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Peabody Energy Corporation

6/19/2013, 5:43 PM ET

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Tuesday, June 18, 10:41 AM Walter Energy (WLT +12%) finally turns around since dropping 12% after delaying plans to refinance existing debt, as Morgan Stanley steps in to say WLT's potential upside has finally grown too large to ignore. Other coal names (KOL +0.6%) also move higher, perhaps aided by Sterne Agee's slightly improved view for the sector:ACI +4.2%, CLF +3.2%, ANR +3%, BTU +1.3%. Comment! [Energy, On the Move]
Friday, June 14, 2:19 PM Coal stocks (KOL -2.8%) are sliding with the latest statistics from China showing steel production trends declined in late May. Another data point this week: U.S. coal shipments fell 31% M/M in April with high production costs and oversupply in Asia for met coal driving the decline. BTU -4.3%, ACI -6.4%, ANR -4.8%, CNX -2.8%, CLF -4.7%, YZC -4.8%. Trading halted in WLT, -17.3% (earlier). 9 Comments [Energy, On the Move]
Friday, June 14, 1:34 PM Walter Energy (WLT -12.8%) dives after Forbes reports the company withdrew a proposed $1.55B debt refinancing offer due to "market conditions." Other coal stocks are also off: BTU -4.5%. ACI -7.1%. CLF -3.5%. ANR -5.1%. OXF -3.1%. JRCC -3.3%. CLD -4.1%. 8 Comments [Energy, On the Move]
Friday, June 7, 11:14 AM Raymond James cuts its 2013-14 met coal price forecast due to resilient supply growth and slowing demand; a recovery could take longer than expected given declining global GDP growth and a potential slowdown in China demand. Downgraded: Arch Coal (ACI -3.8%), James River (JRCC -12.6%)), Walter Energy (WLT -5%), Alpha Natural (ANR -3.9%), Peabody Energy (BTU -2.1%). 12 Comments [Energy, Quick Ideas]
Wednesday, June 5, 10:59 AM Global thermal coal prices are unlikely to recover this year unless Australian coal producers lower production or an unexpected event rattles the seaborne market and sends prices north, industry experts at the Coaltrans Asia conference say. Coal (KOL -1%) names are weak in early trading: BTU -1.2%, CLF -3.1%, ACI -1.2%, ANR -1.8%, WLT -2%, BHP -2.5%, CNX -1%, CLD -1.9%. 2 Comments [Energy, On the Move]
Thursday, May 30, 12:35 PM Peabody Energy (BTU +1.2%) gives up most of its earlier gains on word that Carl Icahn says he does not own any of the company's shares, dispelling rumors of his involvement that had pushed shares as much as 6.5% higher. 2 Comments [Energy]
Thursday, May 30, 10:37 AM Peabody Energy (BTU +3.9%) pops higher on speculation of an activist investor such as Carl Icahn looking to seek seats on the company's board. The rumor may be helping to lift other coal names: JRCC +2.4%, OXF +1.9%, CLD +1.8%, WLT +1.5%, ANR +0.6%, ACI +0.5%. 1 Comment [Energy, On the Move]
Wednesday, May 15, 8:18 AM State-run Erdenes TT will begin this year to mine Mongolia’s West Tsankhi coal area, part of the 6.4B-ton Tavan Tolgoi basin, a turnaround in the country’s policy two years after naming Peabody Energy (BTU) and others to develop the area. As production rates increase, Erdenes may still pursue some form of partnership, as Mongolian miners have no experience producing such large quantities of coal. 1 Comment [Energy, Global & FX]
Tuesday, May 14, 4:58 PM Peabody Energy (BTU) says in slides for the BAML mining conference it is targeting FY 2013 capex at $450M-$550M, ~50% of 2012 levels. Expects 2013 U.S. coal demand to grow 60M-80M tons. Lowers its 2013 cost per ton targets for U.S. and Australia. Targeting 180M-190M tons of production in 2013. Says 100% of 2013 coal sales are fully priced; 55%-65% of 2014 coal sales are already priced. Shares -0.5% AH. 1 Comment [Energy]
Thursday, May 9, 12:17 PM Fitch Ratings cuts Peabody Energy's (BTU +0.7%) ratings outlook to negative from stable while affirming BTU's issuer default rating at BB+. Fitch says U.S. steam coal prices are weak and should remain so at least through 2013, while met coal prices are likely to remain at current levels to flush excess supply out of the market, which could stretch into 2014. Comment! [Energy]
Monday, May 6, 11:30 AM Coal (KOL) is staging a comeback in the Midwest, as new technologies remove barriers to mining in the Illinois Basin, boosting output and bucking the overall trend, WSJ reports. The region had been largely ignored due to its coal deposits being richer in sulfur, but new scrubbing technology, which removes excess sulfur to meet emissions standards, causes companies to take a fresh look. 1 Comment [Energy]
Thursday, May 2, 2:51 PM Peabody Energy Corporation (BTU) declares $0.085/share quarterly dividend, in line with previous. Forward yield 1.70%. For shareholders of record May 14. Payable June 04. Ex-div date May 10. (PR) Comment! [Dividends]
Tuesday, April 30, 3:58 PM Peabody Energy Corporation (BTU) declares $0.085/share quarterly dividend, in line with previous. Forward yield 1.70%. For shareholders of record May 14. Payable June 04. Ex-div date May 10. (PR) 1 Comment [Dividends]
Monday, April 29, 6:39 PM Arguments got underway today over the fate of healthcare and pension benefits for unionized Patriot Coal (PCXCQ.OB) workers as thousands of miners rallied against proposed cuts. Patriot contends former parent Peabody Energy (BTU) is still on the hook for liabilities Patriot assumed when it was spun off from BTU in 2007; the companies must show the cuts are necessary for survival. Comment! [Energy]
Monday, April 22, 3:58 PM Peabody Energy (BTU -1.7%) sinks to its lowest price in four years as Stifel Nicolaus cuts its earnings estimates, citing lower coal prices and higher than expected costs. With 40% of planned 2014 production yet to be priced, BTU likely would benefit if a utility stockpile decline brings a recovery in thermal coal prices, the firm says, but Australia is a drag on results given continued slow demand for coal exports there. 4 Comments [Energy, Quick Ideas, On the Move]
Friday, April 19, 12:17 PM Peabody Energy (BTU -4.8%) gives back most of yesterday's 7.7% gain from better-than-expected Q1 results. Coal shares rallied broadly on the news as the modestly positive data was a relief for investors fearing the worst, but today the realization is that challenges remain for the coal markets. WLT -6.4%, ANR -3.9%, CLD -3.6%, CNX -2.8%, ACI -2.6%, CLF -1.9%. 4 Comments [Energy, On the Move]

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