Peabody Loss Narrower Than Expected as U.S. Coal Recovers
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Peabody Energy Corp., the largest U.S. coal company by sales, jumped the most in six months after reporting a narrower loss than analysts expected by reducing costs in its Australia segment as U.S. demand climbs.
Peabody rose 7.6 percent to $20.46 at the close in New York, the biggest increase since Oct. 22. Arch Coal Inc., the second-largest coal producer by shipments, jumped 8.4 percent as investors expected the company to benefit from the same trends that helped Peabody since both mine coal in Wyoming’s Powder River Basin, said Brandon Blossman, an analyst at Tudor Pickering Holt & Co. in Houston.