Alliance Res Partners 株価情報 (NASDAQ: ARLP)

最新ニュース Alliance Res Partners (NASDAQ:ARLP) 株価情報

Alliance Res Partners

Alliance Resource Partners LP operates as a coal mining company based in the United States. It has four segments Illinois Basin, Appalachia, Oil & Gas Royalties and Coal Royalties. The Illinois Basin comprises underground mining complexes in Illinois, Indiana, Kentucky, Maryland and West Virginia. The Appalachia segment comprises the Mettiki mining complex, the Tunnel Ridge mining complex and the MC Mining complex. The Oil & Gas Royalties has oil & gas mineral interests held by AR Midland and AllDale I & II and includes Alliance Minerals' equity interests in both AllDale III and Cavalier Minerals. The Coal Royalties has included coal mineral reserves and resources owned or leased by Alliance Resource Properties.

Alliance Resource Partners, L.P. - Common Units Representing Limited Partnership Interests

Alliance Resource Partners LP

Last month, two European quants, one working for Robeco and the other for Allianz, published a paper asking (and answering) whether formulaic investing is possible. Marcel Schwartz of Allianz and Matthias X. Hanauer of Robeco are also associated with the Technical University of Munich.
The pair studied four formulas, including a conservative low-volatility strategy, The Acquirers Multiple, The Piotroski F-Score, and Joel Greenblatt&#8217;s Magic Formula.
Interestingly, people associated with developing these formulas, such as Tobias Carlisle of Acquirers Funds and Wes Gray and Jack Vogel of Alpha Architect, also consulted on the paper.
To make a long story short, all four formulas delivered excess returns.
I am a huge fan of formula investing and have used the Acquirers Multiple and the F-Score strategies successfully over the years.
To me, they are both extensions of Ben Graham&#8217;s original value-investing and margin-of-safety theories.
I am quite familiar with the Magic Formula, although I have not used it as much as I probably should have.
If the Acquirers Multiple and F-Score models are descendants of Ben Graham, the Magic Formula is the reincarnation of a young Charlie Munger. Greenblatt&#8217;s formula helps identify companies that are earning high returns on the capital used to build and run the business and trading at bargain prices.
I decided to run a survey to find stocks that fit the Magic Formula definition in today&#8217;s overheated market.
I also added some features that increase my comfort level with owning these bargain issues.
The broader market may face tough sledding going forward as large-cap stocks are priced for perfection in an imperfect world.
Because of that, I want to collect a dividend.
Dividends, once paid, cannot be taken away.
Finally, I am always aware that it is unlikely that one will beat the market by doing what everyone else does.
I want my stocks to be under-owned by institutions.
If the company keeps earning high returns on capital, the big money funds will eventually pile into the stock, and their buying pressure will send the prices soaring.
United-Guardian (Ticker: UG) makes the list of undervalued high-return companies.
Although the name sounds like an insurance company, United-Guardian makes personal and medical lubricants and pharmaceuticals.
The company is earning very high returns on the capital employed in the business, with an earnings yield of over 10%.
The cash dividend yield is 5.6% at the current price.
Although it is not part of the formula, United-Guardian also has a bulletproof balance sheet with plenty of cash and no long-term debt.
The President of United-Guardian owns almost 30% of the company, which has discouraged institutions from buying the stock. Funds currently own just 22% of the company.
We often find high-return companies trading at bargain prices because they are in a business everyone hates.
This is doubly true for Alliance Resource Partners LP (Ticker: ARLP).
This natural resource company mines coal and sells it to utilities and industrial users in the United States.
I would be hard-pressed to think of a business more hated than coal in today&#8217;s world.
Moreover, Alliance Resource Partners is just that: a partnership.
It is a Master Limited Partnership, which means you get a K-1 instead of a 1099 each year for tax purposes.
K-1s are a pain in the backside region.
It is probably worth putting up with the hassle. Alliance Resources earns high returns on capital and generates a ton of cash, most of which ends up in shareholders&#8217; pockets.
The earnings yield is 13%, and the cash dividend yield is 10.25%.
While coal is the dominant business, Alliance also has a growing royalties business. It owns 68,578 net royalty acres in premier oil and gas producing regions that produce over 3 million barrels equivalent of crude and natural gas.
Plenty of skin is in the game as insiders own about 17% of this company.
Most institutional managers would cut off a limb before getting caught with a coal company on their sheets, so ownership by the big funds is just 17%.
On the renewable fuel side of the equation, we find Future Fuel (Ticker: FF), a company that makes fuels from a mix of diesel, vegetable oils, and grease feedstock.
They also have a chemical division that makes products used in everything from farming to dish detergent.
The dividend yield is over 4%, and the earnings yield is over 15%.
Institutions own very little stock apart from index funds.
Insiders, on the other hand, own 41% of Future Fuel.
You may notice that I did not do a &#8220;deep dive&#8221; on any of these companies.
That is the whole idea of formulaic investing.
In the last interview he gave, Ben Graham suggested that most investors would be better served by a value-based formula approach to investing.
He told the Financial Analysts Journal, &#8220;In the old days, any well-trained security analyst could do a good professional job of selecting undervalued issues through detailed studies; but in the light of the enormous amount of research now being carried on, I doubt whether in most cases such extensive efforts will generate sufficiently superior selections to justify their cost.&#8221;
He suggested instead that a formula approach, rigidly followed, would likely deliver market-beating results with a minimum of effort. Who are we to argue with Ben?

