Arch Coal, CONSOL Energy And The Market Vectors Coal EFT Move Higher After Q3 Reports

Coal stocks moved higher Tuesday after earnings announcements.

Arch Coal Inc ACI shares spiked upwards nearly 8 percent on higher-than-expected Q3 revenue.

The company reported a net loss of $97 million, or $0.46 per diluted share, in the third quarter of 2014 compared with a net loss of $128 million, or $0.61 per diluted share, in the prior-year quarter.

Revenues totaled $742 million, above the average estimate of $719.33 million for the three months ended September 30 and adjusted EBITDA from continuing operations was $72 million, representing a slight increase compared with the same quarter of last year.

CONSOL Energy Inc. CNX missed Q3 earnings expectations, but surged higher after a report announcing the sale of 100 millions tons of coal reserves to Murray Energy Corp.

The Market Vectors Coal EFT KOL surged higher amid the gains in Arch and CONSOL. The EFT was up nearly 1.5 percent by mid-day Tuesday.

Arch Coal Inc recently traded at $1.90, up 6.1 percent.

CONSOL Energy Inc. recently traded at $35.49, up 3.7 percent.