The Friendly Bear said the food delivery concern is "unlikely to exist in 18 months"The shares of food delivery concern Waitr Holdings Inc (NASDAQ:WTRH) are swimming in red ink today, in apparent reaction to brutal commentary from The Friendly Bear. Specifically, the analysts opined that WTRH stock is "running on fumes" and"unlikely to exist in 18 months." Along with citing an "alarming" cash burn...Read More
Iamgold Corp. has announced a 32% reduction in the workforce at its Westwood gold mine 40 km east of Rouyn-Noranda and only 2.5 km east of the former Doyon gold mine. The process is to begin this week.A planned reduction due to the stage of mine development and a realignment due to the 2019 guidance numbers were considered in making the decision, said Iamgold. Westwood production is to be between...Read More
Imperial Metals' (TSX:III) stock rocketed 62% last week over a two-day period on the news that Australia's Newcrest Mining (ASX:NCM) is taking a $1.1 billion stake in the company's Red Chris copper-gold mine - a price that has shocked investors and observers.The copper-gold mining company's stock shot from C$1.98 per share on March 8 to $3.20 per share on March 11. On Wednesday it was trading at $...Read More
How the index performs after these closely watched technical signalsJust three short months ago, Wall Street was talking about the major market indexes forming a "death cross." This week, however, the Dow Jones Industrial Average (DJI) just saw its 50-day and 200-day moving averages make a "golden cross," typically seen as a bullish sign of things to come. As such, we decided to take a look at how...Read More
Continental Gold (TSX: CNL) has announced a discrete resource estimate for the Broad Mineralized Zone 1 (BMZ1) in the central-west portion of the Yaragua system at its Buritica gold project in Antioquia, Colombia.The zone contains 828,870 measured and indicated tonnes grading 14.15 grams gold per tonne and 22.9 grams silver for 377,000 oz. gold and 611,000 oz. silver. It also contains 141,150 infe...Read More
The USA is engaged in quantitative tightening while most other countries are still easing. This points to a stronger U.S. dollar.Excess bank reserves held at the Fed should keep long-term rates lower for longer.Actual Working Monetary Base AWMB should continue to rise keeping the U.S. economy expanding.Unfortunately, the strong U.S. dollar should keep the U.S. price of gold subdued for some time.B...Read More
The stock just pulled back to a key trendline amid the 737 MAX 8 scandalSeveral airlines have felt the heat after the recent Boeing (BA) 737 MAX 8 crash and subsequent global grounding, including United Airlines parent United Continental Holdings Inc (NASDAQ:UAL). The equity has slipped roughly 12% off its year-to-date peak of $90.93, touched on Feb. 26, trading today at $80.26. The drop, however,...Read More
The Fed's next policy decision will come out in a few hoursU.S. stocks are trading modestly lower ahead of this afternoon's Fed decision. The Dow Jones Industrial Average (DJI), Nasdaq Composite (IXIC), and S&P 500 Index (SPX) are all in the red, with the latter index dragged down by a poor earnings reaction for FedEx (FDX). On top of a 2:30 p.m. ET press conference from Fed Chair Jerome Powell, w...Read More
Currencies and metals didn't move much on Tuesday... What does currencies should we be looking to buy? Good Day… and a Wonderful Wednesday to you! Well, I told you yesterday that if things didn’t change in the “not much has happened or going on” scenario, that I would pack up and take a mini-vacation, in hopes that this all changes while I’m gon...Read More
Stephanie Landsman| @stephlandsmanPublished 14 Hours AgoCNBC.com show chapters Before gold can challenge 2018's highs, Standard Chartered predicts prices will dip lower 3:49PM ET Tue, 19 March 2019 |01:17 Metals expert Suki Cooper sees gold prices hitting a speed bump before they can challenge last year's highs.Cooper, Standard Chartered's executive director of precious m...Read More
Gold has rebounded since March 5 despite a mixed macro backdrop.Gold's spec positioning lightens for a third week in a row.ETF investors buy gold for the first time in six weeks.Expect a warm macro backdrop for gold in Spring 2019 on 1) dovish Fed's stance and 2) unsustainable rally in US equities.I am bullish on GLDM over the short term and beyond. A warm spring breeze, John Rula (Saatchi Art) In...Read More
Both DLTR and DG options are attractively priced at the momentEvercore ISI has had a busy morning weighing in on the retail sector. The brokerage firm initiated coverage on Dollar Tree, Inc. (NASDAQ:DLTR) with an "in-line" rating and $105 price target. In addition, Telsey Advisory Group upgraded DLTR to "outperform" from "market perform," while boosting its price target to $117 from $103, followi...Read More
Another brokerage firm is concerned about BBBY marginsEvercore ISI initiated coverage on Bed Bath & Beyond Inc. (NASDAQ:BBBY) with an "underperform" rating and $12 price target -- a discount to last night's close at $13.97. The brokerage firm expressed concern over falling margins and same-store sales, as well as increasing competition from online and discount retailers -- notably, Amazon.com (AMZ...Read More
Goldman Sachs details why it's growing more bearish on MNST and LUVEquity analysts at Goldman Sachs this morning lowered their outlooks on the shares of energy drink giant Monster Beverage Corp (NASDAQ:MNST) and travel concern Southwest Airlines Co (NYSE:LUV). The bear notes have both MNST and LUV stocks trading in the red early on today. Looking closer at MNST, Goldman downgraded its opinion to...Read More
The FDA approved SAGE's postpartum depression drug ZulressoThe shares of SAGE Therapeutics Inc (NASDAQ:SAGE) are up 2% at $159.20, after its postpartum depression (PPD) drug, Zulresso, was approved by the Food and Drug Administration (FDA). Some experts' negative comments could be paring back further gains, including Leerink analyst Marc Goodman, who called the new treatment a "niche product" and...Read More
Oil prices are trading lower in pre-market actionDow Jones Industrial Average (DJI) futures are trading cautiously above fair value ahead of the final day of the Fed meeting. While next to no one is expecting an interest rate hike, investors are still keen to hear economic projections from Fed Chair Jerome Powell at a 2:30 p.m. ET press conference. U.S.-China trade talks remain in focus, too, esp...Read More
South Africa's labour court ruled on Wednesday that the extension of a wage agreement to cover all gold unions and non-unionised employees of mining group Sibanye-Stillwater is valid and lawful, the miner said.Sibanye had in December extended the agreement, reached the previous month with the National Union of Mineworkers, UASA and Solidarity, to all employees at its South African gold operations,...Read More
Gold prices have managed to achieve a rebound from the sub-$1,290 levels seen earlier this month to challenge $1,305 at the time of writing. What can be watched as a potential positive driver for Gold over the coming trading sessions is that risk-off sentiment appears to be creeping back into the markets, amid reports that China is pushing back against the United States in trade negotiations. The...Read More
* GRAPHIC-2019 asset returns: (Updates with closing prices)By Eric OnstadLONDON, March 20 (Reuters) - Zinc prices rose on Wednesdayas inventories in London Metal Exchange warehouses hit freshlows, but other industrial metals dipped on uncertainty overglobal demand.Low inventories of many metals in LME-registered warehousesare helping to bolster prices despite weak economic data fromtop metals cons...Read More
Energy and resources open innovation platform Unearthed joined forces with Adelaide-based OZ Minerals to launch the Explorer Challenge, a competition that brings together data scientists, geoscientists and mining professionals to create machine learning-based mining solutions.Competitors who achieve the goal of predicting the next big mineral deposit in South Australia using real geoscientific dat...Read More