This could well be a season of corporate turnarounds. As U.S. equities continue to trend higher on better results and an improving economy, even laggards and beaten down stocks such as Thompson Creek Metals Company Inc (NYSE:TC), Arch Coal Inc (NYSE:ACI), and Molycorp Inc (NYSE:MCP) are now recovering. Is it worth considering putting your money in these stocks? Here is a closer look: Thompson Creek Metals Company Inc (TC) Discount Per Share Thompson Creek...
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This where we stand, and it’s a fairly bleak view: Peak oil is almost here, and nothing new (with the possible but unlikely exception of Iraq) is coming online anytime soon and while the clock is ticking – forward movement on developing renewable energy resources has been sadly inadequate. In the meantime, the idea that shale reservoirs will lead the US to energy independence will soon enough be recognized as unrealistic hype. There are...
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Total N. american rail traffic rebounded from the typical Christmas/New Year slump last week to 686k carloads. This is a very strong number as the rebound is back near the high levels of 2012. Typically rail traffic rebounds in early January but to no where near the high points of the previous year. Here is the chart: Now, some have doubted the strength of rail traffic through the end of the year and here...
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Total North American rail traffic last week continued to buck its normal seasonal end of year swoon trend. It came in at 684k vs 701k the prior week. The 2% drop is well below the 5%-10% drop we have seen in previous years. The only drop was in intermodal and coal. This again conflicts with the data from last year which saw a drop in almost all categories. Here is the chart: Now, many...
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Peabody Energy Corporation (NYSE:BTU) reported operating EPS of $0.51 this morning, above consensus estimates of $0.34. Peabody Energy Corporation (NYSE:BTU) beat on the top line and the bottom line. The strong earnings quarterly earnings and revenue was driven by higher shipments and a QoQ improvement in costs across all regions. Net debt was $5.7b in 3Q, vs. $5.9b in 2Q. Shares of Peabody Energy Corporation (NYSE:BTU) are soaring on the earnings, up 12.40% at the time of this writing....
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Several major companies are reporting earnings today. We have a calendar/preview of the companies reporting (mostly third quarter) below. We highlight the companies reporting before and after the market close. The companies include, Caterpillar Inc. (NYSE:CAT), Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), Hasbro, Inc. (NASDAQ:HAS), SunTrust Banks, Inc. (NYSE:STI), Peabody Energy Corporation (NYSE:BTU), V.F. Corporation (NYSE:VFC), Yahoo! Inc. (NASDAQ:YHOO), Texas Instruments Incorporated (NASDAQ:TXN), Western Digital Corp. (NASDAQ:WDC), and Zions Bancorporation (NASDAQ:ZION) Caterpillar Inc. (NYSE:CAT) is reporting third quarter earnings on Monday Morning before the open....
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Total N. American rail traffic came in at 692k cars last week (716k adjusted). The adjusted number (for decline in coal shipments ~20k/wk) easily surpasses last years 698K. The coal adjustment this week is 24k cars YOY. This will bear watching but it seems as though coal traffic is beginning to fall even more YOY than we were seeing over the summer. The weekly divergence has gone from a 18k-22k weekly change to a...
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Total N. American rail traffic came in at 717k card last week. The adjusted total of ~735k cars sets a new 4 year record for a single week in the series handily beating the 721k set during the same week last year. As we have done since the beginning of the year we adjust for the collapse in coal shipments (~20k) cars per week due to the switch from coal to nat gas by...
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U.S. demand for coal is at a 24-year low, and inventories are continuing to build as the global economy slows. WilburRoss, WL Ross & Company chairman/CEO, discusses whether investors should expect more trouble ahead for the commodity Quotes: “The current downturn is secular.” “In the past it’s been cyclical but not now. The last time coal traded at these levels the industry turned higher but I don’t think that happens this time.” “Some railroads have large...
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Patriot Coal Corporation (NYSE:PCX) filed for Chapter 11. I have been getting emails on it so thought I would answer. Not interested. WHY? Patriot Coal Corporation listed ~$500M in net equity. The problem with that is most of their assets are coal. Some basics: The company postponed closing a $625 million, 9.5 percent five-year loan after saying May 14 that a key customer might default on a contract for coal that had fallen as...
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Investors in Patriot Coal Corporation (NYSE:PCX) have had a tough year. A year that has seen shares in the coal concern drop over 73% over the year ending on Friday, July 5th. Today, however, things went from bleak to coal black as the stock closed at $.61 following the announcement and an intraday trading high of $2.09. However, this may be more than the death of Patriot Coal Corporation, it is possibly the death...
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