The brokerage bunch is overwhelmingly bullish on the tech stockOppenheimer initiated coverage on Pareteum Corp (NASDAQ:TEUM) with an "outperform" rating and $7 price target -- an 80% premium to last night's close. Analyst Timothy Horan waxed optimistic on the mobile networking software and services provider's "very strong" backlog growth, and is in a position to increase revenues by 30% in the nex...Read More
The S&P and Nasdaq both nabbed record closes earlier this weekEarnings season is a roller coaster, and this week was no different. Wall Street saw the S&P 500 and Nasdaq nab record closes, only to take a breather later in the week, although this could signal low volatility ahead. In addition to corporate earnings, traders kept an eye on oil prices and digested better-than-expected gross domestic...Read More
Ollie's Bargain Outlet is nearing record-high territoryRetail chain Ollie's Bargain Outlet Holdings Inc (NASDAQ:OLLI) is moving higher this afternoon, last seen up 0.2%, at $95.32. The shares earlier this week received a Morgan Stanley's price-target hike to $86 from $79, which sent OLLI's year-to-date gain above 43%. In fact, the stock rallied its way to an all-time peak of $97.98 on Wednesday....Read More
Oil prices are reeling on comments from President TrumpDespite first-quarter gross domestic product (GDP) growth that exceeded expectations, the Dow Jones Industrial Average (DJI) has traded on both sides of breakeven today. The index was last seen modestly higher, though, even as blue chips Exxon Mobil (XOM) and Intel (INTC) tank after earnings. Meanwhile, the Nasdaq Composite (IXIC) isin the re...Read More
At least nine analysts raised their Amazon price targets overnightAmazon.com, Inc. (NASDAQ:AMZN) is buzzing this morning, with analysts quick to react after the e-tailer last night reported a first-quarter earnings beat. Specifically, the tech giant recorded a $7.09 per-share profit in the first three months of 2019, more than double its year-ago $3.27 per-share profit, and well above the consensu...Read More
Uber is expected to go public in early MayDetails of Uber's initial public offering (IPO) are emerging, valuing the company north of $80 billion, and that has rival ride-sharing concern LYFT Inc (NASDAQ:LYFT) in focus. Another name that's in the conversation is PayPal Holdings Inc (NASDAQ:PYPL), with the payments processor planning a $500 million purchase of Uber shares, which are expected to be p...Read More
Edibles and the entry of major retail players should push pot into the mainstreamWeed concern Aurora Cannabis Inc (NYSE:ACB) is higher today, as traders digest the company's new licensing agreement for EnWave's patenteddrying technology. In addition, ACB and fellow cannabis concern Hexo Corp (NYSEAMERICAN:HEXO) both scored fresh "buy" ratings from analysts at Desjardins Securities. The brokerage f...Read More
Sibanye Gold Ltd. agreed to raise its all-share offer for platinum miner Lonmin Plc, citing an increase in metal prices since the deal was announced in December 2017.The increase should help bolster support from Lonmin investors, who still need to vote on the takeover. It also signals Sibanye boss Neal Froneman's determination to get the deal done, as the company needs access to Lonmin's metal-pro...Read More
INTC is on track for its worst day since July Intel Corporation (NASDAQ:INTC) is the worst stock on the Dow today by far, down 8.3% to trade at $52.85, after the chipmaker cut its 2019 revenue forecast to $69 billion from $71 billion, while also reporting lower-than-expected data center sales. The dismal guidance overshadows aearnings and revenue beat, sparking concerns about a sector-wide semico...Read More
JOHANNESBURG - South Africa's militant AMCU union said on Friday that it was complying with the country's labour laws, disputing a government notice which said it could be de-registered for breaking rules governing how unions should operate.The Association of Mineworkers and Construction Union (AMCU), one of the largest trade unions in South Africa's mining sector, has thousands of members at mine...Read More
The brokerage firm also slashed its FDX price targetUBS downgraded FedEx Corporation (NYSE:FDX) to "sell" from "neutral," and slashed its price target by $10 to $161 -- a nearly 15% premium to last night's close at $188.87. Analyst Thomas Wadewitz cited slowing Asian airfreight and German factory activity as signs of a "challenging environment for Fedex's International Package business," while wea...Read More
The food delivery concern announced a first-quarter earnings and revenue beat Food delivery concern Grubhub Inc (NYSE:GRUB) is soaring today, after the company posted earnings and revenue for the first quarter that exceeded analysts' estimates. The company says it's gained an edge in the oversaturated market via aggressive spending and strategic partnerships with restaurants. GRUB shares are up 9...Read More
Bitcoin Gold rebounds 8.17% on Friday after the sudden widespread crypto selloff. BTG is the strongest daily gainer following a formidable rebound from the intraday low. The cryptocurrency market is dealing with the aftermath of the allegations facing Tether (USDT) and Bitfinex following a new filing by the New York Attorney General’s office. The two entities are accused of covering up a s...Read More
Markets Earnings Oil Gold Europe lower as earnings season comes into focus It’s been a slightly negative end to the week in Europe, with indices marginally in the red, while US futures are once again looking mixed as we await more earnings reports. Earnings is very much front of mind right now, with central banks around the world having adopted a far more dovish approach in anticip...Read More
As always, most analysts focus not on what they really should. After March FOMC meeting, everyone was talking about the more dovish dot-plot. But the Fed also announced that it will end the unwinding of its balance sheet in September. As these changes are revolutionary and may entail potentially huge consequences for the precious markets, we invite you to read our today’s article about the n...Read More
The SPX and NDX are signaling lower starts, tooIt's a busy morning on Wall Street, with traders eyeing another round of blue-chip earnings.Intel (INTC) stock is bracing for a big drop on the chipmaker's weak outlook, and oil major Exxon Mobil (XOM) is also lower after earnings. Elsewhere, traders are digesting the the latest gross domestic product (GDP) reading, which showed the U.S. economy grew...Read More
Gold spot ($) Further advance. Stay on top of the markets with Swissquote’s News & Analysis Pivot (invalidation): 1276.00 Our preferenceLong positions above 1276.00 with targets at 1285.00 & 1287.00 in extension. Alternative scenarioBelow 1276.00 look for further downside with 1273.00 & 1270.00 as targets. CommentThe RSI is bullish and calls for further u...Read More
* Central bank holds rate at 7.75 pct, as expected * Bank says inflation peaked, on track to slow* Interest rate cut possible in Q2-Q3 - central bank * Next rate-setting meeting on June 14 (Adds detail, analyst comments)By Gabrielle T?(C)trault-Farber and Andrey OstroukhMOSCOW, April 26 (Reuters) - Russia's central bank held itskey interest rate at 7.75 percent on Friday in line with marketexpecta...Read More
With Silver prices continuing to coil, it remains touch and go as to which way it could break. But with volatility seemingly brewing around a pivotal area, when it breaks, it could be hard and fast. Ultimately, we suspect silver’s price action is fast-approaching an inflection point. As Fawad Razaqzada noted yesterday, silver has clearly stalled around an important level...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average ended lower as shares of 3M (MMM - Get Report) plunged following an earnings miss and after the company said it would cut 2,000 jobs. Shares of Microsoft (MSFT - Get Report) climbed after beating Wall Street's third-quarter earnings expectations. Comcast (CMCSA - Get Report) was rising...Read More