Coal Segment Active on Updated Q3 Outlook from Peabody Energy (BTU) (ANR) (ACI) (CLF)

Coal names are on watch early Tuesday following a positive update to guidance from Peabody Energy (NYSE: BTU).

Ahead of the bell, Peabody announced that the company now expects third quarter 2014 Adjusted EBITDA of $190 to $210 million, which is above the company's prior targeted range. Peabody also updated third quarter 2014 Adjusted Diluted EPS targets to $(0.69) to $(0.63), primarily reflecting the effects of non-cash tax expense following the repeal of the Minerals Resource Rent Tax in Australia.

The Street consensus is looking for Q3 loss of $0.40 per share.

Active in early trading include Arch Coal (NYSE: ACI), Alpha Natural Resources (NYSE: ANR), Walter Energy (NYSE: WLT), and Cliffs Natural (NYSE: CLF), among others.

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