Coal Stocks Roiled After Walter Pulls Out of Loan Refi (WLT) (ACI) (ANR) (BTU) (JRCC)
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Coal stocks came under pressure on Friday after news broke that Walter Energy (NYSE: WLT) pulled out of a large loan refinancing due to market conditions.
Walter Energy stock plunged as a result, dragging down other coal stocks. Arch Coal Inc. (NYSE: ACI) was the second worst performer, with related stocks Alpha Natural Resources, Inc. (NYSE: ANR) and Peabody Energy Corp. (NYSE: BTU) and James River Coal Co. (NYSE: JRCC) all trading lower.
Walter Energy stock plunged as a result, dragging down other coal stocks. Arch Coal Inc. (NYSE: ACI) was the second worst performer, with related stocks Alpha Natural Resources, Inc. (NYSE: ANR) and Peabody Energy Corp. (NYSE: BTU) and James River Coal Co. (NYSE: JRCC) all trading lower.
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