After four straight months of inflows, holdings in global gold-backed ETFs and similar products fell in February by 33 tonnes to 2,479t, equivalent to $1.3 billion in outflows, and gold trading volumes decreased 5% below the 2018 averages to $104 billion per day, according to data from the World Gold Council (WGC).However, global gold-backed ETF flows remain positive on the year ($1.7 billion) on...Read More
AMBA has rallied 46% from its Nov. 20 lowGoPro (GPRO) supplier Ambarella Inc (NASDAQ:AMBA) has been climbing higher on the charts, now up 46% from its Nov. 20 four-year low of $30. However, one technical signalindicates AMBA's upside momentum could cool off in the near future.At last glance, Ambarella stock was trading flat, just above $43.80. Digging deeper, AMBA is now trading within one standar...Read More
The shares could extend their quest for record highsTax-preparation software maker Intuit Inc. (NASDAQ:INTU) is flirting with record highs again today, peaking at $256.45 earlier. The security has been a beast so far in 2019, rallying more than 30% and outperforming the S&P 500 Index (SPX) by nearly 17 percentage points in the past 60 sessions, guided higher atop its 10-day and 20-day moving avera...Read More
• Rebounding US bond yields triggered the initial leg of the downfall. • A goodish pickup in the USD demand adds to the bearish pressure. • Technical selling below $1300 mark intensifies the intraday slide. Gold remained heavily offered through the early North-American session and tumbled to fresh daily lows in the last hour.&nb...Read More
The brokerage firm highlighted "execution issues and funding risks"The shares of Summit Midstream Partners LP (NYSE:SMLP) have slumped 4.6% to trade at $9.62 -- fresh off a record low of $9.28 -- after Credit Suisse double-downgraded the energy stock to "underperform" from "outperform," and slashed its price target to $9 from $15. The brokerage firm said the company's fourth-quarter earnings repor...Read More
Subscribers just won big with the April 87.50 callSubscribers to Schaeffer's Weekend Trader Series service doubled their money with the Procter & Gamble Co (NYSE:PG) April 87.50 call. Here's a quick look at why we expected a big upside move from the Dow stock, and how the profitable options trade unfolded.When we entered the position on Monday, Jan. 7, PG was fresh off a then-record high of $96...Read More
A lucrative retirement package for the chairman of Goldcorp Inc. is raising the hackles of investors ahead of a key vote on the company's planned merger with Newmont Mining Corp.Ian Telfer's retirement allowance will rise to roughly $12 million from $4.5 million if the miners merge, according to a regulatory filing from Vancouver-based Goldcorp, once the world's largest gold miner by market value....Read More
Stocks extended their uptrend on Wednesday, as investors' sentiment remained bullish following the recent advances. The S&P 500 index was the highest since the early October yesterday. But will the rally continue despite some short-term technical overbought conditions?The U.S. stock market indexes gained 0.6-0.7% on Wednesday, as investors' sentiment remained bullish. The S&P 500 index ret...Read More
In the aftermath of the joint venture agreement with Newmont Mining Corp. earlier this week, Barrick Gold Corp. has taken steps to revise its production guidance for 2019. Executive chairman John Thornton and CEO Mark Bristow are currently travelling to update shareholders on the company's post JV operations."Barrick's merger with Randgold Resources Ltd. created 'significant value' for shareholder...Read More
Leagold Mining produced 302,550 oz. gold in 2018 from its four operating mines at C$974 all-in sustaining costs (AISC) for a $83.2 million AISC margin.The company brought in $376.5 million in revenue for a net income of $15.2 million, up from a $7.5 million net loss the year before.The company brought in $376.5 million in revenue for a net income of $15.2 million, up from a $7.5 million net loss t...Read More
A drill program last year to validate historic resources at Reunion Gold 's Nivre deposit in French Guiana has resulted in a 43-101 resource that is similar to its counterpart reported in 1998.The Nivre deposit contains 18.9 million indicated tonnes grading 1.09 grams gold per tonne for 665,000 ounces of gold and 26 million inferred tonnes grading 1.06 grams gold for 883,000 ounces of gold.The Dor...Read More
Jefferies initiated coverage with a "buy" rating and a $15 price target -- nearly double the stock's current levelsJefferies just initiated coverage of Kala Pharmaceuticals Inc (NASDAQ:KALA) with a "buy" rating and a $15 price target.In response, the shares of KALA are up 1% at $8.13, trying to battle back after an ugly 2018. KALA stock is coming off it's Dec. 24 all-time-low of $4.03 -- now up 6...Read More
Traders are digesting weak housing dataU.S. stocks are mixed at midday, with the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) all lingering around breakeven. Concerns about a delayed U.S.-China trade deal are keeping some investors on the sidelines, with Wall Street also digesting a steeper-than-expected drop in new home sales in January. Meanwhile, Boeing...Read More
Canada is in danger of losing its global dominance in mining, despite recent government initiatives to improve competitiveness, according to a report from an industry association.The report, by the Mining Association of Canada, comes as debate about the hollowing out of the country's mining sector grows. Mega-mergers by Canada's two largest gold companies, Barrick Gold Corp. and Goldcorp Inc., sta...Read More
• The precious metal stalled its recent positive momentum near 200-period SMA on the 4-hourly chart and came under some renewed selling pressure on Thursday. • The intraday slide dragged the commodity below the key $1300 psychological mark and tested 50% Fibonacci retracement level of the $1280-$1311 latest up-move. • Slightly...Read More
Shorts are likely cheering today's TLRD declineTailored Brands Inc (NYSE:TLRD) is being pummeled this morning, last seen 21.7% lower at $9.15 -- and fresh of a 10-year low of $8.70 -- after the retailer reported a fourth-quarter sales miss and disappointing forecast. Looking closer, comparable sales for the Men's Wearhouse and Jos. A. Bank businesses declined during the period. In response, at l...Read More
More uncertainty over Brexit is keeping gold buoyant.Yet gold's currency factor is keeping the metal's price locked in a range.Ultimately, rising safety demand will allow gold's recovery to continue.Gold is consolidating its gains from its November-February rally and remains in a well-defined holding pattern. Pundits remain divided as to whether this holding pattern represents a pause...Read More
A thin earnings schedule still features some important namesThe main focus of the upcoming trading week will be the two-day Federal Open Market Committee (FOMC) meeting, which begins on Tuesday. Investors will be awaiting a Wednesday policy decision to see if the Fed will maintain its dovish stance. There are a few names to watch on the earnings front, too, including delivery giant FedEx (FDX) and...Read More
Culp expects 2020 and 2021 to be significantly betterThe shares of General Electric Company (NYSE:GE) are higher today, shaking off the industrial conglomerate's 2019 outlook that fell short of expectations. More specifically, the company forecast adjusted full-year earnings of 50 cents to 60 cents per share, compared to the 70 cents per share consensus estimate, and said negative cash flow in it...Read More
The brokerage firm sees strong growth for the solar stockThe shares of Vivint Solar Inc (NYSE:VSLR) are up 4% to trade at $5.21, after Goldman Sachs took a bullish stance to the alternative energy sector. The brokerage firm said it anticipates " lower costs for solar and favorable policy support ... to drive meaningful upside to the market," and forecast year-over-year utility-sector solar install...Read More