Opinion

ARLP

Under the Radar: Maximize Returns with Time-Tested Investment Formulas

Benchmark analyst Nathan Martin maintains Alliance Res Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) with a Buy and raises the price target from $26 to $27.

News

Price Target

Analyst Ratings

Benchmark Maintains Buy on Alliance Res Partners, Raises Price Target to $27

WIIM

Alliance Resource Partners shares are trading lower after the company reported worse-than-expected Q3 financial results.

ARLP is maintaining the following&nbsp;guidance&nbsp;for the full year ended December 31, 2024 (the &quot;2024 Full Year&quot;) and updating our committed and priced sales tons:
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2024 Full Year&nbsp;Guidance
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Coal Operations
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Volumes (Million Short Tons)
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Illinois Basin Sales Tons
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24.25 &mdash; 25.0
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Appalachia Sales Tons
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9.25 &mdash; 9.50
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Total Sales Tons
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33.50 &mdash; 34.50
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Committed &amp; Priced Sales Tons
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2024 &mdash; Domestic / Export / Total
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28.2 / 5.2 / 33.4
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2025 &mdash; Domestic / Export / Total
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21.0 / 1.5 / 22.5
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Coal Sales Price Per Ton Sold (1)
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Illinois Basin
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$56.25&nbsp;&mdash;&nbsp;$57.00
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Appalachia
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$83.00&nbsp;&mdash;&nbsp;$84.00
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Total
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$63.75&nbsp;&mdash;&nbsp;$64.50
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Segment Adjusted EBITDA Expense Per Ton Sold (2)
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Illinois Basin
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$36.00&nbsp;&mdash;&nbsp;$38.00
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Appalachia
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$57.00&nbsp;&mdash;&nbsp;$60.00
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Total
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$43.00&nbsp;&mdash;&nbsp;$45.00
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Royalties
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Oil &amp; Gas Royalties
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Oil (000 Barrels)
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1,500 &mdash; 1,600
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Natural gas (000 MCF)
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5,800 &mdash; 6,200
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Liquids (000 Barrels)
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750 &mdash; 800
</td>
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Segment Adjusted EBITDA Expense (% of Oil &amp; Gas Royalties Revenue)
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~&nbsp;13.0%
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Coal Royalties
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<td colspan="1" rowspan="1">
Royalty tons sold&nbsp;(Million Short Tons)
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</td>
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20.4 &mdash; 21.5
</td>
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<td colspan="1" rowspan="1">
Revenue per royalty ton sold
</td>
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&nbsp;
</td>
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&nbsp;
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<td colspan="1" rowspan="1">
&nbsp;
</td>
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&nbsp;
</td>
<td colspan="1" rowspan="1">
$3.15&nbsp;&mdash;&nbsp;$3.35
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Segment Adjusted EBITDA Expense per royalty ton sold
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
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&nbsp;
</td>
<td colspan="1" rowspan="1">
$1.15&nbsp;&mdash;&nbsp;$1.25
</td>
</tr>
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<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
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&nbsp;
</td>
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&nbsp;
</td>
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&nbsp;
</td>
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&nbsp;
</td>
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<td colspan="1" rowspan="1">
Consolidated&nbsp;(Millions)
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</td>
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&nbsp;
</td>
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&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
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<td colspan="1" rowspan="1">
Depreciation, depletion and amortization
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
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</td>
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</td>
<td colspan="1" rowspan="1">
$280&nbsp;&mdash;&nbsp;$300
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
General and administrative
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
$80&nbsp;&mdash;&nbsp;$85
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Net interest expense
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
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</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
$34&nbsp;&mdash;&nbsp;$36
</td>
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<tr>
<td colspan="1" rowspan="1">
Income tax expense
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
$17&nbsp;&mdash;&nbsp;$19
</td>
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<tr>
<td colspan="1" rowspan="1">
Total capital expenditures
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
$420&nbsp;&mdash;&nbsp;$460
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Growth capital expenditures
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
$25&nbsp;&mdash;&nbsp;$30
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Maintenance capital expenditures
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
$395&nbsp;&mdash;&nbsp;$430
</td>
</tr>
</tbody>
</table>
<table cellspacing="0">
<tbody>
<tr>
<td colspan="2" rowspan="1">__________________</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
(1)
</td>
<td colspan="1" rowspan="1">
Sales price per ton is defined as total coal sales revenue divided by total tons sold.
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
(2)
</td>
<td colspan="1" rowspan="1">
Segment Adjusted EBITDA Expense is defined as operating expenses, coal purchases, if applicable, and other income or expense as adjusted to remove certain items from operating expenses that we characterize as unrepresentative of our ongoing operations.
</td>
</tr>
</tbody>
</table>

