Stocks finished at new lows today. It kind of makes you wonder where it all ends. WSJ.com posted this nice table with a historical look at past recessions.
Arch Coal (ACI) reported 3Q EPS that more than tripled to $0.68, beating estimates by eight cents. Higher prices and output aided results, and it continues to expect a strong financial performance in 2009 despite a weaker global economic environment. ACI did, however, mention “near-term softening” in the demand for coal and it lowered its full-year EPS guidance from a range of $2.50-2.85 to $2.30-2.55. 3Q was also hurt by trading losses, although the losses could have been worse.
Peter Lazaroff, Junior Analyst
Monday, October 27, 2008
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