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Fly News Breaks for June 29, 2015
NSC, CSX, BTU, CNX, FELP, CLD
Jun 29, 2015 | 13:47 EDT
Morgan Stanley said the Supreme Court ruling that the EPA is unlawful with power plant pollution rules could mark a tactical shift in sentiment and momentum in thermal coal stocks. The firm said the ruling most directly positively impacts Cloud Peak (CLD), Foresight Energy (FELP), CONSOL (CNX), and Peabody (BTU) and would be a positive for CSX (CSX) and Norfolk Southern (NSC) which have been impacted by declines in coal volume.
News For CLD;FELP;CNX;BTU;CSX;NSC From the Last 2 Days
CSX
Mar 27, 2024 | 08:04 EDT
JPMorgan analyst Brian Ossenbeck anticipates intermodal shipments will divert away from the Port of Baltimore following the Francis Scott Key bridge collapse to other Eastern ports. The impact for rail auto volumes appears minimal given the activity at the port is primarily contained to local markets served by truck, the analyst tells investors in a research note. The firm thinks the biggest negative impact will be on export coal volume for CSX which is shipped from the Curtis Bay terminal in the area while Norfolk could pick up some volume if it is diverted to Hampton Road. The ultimate impact will depend on how quickly the port resumes operations and at this point the U.S. government has already made a statement supporting the reconstruction, JPMorgan says.
BTU
Mar 26, 2024 | 16:25 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
BTU
Mar 26, 2024 | 12:52 EDT
Shares of companies with exposure to coal are moving lower following the collapse of the Francis Scott Key Bridge in Baltimore. The bridge provides the entryway to the Helen Delich Bentley Port of Baltimore, the largest port in the U.S. for specialized cargo, and is also a gateway for bulk cargo like coal and petroleum products. Baltimore was the top loading location for U.S. thermal coal exports in 2023, according to the U.S. Census Bureau. Consol Energy (CEIX) says on its website that its Baltimore Marine terminal is one of two coal export terminals on the Eastern Seaboard with the ability to serve the largest ocean-going ships in the world, and the only one served by two rail lines. Shares of Consol Energy are down 8% to $79.86 in afternoon trading while Arch Resources (ARCH) is down 3% and Peabody Energy (BTU) is down 1%.
NSC
Mar 26, 2024 | 08:59 EDT
Ohio-based Ancora Holdings Group announced that it is filing a definitive proxy statement with the U.S. Securities and Exchange Commission in connection with its nomination of seven highly qualified director candidates for election to the Company's Board of Directors at the 2024 Annual Meeting of Shareholders scheduled for May 9. Additionally, Ancora sent a letter to shareholders regarding its leadership team's three-year path to superior performance and significant value creation at Norfolk Southern.