Did better than analyst expected (revenue). Shares closed 10 cents above a multi year low. Going lower. Six trading days till NRP goes ex. Shares won't go much higher till ex date.
The coal business is one sick puppy right now. Some analyst looking to 2015 for improvement. some looking out much later.
Dow up 70. Most coal stocks up slightly probably because of BTU's beat (still very bad results). Natural gas continues down. NRP up slightly even with the distribution announcement. Will hold around $16 till ex.
BTU will report second quarter results before the market opens tomorrow. BTU is the largest US coal mining company. Analyst expect a loss of 29 cents with revenue of $1.64 billion. Zacks believes that BTU results will be even worse than the street estimate. If Zacks is correct, coal stocks will collapse again tomorrow. ACI broke below $3 today. Most other coal stocks continued to tank. ALL are going much lower. Natural gas continues to plunge. NRP holding better than others till ex date. NO GOOD NEWS IN SIGHT FOR THE COAL BUSINESS!!
Dow down 60. Most coal stocks down. Another record low for ACI. NRP up slightly on low volume. Nine trading days till ex. Natural gas continues to tank. Down more that 20% over the past few days. Bad for thermal coal producers. Cool weather.
Cramer has been negative on coal since Dec. 2011. Coal has crashed since Dec. 2011. Cramer remains negative on coal. Would not buy coal till Kramer recommends it to his multi million following.
Dow up 95. Good move up fro some coal stocks (WLT). Another record low for ACI. NRP trading unchanged with low volume and narrow trading range. No crash in sight till after ex date. Natural gas down a penny.
With all of the terrible news today, crude oil spiked. Natural gas and coal crashed.. Big inventory build in natural gas reported this morning. Now trading below $4 and headed to $3.50. Plane crash and invasion had NO effect on NRP shares. They traded at .$16.19 early this morning before all of the overseas news. Closed at $16.19. Ten trading days till ex and then the real slide will begin. ACI hit another record low today. BTU and ACI headed there. COAL NEWS CONTINUES TO GET WORSE.
Dow down 6. Coal stocks mixed. Most holding yesterday's gains. NRP in the red on above average volume. Natural gas continues to slide. Will soon break below $4. Natural gas inventories will be announced on CNBC at 10:30.
Someone called a bottom for ACI today. Caused euphoria for all coal stocks. ACI trades within pennies of a record low. If coal fundamentals do not improve, ACI will bankrupt. This time is not different.
In eleven trading days NRP will trade ex. For the past three years, NRP has dropped 2 to 6 dollars after ex. If coal fundamentals do not improve,NRP will trade below $10 before year end. They will also cut the distribution again. This time is not different..
Headlines on BTU board at the close. Most coal stocks up 4 to 6%. NRP lost most of early gains. Closed up less than half a percent (7 pennies). NRP will tread water till ex date and then drop like a rock (as it ALWAYS does).
Michael Moore, CEO of CSX just interviewed on CNBC about their 2nd quarter results. Domestic coal shipments up 8%. Coal exports dropped from 44 to 35 million tons 2013 vs 2014. Big surprise to me. Big disappointment.
Folks out west think that fracking is causing earthquakes. Also folks in my state think that liquids used in fracking are poisoning water. Makes about as much sense as global warming!!
BB&T is no longer listed as a holder of NRP shares. A few months ago they owned almost 3 million shares (BB&T + Scott & Stringfellow which is owned by BB&T). Bank America has also sold their 1.6 million shares.
This time from Wyatt Resources. They like NRP. Same as Zacks, The Street and Motley Fools. Wyatt didn't help NRP shares today. Traded near the low most of the day. Going much lower.