Piper Jaffray initiated coverage on WORK stock with an "outperform" ratingSlack Technologies Inc (NYSE:WORK) stock is up 4.9% to trade at $22.51, after Piper Jaffray initiated coverage with an "overweight" rating, and a $30 price target -- a nearly 40% premium to last night's close. The analyst in coverage waxed optimistic over the company's workforce software, and said the stock's recent sell-off...Read More
Amazon said it will offer free grocery delivery to U.S. Prime membersStrong earnings from a pair of big-cap pharmaceutical firms is keeping the S&P 500 Index (SPX) above water today, though gains are modest due to a negative reaction to Alphabet's (GOOGL) quarterly results. Not all stocks are moving on earnings today, though, with grocery names Kroger Co (NYSE:KR), BJs Wholesale Club Holdings Inc...Read More
An internal study shows Applied Materials stock could keep gainingIt's been an interesting few months for Applied Materials, Inc. (NASDAQ:AMAT). The shares moved lower in mid-August after the company's outlook spooked investors, only to make up those losses and then some in the subsequent weeks, including their 12% gain in October so far, sparked in part by strong quarterly numbers from rival Lam...Read More
The best and worst stocks, historically, also sport attractively priced optionsThe S&P 500 Index (SPX) has had a banner October, pacing for a 2.1% monthly gain and fresh off an all-time high. Looking ahead to November, several stocks could extend the positive momentum, if history is any indicator, including travel concern Alaska Air Group, Inc. (NYSE:ALK). On the flip side, red-hot real estate inv...Read More
Just one analyst recommends buying the stock, making it ripe for upgradesHomebuilding stocks have been one of the strongest groups in 2019, and Toll Brothers Inc (NYSE:TOL) has been no exception. The shares are up more than 24% in 2019, holding near annual-high territory, yet the sentiment picture remains extremely bearish -- setting up an ideal situation for contrarian bulls.The easiest place to...Read More
A historically bearish signal has flashed for X, just ahead of its third-quarter earnings reportThe shares of United States Steel Corporation (NYSE:X) are edging back down towards their three-year lows at the $10 level, off 1.2% at $12.12 at last check, after the stock's 100-day moving average thwarted its latest attempt at a rally. This puts X at a 32.9% year-to-date deficit, just ahead of its th...Read More
MRK and PFE are propping up the Dow todayThe Dow Jones Industrial Average (DJI) is slowly climbing at midday, as Wall Street weighs the latest batch of corporate reports and economic data. The blue-chip index is shaking off an October dip in consumer confidence, and is instead being propped up by encouraging earnings reports from pharmaceutical giants Pfizer (PFE) and Merck (MRK). The S&P 500 I...Read More
It's a busy week for FAANG earningsIt's the thick of earnings season, and FAANG stocks will be in focus this week. In today's trading, Wall Street is reacting to Alphabet's (GOOGL) earnings report. Looking ahead, Apple (AAPL) and Facebook, Inc. (NASDAQ:FB) are scheduled to tell all in the earnings confessional after the market closes tomorrow, Oct. 30, and the options market is pricing in a bigger...Read More
Short-term traders were very put-heavyXerox Holdings Corp (NYSE:XRX) is gaining 15% this morning to trade at $35.41, thanks to the company's third-quarter earnings beat and upwardly revised full-year profit outlook. This price action has XRX stock jumping above the 200-day moving average and testing the site of the July earnings bear gap. Xerox had moved lower following the last two earnings relea...Read More
The faux meat maker's lock-up period expiredIt was Beyond Meat Inc's (NASDAQ:BYND) third time stepping into the earnings confessional as a public company, and the stock is experiencing a steep sell-off in the wake of the results. While the plant-based burger name posted a third-quarter profit of 6 cents per share on $91.96 million in revenue -- both of which exceeded analysts' estimates -- and l...Read More
Analysts have been quick to chime in after GRUB earningsGrubHub Inc (NYSE:GRUB) reported third-quarter adjusted earnings of 27 cents per share -- in line with the consensus estimate -- on $322 million in revenue, well below the $330.5 million analysts were expecting. The company also gave lower-than-anticipated current-quarter guidance amid rising competition in the food delivery space. In a lette...Read More
U.S. stock futures are trading just below fair valueWith earnings dominating the headlines again, Dow Jones Industrial Average (DJI) futures are trading below fair value this morning. Futures on the S&P 500 Index (SPX) are also pointing to a lower open for stocks, as the broad-market index looks set to cool after yesterday's record high. Alphabet's (GOOGL) poorly received earnings update is one re...Read More
SBUX's recent pullback has found supportAt least one analyst is expecting big things from Starbucks Corporation (NASDAQ:SBUX) in the earnings confessional this week. The coffee chain is set to report third-quarter results after the close tomorrow, Oct. 30, and KeyBanc envisions strong same-store sales growth of 5%, above the consensus view of 4.5% growth. The analyst also does not think the U.S.-C...Read More
Traders are dumping capital into the 2x VIX futures tracker as fast as TVIX can burn it upEveryone loves a good underdog story, and Wall Street investors are of course no exception -- but in the case of the VelocityShares Daily 2x VIX Short-Term ETN (NASDAQ:TVIX), some traders are simply taking this trope too far.The exchange-traded note (ETN) is one of those leveraged volatility products that you...Read More
Jack ChanPosted Oct 28, 2019Gold sector as represented by $HUI is on a long-term BUY signal.Long-term signals can last for months and are more suitable for investors.Gold sector as represented by $HUI is on a short-term buy signal.Short-term signals can last for weeks and are more suitable for traders.Speculative liquidation continues.Speculative liquidation may have ended.Our ratio has a text boo...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comOct 29, 2019 The GOAU ETF continues to showcase the most impressive technical action in the entire precious metals ETF sector. Please click here now. Double-click to enlarge.A bull wedge breakout with a pickup in volume is in play. Gold has been reacting negatively ahead of recent FOMC mee...Read More
Clint Siegner Americans hated it when the Federal Reserve handed trillions of dollars to crooked Wall Street banks following the 2008 Financial Crisis. Politicians were confronted about the merits of central banking and bailouts.For the first time in history, college students were chanting "End the Fed" at campaign rallies as Ron Paul took the central bank to task during his presidential campaig...Read More
By: Robert LambourneThe Bank for International Settlements has just published its statement of account for September and it indicates that the bank continues to trade gold swaps. The BIS uses gold swaps and other gold derivatives to gain access to gold held by commercial banks. But recent swaps remain at much-reduced levels compared to the second half of 2018.There is not enough information in t...Read More
Stewart Thomson 1. The GOAU ETF continues to showcase the most impressive technical action in the entire precious metals ETF sector.2. Please click here now. Double-click to enlarge. A bull wedge breakout with a pickup in volume is in play.3. Gold has been reacting negatively ahead of recent FOMC meetings, and that's the case this week.4. The pullb...Read More