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Merger Beckons Massey and Alpha - Analyst Blog
Monday, January 31, 2011 - 5:01pm | 676Appalachian coal miner Massey Energy Company (MEE) has agreed to merge its resources with Alpha Natural Resources Inc. (ANR) to make good its losses since the deadly coal mining accident that occurred in April 2010. Massey Energy's quarterly results have been on the negative side following the...
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Jefferies Discusses Alpha Natural, Massey Merger (MEE, ANR)
Monday, January 31, 2011 - 2:33pm | 107Jefferies & Co. is out with a note discussing the Alpha Natural Resources (NYSE: ANR)-Massey Energy (NYSE: MEE) merger. In a note to clients, Jefferies writes, "On Saturday afternoon (29 Jan), Alpha Natural Resources and Massey Energy confirmed a negotiated transaction that values Massey Energy...
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Denison Mines Seeing Strong Interest (DNN)
Monday, January 31, 2011 - 1:44pm | 67Shares of Denison Mines Corp. (AMEX: DNN) are moving strongly higher today, as shares rebound from last week's hit. At last check, shares of Denison were up 19 cents to $3.59, a gain of 5.6%. This comes on the back of heavy average daily volume. The stock has already traded 2.1 million shares,...
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Top Narrow Based Indexes For January 31 (DEPO, URZ, MEE)
Monday, January 31, 2011 - 12:21pm | 211By 11:00 am, the Dow Jones Industrial Average was up 23.92 points, or 0.20%, to 11,847.62, while the broader Standard & Poor's 500 index had gained 4.94 points, or 0.39%. The NASDAQ composite index fell 0.59 point, or 0.02%. Some of the narrow based indexes that are supporting the markets are...
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Puts Purchased on Uranium Resources (URRE)
Monday, January 31, 2011 - 12:13pm | 132Shares of Uranium Resources (NASDAQ: URRE) are higher on the session by 6.69%, currently trading at $2.71. The stock has been moving largely lower over the past three months and is currently consolidating between the 50-day and 200-day moving averages. Options traders are buying puts on the name...
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Bernstein Liebhard LLP Announces Investigation of Acquisition of Massey Energy Company by Alpha Natural Resources, Inc.
Monday, January 31, 2011 - 11:51am | 97Bernstein Liebhard LLP is investigating whether the Board of Directors of Massey Energy Company (“Massey” or the “Company”) (NYSE: MEE) breached its fiduciary duty to its shareholders in agreeing to sell Massey to Alpha Natural Resources, Inc. Under the terms of the agreement, Massey shareholders...
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Jefferies Maintains Buy on Massey Energy (MEE)
Monday, January 31, 2011 - 10:15am | 140Jefferies is out with its report today on Massey Energy (NYSE: MEE), maintaining Buy and a $70 price target after MEE agreed to be acquired by Alpha Natural Resources (NYSE: ANR). In its note to clients, Jefferies writes, "On Saturday afternoon, Alpha Natural Resources and Massey Energy confirmed a...
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Company News for January 31, 2011 - Corporate Summary
Monday, January 31, 2011 - 10:13am | 707• Arch Coal (NYSE:ACI) reported Q4 EPS of $0.33, ex-items, below the Zacks Consensus Estimate of $0.46 per share. Revenues for the quarter rose 15% to $835.4 million, lower than the Zacks Consensus Estimate of $869.0 million • T. Rowe Price (NASDAQ:TROW) reported Q4 EPS of $0.72, above the Zacks...
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Jefferies Maintains Buy on Alpha Natural Resources (ANR)
Monday, January 31, 2011 - 10:09am | 130Jefferies is out with its report today on Alpha Natural Resources (NYSE: ANR), maintaining Buy after Alpha Natural agreed to acquire Massey Energy (NYSE: MEE). In its note to clients, Jefferies writes, "We believe Alpha Natural Resources' purchase of Massey Energy appears fairly valued and provides...
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Company News for January 31, 2011 - Corporate Summary
Monday, January 31, 2011 - 10:09am | 707• Arch Coal (NYSE:ACI) reported Q4 EPS of $0.33, ex-items, below the Zacks Consensus Estimate of $0.46 per share. Revenues for the quarter rose 15% to $835.4 million, lower than the Zacks Consensus Estimate of $869.0 million • T. Rowe Price (NASDAQ:TROW) reported Q4 EPS of $0.72, above the Zacks...
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J.P. Morgan Discusses Massey energy Deal (MEE, ANR)
Monday, January 31, 2011 - 10:06am | 232J.P. Morgan Chase & Co. is out with a research report on the Massey Energy (NYSE: MEE)-Alpha Natural Resources (NYSE: ANR). In a note to clients, J.P. Morgan writes, "Massey has agreed to a $69 per share mainly stock deal with Alpha Natural Resources (ANR). Press commentary suggests that Arch...
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Alpha Natural Resources, Inc. Buys Massey Energy Company For $8.5 Billion
Saturday, January 29, 2011 - 5:48pm | 305Alpha Natural Resources, Inc. (NYSE: ANR) buys Massey Energy Company (NYSE: MEE). Under the terms of the agreement, Massey stockholders will receive, at the closing, 1.025 shares of Alpha common stock and $10.00 in cash for each share of Massey common stock. Based on the closing share price of...
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Alpha Natural Resources (ANR) Near Bid of $7B for Massey Energy (MEE) - It Sure Looks Like "Smart Money" Knew
Saturday, January 29, 2011 - 10:26am | 799Massey Energy (MEE) has been rumored to be on the block for a few months, and today we have news that Alpha Natural Resources (ANR) seems close to finalizing of a bid of $7B or $68-$69 per share. It appears based on the price action Friday, and volume explosion in the closing 15 minutes of the day...
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Before It Happens: Next Week's Top ETF Earnings Plays
Friday, January 28, 2011 - 5:14pm | 340This is a new feature from the ETF Professor. Every Friday shortly after the close, we'll take a look at some ETFs that are setting to be in play in the next week. As next week is heavy on earnings reports from some marquee names across a broad swath of sectors, today's column is an emphasis on...
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Yanzhou Coal Mining Wins Rights For Mongolian Coal Mine (YZC)
Friday, January 28, 2011 - 3:10pm | 77Yanzhou Coal Mining Co. (NYSE: YZC) has won the rights to the Zhuan Longwan coal mine based in Mongolia. Here is the 6-K filing from the SEC. At last check, shares of YZC were down 61 cents to $28.92, a loss of over 2%. Yanzhou Coal Mining Company Limited engages in the underground mining,...