Why Coal Stock Peabody Energy Sizzled Today
Coal stock Peabody Energy (NYSE: BTU) shot up Monday morning, having jumped as much as 20.6% as of 11:10 a.m. EDT after the market took a liking to the coal producer's preliminary numbers. A deeper dive into the numbers, though, reflects muted year-over-year growth, which means there was more to Peabody Energy stock's rally this morning.
The biggest number from Peabody Energy's preliminary results that caught the market's attention is its coal sales, which crossed $900 million during the quarter to levels last seen nearly seven quarters ago.
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Source Fool.com
