Big coal fires up profits; Arch 2Q earnings triple

Arch Coal Inc. said Friday its second-quarter profit tripled on soaring global prices and the company boosted its outlook after beating Wall Street expectations easily. By JIM SUHR AP Business Writer ST. LOUIS — Arch Coal Inc. said Friday its second-quarter profit tripled on soaring global prices and the company boosted its outlook after beating Wall Street expectations easily. The performance, on the heels of similar big numbers Wednesday from coal-mining counterpart Peabody Energy Corp., sent Arch's shares climbing more than 9 percent, or $4.70, to close at $55.64 Friday. St. Louis-based Arch - one of the nation's biggest coal producers - reported net income of $113 million, or 78 cents per share in the latest April-through-June period. That compared with $37.6 million, or 26 cents per share, during the same period last... [read full story]