Alpha Natural Resources posts triple Q1 profit on coal demand
Alpha Natural Resources reports first quarter profit tripling to 25.5 million or 39 cents a share as revenue climbs 20 percent to 516.9 million. Production of metallurgical coal rises 22 percent to 2.88 million tons with higher revenue per ton and prices boosted by exports to Europe and South America.
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Microsoft scrubs Yahoo bid as stocks slip and oil peaks
In New York, stocks retreated after Microsoft pulled its 47.5 billion bid for Yahoo. Oil prices surged to a record near 120 dollars a barrel, raising inflation worries and concerns over consumer spending while merger activity stalled.
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