Earnings

Guidance

Alliance Resource Partners Maintains 2024 Guidance: Expects Sales Volumes In Coal Operations Of 33.50M-34.50M Short Tons

Alliance Res Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) reported quarterly earnings of $0.66 per share which missed the analyst consensus estimate of $0.88 by 25 percent. This is a 44.07 percent decrease over earnings of $1.18 per share from the same period last year. The company reported quarterly sales of $613.600 million which missed the analyst consensus estimate of $641.731 million by 4.38 percent. This is a 3.60 percent decrease over sales of $636.521 million the same period last year.

Earnings Misses

Alliance Res Partners Q3 2024 GAAP EPS $0.66 Misses $0.88 Estimate, Sales $613.600M Miss $641.731M Estimate

Alliance Res Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) is preparing to release its quarterly earnings on Monday, 2024-10-28. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Alliance Res Partners to report an earnings per share (EPS) of $0.86.
Anticipation surrounds Alliance Res Partners's announcement, with investors hoping to hear about both surpassing estimates and receiving positive guidance for the next quarter.
New investors should understand that while earnings performance is important, market reactions are often driven by guidance.
<h3>Earnings History Snapshot</h3>
In the previous earnings release, the company missed EPS by $0.16, leading to a 0.81% drop in the share price the following trading session.
Here's a look at Alliance Res Partners's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.93</td>
<td>0.93</td>
<td>1.14</td>
<td>1.28</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.77</td>
<td>1.21</td>
<td>0.88</td>
<td>1.18</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-1.0%</td>
<td>1.0%</td>
<td>3.0%</td>
<td>-2.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729875775_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Alliance Res Partners were trading at $25.5 as of October 24. Over the last 52-week period, shares are up 12.51%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analyst Views on Alliance Res Partners</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on Alliance Res Partners.
A total of 1 analyst ratings have been received for Alliance Res Partners, with the consensus rating being Buy. The average one-year price target stands at $26.0, suggesting a potential 1.96% upside.
<h3>Understanding Analyst Ratings Among Peers</h3>
The analysis below examines the analyst ratings and average 1-year price targets of CONSOL Energy, Peabody Energy and Arch Resources, three significant industry players, providing valuable insights into their relative performance expectations and market positioning.
<ul>
<li>For CONSOL Energy, analysts project an Buy trajectory, with an average 1-year price target of $123.5, indicating a potential 384.31% upside.</li>
<li>For Peabody Energy, analysts project an Buy trajectory, with an average 1-year price target of $30.67, indicating a potential 20.27% upside.</li>
<li>Arch Resources is maintaining an Buy status according to analysts, with an average 1-year price target of $193.0, indicating a potential 656.86% upside.</li>
</ul>
<h3>Snapshot: Peer Analysis</h3>
The peer analysis summary offers a detailed examination of key metrics for CONSOL Energy, Peabody Energy and Arch Resources, providing valuable insights into their respective standings within the industry and their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Alliance Res Partners</td>
<td>Buy</td>
<td>-7.55%</td>
<td>$137.98M</td>
<td>5.16%</td>
</tr>
<tr>
<td>CONSOL Energy</td>
<td>Buy</td>
<td>-25.54%</td>
<td>$366.50M</td>
<td>4.11%</td>
</tr>
<tr>
<td>Peabody Energy</td>
<td>Buy</td>
<td>-17.88%</td>
<td>$238.10M</td>
<td>5.59%</td>
</tr>
<tr>
<td>Arch Resources</td>
<td>Buy</td>
<td>-19.61%</td>
<td>$41.63M</td>
<td>1.02%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Alliance Res Partners ranks at the bottom for Revenue Growth among its peers. It is also at the bottom for Gross Profit. However, it is at the top for Return on Equity.
<h3>All You Need to Know About Alliance Res Partners</h3>
Alliance Resource Partners LP operates as a coal mining company based in the United States. It has four segments Illinois Basin, Appalachia, Oil &amp; Gas Royalties and Coal Royalties. The Illinois Basin comprises underground mining complexes in Illinois, Indiana, Kentucky, Maryland and West Virginia. The Appalachia segment comprises the Mettiki mining complex, the Tunnel Ridge mining complex and the MC Mining complex. The Oil &amp; Gas Royalties has oil &amp; gas mineral interests held by AR Midland and AllDale I &amp; II and includes Alliance Minerals' equity interests in both AllDale III and Cavalier Minerals. The Coal Royalties has included coal mineral reserves and resources owned or leased by Alliance Resource Properties.
<h3>Understanding the Numbers: Alliance Res Partners's Finances</h3>
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Decline in Revenue: Over the 3 months period, Alliance Res Partners faced challenges, resulting in a decline of approximately -7.55% in revenue growth as of 30 June, 2024. This signifies a reduction in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Energy sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 16.57%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 5.16%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Alliance Res Partners's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 3.27% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: With a below-average debt-to-equity ratio of 0.26, Alliance Res Partners adopts a prudent financial strategy, indicating a balanced approach to debt management.
<a href="https://www.benzinga.com/quote/ARLP/earnings">To track all earnings releases for Alliance Res Partners visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What's Next: Alliance Res Partners's Earnings Preview

