Among losers, International Coal Group plunged 17.2% from its 52-week highs of $8.46 recorded on Dec. 10 to $7 on Friday. On Tuesday, the stock closed 13.1% lower, following a late-Monday announcement that the company plans to sell around 35 million shares. An upgrade of the stock to buy from hold at Brean Murray did not lead to any gains in the stock on Wednesday. The stock didn't respond either to the news that Massey Energy (MEE) is considering a takeover of International Coal.
Meanwhile, Great Northern Iron Ore Properties and Cloud Peak Energy (CLD) plunged on profit-booking after the stocks reached respective 52-week highs last week. On Thursday, Rio Tinto (RIO) announced the sale of its remaining stake in Cloud Peak Energy, estimated to raise around $500 million.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV