Is it time to prepare for the next financial crisis?Something strange is going on in the financial system.And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.What exactly is going on?Former hedge fund manager, Dr. Steve Sjuggerud, one of the most widely-followed financial analys...Read More
Japan's Ministry of Economy, Trade and Industry has approved Irving Resources' (CSX: IRV) Otoineppu prospecting plan, which includes drilling, at its Omu Sinter prospect, part of its 100% owned Omu gold-silver project near Hokkaido, Japan.Irving will now submit a mine safety regulation permit to the Japanese government. The company meanwhile is trying to get work permits for a Canadian drill crew...Read More
The shares are trading at new lows after the iPhone maker slashed guidanceApple's (AAPL) cut revenue guidance is being felt across several sectors, weighing on iPhone retailers like Best Buy (BBY) and a slew of chipmakers. Among them, STMicroelectronics NV (NYSE:STM) stock is trading at new lows, and options traders are swarming the Swiss semiconductor maker today.At last check, STM shares were do...Read More
PTLA stock rallied more than 14% on Monday on a regulatory winThe shares of Portola Pharmaceuticals Inc (NASDAQ:PTLA) surged more than 14% on Monday, after the Food and Drug Administration (FDA) approved commercial production for the clinical stage biotech's manufacturing process for Anexxa, a universal bleeding reversal drug. It could be time to take profits on PTLA stock, though, considering it...Read More
Options traders also appear bullish on the stockThe sell-off in Apple (AAPL) stock is the talk of Wall Street today, and the pain is especially real for a number of the tech giant's suppliers. But while many investors are distancing themselves from this part of the market, we noticed one Apple partner that multiple analysts have already come to support of: optical networking specialist Lumentum Ho...Read More
Private payrolls rose by 271,000 in December, smashing Reuters estimates of 178,000, according to an ADP/Moody's report.The gain was the highest since February 2017 and brought the monthly average for 2018 to 203,000.The report comes amid worries that the U.S. economy is slowing.Jeff Cox| @JeffCoxCNBCcomPublished 12 Hours AgoUpdated11 Hours AgoCNBC.com show chapters ADP December payrolls up 271...Read More
Etsy just ran into a historically bullish trendline The shares of Etsy Inc (NASDAQ:ETSY) notched a record high of $58.30 in early December, and while the broader stock market languished, ETSY shares finished 2018 with a gain of nearly 133%. Since that high, though, the e-commerce concern has pulled back to a key trendline -- a signal that, if history is any indicator, could mean another big rally...Read More
Mining companies operating in Zambia have failed to show how higher taxes introduced this year will affect their profitability despite objecting to the new framework, a senior government official said on Thursday.The country, Africa's second-largest copper producer, increased its sliding scale for royalties of 4 to 6 percent by 1.5 percentage points from Jan. 1 and introduced a new 10 percent tax...Read More
Detour Gold said on Thursday it has picked Paulson & Co-backed nominee Bill Williams to be its interim chief executive officer, replacing Michael Kenyon.The Canadian gold miner was previously involved in a months-long proxy fight with billionaire John Paulson's hedge fund, which pushed for a complete overhaul of the board and Kenyon's resignation.Williams is a mining industry veteran and was a for...Read More
The shares just pulled back to a trendline with bullish implicationsMicrosoft Corporation (NASDAQ:MSFT) was not exempt from the broad market sell-off last quarter, shedding 11.2%, its worst since March 2015. However, as the saying goes, "new year, new me," and that pullback could be a buying opportunity for the Dow name, if recent history is any indicator.Specifically, MSFT has retreated to its 3...Read More
The S&P and Nasdaq are much lower at midday, tooThe Dow Jones Industrial Average (DJI) fell 169 points out of the gate, and the losses have only accumulated. At last check, the blue-chip index was down almost 500 points, sinking back below the 23,000 mark, with a negative reaction to Apple's (AAPL) weak revenue forecast sparking the risk-off backdrop. A weaker-than-expected Institute for Supply Ma...Read More
The brokerage tapped Kinder Morgan as its top pipeline pick, thoughGoldman Sachs chimed in on pipeline stocks today, pegging Kinder Morgan Inc (NYSE:KMI) as its top pick in the sector. However, the brokerage firm downgraded Buckeye Partners, L.P. (NYSE:BPL) and TransCanada Corporation (NYSE:TRP) to "sell" from "neutral," citing valuation concerns for both energy stocks.Buckeye Partners Stock at Ri...Read More
The iPhone retailer's stock is down after Apple lowered sales guidanceBest Buy Co Inc (NYSE:BBY) is just one of many companies caught in Apple's (AAPL) crosshairs this morning, after the tech giant lowered its quarterly revenue guidance on slipping iPhone sales in China. As a major retailer of Apple products, Best Buy shares are now down 4.4% at $51.26, and UBS just cut its price target on BBY to...Read More
Analysts at Canaccord Genuity still have a "buy" rating on FB stock, thoughBrokerage firm Canaccord Genuity this morning released a note discussing U.S. digital advertising, saying it has a positive view on the industry over the next four years. However, it wasn't all upbeat attention for the names mentioned in the note, including Facebook, Inc. (NASDAQ:FB), Twitter Inc (NYSE:TWTR), and Snap Inc (...Read More
AAPL is fresh off its worst quarter since 2008The shares of Apple Inc. (NASDAQ:AAPL) are down 9.3% to trade at $143.30 -- fresh off an 18-month low of $143.19 -- after the company cut its revenue forecast for the holiday quarter to $84 billion from a previous range of $89 billion to $93 billion last night -- below the consensus estimate of $88.05 billion. CEO Tim Cook citedtrade tensions between...Read More
AAPL shares are down 8% in pre-market tradingDow Jones Industrial Average (DJI) futures are trading below fair value, as Wall Street prepares for sharp losses from blue-chip tech giant Apple (AAPL). The company yesterday lowered its quarterly sales forecast due to weak iPhone demand in China -- adding to concerns about a slowdown in the global economy. As such, a handful of Apple suppliers are als...Read More
December's cheer is carrying into 2019 for gold-mining companies.A gauge of mining shares is extending gains after its best December since the financial crisis as investors flee to haven assets amid a slump in the broader equities market and a U.S government shutdown. The BI Global Senior Gold Valuation Peers jumped as much as 1.6 percent Thursday to the highest since May, with bullion set for a s...Read More
Egypt-focused gold miner Centamin (LON:CEY) (TSX:CEE) began the year with some key board changes by announcing Josef El-Raghy had moved from executive chairman to chairman, 16 years after becoming managing director.The company, which closed 2018 with disappointing news related to its Sukari gold mine in Egypt, said El-Raghy will remain on the board while the search for a successor continues.The E...Read More
Barrick Gold Corp.'s new chief executive officer has a message for the gold industry: This is just the start of a big shake-up.Barrick agreed to buy smaller rival Randgold Resources Ltd. in a $5.4 billion deal announced in September. As part of the agreement, Randgold's CEO, Mark Bristow, became the chief executive of Barrick, the world's biggest gold miner."Without a doubt, this industry needs tr...Read More
How you can transform lagging indicators into leading indicators.With the market action of the last few weeks, some traders may feel like they're working blind -- after all, who knows what the Dow will do next? With bulls and bears butting heads in their predictions, many investors are looking for a way to try and predict what's to come, to avoid losing any of their capital to sudden corrections a...Read More