Peabody Energy slides after cutting sales forecast

April 23, 2015 8:56 PM

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Coal miner Peabody Energy Corp. cut its sales forecast Thursday after posting a bigger loss in the first quarter, and its shares fell 7 percent in afternoon trading.

The world's largest private-sector coal producer cut its annual sales estimate by 10 million tons of coal because it expects lower sales in the U.S. The St. Louis company reported a bigger loss than Wall Street expected for its first quarter and its revenue came up short of analyst estimates.

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