Peabody Cuts Capital Spending

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

To view the whole Reuters report, click here.