [Energy, Quick Ideas]
Thursday, June 6, 9:19 AM Moody's downgrades its rating on Walter Energy (WLT) further into junk territory with a negative outlook, as the anticipated supply/demand environment for met coal is not likely to support meaningful price increases for at least the next few quarters. Despite WLT's success in reducing operating costs and improving its balance sheet, continued headwinds pressuring the met coal industry will limit improvement. 9 Comments [Energy]
Wednesday, June 5, 11:30 AM Walter Energy (WLT +1.8%) spikes higher after disclosing it has begun exploring options to refinance a portion of its existing debt. Terms of the proposed new debt facilities would replace existing term loan A and B facilities with a new term loan B facility and new senior unsecured debt as well as extend the maturity of its indebtedness. Shares had been mired in the red before the news. 3 Comments [Energy, On the Move]
Wednesday, June 5, 10:59 AM Global thermal coal prices are unlikely to recover this year unless Australian coal producers lower production or an unexpected event rattles the seaborne market and sends prices north, industry experts at the Coaltrans Asia conference say. Coal (KOL -1%) names are weak in early trading: BTU -1.2%, CLF -3.1%, ACI -1.2%, ANR -1.8%, WLT -2%, BHP -2.5%, CNX -1%, CLD -1.9%. 2 Comments [Energy, On the Move]
Thursday, May 30, 10:37 AM Peabody Energy (BTU +3.9%) pops higher on speculation of an activist investor such as Carl Icahn looking to seek seats on the company's board. The rumor may be helping to lift other coal names: JRCC +2.4%, OXF +1.9%, CLD +1.8%, WLT +1.5%, ANR +0.6%, ACI +0.5%. 1 Comment [Energy, On the Move]
Thursday, May 23, 11:20 AM Coal (KOL) has been gaining on natural gas in U.S. power generation, but coal producers aren't enjoying the benefits, buffeted by headwinds including increased regulations. Simmons analysts say most coal names do not screen as cheap, and the firm sees near-term volatility as investors trade around macro events; its sector favorites are Cloud Peak Energy (CLD) and Walter Energy (WLT). 9 Comments [Energy, Quick Ideas]
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]

1
2
3
4
5
6
...
13
Next Page