Piper Jaffray is concerned with HSY's valuation after its strong run in 2019Hershey Co (NYSE:HSY) shares are trading down 0.5% this morning at $137.15, after Piper Jaffray downgraded the stock to "underweight" from "neutral" and set a $125 price target, saying the company's valuation is too high compared to its peers. This comes after HSY hit an all-time high of $139.34 earlier this month, with th...Read More
The brokerage firm sees 30% downside for Tesla stockTesla Inc (NASDAQ:TSLA) stock is down 1.6% this morning to trade at $226.43, in reaction to a scathing bear note from Goldman Sachs. The brokerage firm slashed its TSLA price target to $158 from $200 -- a 30% discount to last night's close -- saying, "a downward path for shares will resume as it becomes more clear that sustainable demand for the...Read More
Deutsche Bank initiated with a "buy" ratingComputer maker Dell Technologies Inc (NYSE:DELL) is climbing the chartsthis morning, last seen up 4.3% at $55.72, after Deutsche Bank initiated coverage with a "buy" rating and $62 price target on the stock. The brokerage firm said it believes DELL could stave off industry headwinds, and might benefit from refinancing opportunities in the event of lower...Read More
Stronger dollar is creating a renewed short-term headwind for gold.Falling short interest and overcrowding also increase gold's risks.Gold mining stocks, however, will continue outperforming bullion.Gold's progress since last month's bottom has been nothing less than astounding. The rally over the last three weeks has allowed the metal to claim the distinction of being one of the top percentag...Read More
CCL is pacing for its worst day since 2012One of the worst stocks on the New York Stock Exchange today is Carnival Corp (NYSE:CCL), down 12.6% to trade at $46.21 this morning. The company's adjusted second-quarter earnings and revenue came in above analyst expectations, but the cruise line cut its 2019 profit forecast, citing the U.S. government policy change toward travel to Cuba. This is pacing...Read More
Alibaba just announced that its "6.18 Mid-Year Shopping Festival" broke records across China The shares of Alibaba Group Holding Ltd (NYSE:BABA) are popping this morning, after the Chinese e-commerce giant announced that its "6.18 Mid-Year Shopping Festival" broke sales records across China. The event, which took place over 18 days and featured over 200,000 brands, helpedmany of the participating...Read More
The Dow is set for a huge open as investors cheer a dovish FedU.S. stock futures are pointing to a higher open, with the Dow Jones Industrial Average (DJI) set for a more than 250-point jump out of the gate. The bullish backdrop comes after the Fed's dovish update yesterday, putting a potential interest-rate cut on the table for 2019. Meanwhile, weekly jobless claims were lower than expected this...Read More
ECB's Mario Draghi may have unintentionally reignited smoldering currency wars with his Sintra, Portugal, comments.President Donald Trump was immediate in his reaction and conclusion that this was a currency shot across the US economic bow.Gold Technicals are currently strong, and a catalyst like competitive devaluation could awake gold from its long dormant hibernation.ECB's Mario Draghi may...Read More
Uncertainty about US trade policy has truncated the rally in stocks.Gold remains supported by central bank buying and fears of a US dollar collapse.Gold miners look best placed to reap the benefits regardless of direction.A collapse in the US dollar is needed for gold to rally substantially.In Q4 2018, as stocks declined, gold rallied 8.1% and gold mining stocks 13.7%. It was a prescient reminder...Read More
* Copper touches highest since May 21 * GRAPHIC-2019 asset returns: (Updates with closing prices)By Eric OnstadLONDON, June 20 (Reuters) - Nickel and other base metalsmarched higher on Thursday after the U.S. central bank signalledrate cuts and investors hoped that the economy of top metalsconsumer China would recover.Both nickel and copper touched the highest levels in morethan three weeks, partl...Read More
As we head into the seasonally weak summer months, it is best to look for, initiate, or accumulate positions with sound fundamentals, trading with valuation disconnects due to exogenous factors, notes David Morgan, editor of The Morgan Report, www.TheMorganReport.com. Further, the adage "Sell in May and come back after Labor Day" may apply. This is the most common occurrence in the summer months;...Read More
Reuters - Barrick Gold Corp the world's No. 2 gold miner, believes its proposed offer to take full control of its African unit is "more than fair" and will engage with Acacia Mining Plc's board and minority shareholders to win them over, Chief Executive Mark Bristow told Reuters on Tuesday. Acacia agreed on Tuesday to extend to July 9 the deadline for Toronto-based Barrick to make a firm offer to...Read More
According to Ross Norman, CEO, Sharps Pixley, www.sharpspixley.com, a London-based bullion broker, gold could be in the very early stages of a bull run. "We are seeing distinct similarities with the very early bull run in the late 1990s, just before we saw that inflection moment. There was massive despondency in the physical market for gold, increasing M&A amongst the miners and a market tra...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average ended up for the third straight day Wednesday after the Federal Reserve said it would hold interest rates steady. Adobe (ADBE - Get Report) climbed after the San Jose, Calif.-based software company beat Wall Street's second-quarter earnings estimates. Adobe is Real Money's Stock of the Day. U.S. Ste...Read More
The Wednesday Market Minute U.S. equity futures edge higher ahead of today's Fed policy decision, with investors pricing in a 24.2% chance of a rate cut and President Donald Trump renewing his criticism of Chairman Jerome Powell.Asia stocks rally to five-week highs on hopes of a breakthrough in U.S.-China trade talks and bets on support from global central banks following a dovish turn from ECB...Read More
- Gary ChristensonMost of us understand "there's no free lunch." Someone must pay for the products and services we use. The acronym is TANSTAAFL, or "There Ain't No Such Thing As A Free Lunch." The saying has been around for decades, even prior to Robert Heinlein's "The Moon is A Harsh Mistress."Our morning coffee is an example. Coffee beans were planted, grown, harvested, roasted, transported...Read More
-Gary TanashianIt's not a chart of nominal HUI with upside technical targets. We'll do that in NFTRH this weekend, along with the usual individual miners. Rather, it's a companion to other charts we've been reviewing over the last several months showing the under valuation of the gold stock sector relative to gold's performance vs. cyclical assets/markets. For example, gold has risen strongl...Read More
- Hubert MoolmanThe gold market is looking a lot like it did early in the millennium, at the start of the bull market. It is setting up for a gold bull market that is likely to be way more intense than the previous one, due to the structural weaknesses incurred by the monetary system since then.Debt levels, for example, have grown significantly since the early 2000s. US Government debts (Federal...Read More
- Steve St. Angelo, SRSrocco Report After five long years, the gold price has finally broken through a key resistance level and is now heading towards $1,400. When the Fed announced possible rate cuts starting in July, after the market closed, the gold price shot up and continued higher during Asian trading. If gold closes above $1,400 by the end of the month, it could be setting the stag...Read More
- Gary SavagePost FOMC update:Read More