This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Coal Stocks Fall As Natural Gas Prices Dip

NEW YORK (AP) â¿¿ Coal stocks fell Wednesday as the price of natural gas dropped below $4, making the coal rival an attractive option to fire more power plants.

It's not easy to retool a power plant from one fuel to another, but many plants have both coal and natural gas burners, making it possible to switch back and forth depending on relative prices of the two fuels.

Historically, natural gas has been more expensive than coal, so it tends to be used mostly to meet electricity demand during peak hours. But if gas prices keep falling, power generators could decide to increase their use of gas.

In trading on the New York Mercantile Exchange, natural gas fell 16.5 cents to $3.874 per 1,000 cubic feet.

Shares of Peabody Energy Corp. fell 98 cents, or 2.3 percent, to close at $42.23, after earlier dropping as low as $40.79. Shares of Massey Energy Corp. dropped $1.02, or 3.4 percent, to finish at $29.14; Arch Coal Inc. lost 43 cents, or 2 percent, to $21.98; Alpha Natural Resources Inc. fell 89 cents, or 2.4 percent, to close at $36.44; and Consol Energy Inc. dipped 61 cents to finish at $32.15.

Massey shares have continued to slide since the company disclosed earlier this week that it was cited by federal officials for improperly storing explosives in the West Virginia mine where 29 men died in an April explosion. The company has said there was no link between the explosives and the fatal accident.

Copyright 2010 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,701.42 +240.10 1.46%
S&P 500 1,953.98 +26.87 1.39%
NASDAQ 4,457.3340 +74.4870 1.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs