Electric utility firm Southern Co. (SO) reported modestly better-than-expected third quarter results, driven by lower expenses and increased monthly service charges. Earnings per share came in at 99 cents, edging past the Zacks Consensus Estimate by a penny.  In the year-ago period, Southern earned $1.01 per share. The year-over-year negative comparison can be attributed to decrease in electricity usage and sales and flat customer growth. Revenues for the quarter were $4.7 billion, a decrease of nearly 14% from the corresponding period last year.  Another Challenging Quarter  It was another difficult quarter for Southern, as it continued to be adversely affected by significantly cooler than average weather and a weak economy. This resulted in a decrease in electricity sales across all categories. Total electricity sales during the third quarter were down 6.1% from the same period last year.  Total retail sales declined by 5.1%, reflecting soft

The fate of the global equity market rally now comes down to China. Will it continue to stockpile hard assets? Will the data points continue to soothe and impress? Much is at stake either way…  

If you grew up in the United States, you know that English literature is one of those subjects they foist upon you in 10th grade or so. I recall very little from English Lit 101. Most of the stories and poems we read (or pretended to read) have become a hazy blur.

But after all these years, one poem still stands out. Due to its oddness and simplicity, I have never forgotten it. The poem is “Red Wheelbarrow” by William Carlos Williams, and it goes like this:

so much depends

upon

a red wheel

barrow

glazed with rain

water

beside the white

chickens.

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For the next 6 months, stocks in the coal industry will most likely meander around current levels until investors get a better sense of the health of the global economy. The status of the housing, credit and job markets will directly and indirectly dictate the medium-term outlook for coal miners and the commodity. The problems associated with the deterioration of the U.S. economy have trickled through the rest of the world, and what have been particularly worrisome are the effects on China and India. In recent years, these two countries have been experiencing rapid growth and their consumption of coal has followed suit, giving support to global prices. However, as exports make up roughly 40% of China's GDP, the global slowdown has decreased China's demand for electricity, iron ore and coking coal. This has put downward pressure on coal prices and producers alike. While we have