The largest Chinese coal producer, CHN Energy Investment Group, has announced a $24 billion investment in a coal-to-petroleum facility in Hami, Xinjiang. The project, scheduled to begin production in 2027, aims to convert excess coal into <a target="_blank" href="https://www.benzinga.com/topic/oil" rel="noreferrer noopener">petroleum products</a>.
The plant should produce synthetic fuels like gasoline and diesel using cutting-edge liquefaction technology. According to Bloomberg's <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-10-10/china-s-top-miner-to-spend-24-billion-on-coal-to-oil-project" rel="noreferrer noopener">report</a>, this would reduce China's reliance on imported oil and manage the surplus coal production.
China produced a record 4.7 billion tons of coal in 2023, while its coal consumption in electricity generation has begun to decline due to an increased focus on renewable energy.
President Xi Jinping has committed to reducing coal use starting in 2026, pushing coal producers to explore alternative uses, like petrochemical feedstocks. Such efforts continue the trend, which shows a 24% growth of coal-to-oil production from 2019 to 2023, reaching 11 million tons annually.
The Hami facility will employ both direct and indirect coal liquefaction technologies. Direct liquefaction converts coal into liquid hydrocarbons by applying heat, hydrogen, and catalysts. It is relatively simple but requires high-quality coal.
Indirect liquefaction, on the other hand, first gasifies coal into syngas, which is then transformed into liquid fuel, offering greater flexibility in the types of coal used. Both methods will be powered by renewable energy sources, such as wind and solar, which aligns with China's green energy transition efforts.
Wang Lining, director of the oil market department of the Economics and Technology Research Institute, said that this project sets a precedent for large-scale application of such technologies, <a target="_blank" href="https://www.chinadaily.com.cn/a/202410/10/WS67073092a310f1265a1c6d37.html" rel="noreferrer noopener">per</a> China Daily.
Such projects could shield China from oil price volatility, as it is the world's largest importer of crude oil. In 2023, its imports reached 11.3 million barrels per day, growing over 10% compared to 2022.
Still, the profitability of coal-to-oil conversions often depends on a wide gap between coal and oil prices. When oil prices fall or coal becomes more expensive, margins can shrink significantly.
China has been ramping up its coal-to-oil projects. From 2019 to 2023, coal-to-oil production capacity surged by 24%, reaching 11 million tons annually.
Read Next: <a href="https://www.benzinga.com/markets/asia/24/10/41257792/oil-dips-to-73-as-china-withholds-stimulus-biden-attempts-to-contain-netanyahu-over-israels-attack-o" target="_blank" rel="noreferrer noopener">Oil Dips To $73 As China Withholds Stimulus, Biden Attempts To Contain Netanyahu Over Israel's Attack On Iran</a>
Photo by anna-evans for Unsplash

