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BTU

Peabody Energy Corporation

5/18/2013, 4:46 PM ET

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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]
Thursday, April 18, 2:07 PM Peabody (BTU +8%) posted a 13.5% Y/Y decline in revenues, attributable to a 12% drop in U.S. coal revenue and 6% fewer shipments; also, Australian revenue fell 13.6% on a 32% drop in realized pricing per ton. But the lack of further negative news is a positive, Cowen says. As the first (and largest) U.S. coal miner to report, BTU’s results offer a sneak peek at others: ACI +10.5%, ANR +7.7%, CNX +6%. 2 Comments [Energy, On the Move]
Thursday, April 18, 8:29 AM More on Peabody Energy's (BTU) Q1 results: Projects 2013 U.S. coal consumption for electricity generation will grow by 60M-80M tons Y/Y based on strong Q1 demand, which rose 8% and accounted for ~40% of total electricity generation. Issues downside guidance for Q2, seeing EPS of ($0.25)-$0.01 vs. $0.01 consensus. Shares +1.2% premarket. 1 Comment [Energy, Earnings]
Thursday, April 18, 8:03 AM Peabody Energy (BTU): Q1 EPS of -$0.05 beats by $0.09. Revenue of $1.75B (-14% Y/Y) misses by $0.03B. (PR) 5 Comments [Earnings, Breaking News]
Thursday, April 18, 12:05 AM Notable earnings before Thursday’s open: ADS, AN, APH, BAX, BBT, BPOP, BTU, BX, CY, DHR, FCS, FCX, FITB, KEY, LDK, MMR, MS, NOK, NUE, OMC, PBCT, PENN, PEP, PM, PPG, SHW, SNA, SON, TSM, TZOO, UNH, UNP, VZ Comment! [Earnings]
Wednesday, April 17, 5:30 PM Notable earnings before Thursday’s open: ADS, AN, APH, BAX, BBT, BPOP, BTU, BX, CY, DHR, FCS, FCX, FITB, KEY, LDK, MMR, MS, NOK, NUE, OMC, PBCT, PENN, PEP, PM, PPG, SHW, SNA, SON, TSM, TZOO, UNH, UNP, VZ Comment! [Earnings]
Friday, April 12, 8:43 AM Walter Energy (WLT) +6.5% premarket after reporting a strong start to the year thanks to higher prices for coal used in steelmaking and rising production. A Brean Capital analyst says that while the performance was not surprising, many investors had feared the worst. Coal names are trading higher: JRCC +4.3%, ANR +2.4%, ACI +1.8%, BTU +1.5%, CLF +1.1%. 4 Comments [Energy, On the Move]
Friday, April 5, 12:10 PM Select coal stocks are on the move following a bullish note from Goldman Sachs, which predicts 10% Y/Y gains in demand for thermal coal as a result of less coal-to-gas switching; the higher forecast reflects an improved outlook for natural gas prices and normalized storage. ANR +3.8%, ACI +3.1%, CNX +2.7%, BTU +0.9%, CLD +0.2%. 8 Comments [Energy, Quick Ideas, On the Move]

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