Coal companies, automakers, and airlines are making waves today
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.