Posts for Ticker ‘MEE’

Cramer Outlines The Obama Target List (COF, ACI, MEE, X, SO)

Obama ImageCramer ImageTonight on CNBC’s MAD MONEY, Jim Cramer came out with several sectors that he thinks that President Obama will be trying to change, and noted Nancy Pelosi is in the fold as well.  He thinks they will be targets for change and these businesses can be hurt by government action more than by any competition.  He thinks credit cards, anything carbon, and healthcare are all at-risk sectors that could be hurt by Obama’s actions.

Capital One Financial (NYSE: COF) is the one he is worried about even though the stock was one of his favorites.  He thinks that the big issuers are at risk here and now thinks Capital One is a SELL.  Anything carbon-related is at risk.  Arch Coal Inc. (NYSE: ACI) and Massey Energy Co. (NYSE: MEE) are at risk, but Cramer thinks China can keep their businesses from rotting.  This hurts the steel producers as well and he would sell US Steel (NYSEL: X) on this notion that they are tied to it.  He would also sell Southern Company (NYSE: SO) because it has 71% of its energy from fossil fuels.

In healthcare, he knows pharma and anything that makes a profit in that sector is a target.  He thinks this can drive down anything tied to healthcare as investors have to move to the sidelines to figure it out.

JON C. OGG
May 21, 2009

Posted on: May 21, 2009 – 5:17 pm in Cramer, Metals, Pharmaceuticals, Politics, Utilities, , , , ,

T. Boone Pickens & BP Updated Stock Holdings (ANR, APC, COG, CHK, CNX, DVN, FLR, FWLT, HAL, MEE, OXY, STR, SLB, SU, RIG, WFT)

Pickens PicThis morning we got to see the new equity holdings of T. Boone Pickens, via his BP Capital Management, L.P.,  as of March 31, 2009.  Some of the higher stakes look to be in Chesapeake Energy Corporation (NYSE: CHK), Devon Energy Corporation (NYSE: DVN), Suncor Energy Inc. (NYSE: SU), and Transocean Ltd. (NYSE: RIG).  Here is the full list of holdings for Pickens’ BP Capital with the implied value as of the reporting dat of March 31:

Posted on: May 15, 2009 – 11:37 am in Activist Investor, Insider Activity, Mutual Funds, Oil & Gas, , , , , , , , , , , , , , , ,

EPA Stutters on Mountaintop Removal Mining (MEE)

coal-image3The US Environmental Protection Agency has sent a letter to two offices of the Army Corps of Engineers related to “potential harmful impacts on water quality” at two surface coal mine operations, one in West Virginia and one in Kentucky. One of the mines is owned by a subsidiary of Massey Energy Co. (NYSE: MEE) and the other by a subsidiary of Rhino Resources. According to the press release, the EPA will also review other mining permits involving a practice called mountaintop removal.
Read More »

Posted on: March 25, 2009 – 8:49 am in Commodities, Regulation,

Less Demand, Less Coal, Less Profit (BTU, ACI, CNX, MEE)

Coal_image Peabody Energy Corporation (NYSE:BTU) yesterday reduced its production estimates for Wyoming’s Powder River Basin and for its Australian coal mining. The company said it has produced "in excess of 200 million tons" of coal in 2008, but expects [CORRECTION] US production in 2009 in the range of 190-195 million tons.

  • When you graph the share prices of four leading coal companies, Peabody, Arch Coal Inc. (NYSE:ACI), CONSOL Energy Inc. (NYSE:CNX), and Massey Energy Company (NYSE:MEE), the lines look like exact copies of one another.

Read More »

Posted on: January 8, 2009 – 11:43 am in Commodities, Earnings, , , ,

CO2 Restriction Easing on Coal-fired Power Plants? (BTU, ACI, MEE, CNX, FTEK)

Carbon_emissions_imageLast August, the US Environmental Protection Agency (EPA) ruled that a proposed coal-fired power plant in Utah did not need to file for a clean-air permit because the emissions from the plant were not regulated pollutants under the Clean Air Act. Carbon dioxide, which all of us expel every time we exhale, is not a pollutant under the EPA regulations. Thus, if a power plant is going to emit carbon dioxide, it’s just breathing.

Read More »

Posted on: December 22, 2008 – 10:04 am in Alternative Energy, Oil & Gas, Utilities, , , , ,

Which Metals & Mining Stock Look Best For 2009? (RTP, BHP, ABX, GG, BTU, MEE)

In our preview of energy stocks for 2009 we were able to come up with a company that might actually provide a decent return to investors. Looking at some of the major mining stocks, however, is a somewhat bleaker experience.  We have reviewed Rio Tinto plc (NYSE:RTP), BHP Billiton Ltd. (NYSE:BHP), Barrick Gold Corp. (NYSE:ABX), Goldcorp Inc. (NYSE:GG), Peabody Energy Corp. (NYSE:BTU), Massey Energy Co. (NYSE:MEE) to see which of the major miners have the best and worst prospects for 2009.

Read More »

Posted on: December 11, 2008 – 12:39 pm in Commodities, Metals, Value Investing, , , , , ,

Similar Results, Different Outcomes (MDU, MEE)

There are two companies which have reported earnings where the reactions to the same sort of news were entirely different.  Here are the reports at MDU Resources (NYSE:MDU) and Massey Energy (NYSE:MEE).

