Friday morning, Consol Energy (CNX) announced that it will close its Mine 84 near Washington, Penn. The closure will cost roughly 60 employees their jobs.

The employees who lose their jobs will have the choice of taking a position with another Consol operation. The company will conduct the layoffs for 14 days, starting at 12:01 AM on December 1 -- talk about your happy holiday season. The good news is that these workers will be able to look for alternative work before the layoffs take place.

Continue reading Consol Energy to Close Mine

Consol Energy to Close Mine originally appeared on BloggingStocks on Fri, 01 Oct 2010 12:00:00 EST. Please see our terms for use of feeds.

Continue reading CONSOL Energy Q1 Earnings Impress

CONSOL Energy Q1 Earnings Impress originally appeared on BloggingStocks on Thu, 29 Apr 2010 12:50:00 EST. Please see our terms for use of feeds.

Last week, the fourth largest U.S. coal producer, CONSOL Energy (CNX), agreed to pay $3.48 billion for the Appalachian natural gas properties of Dominion Resources (D). It was a major move to diversify its energy platform, picking up 1.46 million oil and gas acres and 9,000 producing wells. In all, CONSOL is expected to boost its natural reserves to about 3 trillion cubic feet and the potential reserve base will be about 41 trillion cubic feet.

However, the deal is not cheap and will require some financial maneuverings. For example, Monday CONSOL agreed to purchase its remaining 17% stake in CNX Gas (CXG) for $965 million.

Continue reading Consol Energy Scoops Up CNX Gas for $965 Million

Consol Energy Scoops Up CNX Gas for $965 Million originally appeared on BloggingStocks on Mon, 22 Mar 2010 11:50:00 EST. Please see our terms for use of feeds.

The earnings crunch is on. Among the many companies scheduled to report quarterly results this week are such so-called bellwether stocks as Amazon.com Inc. (NASDAQ: AMZN), Caterpillar Inc. (NYSE: CAT), Coca-Cola Co. (NYSE: KO), DuPont (NYSE: DD), and United Parcel Service Inc. (NYSE: UPS), all of which analysts surveyed by Thomson Reuters expect to report lower earnings for the recent quarter. Altria Group Inc. (NYSE: MO), McDonald's Corp. (NYSE: MCD), and Raytheon Co. (NYSE: RTN), on the other hand, are expected to post marginal earnings growth.

Continue reading The week in preview: Eye on financial, tech, health care earnings

The week in preview: Eye on financial, tech, health care earnings originally appeared on BloggingStocks on Sun, 19 Apr 2009 12:30:00 EST. Please see our terms for use of feeds.

Arch Coal (NYSE: ACI) closed at $18.50 Friday. ACI January and February option implied volatility of 87 is near its 26-week average according to Track Data, suggesting non-directional price movement.

Massey Energy (NYSE: MEE), a coal miner, closed at $16.19 Friday. MEE is scheduled to report Q4 EPS in the February option cycle. MEE February option implied volatility of 108 is near its 26-week average according to Track Data, suggesting non-directional price fluctuations.

Consol Energy (NYSE: CNX) closed at $32.15 Friday. CNX has two principle business units: coal and gas. CNX February option implied volatility of 90 is near its 26-week average according to Track Data, suggesting non-directional price movement.

Alpha Natural (NYSE: ANR), an Appalachian coal producer, closed at $18.38 Friday. ANR February option implied volatility of 107 is near its 26-week average according to Track Data, suggesting non-directional price movement.

Peabody Energy (NYSE: BTU), a coal company, closed at $25.06 Friday. BTU is expected to report Q4 EPS in late January. January and February option implied volatility of 97 is above its 26-week average of 89, according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Options Update: Coal producers volatility flat; shares at low end of range originally appeared on BloggingStocks on Mon, 05 Jan 2009 09:30:00 EST. Please see our terms for use of feeds.

Whether it's a recession or an economic boom, one thing doesn't change, the need for energy. And until technology leaps ahead, coal is the largest producer of fuel for the generation of electricity in the world. It's also the most abundant fossil fuel in the United States. Coal is obviously not recession immune as people tighten the reigns on their lives and cut back on electricity consumption, but the shear necessity of electricity makes the coal industry fairly resistant. An investment in an exchange traded fund (ETF) that is centered on the coal industry is a great way to hedge your bets by investing in a pool of successful companies in the coal field.

Market Vectors Coal ETF (NYSE: KOL) seeks to replicate the price and yield performance of the Stowe Coal index, which provides exposure to publicly traded companies worldwide that derive greater than 50% of their revenues from the coal industry. With KOL you'll own shares of some of the most noted coal companies in the world, including Arch Coal Inc. (NYSE: ACI), which specializes in steam and metallurgical coal; CONSOL Energy Inc. (NYSE: CNX), a large provider of fuel for electricity in the United States; Alpha Natural Resources Inc. (NYSE: ANR), another leader in steam and metallurgical coal; and Peabody Energy Corp. (NYSE: BTU), an exploration miner and coal producer worldwide, as well as several other highly rated coal companies across the globe.

