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Reuters reported that coal miner Peabody Energy Corp announced that it is reducing capital spending due to a likelihood of weak earnings in Q1, brought on by a dip in sales and in prices.
Reuters reported that coal miner Peabody Energy Corp announced that it is reducing capital spending due to a likelihood of weak earnings in Q1, brought on by a dip in sales and in prices.
As quoted in the market report:
People expected a bad first quarter. but the fact that capital expenditures have comes down so dramatically means they will have free cash flow,” said Iberia Capital Partners analyst David Beard