SYMC put options are seeing heavy trading todayEarlier this month, Symantec Corporation (NASDAQ:SYMC) stock was buzzing amid rumors of a potential buyout from semiconductor concern Broadcom (AVGO). Those talks have apparently fizzled today, with CNBC reporting negotiations hitting a snag over Symantec's share price of $28. In response, SYMC is down 15.5% to trade at $21.67, on track for its worst...Read More
The signal also sounded in March 2009The S&P 500 Index (SPX) has been assailingall-time highs, soaring above the round-number 3,000 level for the first time ever last week. However, retail investors have been hesitant to adopt a bullish stance, as evidenced by the latest American Association of Individual Investors (AAII) sentiment poll. In fact, AAII data just triggered a sentiment signal not see...Read More
MSFT is seeing some interesting options activity ahead of earningsMicrosoft Corporation (NASDAQ:MSFT) topped out at a record high of $139.54 earlier, and while it was last seen 0.1% lower at $138.74, the software giant is still holding above the one-trillion-dollar market cap level. MSFT will stay in focus this week, with earnings due after the close this Thursday, July 18, and while call options...Read More
The big-cap pharma name will report earnings bright and early tomorrow morningJohnson & Johnson (NYSE:JNJ) and the state of Oklahoma are set to wrap up a trial today in a case that accused the pharmaceutical firm of being a "kingpin" in the opioid epidemic by downplaying the addictive risks of painkillers. The company's legal troubles are far from over, however, with Bloomberg reporting last week...Read More
Macy's stock has been seeing long-term pressure at its 70-day moving averageShares of retail giant Macy's Inc (NYSE:M) are modestly higher this afternoon, last seen up 0.5%, at $22.02. Despite today's lift, the security has struggled on the charts long term, steadily falling since touching an annual high of $41.99 last August. Just over a week off its most recent annual low, the shares have shed...Read More
Multiple bear notes have hit the healthcare sector todayMultiple brokerage firms have just made big calls for the healthcare sector. Three names hit with the equivalent of a "sell" rating today are lab equipment specialist Mettler-Toledo International Inc. (NYSE:MTD), diagnostics services provider Quest Diagnostics Inc (NYSE:DGX), and drugmaker Teva Pharmaceutical Industries Ltd (NYSE:TEVA). Barc...Read More
The Nasdaq, however, is clinging to gainsThe Dow Jones Industrial Average (DJI) is hovering just below breakeven at midday,pulling back from an all-time peak, as the blue-chip index's fourth straight win appears in jeopardy. The S&P 500 Index (SPX) is also in the red, and its five-day streak is in danger, despite touching a fresh intraday record high at the open.A post-earnings reversal lower for...Read More
Citi says to quit buying these retail stocksThe shares of Tiffany & Co. (NYSE:TIF) and L Brands Inc (NYSE:LB) are trading in the red this morning due to bearish analyst attention at Citigroup. Let's take a quick look at the bear note and how TIF and LB stocks are trading. For TIF, Citi downgraded its opinion to "neutral" from "buy" and cut its price target to $100 from $115. The brokerage firm sai...Read More
ACB was oversold heading into todayOne trading day removed from a nasty bear gap, Aurora Cannabis Inc (NYSE:ACB) is attempting a rebound this morning, last seen up 2% to trade at $6.93. This overdue lift comes after the weed company inked growing operations licenses from Health Canada for two outdoor cultivation sites. Aurora Cannabis stock is fresh off its worst week of 2019. The $7 level, an a...Read More
Avrobio's gene therapy drug proved successful in clinical trialsThe shares of Avrobio Inc (NASDAQ:AVRO) are popping today after the drugmaker announced positive data from its clinical trials of its investigational gene therapy drug AVR-RD-01 in patients with Fabry Disease, as well as an 87% substrate reduction in its first post-treatment kidney biopsy. AVRO is up 7.1% at $15.29 in response.Since s...Read More
Amazon's annual sales event kicked off this morningShares of e-tail powerhouse Amazon.com, Inc. (NASDAQ:AMZN) are inching their way higher this morning, last seen up 0.3% at $2,016.94, as the company's annual Prime Day event kicks off. While the 48-hour sale for Amazon's Prime members is attracting its usual bout of attention, the FAANG stock is catching the eye of analysts.Specifically, Loop Cap...Read More
General Electric shares have rallied 62% since mid-DecemberUBS downgraded General Electric Company (NYSE:GE) stock to "neutral" from "buy," and dropped its price target to $11.50 from $13, saying it's "taking a breather after recent stock outperformance." The brokerage firm noted, however, that it "can start to look increasingly at the [company's] multi-year turnaround/transformation."This follows...Read More
Other bank stocks are enjoying a halo lift Dow Jones Industrial Average (DJI) futures are pointing to yet another record high, and a fourth straight day in the black, as traders digest the first of many bank earnings this week. Specifically, Citigroup (C) posted impressive earnings and revenue for the second quarter, lifting fellow financial stocks Goldman Sachs (GS) and JPMorgan Chase (JPM). The...Read More
Treasury yields haven't done this since 2006 -- until now"Though there are only two samples to work with, history has taught us that big short-term directional moves have occurred shortly after a first touch of a new millennium level, as is evidenced by the 17% advance just five months after the first touch of 1,000, or the 9% pullback only one month after the first close above 2,000."-- Monday Mo...Read More
What is an alkaline-related gold system? How to tell it apart from other auriferous mineralizations? Why is it important?Below, I present a brief introduction of the alkaline gold system, highlighting its salient characteristics.In picking gold mining stocks, investors should recognize the implications of potential occurrence of alkaline-related gold mineralization.Image credit Alkaline-related ep...Read More
Barrick Gold Corp. GOLD, -1.41% said Monday that the World Bank International Center for Settlement of Investment Disputes has awarded $5.84 billion in damages to Tethyan Copper Company Pty Ltd., a joint venture held equally by Barrick and Antofagasta PLC (ANTO.LN), in relation to the arbitration claims filed against Pakistan following the denial of a mining lease for the Reko Diq project in Pakis...Read More
Over 150 years of research exists with respect to manipulation of American commodities markets. This is not a new phenomenon.Research shows that excessive short or long positions in commodities futures abnormally affect their market prices, similar to the stock and bond markets.Research also shows that excessive short future positions covering amounts beyond typical production lower commodity pric...Read More
* Greece to issue seven-year bond "in the near future" * Bankers say it aims to raise about 2 bln euros * Greece could open books on Tuesday, the earliest - sources (Adds details)By Lefteris PapadimasATHENS, July 15 (Reuters) - Greece plans to issue aseven-year bond"in the near future", authorities said onMonday, hoping to take advantage of record- low borrowing costs.The marke...Read More
* GRAPHIC-2019 asset returns:* Speculators raise net short positions * Nickel prices touch highest since March (Updates with closing prices)By Pratima DesaiLONDON, July 15 (Reuters) - Copper prices touched two-weekhighs on Monday as better than expected industrial output andinvestment data from top consumer China boosted sentiment,though gains were capped by the protracted U.S.-China tradedispute....Read More
By: David HaggithThis month the economic expansion brought to you by your Federal Reserve and by US government largess becomes the longest expansion in the history of the United States! That's something, right? Something? Let's take an honest look at what we now call great.By "the longest expansion" we mean the longest period in which US GDP has been growing without a recession. Now, that's some...Read More