its all about forward looking positive trends. ANR narrowed its loss from $792mm 4/2011 tp $127mm 4th 2012. Factoring non-cash impairment w/o ANR's eps loss of (.19) cents/sh was way better than analysts projected (.52) cent loss per share. ACI missed its 4th qtr earnings projects badly and did gave pretty tepid guideance for 2013. ANR's management seems to be perceived much better in managing costs during this prolonged down cycle of the coal sector. All that being said I would not be surprised if ANR gives back all of their gains today after the shorts lick their wounds and reposition themselves to take this stock down to where it was before this rally be next week (just like ti did with WALT enterprises a month or so ago).