There is no hope for gold and silver next week if they do not see short covering and rise. Physical demand for gold and silver will be high in Asia and more so in India and Indonesia as they open after a holiday. Risk traders use a buy on sharp dips strategy with a stop loss below $1255 for Monday and a stop loss below $1440 for silver for Monday. Copper is bullish and seems headed for $310 next...Read More
Travelers and American Express posted notable earningsStocks closed higher on the last day of the holiday-shortened week, with the Dow notching a triple-digit gain on the back of outperforming blue chips and better-than-expected March retail sales data. Specifically, Travelers (TRV) and American Express (AXP) both traded near the top of the Dow after earnings. The S&P 500 and Nasdaq ended in posit...Read More
Canarc Resources (TSX: CCM) has wrapped up a preliminary economic assessment of its New Polaris gold project in northwestern British Columbia that indicates the project could produce 80,000 ounces of gold per year over an 8.7 year mine life. By market close the Vancouver-based junior's stock had jumped 20%.The study assigns New Polaris a $216 million after-tax net present value at a 5% discount...Read More
RNC Minerals has closed a C$12-million bought deal financing by issuing approximately 24.5 million common shares at a price of C$0.49 each.The offering was underwritten by a syndicate co-led by Haywood Security and Cantor Fitzgerald Canada. The underwriters have also been granted a 15% over-allotment of 3.7 million shares at the same price per share.RNC recently made a high grade discovery - the F...Read More
Roxgold (TSE: ROXG) announced Thursday that the deal to acquire from Newcrest a portfolio of 11 exploration permits in C??te d'Ivoire, including the S?(C)gu?(C)la gold project, has completed.The Canadian miner paid $20 million upfront, to be followed by a $10 million deferred payment due when S?(C)gu?(C)la reaches production.S?(C)gu?(C)la is Roxgold's second major project after the Yaramoko gold m...Read More
SPLK was poised to bounce from a historically bullish trendlineSubscribers to Schaeffer's Weekly Options Trader service more than doubled their money in just two weeks with the Splunk Inc (NASDAQ:SPLK) weekly 4/12 116-strike call. Below, we will dive into why we anticipated a fast and aggressive upside move from the software stock, and how the options trade unfolded.When we first recommended the c...Read More
PINS stock began trading on the Big Board earlier todayBlue chips are outperforming on the final trading day of the week, thanks to positive earnings reactions for American Express (AXP) and Travelers Companies (TRV). Among other names making notable moves are social media stock Pinterest Inc (NYSE:PINS), rare genetic disease specialist Mustang Bio Inc (NASDAQ:MBIO), and cannabis issue Canopy Grow...Read More
Mitch McConnell will introduce a bill to raise the minimum age to buy tobacco and e-cigsThe shares of Altria Group Inc (NYSE:MO) are lower today, after U.S. Senate Majority Leader Mitch McConnell of Kentucky announced plans to introduce a bill in May to raise the minimum tobacco-buying age to 21. That legislation would also encompass vaping devices -- including the Juul, of which Altria owns a 35%...Read More
Gold ended modestly lower Thursday to post a fourth weekly loss in a row, with a jump in U.S. retail figures providing support for the dollar, dulling the appeal of the precious metal. On Thursday, gold for June delivery GCM9, +0.09% on Comex fell by 80 cents, or less than 0.1%, to settle at $1,276 an ounce. The settlement was the lowest finish for a most-active contract since Dec. 26, according...Read More
TAL has been a volatile stock in recent yearsAmong the more under-covered names reporting earnings next week is China-based TAL Education Group (NYSE:TAL). The company, which focuses on educational technology services, reports earnings before the open next Thursday, April 25. The event is notable due to TAL stock's post-earnings volatility from recent quarters -- and it doesn't hurt that the share...Read More
Vancouver-based Ximen Mining (TSX-V: XIM) announced that it is significantly expanding its precious metals exploration efforts in 2019, with programs underway and being scheduled on multiple properties.In a press release, Ximen said that when it comes to its flagship Brett property near Vernon, British Columbia, management plans to file a permit application to extend the historic mine drift along...Read More
Legislation fears have the sent healthcare sector reelingSure, it was a holiday-shortened week, with Wall Street taking a breather for Good Friday. But there was plenty of action leading up to the break, with the Dow alternating between red and black all week as investors digested various blue-chip corporate earnings reports. The healthcare sector sold off amid concerns over recent policy proposal...Read More
The S&P and Nasdaq are poised for weekly lossesThe suffering healthcare sector is keeping the Dow Jones Industrial Average (DJI) in check again today, with investor anxiety ramped up over recent policy proposals fromlegislators. However, the Dow remains in the black at midday, with help from positive earnings reactions for Travelers (TRV) and American Express (AXP). On the other hand, the S&P 50...Read More
Barrick Gold Corporation (NYSE: GOLD, TSX: ABX) announced today that it achieved preliminary Q1 production of 1.37 million ounces of gold and 106 million pounds of copper, both in line with its operating plans and guidance.After setting a production record at the its Kibali mine last year, Barrick says the operation is on track for another record performance in 2019. The Kibali gold mine is a join...Read More
Amazon and a handful of blue chips will reportEarnings season continues full speed ahead, with no fewer than 10 blue chips slated to report. Included in the list of Dow names reporting earnings next week are Coca-Cola (KO), Caterpillar (CAT), Procter & Gamble (PG), and Visa (V). Also on deck will be a handful of big-name retail, food, and social media giants, including Starbucks (SBUX), Facebook (...Read More
The May 35 put was popular on SKX stock in recent weeksSkechers USA Inc (NYSE:SKX) stock is down 14.3% at $30.19, set to snap its four-day win streak.Today's drop is sparked by the shoemaker's first-quarter earnings of 71 cents per shares, which was less than analysts were expecting. The company's quarterly revenue of $1.28 billion also missed the mark, as did its current-quarter profit and revenu...Read More
CVS has shed 19% so far this year and is trading near six-year lowsShares of CVS Health Corp (NYSE:CVS) are moving lower in this morning's trading, last seen down 0.3% at $52.37. The drugstore chain received a price-target cut to $75 from $90 at Raymond James, and although Guggenheim initiated coverage with a "buy" rating, the firm lowered its price target by 25% to $63, with the latter noting it...Read More
Both retail stocks could soon slice up shortsFollowing Tiger Woods' historic Masters win last Sunday, Jefferies weighed in on golf retailers Callaway Golf Co (NYSE:ELY) and Acushnet Holdings Corp (NYSE:GOLF). The brokerage firm noted the growing golf trend is not just because of the return of 'Tiger-mania.' Said analyst Randal Konik, on-course golf participants grew in 2018 for the first time in...Read More
SBUX could enjoy more analyst-induced tailwindsAn analyst at Jefferies weighed in on what he refers to as the "third wave" of coffee shops, or those artisan local cafes, and their effect on Starbucks Corporation (NASDAQ:SBUX). The brokerage firm believes SBUX can effectively compete because of its scale and technology infrastructure, even if it's not as "hip" as these newer coffee shops. The analy...Read More