U.S stocks are modestly higher this morning, as oil stays in focus to start the week, and light trading volumes are expected, thanks to the upcoming holiday. Among the equities in focus are pharmaceutical interest Pfizer Inc. (NYSE:PFE), restaurant giant Chipotle Mexican Grill, Inc. (NYSE:CMG), and energy concern Peabody Energy Corporation (NYSE:BTU).
BTU is shaking things up, after a bearish brokerage note sent the already dismal shares farther south to hit an all-time low at $11.00 on Friday. Today, Peabody Energy Corporation is up 11.1%, last seen trading at $12.54, as the company has agreed to the sale of its coal assets in Colorado and New Mexico to Bowie Resource Partners for $358 million in cash. The effect of this news on the shares could get interesting, as more than 35% of Peabody's total available float is currently sold short. With a short-interest ratio of five days to cover, BTU is moving rapidly higher this morning as some of the weaker bearish hands hit the bricks.
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