The WSJ reported that China is considering a large purchase of U.S. chipsThe semiconductor sector is in focus today thanks to a Wall Street Journal report saying that China may offer to buy more chips from the U.S. There's no sign the Trump administration would be open to such a plan, however, which may be why chip stocks are only sporting modest gains. Still, call traders are making moves on the...Read More
The future holds a changing landscape for miners' skillsets in Australia. A vast 77% of mining jobs will be enhanced or redesigned due to technology within the next five years, an EY report for the Minerals Council of Australia on the Future of Work in Mining released today reveals.The report is built on EY's Digital Mining Report on the minerals industry, and tales a closer look at the influence...Read More
Mark Bristow, known throughout the gold industry for his relentless focus on costs, is counting on his belt-tightening skills to take Barrick Gold Corp. to the next level."John really drove this business on multiple fronts, but his primary focus was the debt," Barrick CEO Bristow said Wednesday in an interview at Bloomberg's Toronto office, referring to the miner's executive chairman, John Thornto...Read More
CVS, ROKU, and CAR are also among the names set to report earningsNext week will be a holiday-shortened one, with markets closed Monday for Presidents Day. The action picks up after that with earnings reports from Walmart (WMT), CVS Health (CVS), Roku (ROKU), and Universal Display (OLED) all on tap. The abbreviated week has a central bank theme, too, with the Fed minutes due on Wednesday, and sev...Read More
As more millennials are interestedin sustainable investments, one "green tech" company is leading the charge on clean drilling.Concerns about climate change and the high cost of energy have driven the maturation of the "Green Technology" movement into a trillion-dollar industry.Socially Responsible Investments (SRIs) are the most popular component of the average millennial's 401K, according to a r...Read More
Silvercrest Metals (TSXV: SIL; NYSE: SILV) has discovered the Babi Sur silver-gold vein on its Las Chispas property in Sonora, Mexico, through recent drilling.The company intersected high grade silver and gold mineralization along a 1.5 km strike length at Babi Sur. The vein sits parallel to the project's Babicanora vein, about 300 metres away. The company has now found six high grade veins at La...Read More
Coca-Cola is sharply lower after an earnings missThe Dow Jones Industrial Average (DJI) is down over 150 points today, under pressure from ugly retail sales numbers and a dismal post-earnings reaction from Coca-Cola (KO). In addition, Amazon (AMZN) shares are lower on reports the company is abandoning plans for a second headquarters in New York. The S&P 500 Index (SPX) and Nasdaq Composite (IXI...Read More
Just seven weeks into the job, Barrick Gold Corp.'s new boss has already discovered, first hand, the challenges of developing and mining giant deposits in Latin America.Barrick's main project, the Veladero joint venture with Shandong Gold in Argentina, isn't performing like a tier one asset, Mark Bristow said on Wednesday. In 2019, Veladero is expected to have the highest cost per ounce in Barri...Read More
H.C. Wainwright launched coverage of the small-caps todayAnalysts at H.C. Wainwright initiated coverage on several biopharmaceutical stocks today, including Chiasma Inc (NASDAQ:CHMA) and Dermira Inc (NASDAQ:DERM), both started at "buy." Further, the analyst issued an $11 price target for CHMA -- representing a roughly 300% premium to the equity's close of $3.70 on Wednesday. Likewise, DERM's price...Read More
The brokerage bunch is already bullish on the stockAzurRx BioPharma Inc (NASDAQ:AZRX) is a development stage biopharmaceutical firm whose two pipeline products are being developed to treat exocrine pancreatic insufficiency and c. difficile infections. Optimism around the former drug sparked this morning's bull note from Maxim, with the analyst in coverage initiating coverage on AZRX stock with a "...Read More
At least 23 illegal miners are trapped and feared dead in Zimbabwe after shafts and underground tunnels they were working in were flooded by water from a burst dam, a state-owned daily newspaper reported on Thursday. Small-scale gold producers, including illegal miners, accounted for nearly 60 percent of the record 33 tonnes of gold produced in Zimbabwe last yearThe southern African nation has bee...Read More
The automaker is considering the purchase of GM's Oshawa plant Electra Meccanica Vehicles Corp (NASDAQ:SOLO) is among the top performers on the Nasdaq again today. The stock shot up 220.7% yesterday -- its biggest one-day rally ever -- after CEO Jerry Kroll said it's considering taking over a shuttered General Motors (GM) plant in Oshawa, Ontario. Further, the firm's electric one-seater vehicle --...Read More
However, the FAANG rivals have both been affected by an EU rulingShares of Alphabet Inc (NASDAQ:GOOGL) are down 0.7% at $1,120.52, at last check, moving lower after European regulators decided on a platform-to-business law designed to prevent unfair practices within app stores and search engines. On the flipside, GOOGL is seeing positive attention from the likes of Citigroup, which named Alphabet...Read More
* Sibanye in talks to cut almost 6,000 jobs* Plans to restructure struggling gold operations* Shares up, outpacing mining index (Adds mines minister, analyst comment, shares, background)Sibanye-Stillwater could cut nearly 6,000 jobs in a potential restructuring of the company's gold mining operations following losses at some of its mines last year.The precious metal miner said it had entered into...Read More
Both stocks are pacing for sharp losses todayWall Street is punishing shares of Sierra Wireless, Inc. (NASDAQ:SWIR) and NetApp Inc. (NASDAQ:NTAP) before the open, with the stocks set to open down 22% and 8.4%, respectively. Let's dig into the earnings results and sentiment data on SWIR and NTAP below. Sierra Wireless missed on both earnings per share and revenue for the fourth quarter, and also de...Read More
XOM has room for more bullish analyst attentionThe shares of Exxon Mobil Corporation (NYSE:XOM) are up 0.3% in electronic trading, after Macquarie raised its outlook on the energy name by two levels to "outperform" from "underperform," while setting a price target of $83. The analyst in coverage likes the company's multiple liquefied natural gas (LNG) projects and strong balance sheet, and notes X...Read More
The big bank has created a digital token called the "JPM Coin"Despite CEO Jamie Dimon being a vocal critic of bitcoin, JPMorgan Chase & Co. (NYSE:JPM) said it's created a digital token, the JPM Coin -- the first among big banks. According to CNBC, early trials for the cryptocurrency are set to begin later this year, and will be used in lieu of international payments to large corporate clients, whi...Read More
Coca-Cola and Cisco Systems reported earnings todayDow Jones Industrial Average (DJI) futures were initially higher this morning, amid continuing optimism over a U.S.-China trade deal. President Donald Trump yesterday said talks were "going along very well." However, a lackluster report on December retail sales -- which suffered their worstdrop since 2009 -- has takenthe wind out of the bulls' sai...Read More
Will fiscals stimulus run out by 2020?What is the biggest threat within the US?What does it all mean for the gold market?114 months. So long is the current US economic expansion. It officially started in June 2009, and if the country avoids recession until July 2019, the uptrend in the business cycle will exceed 120 months, becoming the longest expansion since at least 1857, when the NBER began re...Read More
Sierra Metals (TSX: SMT) is one step closer to expanding its Yauricocha mine in Peru.This week, the miner reported the approval of the Environmental Impact Assessment Study for the expansion of the tailings deposition facility at the polymetallic mine.The positive answer follows an initial negative issued in December 2016 by Peru's National Environmental Certification Service to Sierra's subsidia...Read More