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Market Vectors Coal ETF

5/26/2013, 2:43 AM ET

Quote & Headlines Market Currents StockTalk

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Thursday, May 23, 11:20 AM Coal (KOL) has been gaining on natural gas in U.S. power generation, but coal producers aren't enjoying the benefits, buffeted by headwinds including increased regulations. Simmons analysts say most coal names do not screen as cheap, and the firm sees near-term volatility as investors trade around macro events; its sector favorites are Cloud Peak Energy (CLD) and Walter Energy (WLT). 9 Comments [Energy, Quick Ideas]
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]
Wednesday, April 24, 5:59 PM Japan's government is preparing new environmental assessment standards for coal-fired power plants, in a major step toward lifting its virtual ban on construction since 2005, Nikkei.com reports. 3 Comments [Energy, Global & FX]
Tuesday, April 23, 12:32 PM The EPA wins an important legal victory in a continuing battle with Arch Coal (ACI -4.5% over the Spruce no. 1 West Virginia coal mining project. The case tests whether the EPA can revoke a permit for mountaintop mining after another federal agency had already approved it. For the coal industry, the fight symbolizes what it sees as an unjust power grab by the EPA. 8 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, 11:37 AM Despite $2T invested over the past 20 years in renewable energy projects, carbon dioxide emissions per unit of energy consumed have fallen by less than 1%, the IEA reports. A main reason is the continued success of coal, the fuel of choice for much of the world despite being in retreat in the U.S. and perhaps even in China. Until low-carbon alternatives get cheaper, coal will continue to be favored. 2 Comments [Energy, Global & FX]
Tuesday, April 9, 6:55 PM The coal industry is far more economically vulnerable than most analysts have realized, a new study says, thanks to cheap natural gas crowding out coal and strict air pollution regulations that could accelerate that shift. Key stat: An additional 56% of the U.S. coal fleet could become more expensive than natural gas, assuming the ratio of gas prices to coal stays around its current level. 9 Comments [Energy, U.S. Economy]
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]
Friday, March 22, 4:32 PM The week's ETF movers - Gainers: AMJ +3.37%. VXX +2.24%. GDX +2.20%. XLP +2.13%. UNG +1.98%.
ETF Losers: EPI -5.54%. BRF -4.26%. KOL -3.67%. EWZ -3.64%. FCG -3.43%. Comment! [On the Move]
Friday, March 22, 10:46 AM Jefferies takes a contrarian stance on coal, making a positive investment case for the surviving producers. All four major coal companies - ANR, ACI, CNX, BTU - have decades of reserves, so there's little need to spend money on exploration, the firm says; even at current prices, the industry should generate substantial levels of free cash flow for years to come. 27 Comments [Energy, Quick Ideas]
Friday, March 15, 4:40 PM Coal companies continue to flounder, and Cowen analysts think the met coal sector may not see improvement with no near-term positive catalysts on the horizon. Australia's rainy season has left met coal production relatively unscathed, and China's high inventories and weakening steel prices could pressure pricing. Among coals, the firm favors Walter Energy (WLT) for the long term. 30 Comments [Energy, Commodities]
Monday, March 11, 5:13 PM Workers at Colombian coal exporter Cerrejon (XSRAF.PK, AAUKY.PK, BHP) sign a collective bargaining agreement effectively ending a month-old strike that hobbled coal production at the one of the world's top producers. Cerrejon produced 34.3M metric tons of coal in 2012, and is investing $1.3B to boost output to 40M tons/year by 2015. Comment! [Commodities, Global & FX]
Monday, March 11, 12:21 PM It's a rough day for coal stocks, as BMO cuts Peabody Energy (BTU -1.3%) and Walter Energy (WLT -1%), believing both have relatively high debt levels and high stock valuations (also). Tudor Pickering downgrades James River (JRCC -7.5%), calling it a "more creative balance sheet restructuring option than coal market recovery play," and Deutsche Bank cuts its price target to $2.50. 3 Comments [Energy, Quick Ideas, On the Move]
Monday, March 4, 12:27 PM Investors looking for a rebound in the coal sector this year should forget about companies that mine power-plant coal and turn up the heat on those that produce met coal used in making steel, BMO Capital says in seeing Teck Resources (TCK) as favored to benefit. Walter Energy's (WLT) mines face high shipping costs to get coal to Asia; Peabody (BTU) is better positioned on that front. 6 Comments [Energy, Quick Ideas]
Monday, March 4, 11:47 AM The labor union representing ~5K workers at Colombia's top coal producer Cerrejon (XSRAF.PK, AAUKY.PK, BHP) says it reached a preliminary agreement that would end a 25-day strike. Cerrejon, which normally produces 100K tons/day of coal, hasn't produced or exported any coal since the strike began Feb. 7. Comment! [Commodities, Global & FX]
Tuesday, February 26, 3:57 PM PowerShares has shuttered 13 ETFs, representing less than 1% of the issuer's AUM, as of today's close. Affected funds follow (with competing funds in parentheses): PIC (KIE, IAK, KBWP, KBWI), PYH, PJB (IAT, KBE, KRE, RKH, QABA, KRU, KRS, KBWR), PSTL (SLX), PLK, PWND (FAN), PMA, PKOL (KOL), PKN (NLR, NUCL, URA), PTO, PAO, PCA and CVRT. (pdf) Comment!

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