Referenced Stocks

UPDATE: Alpha Natural Resources Slides 4%, Nearer To Yr Lows; Outlines Strategic Repositioning Plan

By Midnight Trader,  September 18, 2012, 02:26:46 PM EDT

Alpha Natural Resources ( ANR ) is down 4% at $7.74, but above the day's low of $7.65, after the company today outlined plans to reshape its portfolio of operations to meet what it calls the evolving demands of a changing global coal market.

According to the company, this organizational streamlining will reduce overhead costs by $150 million, accelerate adoption of operating best practices and performance improvements, while mine idlings and production curtailments will reduce annual coal output approximately 16 million tons by early 2013.

ANR trades in a 52-week range of $5.28 - $29.29. Shares have fallen 74% in the last 12 months.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: ANR



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