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Industrial and tech shares rally, 3 M at 52- week high. *Boeing shares hit 5 1/ 2- year high. NEW YORK, June 18- U.S. stocks advanced for a second straight day on Tuesday as investors bet the Federal Reserve would temper statements which were interpreted to mean a sooner-than-expected winding down of stimulus efforts.
General Electric gained 1.9 percent to $24.21 and was the fourth most actively traded stock on the New York Stock Exchange. The expectation is that the Fed will dial back its rhetoric on tapering to ease "hysteria" in the markets since talk of reducing stimulus heated up in May, said Peter Kenny, chief market strategist at Knight Capital in Jersey City, New Jersey.
BIRMINGHAM, Ala.-- Coal miner Walter Energy Inc., said Friday it will not proceed with moves announced last week to refinance some of its debt. After the markets closed, Walter Energy said that it does not have any material debt principal payments due until 2015 and has no additional funding needs right now.
June 14- Walter Energy Inc has pulled a planned $1.55 billion credit refinancing, Reuters Loan Pricing Corp reported on Friday, citing sources, and the coal miner's shares fell after the news. Walter's typically volatile shares dropped sharply after the news, falling 17.2 percent to $12.16 before they were halted pending news on the New York Stock Exchange.
June 14- Walter Energy Inc has pulled a planned $1.55 billion credit refinancing, Reuters Loan Pricing Corp reported on Friday, citing sources, sending the coal miner's shares lower. The Morgan Stanley- led deal was pulled because of market conditions, the report said.
NEW YORK-- A look at New York Stock Exchange 10 most-active stocks at 1 p.m.:. AT&T Inc. fell. 7 percent to $36.04 with 10,958,300 shares traded. Bank of America Corp. fell. 9 percent to $13.09 with 45,613,500 shares traded.
NEW YORK-- A look at the 10 biggest percentage decliners on New York Stock Exchange at 1 p.m.:. Walter Industries Inc. fell 13.6 percent to $12.69. Gannett Co. fell 8.7 percent to $24.29.
Major sector indices start the second quarter with a perfect inverse image of first quarter performance. Dow Transports and small-cap stocks lag.
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"Most of the coal companies are' buys' at these levels," said Eric Green, a senior portfolio manager at Penn Capital in Philadelphia. " Green said he expected Alpha Natural Resources Inc, which closed on Wednesday at $8.67, and Walter Energy Inc, which ended at $36.88, ultimately to rise 50 percent from current levels.
Morgan Stanley has identified some 40 stocks that could be candidates for tender offers in the next 12 months using its new quantitative model.