SECTOR GAP-UP: COAL STOCKS (ACI, FCL, MEE, BTU)

Posted in General 
August 21st, 2008

COAL STOCKS are gapping up higher this morning at the open, and it isn’t just over higher oil prices rising almost $4.00 to back over $118 per barrel.  UBS has raised its sector ratings to a BUY from the NEUTRAL sector rating.  Shares raised to BUY were Arch Coal (NYSE: ACI) +3.5%, Foundation Coal (NYSE: FCL) +4%, Massey Energy (NYSE: MEE) +3.8%.  These were the three large coal companies we saw in the research summary.

Elsewhere, Peabody Energy Corp. (NYSE: BTU) is also up 4% right after the open.

Jon C. Ogg
August 21, 2008

9:38 AM EST

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