Read More »

Posted on: October 31, 2008 – 10:25 am in Commodities, Earnings, Utilities, ,

Coal and Steel Play Follow the Leader (IIIN, RS, ACI, BTU, MEE, NUE)

Two small-cap steel companies reported earnings before the market opened today. Insteel Industries (NASDAQ:IIIN) beat analysts’ estimates of $0.60 EPS on $101 million in revenue, posting EPS of $0.89 on revenues of $106 million. Reliance Steel (NYSE:RS) posted EPS of $2.07 on revenue of $2.57 billion, easily outpacing estimates of $1.95 EPS and revenue of $2.37 billion. Insteel is up more than 3% and Reliance is up more than 11% in early trading today.

Read More »

Posted on: October 16, 2008 – 2:48 pm in Commodities, Earnings, Metals, , , , , ,

CONSOL Guidance, A Canary In The Coal Sector (CNX, MEE, FCL, ACI, BTU, JRCC)

Coal_imageCONSOL Energy (NYSE:CNX) announced a dramatic change in its guidance for the third quarter. Production is expected reach just 15 million tons, well below even the low estimate of 16.4 million tons in previous guidance. Operating costs are also expected to rise 8%-10% from second quarter levels of $41.60/ton. Essentially, the company attributed lower production to poor execution and more frequent safety inspections. CONSOL did reaffirm production guidance for the fourth quarter of 17.8-19.8 million tons.

Just over a month ago, we noted the declines in coal stocks, and the situation has not improved. The biggest loser since then has been Massey (NYSE:MEE), down 40%, followed by Foundation Coal (NYSE:FCL), off 37%. Arch Coal (NYSE:ACI), Peabody (NYSE:BTU), James River (NASDAQ:JRCC), and CONSOL are down 22%-28%.

Read More »

Posted on: September 24, 2008 – 9:25 am in Commodities, Earnings Warning, , , , , ,

Coal Stocks Above 2007, But Valuation Risks Remain (ACI, BTU, CNX, FCL, MEE, KOL)

Coal_image_2In the past 52-weeks, the stock price of five large coal companies has risen anywhere from 50% to nearly 250%. But that’s still between 27% and 42% below annual highs that the companies reached in June. Peabody Energy (NYSE:BTU) has fallen 27% from its 52-week high, Arch Coal (NYSE:ACI) and Massey Energy (NYSE:MEE) have both dropped 32%, Foundation Coal (NYSE:FCL) has dropped 34%, and CONSOL Energy has lost 42%. In late June, Massey was up nearly 400% and CONSOL was up more than 200%.  These numbers may be slightly different based upon UBS’s upgrade to coal stocks this morning, but you will see the general idea below.

Read More »

Posted on: August 21, 2008 – 10:36 am in Commodities, ETF, Utilities, , , , , ,

Top Pre-Market Analyst Upgrades (AAUK, ACI, BBT, CETV, FCL, JKHY, MEE, WCG)

These are some of the top upgrades or positive calls we are seeing from analysts this Thursday morning:

  • Anglo American (AAUK) Raised to Strong Buy at S&P (late Weds. call).
  • Arch Coal (ACI) Raised to Buy at UBS.
  • BB&T Corp. (BBT) Raised to Buy at S&P.
  • Central European Media (CETV) Raised to Buy at Citigroup.
  • Foundation Coal (FCL) Raised to Buy at UBS.
  • Jack Henry (JKHY) Cut to Hold at Needham; Cut to Neutral at D.A. Davidson.
  • Massee Energy (MEE) Raised to Buy at UBS.
  • WellCare Group (WCG) Started as Buy at B of A.

Jon C. Ogg
August 21, 2008

Posted on: August 21, 2008 – 6:36 am in Analyst Calls, , , , , , , ,

Top 10 Pre-Market Analyst Calls (BBI, DO, NE, EMC, ELX, HP, MEE, MHK, PVA, TEF, VOD, RIG)

These are the early-bird calls that we are looking at pre-market this Tuesday morning ahead of the earnings deluge that is about to start:

  • Blockbuster (NYSE: BBI) Cut to Neutral at JPMorgan.
  • Diamond Offshore (NYSE: DO) & Noble Corp. (NYSE: NE) cut to Hold at Deutsche Bank.
  • EMC Corp. (NYSE: EMC) cut to Hold from Buy at Citigroup.
  • Emulex (NYSE: ELX) Cut to Sell from Buy at Citigroup.
  • Helmerich & Payne (NYSE: HP) Started as Overweight at JPMorgan.
  • Massey Energy (NYSE: MEE) Raised to Overweight from Neutral at JPMorgan.
  • Mohawk Industries (NYSE: MHK) Started as Buy at UBS.
  • Penn Virginia (NYSE: PVA) Started as Overweight at Lehman Brothers.
  • Telefonica (NYSE: TEF) and Vodafone (NYSE: VOD) started as Outperform at Bernstein.
  • Transocean (NYSE: RIG)) cut to Sell from Hold at Deutsche Bank.

Jon C. Ogg
April 15, 2008

Posted on: April 15, 2008 – 5:45 am in Analyst Calls, , , , , , , , , , , ,

Goldman Sachs Pans Coal (ACI, FCL, ICO, BTU, MEE, CNX)

Goldman Sachs has downgraded its coverage in Coal Stocks this morning.   Goldman Sachs is basing this partly on the 30% gains seen, and valuations are stretched.

There were several downgraded from a Neutral rating down to SELL: Arch Coal (NYSE: ACI), Foundation Coal (NYSE: FCL), International Coal Group (NYSE: ICO), and Massey Energy (NYSE: MEE).  Two others escaped with a little more dignity, but these were still downgraded to Neutral ratings from Buy: Peabody Energy (NYSE: BTU) and Consolidated Energy (NYSE: CNX).

Jon C. Ogg
February 15, 2008

Posted on: February 15, 2008 – 7:45 am in Analyst Calls, Oil & Gas, , , , , , ,