One little-known company already has the key to efficient, high-quality, low-cost cannabis production.Cannabis 2.0 is coming.And it's going to be huge. With huge margins and international attention...The cannabis sector is poised to explode. Some analysts are predicting that the industry will reach $500 billion. With stakes that high, only the most efficient and competitive cannabis players will...Read More
Gold prices climbed on Wednesday, holding ground at their highest finish since July, then pulled back in the wake of the Federal Reserve's decision to lift a key interest rate, as had been expected. The Federal Reserve on Wednesday, after gold futures settled, said it decided to hike its target for the federal-funds rate by a quarter point to a range between 2.25% and 2.5%. The central bank also s...Read More
Bloomberg said GE has filed IPO papers for its healthcare unitThe shares of General Electric Company (NYSE:GE) are trading up 7.1% today at $7.79, after Bloomberg reported the company has filed confidentially for an initial public offering (IPO) of its healthcare unit. Plus, GE stock was upgraded for the second time in the past week -- with Vertical Research Partners lifting its rating to "buy" --...Read More
The healthcare concern is pulling textured breast implants from European marketsThe shares of Allergan plc (NYSE:AGN) are getting crushed today, after the company pulled its textured breast implants from the market in Europe. Late yesterday, France's regulatory body issued a recall request for the implants, saying they've been linked to a rare type of cancer. There is no evidence that women who ha...Read More
The retailer will report earnings after tomorrow's closeIt's been a volatile stretch for Nike Inc (NYSE:NKE) stock, per its 60-day historical volatility of 30.4% -- in the 100th annual percentile. The options market is expecting even more volatility for NKE shares after the athletic apparel retailer reports earnings after the market closes tomorrow, Dec. 20.Specifically, Trade-Alert places the imp...Read More
JOHANNESBURG - A South African union has filed an appeal to overturn a mining deal in which Sibanye-Stillwater intends to acquire rival Lonmin , Sibanye said on Wednesday.The Association of Mineworkers and Construction Union (AMCU), protesting to job cuts related to the deal, launched an appeal with the Competition Appeals Court. The union's action comes almost a month after the Competition Tribun...Read More
Preliminary results from a bulk sample taken at its Windfall Lake deposit in Quebec delivered an average head grade of 9.7 grams gold per tonne and 5.5 grams silver per tonne, Osisko Mining (TSX: OSK) reports.The sample head grade from Zone 27 is 39% higher than indicated in the resource block model for the area, a "strong result" and "an early Christmas gift to our shareholders," John Burzynski,...Read More
Both drug stocks have pulled back from multi-year highs Despite today's gains, the healthcare sector has been under pressure lately amid the recent Obamacare court ruling. If history is any guide though, there could be clear skies ahead for blue chip Merck & Co., Inc. (NYSE:MRK) and cardiovascular disease specialist Amarin Corporation (NASDAQ:AMRN), both of which are flashing the same bullish s...Read More
It all started so well in 2018 for investors in European metal and mining stocks, as copper led a base-metals rally to multi-year highs in a time before trade turmoil gripped markets. But, as the year closes, the sector index is languishing about 25 percent below its June peak.Fractious rhetoric between Washington and Beijing over tariffs, plus growing worries about the state of China's economy un...Read More
The Dow is eyeing a second straight win at middayThe Dow Jones Industrial Average (DJI) is gaining for the second straight day, as Caterpillar (CAT) pops on the latest trade news. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are higher, as well, though today's gains are coming amid low trading volume, with traders taking a wait-and-see approach before the Fed's policy decision this afternoo...Read More
The company's 2019 forecast exceeded expectationsShares of Eli Lilly and Co (NYSE:LLY) are up 3.2% to trade at $109.85, after the company issued 2019 guidance above analyst expectations. The pharmaceutical giant cited high demand for some of its newer medicines, and lifted its quarterly dividend by 15%. LLY stock has remained relatively strong amid the broader stock market correction. The shares t...Read More
A pair of retail stocks could suffer after the Fed statementDespite public pleading from President Donald Trump and recent dovish commentary from Fed Chair Jerome Powell and company, the Fed is widely expected to announce another rate hike this afternoon. Since the current tightening cycle began in 2015, rate hikes have preceded weaker-than-usual price action for the broader S&P 500 Index (SPX). W...Read More
Morgan Stanley said the bottom still isn't in sight for the chip sectorAs Wall Street digests a post-earnings slide from Micron Technology (MU), other chip stocks are in focus, as well. This follows a note out of Morgan Stanley that urged investors to "stay cautious" on the semiconductor industry, with the firm calling out weakness from almost all key markets, on top of valuations it still sees as...Read More
ReutersFederal Reserve Chairman Jerome Powell delivers the semi-annual Monetary Policy Report to the House Financial Services Committee. When Federal Reserve Chairman Jerome Powell says the central bank is data dependent, a fair question to ask is, what data? Looking at the minutes from previous Federal Open Market Committee decisions - and from the economic review the staff makes in particular -...Read More
UAA stock is lower after the bear noteJ.P. Morgan Securities cut its price target on Under Armour Inc (NYSE:UAA)to $21 from $25, though this is still an 11.6% premium to last night's close. In reaction, UAA stock is down 1.2% to trade at $18.58, but finding support near its 320-day moving average, which served as a floor in late October, too.The pullback to this trendline could signal a short-term...Read More
Mnuchin said the U.S. and China will begin face-to-face negotiations in JanuaryIt's set to be another positive session on Wall Street today, with Dow Jones Industrial Average (DJI) futures trading above fair value this morning. Traders are reacting to new U.S.-China trade headlines, with Treasury Secretary Steven Mnuchin telling Bloomberg News that the two countries will meet next month to restart...Read More
There is ample room for a further shift in sentiment toward MUThe shares of Micron Technology, Inc. (NASDAQ:MU) are down 8.5% in electronic trading after the chipmaker's quarterly report. Micron revealed weaker-than-expected sales for its fiscal first-quarter, but more importantly gave a cautious outlook for 2019, with CEO Sanjay Mehrotra citing weak industry trends. In response, Needham and RBC d...Read More
AngloGold Ashanti Ltd. is considering listing its shares in either London or Toronto in a move that could see the company hive off its remaining South African operations, according to people familiar with the situation.While no final decision has been made, the world's third-largest gold producer has been discussing the plan internally and with advisers, said the people, who asked not to be identi...Read More
Scotgold Resources (LON: SGZ), the company aiming at opening Scotland's first commercial gold and silver mine, said Wednesday that it was ready is to start rock-breaking in the new year after receiving the green light.The company, which completed 19 permitting conditions and other related obligations for its Cononish project, near Tyndrum, said the Loch Lomond and the Trossachs National Park Pla...Read More
How the S&P 500 has historically performed over the next two holiday weeks Before the month started, I had an article showing the typical December returns over different time frames. The chart is below with the current December return. It completely distorts the axis but it's clear that things have not gone as expected. It's the worst start to December since 1931, which was early in the Great Depr...Read More