Sector Round-Up: Coal Companies Burn Out, Automakers Edge Higher, and Airlines Cash In On Crude's Demise

Coal companies, automakers, and airlines are making waves today

by Andrea Kramer

Published on Aug 3, 2015 at 1:46 PM

Along with oil stocks like Linn Energy LLC (NASDAQ:LINE) and Exxon Mobil Corporation (NYSE:XOM) -- which are following crude futures lower and dragging the broad-market indexes into the red -- a handful of other sectors are making headlines this afternoon: coal, automakers, and airlines. Here's a quick roundup of what's moving these sectors today. 

Coal 

Alpha Natural Resources, Inc. (OTCMKTS:ANRZ) officially filed for bankruptcy protection. According to The Register-Herald, no fewer than three coal companies with West Virginia mining operations have filed for Chapter 11. Against this ugly backdrop for coal -- exacerbated by new, historic limits on carbon emissions -- the shares of Westmoreland Coal Company (NASDAQ:WLB) are down 9.1% at $14.17, bringing their year-to-date loss to 57.3%. Likewise, CONSOL Energy Inc. (NYSE:CNX) has shed 7.1% to sit at $15.34, after touching a decade-plus low of $15.33. 

Automakers 

Automakers are higher after U.S. auto sales for July came in better than expected. Ford Motor Company (NYSE:F) is bucking the broad-market trend lower, up 0.9% at $14.96, and General Motors Company (NYSE:GM) is fractionally higher at $31.58. Fiat Chrysler Automobiles NV (NYSE:FCAU) is faring the best, up 2.2% at $16.15, helped by news that its parent company, Exor, is buying Partnerre Ltd (NYSE:PRE). German automakers, meanwhile, just went in on Nokia Corporation's (ADR) (NYSE:NOK) maps business. 

Airlines 

Airline stocks are capitalizing on crude's demise. Southwest Airlines Co (NYSE:LUV) is 3.2% higher at $37.36, and United Continental Holdings Inc (NYSE:UAL) is 3.7% higher at $58.48. Allegiant Travel Company (NASDAQ:ALGT) has also advanced 3.7% to sit at $220.56, and earlier notched a record best of $224.30.


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