Arch Coal Inc (ACI.N) reported lower second-quarter earnings and gave a full-year outlook below Wall Street estimates, and its shares dropped more than 3 percent on Friday. The company said it sold less coal in the quarter than a year earlier but expected a stronger second half of the year, although Midwest flooding would reduce the volume of coal shipped by rail from the Powder River Basin of Wyoming. Arch also said it expects further expenses in the third quarter related to its acquisition of International Coal Group. "There are acquisition costs, but even if you back them out, it's still a miss," said analyst Jeremy Sussman, of Brean Murray Carret & Co.
Arch Coal, Inc. (Arch) is a coal producer company. Shares of ACI fell by 4.06% or $-1.045/share to $24.72. In the past year, the shares have traded as low as $21.02 and as high as $36.99. On average, 6444990 shares of ACI exchange hands on a given day and today's volume is recorded at 3178549.
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