Google was among the U.S. companies to cut ties with HuaweiThe Dow continued its journey lower today, as tech stocks sold off. Of note, several chipmakers took a beating, as Google parent Alphabet (GOOGL) and a handful of U.S. semiconductor makers cut ties with Huawei, following President Donald Trump's recent blacklist of the Chinese firm. This, as hopes for a trade deal between the U.S. and Chin...Read More
FCC Chair Pai threw support behind a Sprint-T-Mobile mergerSprint Corp (NYSE:S) is having a breakout session, with the telecom stock last seen trading up 22.2% at $7.53 -- fresh off a 19-month high of $7.90. Sparking the bull gap is news Federal Communications Commission (FCC) Chief Ajit Pai threw support behind a Sprint-T-Mobile (TMUS) merger, in part due to the telecommunications giants' plans t...Read More
One equity is set for its worst day ever on a Huawei-related downgradeTechnology and chip stocks are suffering a steep sell-off this afternoon, sending markets deep into the red. Three namesalso making noise today are electronics name Keysight Technologies Inc (NYSE:KEYS), car manufacturer Ford Motor Company (NYSE:F), and video game retailer GameStop Corp (NYSE:GME). Below, we will dive into what...Read More
Speculators have been betting bearishly ahead of the retailer's reportA slew of retailers are slated to report earnings this week, with department store Nordstrom, Inc. (NYSE:JWN) on deck to report after the close tomorrow. Ahead of the event, Barron's called JWN stock a "bargain," but it looks like recent options buyers are expecting more downside for the beat-up shares.Nordstrom stock was last s...Read More
Gold prices finished Monday with a modest gain after settling at a two-week low in the previous session, with the dollar showing some weakness and U.S. stocks on the decline. June gold GCM19, +0.04% on Comex added $1.60, or 0.1%, to settle at $1,277.30 an ounce. It ended Friday at $1,275.70, the lowest most-active contract finish since May 2, according to FactSet data. Gold futures logged a weekl...Read More
Gold prices finished Monday with a modest gain after settling at a two-week low in the previous session, with the dollar showing some weakness and U.S. stocks on the decline. June gold GCM19, +0.03% on Comex added $1.60, or 0.1%, to settle at $1,277.30 an ounce. It ended Friday at $1,275.70, the lowest most-active contract finish since May 2, according to FactSet data. Gold futures logged a weekl...Read More
Investors don't realize that gold is one of the world's most liquid currencies and assets, trading with volumes equivalent to those of the euro or U.S. Treasury bond benchmarks.Although similar in philosophy, gold blows Bitcoin away on any measure by which the two can be compared.Now is the time for investors to benefit from a "life preserver" while others enjoy the card game on the...Read More
VF Corp will report earnings on Wednesday, May 22, before the openThis morning, Morgan Stanley weighed in on the airline sector, and its reviews weren't exactly glowing. The brokerage firm sees inconsistencies in cost approaches for "legacy" airliners, and thinks expectations should be reset. More specifically, American Airlines Group Inc (NASDAQ:AAL) saw its rating cut to "underweight" from "equa...Read More
SolGold is in talks with financiers keen to invest in its Ecuadorian copper-gold prospects and mining major BHP could increase its stake in the company, SolGold's chief executive said on Monday.In a preliminary economic assessment of the Alpala copper-silver-gold deposit in northern Ecuador released earlier, London-listed SolGold said annual copper output should be 207,000 tonnes for the first 25...Read More
Meanwhile, an options trader seems to be betting on a huge pullback for one blue chipU.S. stocks are trading in the red today, as the tech sector swoons on Huawei headwinds. Semiconductor shares continue to see some of the sharpest losses, sending the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) lower with the Dow Jones Industrial Average (DJI). Meanwhile, oil prices are on the rise after the O...Read More
A bullish signal just flashed for BKNG, amid the travel sector's sell-off Travel stocks have taken a hit, after Morgan Stanley downgraded several airline stocks earlier today, with American Airlines (AAL) getting the brunt of the analyst's drubbing. Booking Holdings Inc (NASDAQ:BKNG) hasn't been immune to the sector dip, down 1.6% at $1,758.17 a share, at last glance. However, the stock just pulle...Read More
Analysts spent the weekend weighing EV stockBofA-Merrill Lynch double-downgraded Eaton Vance Corp (NYSE:EV) to "underperform" from "buy," and slashed its price target to $37 from $45. The analyst in coverage said the lowered outlook comes amid slowing flow trends and expectations for margin pressures for the investment firm.Jefferies also chimed in on EV stock over the weekend, cutting its price t...Read More
Narendra Modi is leading in exit pollsThe iShares MSCI India ETF (INDA) has rocketed higher today, with the exchange-traded fund (ETF) pacing for its best session since March 2016. Specifically, INDA shares were last seen 4.5% higher at $35.22, as exit polls suggest a win for Indian Prime Minister Narendra Modi. Votes will be counted on Thursday, May 23, after a seven-week election. Against this b...Read More
LITE joins a myriad of chip stocks in the red todayLumentum Holdings Inc (NYSE:LITE) is one of manytech stocks in the red this morning, as headwinds from Huawei Technologies take over mere days after President Donald Trump banned U.S. companies from supplying components to the China telecom concern. Specifically, Lumentum announced that it's halting shipments to Huawei, which accounted for 18% o...Read More
ZM stock began trading on the Nasdaq on April 18William Blair initiated coverage on Zoom Video Communications Inc (NASDAQ:ZM) with an "outperform" rating, citing "compelling growth drivers," including "industry-leading revenue growth rates." The brokerage firm joined four others in its bullish outlook on the new Wall Street stock, while six others currently maintain tepid "hold" ratings.The San Jo...Read More
A New York Times report accused the bank of not reporting suspicious activity from the U.S. President and his son-in-lawThe German financial concern Deutsche Bank AG (NYSE:DB) is pacing for its fourth day in the red today after a New York Times report accusing the bank of failing to report suspicious transactions between U.S. President Donald Trump and his son-in-law Jared Kushner. Mr. Trump and D...Read More
Target will report earnings on Wednesday, May 22, before the openSeveral retail names step into the earnings confessional this week, including Target Corporation (NYSE:TGT), set to report on Wednesday, May 22, before the open. Ahead of the event, Morgan Stanley upped its rating on Target to "equal-weight" from "underweight," the analyst seeing the company's margin risk as already priced into its v...Read More
Tanzania's mining minister said on Monday Acacia Mining had been fined 5.6 billion Tanzanian shillings ($2.4 million) for alleged pollution at its North Mara mine.Acacia, majority-owned by Barrick Gold, is embroiled in a long-running tax dispute with Tanzania.It was forced to cut output by a third after the government banned the export of mineral concentrates from its two other mines, Bulyanhulu a...Read More
Most Wall Street analysts are bullish on GOOS sharesLuxury retailer Canada Goose Holdings Inc (NYSE:GOOS) received new coverage on Wall Street this morning, with HSBC setting a "buy" rating and $62 price target. The analyst note discussed the possibility for strong growth over the next three years, given the company's store count and potential expansion outside North America. However, the firm did...Read More
Nasdaq futures are pointing to a rough day for tech stocks Futures on the Dow Jones Industrial Average (DJI) are pointed toward a negative open, as Alphabet (GOOGL) and other tech giants have begun taking steps to cut ties with China's Huawei Technologies, only days after President Donald Trump banned U.S. companies from supplying components to the telecommunications name. Several chipmakers with...Read More