One trader seems to have executed a bearish ratio spread todayThe shares of Tyson Foods, Inc. (NYSE:TSN) are down 1.4% to trade at $73.56 today, after Walmart (WMT) announced it was creating its own Angus beef supply chain. Walmart intends for its products to share shelf space and be similarly priced as Tyson's. Also, Tyson also announced it was selling its stake in Beyond Meat, a plant-based pr...Read More
Traders are betting on new highs for the rumored Apple partnerThe shares of semiconductor concern Amkor Technology, Inc. (NASDAQ:AMKR) are within striking distance of new annual highs, amid rumors the company has been chosen as the primary supplier for Apple's (AAPL) next generation of AirPods. MacRumors reported that analyst Ming-Chi Kuo expects two new AirPod models to begin production as early...Read More
Both names will report first-quarter earnings tomorrow morningIt's a busy week for Cleveland-Cliffs Inc (NYSE:CLF), with the mining firm hosting its annual shareholders meeting today, and reporting first-quarter earnings before the market opens tomorrow, April 25. At last check, CLF stock was trading up 0.6% at $9.55, but could be in for a bigger move tomorrow, if history is any guide.Trade-Alert...Read More
Lululemon just outlined its five-year plan for revenue growthAhead of today's annual analyst day, Lululemon Athletica inc. (NASDAQ:LULU) unveiled its strategic plan to accelerate growth in the next five years. The athletic apparel retailer will continue to focus on its women's and accessories divisions, while doubling revenues in its men's and digital businesses and quadrupling international reven...Read More
Traders are weighing earnings from Caterpillar and BoeingThe Dow Jones Industrial Average (DJI) has remained relatively static, as Wall Street weighs the latest batch of corporate earnings reports. Caterpillar (CAT) is the biggest blue-chip laggard today, with CAT shares down after earnings, while Boeing (BA) stock is flirting with modest post-earnings gains. Elsewhere, the Nasdaq Composite (IXI...Read More
AAPL has added 31% year-to-dateShares of Apple Inc. (NASDAQ:AAPL) are up 0.2% at $207.92, after the tech giant received price-target hikes fromanalysts. The bull notes come just ahead of the company's earnings report, which is slated for after the market closes next Tuesday, April 30. Late last night, Morgan Stanley raised its outlook, hiking its price target to $234 from $220. Meanwhile, Goldman...Read More
GD and NOC are in focus this morning after the companies' quarterly reportsOn Tuesday, Lockheed Martin (LMT) stock shot higher on a well-received earnings release, closing the day up 5.7%. This helped lift sector peers General Dynamics Corporation (NYSE:GD) and Northrop Grumman Corporation (NYSE:NOC) above their 200-day moving averages for the first time in months. Now, while LMT enjoys some posit...Read More
The energy shares are lower on a big buyout offer for APCThe shares of Occidental Petroleum Corporation (NYSE:OXY) are down 3.4% at $60.21, after the Houston, Texas-based oil and gas firm put in a $57 billion cash-and-stock bid for Anadarko Petroleum (APC) -- topping rival Chevron's (CVX) offer made earlier this month. OXY's proposal equates to $76 per APC share, an 18.7% premium to last night's c...Read More
South Africa's labour registrar said he intended to de-register the militant AMCU trade union for breaking rules on how unions should operate, a move which could reshape the balance of power on the country's platinum belt.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 mines operated by compa...Read More
India's central bank is likely to join counterparts in Russia and China scooping up gold this year, adding to its record holdings and lending support to worldwide bullion demand as top economies diversify their reserves.The Reserve Bank of India's purchases are part of a wider picture across developing economies that are looking at de-dollarizing their foreign-exchange reserves, according to Ross...Read More
A whopping 14 brokerages have already issued price-target hikesOne of today's big earnings winners is eBay Inc (NASDAQ:EBAY), after the online retailer's first-quarter adjusted profit came in at 67 cents per share, topping the consensus estimate of 63 cents per share.The company's quarterly revenue of $2.6 billion came in above expectations, and eBay also upped its full-year profit and revenue ou...Read More
The biopharma name reported first-quarter earnings that beat expectations Drugmaker Biogen Inc (NASDAQ:BIIB) reported first-quarter earnings and revenue that exceeded analysts' expectations. The company cited strong growth from its spinal atrophy treatment, Spinraza, but sales of multiple sclerosis drug Tecfidera fell short of estimates. As a result, BIIB shares started the session higher, but wer...Read More
The S&P is signaling a higher startDow Jones Industrial Average (DJI) futures are trading below fair value this morning, as a negative earnings reaction for Caterpillar (CAT) offsets a post-earnings pop for Boeing (BA) stock. At last check, CAT shares were down 2.4% in electronic trading, despite a first-quarter adjusted earnings and revenue beat. BA stock is up 1.7%, as the 737 Max planemaker's i...Read More
Max Keiser challenges anyone to dispute his claim that "Bitcoin is Peer to Peer Gold". I accept the challenge. Bitcoin is Fool's Gold Bitcoin has some rare and interesting properties. Like gold, Bitcoin is easily divisible. But what about scarcity? Proponents claim Bitcoin is scarce. Alleged proof of the claim is that only a certain number of them will be mined. The claim i...Read More
BHP, Barrick Gold, Teck Resources and Antofagasta are a few of the major mining companies that, together with equipment suppliers and universities, have helped develop global guidelines on automation.The document, published this week by Canada-based Global Mining Guidelines Group (GMG), outlines a framework for miners to follow when considering adding autonomous equipment to their operations. It a...Read More
High prices are luring Africans into prospecting for gold. But huge volumes are smuggled out through the Middle East.By DAVID LEWIS in Nairobi, RYAN McNEILL and ZANDI SHABALALA in LondonFiled April 24, 2019, 6 a.m. GMTBillions of dollars’ worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East - a gateway to markets in Europe, the U...Read More
Gold spot ($) The downside prevails. Stay on top of the markets with Swissquote’s News & Analysis Pivot (invalidation): 1273.00 Our preferenceShort positions below 1273.00 with targets at 1266.00 & 1262.00 in extension. Alternative scenarioAbove 1273.00 look for further upside with 1276.50 & 1279.50 as targets. Comment The RSI shows downside momentum. Silver spot ($)...Read More
* SPDR gold holdings fall to six-month low * Asian shares fall, European markets splutter * Gold to find support at $1,264, resistance at $1,284 (Updates prices)By Sethuraman N RApril 24 (Reuters) - Gold prices edged up from the previoussession's four-month low as a dollar rally relented and equitiessoftened on Wednesday.Spot gold was up 0.1 percent at $1,273 an ounce by1248 GMT after hitting its...Read More
* GRAPHIC-2019 asset returns: (Updates with closing prices)By Eric OnstadLONDON, April 24 (Reuters) - Copper and other base metalsrecovered on Wednesday from the previous day's losses, buoyed byhopes for a U.S.-China trade deal and stronger economic growthin top metals consumer China.The White House said that top U.S. officials will travel toBeijing for trade talks next week, with one leading offi...Read More
Prior data on when the SPX tests its previous high Stocks have been on a tear since bottoming last Christmas Eve. The all-time high on the S&P 500 Index (SPX) now looms just overhead. A lot of market technicians see that as potential resistance. In other words, they believe there's an increased chance of a pullback or at the very least a pause in the rally. This week I'm looking at prior instances...Read More