Amazon's new software has MDB investors scaredThe shares of MongoDB Inc (NASDAQ:MDB) are getting hammered today, after FAANG titan Amazon.com (AMZN) launched DocumentDB, its cloud-based database software. While MongoDB CEO Dev Ittycheria doesn't seem concerned about the competition, telling CNBC that "developers are savvy enough to distinguish between the real thing and a poor imitation," MDB opti...Read More
Corvus Gold (TSX: KOR; US-OTC: CORVF) has extended its Mother Lode gold deposit in Nevada to the north with five new step out holes it drilled as part of its phase three resource expansion program.The company has found that the project's mineralized zone thickens and grades increase north of the main resource, and as a result theorizes it may be approaching a new mineralization center. Highlights...Read More
GS, BAC, JPM and other financial stocks could moveEarnings from the financial sector will pour in next week, including from blue chips American Express (AXP), Goldman Sachs (GS), and JPMorgan Chase (JPM). FAANG stock Netflix (NFLX) and Dow stock UnitedHealth (UNH) could also move after earnings. Traders will also keep a close eye on Tuesday's producer price index (PPI), as well as retail sales and...Read More
Azeri state oil fund SOFAZ said on Thursday that it plans to increase the share of gold in its holdings to 10 percent this year from 5 percent at the end of 2018.SOFAZ, which has been buying gold since 2012, holds the former Soviet country's proceeds from oil contracts, oil and gas sales, transit fees and other revenue."During 2019, SOFAZ plans to purchase gold taking into account factors like the...Read More
Miner Anglo American Plc is betting on South America as its main growth area for base metals in the coming years, a top executive told Reuters.Ruben Fernandes, who heads Anglo's operations in Brazil and is slated to become its global head of base metals next March, said he wants to prepare the company for an expected boom in demand related to electric cars that is likely to fuel appetite for nicke...Read More
The shutdown enters its 20th day as Trump threatens to declare a national emergency The Dow Jones Industrial Average (DJI) was down triple digits earlier, as traders panned an onslaught of disappointing holiday sales reports from retailers. Plus, anxiety over a lack of details on U.S.-China trade talks also weighed on stocks early on, as did concerns over the ongoing government shutdown, as Presid...Read More
CHGG hit a record high earlier todayChegg Inc (NYSE:CHGG) has started the new year off on the right foot, having only closed lower in one of the last 10 trading days. Today, CHGG snagged a new record high of $32.99, last seen up 1% at $32.87. And if history is any guide, Chegg options traders may want to set their sights even higher in the coming months.Specifically, the stock's Schaeffer's Volat...Read More
Tanzanian President John Magufuli directed the minerals minister and central bank governor to buy some of the nation's gold for its reserves.The gold could be used to shore up the shilling when the currency Africa's fourth-biggest producer of the precious metal weakens, according to an emailed speech made on Wednesday."We should get to a point where we are reserving our gold, because gold is simil...Read More
Call buyers have been more active than usual in recent weeksYelp Inc (NYSE:YELP) stock is spiraling today, after Morgan Stanley downgraded the online review name to "underweight" from "equal weight," and cut its price target to $29 from $31 -- a nearly 20% discount to last night's close. At last check, YELP shares are down 6.6% to trade at $33.35, and bearish options trading is running hot.So far...Read More
Barrick Gold Corp.'s new chief executive is surprised by the "hysteria" over whether the world's largest gold miner will remain a Canadian company.Barely a week after his Channel Islands-based Randgold Resources Ltd. merged with Barrick, Mark Bristow says he's determined to keep the global miner headquartered in Toronto - or at least as committed as he is to any head office. "Mining industries hav...Read More
• The precious metal stalled its positive momentum, triggered by dovish FOMC meeting minutes and once again failed ahead of the key $1300 mark amid a modest USD rebound. • Given the overnight bullish break-though a short-term descending trend-line, now coinciding with 100-hour SMA, any meaningful retracement might be seen as a buying opportunity. &nb...Read More
WIX shares have gotten off to a strong start in 2019Website services provider Wix.com Ltd (NASDAQ:WIX) saw its price target raised to $130 from $123 at Wedbush, which added the stock to its best ideas list. This bull note comes as WIX shares try to move past their 50-day moving average after overcoming recent resistance from the 200-day moving average just last week. The security is up 0.5% so fa...Read More
Still, analysts remain wary of the home goods retailerThe shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) are up 4.2% at $12.78 in early trading, after the company announced a fiscal third-quarter earnings beat and stronger-than-expected full-year forecast. The company cited its heavily revamped stores and digital platform, as well as the success of its loyalty programs. However, several analysts r...Read More
Cowen and J.P. Morgan Securities cut their TWTR price targets, thoughThe shares of Twitter Inc (NYSE:TWTR) are up 3% to trade at $33.20 -- on pace for a fifth straight win -- after the social media stock received a double upgrade at BofA-Merrill Lynch. This echoes the optimism seen in the options pits, where speculators have been shown a growing appetite for bullish bets in recent weeks.Looking cl...Read More
The bullish outlook, which we laid out for silver in mid-November 2018 appears to be getting confirmed. The support level, which we suggested as a potential stop-loss level held firm. Silver unfolded the strongest rally throughout 2018 shortly after we submitted the last article with our bullish case for silver to FXStreet. Subsequently, the precious metal increased by 12% during an extremely chal...Read More
The airliner had shed 36% year-over-year coming into today The shares of American Airlines Group Inc (NASDAQ:AAL) are down 6.4% in electronic trading this morning and heading toward the bottom of the Nasdaq, after the airliner slashed its fourth-quarter unit revenue forecast to 1.5% from the previous 1.5%-3.5% estimate. This is the same metric that triggered a similar sell-off from sector peer De...Read More
Traders are waiting for more details on trade talks between the U.S. and ChinaDow Jones Industrial Average (DJI) futures are trading below fair value this morning, putting stocks' recent hot streak in danger. Wall Street is still mostly considering the same storylines that have swirled all week, namely U.S.-China trade relations and the ongoing government shutdown. On the data front, weekly jobles...Read More
Barrick Gold Corp.'s new boss intends to push ahead with plans to increase investment in the mineral-rich - but environmentally tricky - deposits straddling the Chile-Argentina border."If you want to find elephants, go to elephant country," Chief Executive Officer Mark Bristow, a South African geologist and big-game hunter, said in a phone interview. The Toronto-based company "absolutely" intends...Read More
• The USD continues to be weighed down by dovish FOMC meeting minutes. • Fading US-China trade optimism/risk-off mood provides an additional boost. • Investors now eye speeches by influential FOMC members for a fresh impetus. Gold prices edged higher on Thursday and moved back within striking distance of multi-month tops, closer...Read More
Getting in on this IPO could be the easiest way to turn a little bit of money into a lot of money very quickly.It's hard to imagine an IPO doing better than Tilray - the small pot stock that soared nearly 1,000% just weeks after going public.But one analyst may have uncovered a tiny IPO stock that's even better.In fact, the first thing this analyst strongly recommend is for investors to make the...Read More