New Hope's down 6% today, at time of writing, following today's official 1H report.

All the news channels are attributing it to profit sliding from lower coal prices in 1H.

But the company released that information a month ago when they announced the 4Q results. First lesson: new channels have no idea what they're saying when they attribute causes to share price movements.

From what I can tell there was only 1 bit of new information in today's presentation (which they took all of 6 minutes to deliver). 1H dividend was 10c, down from 15c last half and 19c previous half. The drop correlates almost perfectly with profitability for the last half because of trough in coal prices. So it isn't a great surprise (although admittedly I thought they'd dig into their cash pile a bit to reduce volatility in dividends).

Still . . . second lesson: Folks don't like losing their divvies!