I suggest calling WLT investor relations and have them issue another PR NOW!
They need to say they are revisiting the debt refinance ASAP...Of course it does not helpat all that the other coal names are all down big today..
Wednesday, July 24, 9:59 AM ET
Walter Energy (WLT -10.6%) shares plummet after last night's 92% dividend cut and subsequent analyst price target changes. CLSA thinks WLT could face "serious liquidity issues," and cuts its PT to a Street-low $6 with a Sell rating. BAML cuts its target to $9, believing the dividend cut was done in lieu of a credit deal.
Not sure they will do anything now... They preannounced some of the earnings. The shorts have control over this... waiting to see what Picker reports on the short position.
If WLT blows away with a profit for less of a loss, then we may see the PPS rocket with short covering. Or if they announce refi... it is so close to earnings...they are prob focused on that right now. They had to pay 17 mil to get the covenants relaxed.