Emerging Markets

Commodities

Media

CEIX

COAL

HEAT

China Pledges $24B For Coal-to-Oil Infrastructure To Reduce Oil Imports

ARCH

METC

Shares of coal companies are trading lower amid a drop in the price of the commodity. Weakness may be due to August's ISM Manufacturing PMI data indicating an economic contraction and pending non-farm payrolls data that may determine the size of future rate cuts.

Benchmark analyst Nathan Martin maintains Alliance Res Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) with a Buy and raises the price target from $25 to $26.

Benchmark Maintains Buy on Alliance Res Partners, Raises Price Target to $26

Wall Street opened higher at the start of a data-heavy week, with traders adopting an optimistic tone ahead of crucial earnings<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40016926/markets-brace-for-crucial-interest-rate-shake-up-what-to-expect-from-federal-reserv"> reports and economic events.</a>
The S&amp;P 500 rose 0.4% by midday trading in New York, while the tech-heavy Nasdaq 100 climbed 0.8%. The blue-chip index inched 0.1% up, and small caps slipped 0.8%.
Four out of the six largest U.S. corporations – including Microsoft Corp., Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) – are set to report their latest quarterly earnings between Tuesday and Thursday.
Meanwhile, the Federal Reserve will hold its two-day Federal Open Market Committee (FOMC) meeting, concluding Wednesday with the rate statement and Fed Chair Jerome Powell&#8216;s press conference.
The Fed is widely expected to keep interest rates steady, but traders will closely watch for any signals of a potential rate cut in September. Market-implied odds currently fully factor in a September rate cut, as shown by CME Group&#8217;s FedWatch tool.
Additionally, crucial labor market statistics will be released this week, including the June Job Openings and Labor Turnover Survey (JOLTs) on Tuesday, July private payroll numbers from Automatic Data Processing Inc. on Wednesday, and the highly anticipated official employment report for July on Friday.
Treasury yields were mostly flat for shorter-dated maturities, while yields for both the 10-year and 30-year tenors fell by 2 basis points on Monday. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rose 0.4%.
In commodities markets, oil fell 1.1%, with West Texas Intermediate (WTI) light crude dropping below $76, hitting a fresh 7-week low as bearish demand developments in China outweighed supply concerns from <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40015199/oil-prices-remain-under-pressure-despite-rising-middle-east-tensions-a-bearish-tria">rising Middle East tensions.</a> U.S. natural gas prices also fell 1.4%.
Gold inched 0.5% lower, while copper and silver declined 0.7% and 1.4%, respectively. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) held steady at around $68,000, failing to rally significantly despite bullish headlines over the weekend.
<h3 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,173.24</td>
<td>0.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,482.99</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,620.03</td>
<td>0.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,242.45</td>
<td>-0.8%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:20 p.m. ET</figcaption></figure>
According to <a href="https://pro.benzinga.com/dashboard/?utm_source=BZprocontent072924&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.4% higher to $546.49.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;held steady at $406.12.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) rose 0.8% to $466.90.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.8% to 222.43.</li>
<li>Sector-wise, the Consumer Discretionary Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)&nbsp;outperformed, up by 1.7%, while the&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 1.2%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rallied 5% after a bullish note from Morgan Stanley putting the EV-maker as the analyst &#8216;top pick&#8217; in the U.S. automotive industry. </li>
<li>Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>) rose 2.6% after Fubon issued a &#8216;New Buy&#8217; rating with price target at $4,533. </li>
<li>Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) fell 1.6% after Piper Sandler cut the company&#8217;s rating to Neutral. </li>
</ul>
Stocks moving on earnings were:
<ul>
<li>McDonalds Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) soared 4.3%, despite reporting disappointing profits.</li>
<li>ON Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) skyrocketed 13.5%, eyeing the best one-day gain since November 2022, amid stronger-than-expected quarterly results.</li>
<li>Revvity Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RVTY#NYSE">RVTY</a>) climbed 6.4%. </li>
<li>CNA Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNA#NYSE">CNA</a>) rose 3.7%. </li>
<li>Affiliated Managers Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMG#NYSE">AMG</a>) rose 3.9%. </li>
<li>Alliance Resource Partners L.P. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) tumbled 6%. </li>
</ul>
Large-cap stocks reporting earnings after the close include: 
<ul>
<li>Hologic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLX#NASDAQ">HOLX</a>).</li>
<li>Woodward Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>).</li>
<li>F5 Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>).</li>
<li>Chesapeake Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NYSE">CHK</a>). </li>
<li>Amkor Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>).</li>
<li>Crane Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CR#NYSE">CR</a>). </li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40013144/if-economic-performance-were-an-olympic-sport-us-economy-would-win-gold-says-market">If Economic Performance Were An Olympic Sport, &#8216;US Economy Would Win Gold,&#8217; Says Market Veteran</a></li>
</ul>
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Wall Street Rises Ahead Of Big Tech Earnings, Fed Meeting; Tesla Rebounds, Oil Prices Drop To 7-Week Lows: What's Driving Markets Monday?

