Arch Coal Q1 Profit Beats Street

Reuters reported that Arch Coal (NYSE:ACI) increased its 2011 earnings target after high coal prices helped its first quarter earnings beat expectations.

The market news is quoted as saying:

Excluding one-time items, the St. Louis-based company earned 36 cents per share, 4 cents above the average forecast of analysts polled by Thomson Reuters I/B/E/S.

To read the full market news, click here.