Listened to entire conference call. CEO just said they are in a "very dynamic pricing environment". It's very clear that the company is being extremely consservative in forward guidance. The market heard that. This company is poised for tremedous growth in '11, and it's especially gratifying to hear about their inroads into west coast distribtion to Asia in the last week or so. This stock is headed a lot higher IMHO.
Add to that the fact that we don't get coal from Egypt and the Obama administration's continuing committment to coal over natural gas (to power those electric cars), you have to love a company that expanding its export market into Asia.
The US is the Saudi Arabia of coal and its a good time to own this company with a "homegrown" (so to speak) product.
yup. The open's drop was one of two things, or both. Idiot shorts piling on to a perceived earnings miss - it wasn't a miss - it was actually at the top end of guidance from two weeks ago. it's just that most websites had not updated that estimate from the company. Secondly hedgies "shook" out the weak hands, and started loading up around £31. The suckers always get burned.