Alliance Resource Partners LP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) shares are trading lower after the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b40007261/alliance-resource-partners-l-p-reports-second-quarter-financial-and-operating-results-declares-qua" rel="noreferrer noopener">company reported second-quarter</a> results below the consensus.
Revenue declined 7.6% year-over-year to $593.35 million, missing the consensus of $632.338 million.
Total revenues fell due to an 11.8% drop in coal sales volumes from transportation delays, partially offset by a 3.8% increase in coal sales prices.
Segment adjusted EBITDA stood at $202 million, down 25% Y/Y, in the quarter, and margin fell 793 bps to 34%.
Earnings per unit of $0.77 fell short of the consensus of $0.95.
As of June 30, 2024, the company had a total liquidity of $666 million, including $203.7 million of cash and cash equivalents.
Coal sales prices rose 3.8% year-over-year to $65.30 per ton, while oil &amp; gas royalty volumes increased 6.8% to 817 MBOE.
&#8220;Coal sales volumes during the 2024 Quarter were impacted by flooding on the Ohio River, delaying barge deliveries. Rail and port logistics were disrupted by the Baltimore bridge incident, which as time progressed impacted shipments from our Appalachia rail operations. These delays, combined with lower export sales, lifted our inventories higher by 0.8 million tons compared to the Sequential Quarter,&#8221; commented Joseph W. Craft III, Chairman, President, and Chief Executive Officer.
Additionally, our Oil &amp; Gas Royalties segment reported a 6.8% increase in BOE volumes year-over-year during the 2024 Quarter as our Permian-weighted minerals portfolio continues to realize production growth from recently drilled and completed wells.&#8221;
FY24 Guidance, updated: The company now expects sales volumes in coal operations of 33.50M-34.50M short tons (prior 34.0M-35.8M short tons)
Distributions: On July 26, 2024, ARLP&#8217;s Board approved 2024 Q2 cash distribution of $0.70 per unit, payable on August 14, to unitholders of record on August 7, 2024.
Mr. Craft concluded, &#8220;The increase in coal-fired generation and inventory drawdown is constructive for the U.S. thermal coal market and for ARLP as we look forward to next year and beyond. We remain confident in the core fundamentals expected to drive rapid growth in electricity demand for many years to come, including the increasing power requirements stemming from AI, data centers, and the onshoring of U.S. manufacturing.&#8221;
Price Action: ARLP shares are trading lower by 4.85% at $24.54 at the last check on Monday.
Photo by Andrey Andreyev on Unsplash.

Movers

Alliance Resource Partners' Q2 Earnings Fall Short, Revenue Drops Amid Transportation Delays, Stock Falls

Alliance Resource shares are trading lower after the company reported worse-than-expected Q2 financial results. Additionally, the company lowered its FY24 revenue guidance for its coal operations.

