Volume Spike Investor

COAL STOCKS are gapping up higher this morning at the open, and it isn’t just over higher oil prices rising almost $4.00 to back over $118 per barrel.  UBS has raised its sector ratings to a BUY from the NEUTRAL sector rating.  Shares raised to BUY were Arch Coal (NYSE: ACI) +3.5%, Foundation Coal (NYSE: FCL) +4%, Massey Energy (NYSE: MEE) +3.8%.  These were the three large coal companies we saw in the research summary.

Elsewhere, Peabody Energy Corp. (NYSE: BTU) is also up 4% right after the open.

Jon C. Ogg
August 21, 2008

9:38 AM EST