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Energy and Utilities Rebound Following Obama's Remarks

  +Follow June 25, 2013 3:40PM
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Obama 2President Obama has taken tough actions against carbon emitting, going as far as to declare “war on coal.” Obama will be using a presidential memorandum to sidestep Congress and begin immediately enacting his plan, which aims to cut coal production, reduce carbon emissions, and inject $8 billion into renewable energy resources.

Obama's case was further bolstered when the Supreme Court agreed to hear a case that would bolster the Environmental Protection Agency's (EPA) ability to curb carbon emmissions from power plants.

Energy and utility companies fought this plan tooth and nail. While the plan still has a long way to go before implementation, investors were initially skittish on energy. The S&P 500 Energy Index lost 3.84 percent of its value last month.

Yet energy stocks, after suffering in preparation of the remarks, have actually seen a recent modest gain. Investors seem confident in energy and utilities to weather tighter restrictions and the move away from coal.

That is, should those changes even happen. Obama is utlizing executive branch powers to try to push the plan through quickly, and the plan is sure to be met with much resistance as it moves forward. And not just by energy companies, but by states that have hsitorically relied on coal as a major component of their economy. West Virginia Attorney General Patrick Morrissey, a Republican, said "This president's unprecedented use of the Environmental Protection Agency to enact overreaching regulations and circumvent state primacy has prompted our fellow Republican attorneys general to fight back at full force, and we plan to continue."

Coal company Peabody Energy (BTU) had dropped 17 percent since June 15. But Peabody has regained 1.68 percent to hit $15.10 a share.

Walter Energy (WLT), following a dip last week on the environmental news and word that the company wouldn’t refinance, rebounded and posted a big gain, rising 7.03 percent to hit $11.35 a share.

Utilities that fought the changes the hardest also bounced back. After experiencing a slide of almost 20 percent of its value over the last month, AES Corporation (AES) gained 2.63 percent to hit $11.71 a share. Southern Company (SO) had lost 10 percent since May and posted 1.72 percent gain to hit $43.68.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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26 Nov 14 12:00:47
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PennyStocker
26 Nov 14 11:38:59
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26 Nov 14 11:33:53
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26 Nov 14 11:19:42
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26 Nov 14 10:31:40
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26 Nov 14 09:41:43
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26 Nov 14 09:19:42
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leahanne
26 Nov 14 08:54:19
Volume Alert - BTU 11.01 Peabody Energy Corp $BTU Hit a high today of 11.05 Closing the day 10:30 at 11.01 +0. http://t.co/M9FOWUPKSk
leahanne
26 Nov 14 08:53:57
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PennyStocker
26 Nov 14 08:40:57
$ELED is breaking out of bullish flag pattern today. Could be a big couple days here. $BRCM $JBLU $ATVI $BTU
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26 Nov 14 08:16:51
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26 Nov 14 08:01:35
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26 Nov 14 07:52:12
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26 Nov 14 07:40:31
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naomihn2000
26 Nov 14 07:27:27
@gene70 thats not what the environmentalist r saying. fracking better for environment than drilling n coal. $RIG $SPY $SPX $SDRL $CLF $BTU
PennyStocker
26 Nov 14 07:27:06
$ELED is breaking out of bullish flag pattern today. Could be a big couple days here. $BRCM $JBLU $ATVI $BTU
Nicky Stokes
26 Nov 14 07:10:04
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26 Nov 14 07:05:17
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naomihn2000
26 Nov 14 07:00:56
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naomihn2000
26 Nov 14 06:55:08
very high probability $RIG will need to cut dividend as well. $SDRL is a better co than $RIG. $SPY $SPX $CLF $BTU
naomihn2000
26 Nov 14 06:53:55
$SDRL $RIG can drill a grave for #icahn n followers because that's what going to happen might as well place $BTU $CLF in there too $SPY $SPX
naomihn2000
26 Nov 14 06:52:37
what will #icahn do when $WTI hits $60? $SDRL $RIG r in deep water. well they specialize in deep water drilling :-) $SPY $SPX $BTU $CLF.
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26 Nov 14 06:52:11
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naomihn2000
26 Nov 14 06:50:57
oh dear... $RIG $SDRL getting crush. great for me cause i am short :-) at least $SPY $SPX is not moving up too much today...YIPPEE $BTU $CLF
Hae Foy
26 Nov 14 06:49:17
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naomihn2000
26 Nov 14 06:43:05
added more short to $AAPL. i will cover if it goes up $.50+. $SPX $SPY $RIG $BTU $CLF
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26 Nov 14 06:40:19
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naomihn2000
26 Nov 14 06:39:41
like i said, $RIG breaking $25, its game over. $SDRL $SPY $SPX $BTU $CLF. waiting for $BTU to go below $10..matter of time
naomihn2000
26 Nov 14 06:38:33
what will #icahn do with $RIG he should buy $RIG when it hits $14. but i would rather buy $SDRL, its a better co. $SPY $SPX $BTU $CLF
naomihn2000
26 Nov 14 06:35:09
its game over for $RIG. how's that dividend working out #icahn? $RIG is in deep water. at least $SDRL is suspends dividend. $BTU $CLF $SPX
naomihn2000
26 Nov 14 06:33:28
if $SDRL can go down $3 $RIG will soon follow. will be down at least $1 by end of day $BTU $CLF $SPY $SPX $AAPL
naomihn2000
26 Nov 14 06:32:18
$SDRL $RIG winning...YIPPEE!! $SPY $SPX $CLF $BTU $AAPL
naomihn2000
26 Nov 14 06:28:55
but if u r short $RIG $SDRL $BTU $CLF...WINNING!! $SPX $SPY $AAPL
naomihn2000
26 Nov 14 06:28:15
IMHO, $RIG is in deeper water than $SDRL thx to #icahn with the dividend increase....trouble!! $CLF $BTU $SPY $SPX
PennyStocker
26 Nov 14 06:28:09
$ELED is breaking out of bullish flag pattern today. Could be a big couple days here. $BRCM $ATVI $BTU
naomihn2000
26 Nov 14 06:25:24
i would be in a world of trouble if i didnt hedge short $WTI via $SDRL $CLF $BTU $RIG. $SPY #SPX short so wrong n it hurts. im ok thx to oil
PennyStocker
26 Nov 14 06:18:48
Wowser $ELED in breakout mode. Going long on the 8k news. $BRCM $JBLU $ATVI $BTU
Alessandro
26 Nov 14 06:14:36
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Seeking Alpha
26 Nov 14 06:14:09
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naomihn2000
26 Nov 14 06:10:15
@dave_meadows i am so so wrong on $SPY $SPX short n it hurts but im hedge $WTI $OIL $RIG $SDRL $BTU $CLF. a matter of time for $BTU to $3
naomihn2000
26 Nov 14 06:08:47
@dave_meadows i dont have many $AAPL short since i am heavily short $WTI via $SDRL $CLF $BTU $RIG n i am very short $SPY $SPX.
Rosaline Bonilla
26 Nov 14 06:06:17
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naomihn2000
26 Nov 14 06:00:22
if i can only get $SPY $SPX to go down i would be financially well off thx to short $WTI $OIL via $SDRL $RIG $BTU $CLF. Still short $AAPL
				
				
  +Follow June 25, 2013 3:40PM
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