&quot;Turning to the export markets, net back pricing for high sulfur Illinois Basin coal has declined to a level that we have decided it is prudent to slow down production for the back half of the year. Therefore, we are adjusting 2024 full-year&nbsp;guidance&nbsp;for our coal operations. At the midpoint, we now expect to sell approximately 34.0 million tons in 2024, or&nbsp;2.6%&nbsp;below the mid-point of our original&nbsp;guidance&nbsp;for the year. Due to the increased summer burn, we now expect more than half of our uncontracted tonnage position will be sold in the domestic market.&quot;

Alliance Resource Partners Updates 2024 Guidance: Now Expects Sales Volumes In Coal Operations Of 33.50M-34.50M Short Tons (prior 34.0M-35.8M Short Tons)

Alliance Res Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) reported quarterly earnings of $0.77 per share which missed the analyst consensus estimate of $0.95 by 18.95 percent. This is a 40.77 percent decrease over earnings of $1.30 per share from the same period last year. The company reported quarterly sales of $593.350 million which missed the analyst consensus estimate of $632.338 million by 6.17 percent. This is a 7.55 percent decrease over sales of $641.836 million the same period last year.

Alliance Res Partners Q2 2024 GAAP EPS $0.77 Misses $0.95 Estimate, Sales $593.350M Miss $632.338M Estimate

U.S. technology and business leaders, including Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) co-founder Joe Lonsdale, venture capital pioneer Doug Leone, and the Winklevoss twins, have donated to a new super-political action committee supporting Donald Trump&#8217;s presidential bid.
America PAC has raised more than $8.7 million since its launch in June, the Financial Times <a target="_blank" href="https://www.ft.com/content/c1aeef78-590f-4f65-97ff-40f96106254a" rel="noreferrer noopener">cites</a> from a public filing.
Several $1 million donations came from Silicon Valley investors who have recently publicly supported Trump.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39787824/as-trumps-chances-of-presidency-improve-analysts-say-his-return-to-white-house-could-boost-these-3-s" rel="noreferrer noopener">As Trump&#8217;s Chances Of Presidency Improve, Analysts Say His Return To White House Could Boost These 3 Sectors</a>
The donors include Sequoia partner Shaun Maguire, Valor Equity Partners founder Antonio Gracias, Doug Leone, and Joe Lonsdale.
The Winklevoss twins, Cameron and Tyler Winklevoss, each contributed $250,000. Additionally, coal titan Joe Craft, CEO of Alliance Resource Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>), and Jimmy John Liautaud, founder of the Jimmy John&#8217;s sandwich chain, made $1 million in donations.
One person with direct knowledge of the super PAC mentioned that Elon Musk plans to commit $45 million a month, <a target="_blank" href="https://t.co/khhwZ6eli6" rel="noreferrer noopener">WSJ report says</a>.
However, Elon Musk &#8216;denied&#8217; the report, although not directly but via a meme posted on his social media platform X.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"> <a href="https://t.co/RJdF7MWeEi">pic.twitter.com/RJdF7MWeEi</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1813097084595163643?ref_src=twsrc%5Etfw">July 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Traditionally considered a liberal stronghold, Silicon Valley has seen some tech leaders shift politically to the right, driven by dissatisfaction with President Joe Biden&#8217;s policies on regulation and taxes.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photos by Frederic Legrand &#8211; COMEO on Shutterstock

Government

Politics

PLTR

Musk Could Join Some Silicon Valley Moguls in Funding Trump's Presidential Bid: Report

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer said Ferguson plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FERG#NYSE">FERG</a>) is a &#8220;very, very good&#8221; company. However, he recommends Trane Technologies plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TT#NYSE">TT</a>) or Carrier Global Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) &#8216;in case you want HVAC <a href="https://www.benzinga.com/news/earnings/24/06/39161534/fergusons-q3-margins-expand-despite-continued-deflation-details-here">(heating, ventilating, and air conditioning</a>).&#8217;
On June 4, Ferguson reported third-quarter net sales of $7.308 billion. That&#8217;s 2.4% higher year over year, driven by volume improvement despite continued deflation of approximately 2%.
KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) is the &#8220;foremost, the other one that I would recommend is Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>),&#8221; Cramer said.
On July 8, TD Cowen analyst Bill Katz maintained KKR with a Buy and lowered the price target from $157 to $145.
The &#8220;Mad Money&#8221; host said he will pay no amount for Petróleo Brasileiro S.A. &#8211; Petrobras (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBR#NYSE">PBR</a>).
On June 27, B of A Securities analyst Caio Ribeiro upgraded Petrobras Brasileiro from Neutral to Buy and raised the price target from $16.8 to $17.9.
Alliance Resource Partners, L.P. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) has had a very big run, he said. &#8220;I know the yield looks great — I think you're peaking on a coal cycle here, I'm not going to get in front of a peak of a coal cycle.&#8221;
On May 29, Alliance Resource Partners announced the pricing of $400 million private offering of senior notes.
Cramer recommended to hold Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) here.
Alibaba Group and SenseTime highlighted significant progress in artificial intelligence at the World Artificial Intelligence Conference (WAIC) in Shanghai, signaling intense <a href="https://www.benzinga.com/news/24/07/39663974/chinas-ai-leaders-alibaba-and-sensetime-showcase-breakthroughs-at-shanghai-conference">competition in China's AI market</a>.
Price Action:
<ul>
<li>KKR shares fell 2% to settle at $105.07 on Monday.</li>
<li>Ferguson shares fell 0.1% to close at $190.66 during Monday's session.</li>
<li>Petroleo Brasileiro shares gained 2.7% to close at $15.13.</li>
<li>Alliance Resource Partners shares fell 2.4% to close at $24.67 on Monday.</li>
<li>Alibaba shares fell 1.4% to close at $73.50 on Monday.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39665755/wall-streets-most-accurate-analysts-say-buy-these-3-utilities-stocks-delivering-high-div">Wall Street&#8217;s Most Accurate Analysts Say Buy These 3 Utilities Stocks Delivering High-Dividend Yields</a></li>
</ul>

