BorgWarner is down 1.5% this afternoon on tariff headwindsGlobal trade tensions have markets moving significantly lower at midday, while the stock market's "fear gauge," or Volatility Index (VIX), is at multi-month highs. Also making noise today is natural gas name Midstates Petroleum Company Inc (NYSE:MPO), medical research firm Athenex Inc (NASDAQ:ATNX), and automotive parts supplier BorgWarner...Read More
Gold prices finished higher Monday, giving up earlier losses, as investors reacted to a slump in equities after President Donald Trump upended perceived progress on trade talks by threatening to raise tariffs soon on China. Gold has pulled back "with sharp market declines that are reacting to [the] U.S.-China tariff negotiations sudden bump in the road," said George Gero, managing director at RBC...Read More
Gold prices finished higher Monday, giving up earlier losses, as investors reacted to a slump in equities after President Donald Trump upended perceived progress on trade talks by threatening to raise tariffs soon on China. Gold has pulled back "with sharp market declines that are reacting to [the] U.S.-China tariff negotiations sudden bump in the road," said George Gero, managing director at RBC...Read More
The stock hit a record high earlierSinclair Broadcast Group Inc (NASDAQ:SBGI) stock has spiked 29% higher today to trade at $58.02, after the media giant's CEO Chris Ripley said SBGI has "an interest in as broad a distribution as possible" following its purchase of some of Walt Disney's (DIS) sports assets -- including a potential live sports partnership with Amazon.com (AMZN). The equity is fresh...Read More
HTZ puts have been favored latelyRental car icon Hertz Global Holdings Inc (NYSE:HTZ) will step into the earnings confessional after the market closes today. Ahead of the company's first-quarter report, options traders are coming out of the woodwork, with an emphasis on puts.Specifically, nearly 5,900 HTZ options have changed hands today, three times the average intraday amount and double the num...Read More
This innovative company could help investors see some major upside.For those who have been trying to play the pot craze, a recent value play has emerged for those quick enough to jump on the bandwagon. Investors are beginning to take action on this "Warren Buffett-style marijuana play" after its 296% 12-month run. With an increased push towards legalization in much of the U.S., particular nich...Read More
After a short rally at the start of 2018 year peaking at $1,354/ozt on March 25, the gold price fell steadily during Q2 and Q3 to USD 1,176/ozt on August 16, and then rebounded to $1,280/ozt on December 28. We analysed the effect of the gold price on the gold mining industry using data from the Mining Intelligence Data Application. The data we used represents companies reporting quarterly producti...Read More
DIS stock hit a record high late last monthIt's been a dramatic stretch for Walt Disney Co (NYSE:DIS) stock, per its 30-day historical volatility of 42%, which ranks in the 99th annual percentile. Most of this price action has been to the upside, with DIS shares carving out fresh highs on Disney+ streaming service details and a blowout "Avengers: Endgame" premier. Options traders have made a beeli...Read More
Several weeks ago we wrote about the downside risk in the gold stocks.After the various gold stock indices formed distribution-type tops, the subsequent selling has been swift. Miners have plunged through moving averages and short-term breadth indicators quickly reached oversold extremes.While the gold stocks are oversold, it could be a little while before we can expect a sustained rebound.We plot...Read More
The FDA just granted Zynerba "fast track" status for its new CBD-based gelThe Food and Drug Administration (FDA) granted Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) "fast track" status for its cannabinoid-based gel, Zygel, used in the treatment of symptoms brought on by the rare genetic disability Fragile X Syndrome (FXS). The stock is up 8% at $12.36 as a result. ZYNE has seen some serious growth...Read More
Vancouver-based EnGold Mines has successfully extended the high grade gold-bearing quartz veins at its Lac La Hache property in the Cariboo region. The veins include a series of narrow, quartz-carbonate, gold-silver sulphide veins in several new showings chosen after follow-up to the 2018 soil geochemical results. The seven hole, 463-metre drill program extended the Main vein to 180 metres total s...Read More
Meanwhile, put volume is notably higher than normal on emerging markets ETF EEMThe Dow Jones Industrial Average (DJI) continues to pare its early morning losses, last seen trading near session highs, though the blue-chip index remains deep in the red at midday. Traders are still digesting President Donald Trump's tariff tweets that sparked a sell-off in global markets, as investors again worry ab...Read More
CAT options are attractively priced As trade war fears stir up tension on Wall Street, trade-sensitive stocks like Caterpillar Inc. (NYSE:CAT) come into focus. At last check, CAT was down 3.2% to trade at $136.30, but as the stock nears a familiar trendline, history suggests this pullback could present a buying opportunity for the Dow name. Specifically, the equity is trading within one standard...Read More
Gold Gold started the week by surging and breaking the resistance of a descending channel pattern. The move was expected, as already on Friday the pair clearly bounced off the support of a dominant pattern and began to surge. In regards to the near term future, Dukascopy Analytics expects a consolidation of the gains. Namely, the metal's price will remain unchanged by trading sidew...Read More
However, KHC shares have erased early losses Shares of Kraft Heinz Co (NASDAQ:KHC) were notably lower out of the gate, after the company announced it will be restating its financial reports from past quarters, due to "certain misstatements" and employee misconduct. Kraft also delayed its first-quarter earnings release. However, KHC shares have since turned higher, after Warren Buffett -- whose Be...Read More
The United States and a group of Pacific allies are proposing to finance a power plant to kick-start the Wafi-Golpu mine in Papua New Guinea, one of the world's largest untapped gold resources, two sources familiar with the plan said.The proposal would be the first to be funded by a partnership of the United States, Australia, New Zealand and Japan that pledged to support electricity projects in P...Read More
Axsome Therapeutics is fast-tracking two of its pipeline drugsNear the top of the Nasdaq today sits Esperion Therapeutics Inc (NASDAQ:ESPR), after the Food and Drug Administration (FDA) accepted marketing applications for the company's cholesterol drug. At last check, ESPR is up 13% to trade at $48.86, on track for its best day since Oct. 26. The good news was met with a generous price-target hike...Read More
The brokerage firm boosted its price target on the retail stock, thoughBarclays downgraded Five Below Inc (NASDAQ:FIVE) to "equal weight" from "overweight," saying the retail stock is "fully valued." However, the brokerage firm also raised its FIVE price target to $140, calling the retailer one of its "best-in-class names within our coverage," and saying Five Below has emerged as "one of the most...Read More
The drugmaker reported better-than-expected first quarter results and raised its outlookCanadian-based drugmaker Bausch Health Companies Inc (NYSE:BHC) just posted its first-quarter earnings results with a smaller-than-expected loss of 15 cents per share, though revenue missed slightly. The firm also lifted its 2019 full-year revenue forecast. The stock is 2% higher at $23.90 as a result. BHC has...Read More
Wall Street's fear index is set to soarDow Jones Industrial Average (DJI) futures are deep in the red this morning, down 445 points after President Donald Trump reignited trade war fears in a series of tweets. Specifically, Trump threatened to raise tariffs on $200 billion of Chinese goods to 25% from 10%this Friday, May 10, and said another $325 billion ofChinese goods will be slapped with a 25%...Read More