Peabody (BTU) CEO Boyce Sees 120M Tons of U.S. Coal Exports in FY12, China Slowdown is 'Manageable'

Peabody Energy Corp. (NYSE: BTU) shares are moving higher Tuesday following comments from CEO Greg Boyce on today's conference call.

Boyce said:

• The slowing in China appears to be "manageable";
  
• Significant recovery in U.S. coal "not yet at hand";
  
• U.S. coal exports should be about 120 million tons in 2012;
  
• U.S. coal use should rebound in 2013; and
  
• He's cautious amid China and European economic slowdowns

Shares are 7.6 percent lower, but about 40 cents off of session lows.

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