Commodity Related Stocks Rip Higher on Expanding Manufacturing In China (XME, KOL)
More News related to AA
- Alcoa 2009 Worldwide Month of Service: Alcoa Employees Rally in Record Numbers for Their Communities
- Alcoa's Kawneer Business Launches Make an Impact Environmental Program to Reduce Carbon Footprint; Invites Customers and Community to Participate
- Alcoa Inc's (AA) Portovesme Plant Continuing at Normal Rates - Reuters
- Alcoa Executive Hails Aluminum's Ability for Lightweight Automotive Design That Increases Fuel Efficiency and Reduces Emissions
- Alcoa (AA) volatility of 46 near 16-month lows
More News related to ACI
- Arch Coal's Black Thunder Mine Surpasses 4 Million Employee-Hours With Perfect Lost-Time Safety Record
- Arch Coal President and COO to Speak at FBR 2009 Fall Investor Conference on December 2, Live Webcast Available
- Goldman Sachs Makes Changes In the Coal Sector (KOL, BTU)
- HSBC Starts BTU, ACI at Outperform, MEE, CNX at Neutral
- Natural Resource Partners' Sponsor Leases Large Tract of Coal Reserves
More News related to ANR
- Alpha Natural Resources (ANR) Affiliate Resumes Production on Emerald Longwell Mine
- Emerald Mine Resumes Production
- Notable Analyst Rating Changes 12/01: FITB, BPFH, MENT, CLWR, LTD, SPWRA Upgraded; NFLX, NUVA Downgraded
- Bank of America Initiates Coverage on Alpha Natural Resources (ANR) with a Buy
- Notable Analyst Rating Changes 11/24: ABG, PRU, RS, AYI, AMLN, TLAB Upgraded; DELL, CIEN, UNP, ALV Downgraded
More News related to Insiders' Blog
- Interesting Call Buying In Research In Motion (RIMM)
- Broadpoint.AmTech Reiterates a 'Buy' on Marvell Technology (MRVL); Raises Estimates & PT
- Unemployment Data Brings Hope: Art Hogan Weighs In
- Brean Murray Maintains a 'Buy' on athenahealth (ATHN); Lofty Valuation Surpassed Only by Lofty Goals
- Benchmark Raises American Tower's (AMT) Price Target to $50 on Strong Tower Demand
Commodity related stocks, including metals and coal, are ripping higher today after manufacturing in China expanded for the first time in nine months.
Metal stocks rallied on hopes that the news signals demand could be coming back and slumping prices will rebound. The SPDR S&P Metals & Mining (NYSE: XME) is up 7.7% today, reflecting the broad-based move in the sector. Individual stocks that are rallying today include Alcoa (NYSE: AA) +5.5%, United States Steel Corp. (NYSE: X) +8%, Century Aluminum (Nasdaq: CENX) +29%, Reliance Steel & Aluminum Co. (NYSE: RS) +6% and Freeport-McMoRan Copper (NYSE: FCX) +7%.
The coal sector is benefiting not only from the China news, but Goldman Sachs lifted its sector rating on America Coal stocks to Attractive. The firm upgraded Massey Energy (NYSE: MEE) to Buy and added the stock to its Buy List and raised a number of price target on individual stocks in the sector. Goldman raised its price target on Massey Energy Co. (NYSE: MEE) to $26, Arch Coal Inc. (NYSE: ACI) to $21, CONSOL Energy Inc. (NYSE: CNX) to $36, Peabody Energy Corp. (NYSE: BTU) to $31, Foundation Coal Holdings Inc. (NYSE: FCL) to $26, Alpha Natural Resources, Inc. (NYSE: ANR) to $26, and Patriot Coal Corporation (NYSE: PCX) to $7. The 11% move higher in the sector ETF Market Vectors Coal ETF (NYSE: KOL) represents the broad-based sector move.
Related Categories
Insiders' BlogTrader Talk
Stocks Mentioned
-0.28
+0.00Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
