The key executives behind Goldcorp's Coffee gold project in Yukon are back, this time leading a new junior miner called Tectonic Metals Inc. The company is seeking to raise C$5 million through a special warrant financing and pursuing a direct listing on the TSX Venture Exchange.Tectonic was founded nearly two years ago by Eira Thomas, Tony Reda and Rob Carpenter, who were key executive members of...Read More
The retail sector has been labeled a major potential loser in the tariff warFootwear was one of the categories included in the Trump administration's latest list of tariffs on imports from China. Fears around the outlook for the sector has resulted in bearish analyst attention for Skechers USA Inc (NYSE:SKX) and Steven Madden, Ltd. (NASDAQ:SHOO). Let's take a quick look at the analyst notes on SKX...Read More
The German automaker is planning a summer IPO for its truck unitNavistar International Corp (NYSE:NAV) stock is booming today, after Volkswagen announced initial public offering (IPO) plans for its Traton truck unit. The German automaker said it plans to price the shares this summer, and the IPO is expected to be Germany's biggest this year. The shares of NAV -- which owns a 16.85% stake in Traton...Read More
Gold retreated from its biggest one day move in 3-months on Tuesday as equity markets bounced after the United States and China adopted a more optimistic tone on their trade dispute. On Monday, gold rose 1.1% after China announced it would impose higher tariffs on a range of U.S. goods, which followed Washington's decision last week to hike its own levies on $200 billion in Chi...Read More
Toronto-based junior miner Orvana Minerals (TSX: ORV) posted a relatively strong fiscal second quarter ended March 31, 2019, with good performance from its two operating mines: the Don Mario gold mine in Bolivia and the El Valle gold-copper mine in Spain.Orvana recorded net income of $3.3 million on $36 million in revenue during the past quarter, compared with a net loss of $3.5 million on $37 mil...Read More
China decides to retaliate against the US on tariffs.S&P sells off by almost 70 handles.Gold though rallies over 1% on the announcement sending the yellow metal above $1300 an ounce.Yesterday's market action in US equity markets once more demonstrated why it is so important to have a diversified portfolio in order to realize above-average gains. The S&P 500 dropped by 70 handles to finish...Read More
Gold futures settled below the psychologically significant price of $1,300 an ounce on Tuesday, as equity benchmarks rebounded from a period of trade-related uncertainty. June gold GCM9, -0.06% receded by $5.50, or 0.4%, to end at $1,296.30 an ounce, giving back part of the 1.1% gain on Monday. The settlement a day earlier was the first above $1,300 and highest most-active contract finish since A...Read More
Eastmain Resources is pleased to report results for 7 drill holes (1,767 metres in the 2019 winter program at the Percival discovery on its 100%-owned Clearwater Property in James Bay, Quebec. Winter drilling is now complete, with 17 drill holes totalling 4,659 metres. Assays are pending for the 4 remaining holes of the program.Program highlights include:Identification of 3 main east-trending zone...Read More
Plus, Disney will take full control of HuluStocks are moving sharply higher this afternoon, attempting a rebound while keeping an eye on the latest tweets from President Donald Trump. Three names maintaining investor focus today are drug concern Solid Biosciences Inc (NASDAQ:SLDB), blue chip Walt Disney Co (NYSE:DIS), and clothing giant G-III Apparel Group, Ltd. (NASDAQ:GIII). Below, we will dive...Read More
A wave of bull notes could bring more buyers to the tableThe shares of advertising giant Omnicom Group Inc. (NYSE:OMC) seem to be in the midst of a breakout, sporting a solid 8.6% year-to-date lead. The stock's current perch on the charts looks promising as it finds support from the $78 level, a previous level of resistance and site of an earnings bull gap from April.Wall Street is certainly not p...Read More
The index has done this just a dozen times since 2010China on Monday retaliated against increased U.S. tariffs, sending the major stock market indexes to their worst session in months. In fact, the S&P 500 Index (SPX) dropped more than 2% for the first time since early January. The last time the SPX fell more than 2% for the first time in at least three months was Oct. 10, at the start of the four...Read More
Chair Powell claims that subdued inflation is caused by transitory factors. Does the recent data confirms his views? And just how transitory is the new tariff rate on $200bn Chinese imports? Will we see a creep higher in inflation about to lift the gold prices? CPI Edges Up At the post-FOMC press conference in May, Jerome Powell said that some transitory factors could be responsible for muted inf...Read More
Jefferies is selling FIZZ stock ahead of earningsPut volume is running hot on National Beverage Corp. (NASDAQ:FIZZ), as the stock sells off on a bearish brokerage note. At last check, 1,452 puts were on the tape -- 34 times what's typically seen at this point in the day, and volume pacing in the 99th annual percentile -- compared to just 107 calls.Diving deeper reveals not all of the day's put vol...Read More
A long history for the spread.The highest level in a quarter of a century.Silver has been stubborn, and the trend is bearish.Is the ratio telling us a rally in silver is coming and mean reversion in the spread is on the horizon?USLV turbocharged silver volatility if a correction is on the horizon.Last Friday, on May 10, the trade dispute between the US and China escalated with sent a wave of uncer...Read More
Stocks are broadly higher today The Dow Jones Industrial Average (DJI) is trying to claw back from one of the biggest pullbacks of the year in yesterday's trading, which was due to trade war fears. All three major indexes are trading sharply higher today, and attention is still on President Donald Trump's Twitter account, after he wrote that it would be "game over" with China if the Fed cut intere...Read More
The options market is pricing in a bigger-than-usual post-earnings move for CSCOCisco Systems, Inc. (NASDAQ:CSCO) earnings are due after the market closes tomorrow, May 15. The Dow stock's been relatively quiet on the charts in recent weeks, per its 60-day historical volatility of 16.3%, which ranks in the 11th annual percentile. However, the options market is anticipating a big move for Thursday'...Read More
Early Lyft stock bargain-hunters were hit hard by the company's first earnings report"Each month, TD Ameritrade Holding Corp. (NASDAQ: AMTD) reveals which stocks were among the most bought and sold by their clients via the Investor Movement Index, which tracks investor behavior by measuring holding and trading data from a sample of clients... Unsurprisingly, retail investors flocked to some of the...Read More
IMMR is set for its worst week since AugustTech stock Immersion Corporation (NASDAQ:IMMR) was up more than 10% in early trading, after the company settledinfringement litigation with Samsung. The firm also said it inked a deal with Sony to license its advanced haptic patents to be used in VR and gaming controllers. However, despite also raising its full-year revenue guidance and beating analysts'...Read More
The Queensland Resources Council has welcomed the State Government's decision to grant Resolute Mining nine new mining leases as part of a $150 million project to extend the life of its Ravenswood gold mine operations in north Queensland.QRC Chief Executive Ian Macfarlane said the announcement by Natural Resources, Mines and Energy Minister Dr Anthony Lynham would secure the 280 existing jobs and...Read More
Both APHA and CRON are heavily shortedTwo weed stocks are making outsized moves higher this morning. First, Aphria Inc (NYSE:APHA) stock is up 1.5% to trade at $6.87, after the company announced its president, Jakob Ripshtein, was resigning. Aphria stock gapped lower in mid-April following a subpar quarterly report. Since then, the shares have carved out a channel of lower lows to the tune of a...Read More