Wall Street likes Arch-Peabody plans

摘要

One outcome of the Peabody Energy-Arch Coal joint venture announcement is a positive (so far) response from Wall Street. When the two companies announced the JV plans on Tuesday last week, Arch’s common stock opened at $89.69/share. On Wednesday, after the announcement had a full trading day to sink in, Wall Street priced the stock at $95.85 per share at the opening bell, a 4.4% increase from the day before. Traded volume also increased more than threefold from Tuesday to Wednesday last week, from 175,423 shares to 593,564 shares.