S&P Losers: Peabody Energy and 2 Stocks Taking Heat
The S&P 500 (NYSEARCA:SPY) closed Friday down 0.49% at 1,289. Here are three notable stocks that experienced some of the largest declines.
Alpha Natural Resources (NYSE:ANR): Patriot Coal’s warning infected the entire coal market. The concern is that the production of high-end coal used for steelmaking is lagging, and may portend slower global industrial output. Alpha Natural Resources closed down 10.47%.
Peabody Energy Corporation (NYSE:BTU): According to David Alton Clark, BTU is among the top 7 stocks destined to double in 2012. For now, Peabody isn’t doing well as a result of the entire sector’s sell-off sparked by Patriot Coal. However, this is a stock that deserves close scrutiny. BTU ended Friday down 3.98%.
Genworth Financial’s (NYSE:GNW) mortgage insurance business is still experiencing losses, though the magnitude of loss has narrowed in the third quarter. The company also sold its tax and accounting unit this week in an effort to focus on its core business of wealth management. The stock fell 2.72% to close the week.
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