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.
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