Energy
Alpha Natural Soars After Earnings, Buffett
Much of the coal-sector moves today have come alongside developments of Warren Buffet's newest long-term bet. Announced this morning, Berkshire Hathaway(BRK.A) is buying railroader Burlington Northern(BNI) for $44 billion. With Buffett calling it "an all-in wager on the economic future of the United States," the move sent railroad stocks soaring. Union Pacific(UNP) and CSX(CSX) were adding over 7% each in the afternoon.
As a bulk good moved by railroaders, the halo effect appeared to extend to coal producers this afternoon, with many reports speculating that Buffett's bet is as much on coal's future. Along with Alpha, shares of Arch Coal(ACI) and Peabody Energy(BTU) were gaining 2.1% and 3.2%, respectively. -- Written by Sung Moss in New York Follow TheStreet.com on Twitter and become a fan on Facebook.TheStreet Premium Services
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