Long Ideas

Markets

Trading Ideas

BABA

CARR

FERG

Jim Cramer Says He Will Pay No Amount For This Energy Stock, Calls Ferguson A 'Very, Very Good' Company

Shares of oil and gas companies are trading higher as traders anticipate an increase in demand during the summer. Also, strength may be due to better-than-expected Chinese manufacturing activity data.

TECK

Shares of coal companies are trading lower after the EU reportedly approved compensation for LEAG's coal exit.

Benchmark analyst Nathan Martin reiterates Alliance Res Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) with a Buy and maintains $25 price target.

Reiteration

Benchmark Reiterates Buy on Alliance Res Partners, Maintains $25 Price Target

Alliance Resource Partners shares are trading higher after the company reported better-than-expected Q1 financial results and reiterated FY24 guidance.

Noble Financial analyst Mark Reichman maintained a Buy rating on Alliance Resource (ARLP – Research Report) today and set a price target of $33.00....

Noble Financial Sticks to Its Buy Rating for Alliance Resource (ARLP)

Coal stocks are down, but not out. These 2 coal stocks lead the industry and pay high dividends.

2 High Dividend Coal Stocks To Buy

Wolfe's short ideas: Companies with potential dividend cuts

The latest update is out from Alliance Resource ( ($ARLP) ). Alliance Resource Partners, L.P. announced the appointment of Ronna R. McDaniel to its...

Alliance Resource Expands Board with Strategic Appointment

Critically Evaluating The Bull Thesis For Alliance Resource Partners

Coal miners climb after Trump offers praise at Davos

President Donald Trump encouraged coal as a viable source of U.S. power during a video address on Thursday to the World Economic Forum in Davos, Sw...

U.S. miners get a boost from Trump coal comments to Davos, Bloomberg reports

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President ...

Trump Trade: President blasts EU regulators for targeting U.S. tech companies

Alliance Resource Partners declares $0.70 dividend

Alliance Resource Partners Q4 2024 Earnings Preview

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Press Releases

Alliance Resource Partners, L.P. Announces Second Quarter 2024 Earnings Conference Call

Alliance Resource Partners, L.P. Declares Quarterly Distribution of $0.70 Per Unit; Announces Robinson Retirement from Alliance Board, Vining Election to Alliance Board, and Watson promotion to Senior Vice President

Alliance Resource Partners, L.P. Reports Second Quarter Financial and Operating Results; Declares Quarterly Cash Distribution of $0.70 Per Unit and Updates 2024 Guidance

Alliance Resource Partners, L.P. Announces Third Quarter 2024 Earnings Conference Call

Alliance Resource Partners, L.P. Reports Third Quarter Financial and Operating Results; Declares Quarterly Cash Distribution of $0.70 Per Unit and Updates Committed & Priced Sales Tons

Alliance Resource Partners, L.P. Announces Issuance of WARN Act Notice at Excel Mining, LLC

Alliance Resource Partners, L.P. to Attend Upcoming Investor Conferences

Alliance Resource Partners, L.P. Announces McDaniel Elected to Alliance Board

Alliance Resource Partners, L.P. Announces Fourth Quarter 2024 Earnings Conference Call

Alliance Resource Partners, L.P. Declares Quarterly Distribution of $0.70 Per Unit

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