Arch Coal cuts 2011 adjusted profit outlook; shares fall
Arch Coal cuts 2011 adjusted profit outlook; shares fall (Global Markets) - Arch Coal Inc (ACI.N) cut its full-year adjusted earnings outlook, hurt by lost production at the coal miner's Mountain Laurel complex in West Virginia.Stock Market Predictions
Arch shares were trading down 11 percent at $13.00 after the bell. They closed at $14.58 on Friday on the New York Stock Exchange.
The company lowered its 2011 adjusted earnings per share outlook to $1-$1.40 per share, from its prior estimate of $1.75-$2.15.
Analysts expected the company to earn $2.02 a share, according to Thomson Global Markets I/B/E/S.
Mountain Laurel's longwall was idled for about 45 days after a roof fall in August, due to geologic conditions.
(Reporting by Vaishnavi Bala in Bangalore; Editing by Sriraj Kalluvila)