The Globe and Mail reported that Consol Energy Inc.’s (NYSE:CNX) shares rose on the company’s increased profits due to higher steel-making coal prices.
As quoted in the market news:
Earlier, Consol reported third-quarter profit of $167-million (U.S.), or 73 cents a share, compared with $75-million, or 33 cents, a year earlier. Analysts on average were expecting earnings of 68 cents a share, according to Thomson Reuters I/B/E/S. Revenue rose to $1.4-billion – Consol’s highest ever for a third quarter, the Pittsburgh-based company said.