Both healthcare stocks scored lofty new price targets todayBiotech concerns Precipio Inc (NASDAQ:PRPO) and Aptinyx Inc (NASDAQ:APTX) scored new analyst ratings today, with the brokerage firms expecting big moves for the penny stocks. Both equities have struggled so far in 2019, but their new price targets suggest Wall Street is rolling the dice on a comeback.Alliance Global Partners launched cover...Read More
The shares are nearing their record high from early JuneThe shares of Coupa Software Inc (NASDAQ:COUP) gapped nearly 10% higher on June 4, after the Business Spend Management software specialist's strong earnings report was met with a round of bullish brokerage notes. The tech stock went on to tag a record high of $129.40 on June 10, and following a brief consolidation atop its 10-day moving avera...Read More
Plus, GDP data is due next weekAll eyes will be on the two-day G-20 summit meeting that begins on Friday, June 28, in in Osaka, Japan. After months of speculation, trade tensions, and new tariffs, President Donald Trump and Chinese President Xi Jinping will meet to discuss a trade deal. But prior to the big geopolitical summit, there's plenty to keep investors occupied. There will be blue-chip ea...Read More
And options are attractively priced at the momentCereal maker General Mills, Inc. (NYSE:GIS) will step into the earnings confessional n before the open next Wednesday, June 26. At last check, GIS is up 0.8% to trade at $53.79 today, and earlier nabbed a new annual high of $53.89. Ahead of the event next week, there is a reliable signal flashing that indicates GIS' hot streak is far from over.Spec...Read More
KMX has garnered bullish attention from analysts this weekCar resale giant CarMax, Inc (NYSE:KMX) is slightly lower this afternoon, last seen down 0.6% at $83.01. Traders are most likely gearing up for the company's first-quarter earnings report, slated for release before the market opens tomorrow,June 21. Below we will take a look at how KMX has been doing on the charts, and what the options mar...Read More
Canopy Growth is set to reveal its fiscal fourth-quarter earnings after today's close Canada-based marijuana concern Canopy Growth Corp (NYSE:CGC) is trading higher today, up 1.3% at $43.31, right ahead of the firm's fiscal fourth-quarter earnings release after the close today. The weed stock is higher after shareholders approved the company's acquisition of Acreage Holdings yesterday evening. Can...Read More
Middle East tensions are driving oil prices higherIt's a record-setting session on Wall Street, with the S&P 500 Index (SPX) running to a new record intraday high this morning, as stocks continue to react to Wednesday's dovish Fed comments. The Dow Jones Industrial Average (DJI) is surging, too, coming within 190 points of its Oct. 3 all-time peak earlier, while the Nasdaq Composite (IXIC) is also...Read More
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