Market Vector charges only a 0.65% fee, a fraction what a professional money manager would charge you to analyze research and pick coal mining stocks with this level of global reach. Recently KOL has gone through a typical correction for this commodity sector, but then suffered a greater hit as Asia saw a 20% decline in spot prices for thermal coal. The result? A better deal for those currently willing to dive into coal as an investment. KOL is up 14%, so maybe there's some light at the end of the mine.

Continue reading Commodity ETF investing: Own 42 coal mining companies with KOL

Commodity ETF investing: Own 42 coal mining companies with KOL originally appeared on BloggingStocks on Sat, 22 Nov 2008 13:10:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Deutsche Bank upgraded Wachovia (NYSE: WB), citing valuation and recent capital actions.
  
• Bank of America upgraded American Electric Power (NYSE: AEP), citing the new Ohio rate structure which will provide steady growth.
  
• Merrill upgraded Consol Energy (NYSE: CNX) based on higher coal prices.

• Goldman upgraded the Integrated Oils sector based on risk/reward relative to oil prices. ConocoPhillips (NYSE: COP) is the firm's favorite pick.
  
• Affiliated Computer Services (NYSE: ACS) was upgraded to Buy from Neutral. Goldman expects Affiliated to do well in the current slower macro backdrop and views shares as relatively insulated to government cutbacks.

Analyst upgrades: WB, COP, ACS, AEP and CNX originally appeared on BloggingStocks on Tue, 29 Apr 2008 11:37:00 EST. Please see our terms for use of feeds.

"Green investing and clean energy may be the politically correct topic at cocktail parties, but coal is the economically correct vehicle for investors," says Ronald Rowland and Brandon Clay.

The editors of All Star Investor explain, "Coal has been an energy source for millennia -- and is still the number #1 source of energy for electric power plants in the world." And, they add, "One of the best places to invest in coal is Consol Energy (NYSE: CNX).

"Prehistoric Chinese are said to have used coal for heating. According to Roman historians, Britain burned coal in the first century. Throughout history, coal has been the primary source of heat in homes.

"Rapidly industrializing nations like China are still dependent upon coal for energy. Overall global consumption has not diminished either. Coal fuels 48% of electricity plant generators. And the trend is heading upward - probably for the next 30 years. Despite the deafening rhetoric, coal is not going away anytime soon. Investors should take notice.

Continue reading Consol Energy (CNX): Top play in coal

Consol Energy (CNX): Top play in coal originally appeared on BloggingStocks on Tue, 22 Apr 2008 14:30:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Goldman downgraded the coal sector to Cautious from Neutral, citing valuations and expectations for lower coal prices. The firm downgraded CONSOL Energy (NYSE: CNX) Peabody Energy (NYSE: BTU) to Neutral from Buy and Arch Coal (NYSE: ACI) to Sell from Neutral.
  
• Lehman downgraded independent refiners, including Alon USA Energy (NYSE: ALJ), to Negative from Neutral and continues to believe that 2H07 marked an inflection point for U.S. refiners, which are transitioning from a multiyear up-cycle into a new downtrend.
  
• Alexion Pharmaceuticals (NASDAQ: ALXN) was lowered to Market Perform from Outperform at Wachovia following the company's Q4 results, as they believe management's revenue guidance represents a best-case scenario.

• Lehman lowered Bayer (OTC: BAYRY) to Equal Weight from Overweight and Whole Foods (NASDAQ: WFMI) to Underweight from Equal Weight.

Analyst downgrades: Coal sector, independent refiners and ALXN originally appeared on BloggingStocks on Fri, 15 Feb 2008 10:52:00 EST. Please see our terms for use of feeds.

Consol Energy (NYSE: CNX) has two principle business units: Coal mining & methane gas. Energy legislation has been moving through Capitol Hill committees and is expected to be on the House Floor before year's end. CNX overall option implied volatility of 47 is above its 26-week average of 40 according to Track Data, suggesting larger risk.

Massey Energy (NYSE: MEE), the fourth-largest coal company in the U.S. based on produced coal revenue, closed at $34.32. Bear Stearns says, "MEE signs deal with Essar of India - Reaffirm Outperform rating." MEE overall option implied volatility of 51 is above its 26-week average of 47 according to Track Data, suggesting larger price fluctuations.

Daily Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Option update 11-30-07: Coal stocks rally with elevated volatility originally appeared on BloggingStocks on Fri, 30 Nov 2007 13:54:00 EST. Please see our terms for use of feeds.

Cramer's coal picks in the energy sector originally appeared on BloggingStocks on Mon, 18 Jun 2007 20:11:00 EST. Please see our terms for use of feeds.