The challenge for coal companies is twofold. Prices for metallurgical coal -- the type used in steel-making -- have plunged to 11-year lows as China’s economy drags, battering miners’ profits. At the same time, demand for thermal coal for power plants is steadily sliding amid an abundance of shale gas and concerns about climate change.
Earlier this year, natural gas usurped coal as the biggest producer of U.S. electricity for the first time, the U.S. Energy Information Administration reported Tuesday. In April, natural gas produced 31.5 percent of the country’s electricity, while coal accounted for 30.2 percent.
All this comes as coal miners are grappling with debt loads in the billions of dollars -- the result of expansions and acquisitions made in recent years when the coal sector’s outlook seemed brighter.
Alpha Natural Resources had about $3.1 billion in long-term debt as of March 31. The Bristol, Virginia, company is now seeking a loan of up to $400 million to help it through bankruptcy should it file for chapter 11 protection in early August, the Wall Street Journal reported Thursday.
that's a lie. the stock is held up by the dividends. If that news is true and that guy isn't making it up, the stock will plummet to $3-4
No one saw this coming. No one saw the huge increase in solar power to run electricity or shift to natural gas. And, it will continue that way as solar is getting cheaper by the month and natural gas is just so much cleaner.
All the coals just borrowed to many billions. Peabody is saddled with almost $7 billion. Like Greece, they can never pay it back. They won't go bankrupt this year but 2016 is very likely.
confluence of events
by biodrift • Jul 15, 2015 12:11 PM Flag
After watching trading today, I am fairly certain that something is going to happen in the next two days. Why?
First, there is no selling volume today in July 10, 11, & 12 calls (10's are being bought). I sold 2/3 of my July 5 & 7.50 calls this morning into the rally & added to my flier position in the 11's. Second, we got the little mini raid similar to what happened last time before the data. The difference being there were far fewer shares available for borrow this morning (IB only listed 200k available). Third, I middled some big orders this am on the July 12's which would have allowed someone to roll or close w/o taking the full hit from the big buy a few days ago. There were no takers. Optimism abounds...we will see.
ANR has $906 Million in cash according to YAHOO statistics,$4.02 BILLION in revenue and $3.22 Billion in debt
BTU has $646 million in cash, $6.6 BILLION in revenue and $6.4 billion in debt.
Look what happened to ANR and BTU. Listen to the idiots who say they have all this cash. But it is BORROWED and CRK is paying some 10% on it.
Look at ANR that is delisted and prepared for bankruptcy, it shows some $906 million cash. As of yesterday the NYSE delisted the coal company.
Look at BTU that has dropped from $5 from 4 months ago to $1.28 today. IT shows $656 million in cash.
dude, why do you think this is up after news of J&J selling all their shares...
AQX-1125 is being developed for other indications as well. A phase II study in atopic dermatitis is currently ongoing with results expected in the fourth quarter, earlier than previously forecasted (end of the first quarter of 2016). Meanwhile, as far as evaluating the candidate for chronic obstructive pulmonary disease (COPD) exacerbations is concerned, the company has decided not to go ahead with the development of the candidate for this indication given disappointing top-line data from a phase II study (FLAGSHIP).
The Target Market
Aquinox Pharmaceuticals Inc. Watchlist
NASDAQ3:59 PM EDT
Johnson & Johnson Cashes Out Of Aquinox Pharmaceuticals' Parabolic Rally Benzinga 2 hrs 43 mins ago
Trapped Buyers Attempt To Flee Aquinox Pharmaceuticals Benzinga 1 day 0 hrs ago
BPS/IC, a chronic inflammatory bladder disease, is estimated to affect about 5 - 12 million people in the U.S. Most BPS/IC patients continue to suffer from this debilitating condition despite treatment with existing therapies. Most current therapies as well as those being developed are focused mainly on symptomatic relief of BPS/IC. Aquinox reported that no new oral treatments for BPS/IC have been approved by the FDA in the last 20 years.
Note that they need more money to conduct the enrollment of trials.
The primary endpoint of this study will be overall survival, and an interim analysis is anticipated. This randomized trial of approximately 225 patients will be conducted at about 100 sites globally. The enrollment for this trial is expected to begin later in the year, though the ability to conduct the trial as planned will require additional financing.
They don't have revenues and they need more cash for additional trials. So, more dilution soon.