Fitbit Inc (NYSE:FIT) stock is getting pummeled today, down 12% to trade at $4.89 -- and just off a new record low of $4.67 -- after the wearable tech maker reported fourth-quarter earnings and revenue short of expectations. The company also issued a disappointing forecast for the current quarter. In response, three brokerage firms issued price-target cuts, including to $5 from $6 at Morgan Stanl...Read More
Cincinnati-based retail chain Macy's Inc (NYSE:M) is soaring after the company reported stronger-than-expected fourth-quarter earnings early this morning. The results were helped by impressive same-store sales growth and a revamped loyalty program, and in reaction, the stock has gapped 11.9% higher to trade at $30.72 at last check -- territory not seen since last March.More broadly, M has gained m...Read More
* Focus now on Powell's in-person testimony* Traders brace for German, Italian political developments (Updates throughout to U.S. market open, changes dateline; previous LONDON)By Saqib Iqbal AhmedNEW YORK, Feb 27 (Reuters) - The dollar added to gains against a basket of major currencies on Tuesday after Federal Reserve Chairman Jerome Powell told U.S. lawmakers the central bank would stick with g...Read More
Clovis Oncology Inc (NASDAQ:CLVS) last night reported an adjusted fourth-quarter loss of $1.27 per share on $17 million in revenue, with the latter number falling short of analysts' consensus estimate for $20.1 million in revenue. Wall Street was quick to chime in, too, with CLVS stock receiving price-target cuts from Barclays (to $85), BofA-Merrill Lynch (to $89), Stifel (to $110), and SunTrust R...Read More
Bloomberg News/LandovFlyers listing homes for sale are displayed at a realty office in Berkeley, Calif. The numbers: The S&P/Case-Shiller national index rose a seasonally adjusted 0.7% in the three-month period ending in December, and was up 6.4% compared to a year before. The 20-city index rose a seasonally adjusted 0.6% for the month, and 6.3% for the year. The Econoday consensus foreca...Read More
Stock futures are sluggish this morning, with the Dow Jones Industrial Average (DJIA) poised for a potential breather following yesterday's 400-point surge. In prepared remarks ahead of a question-and-answer session before Congress, new Fed Chair Jerome Powell said, "Despite the recent volatility, financial conditions remain accommodative" for gradual rate hikes. Elsewhere, durable goods orders fe...Read More
Chipotle Mexican Grill, Inc. (NYSE:CMG) got a much-needed boost two weeks back when the company announced Taco Bell vet Brian Niccol as its new CEO. Baird certainly likes the hire, this morning upgrading Chipotle stock to "outperform" and boosting its price target to $400 from $315. The brokerage firm said Niccol is an "extremely talented leader" and touted his work at Yum! Brands (YUM) and Procte...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.Editor...Read More
Mr. Matthew Hornor reportsMAPLE GOLD RECEIVES PERMITS AND RAMPS UP DRILLING AT DOUAYMaple Gold Mines Ltd. has provided an update on the current drill campaign at the Douay gold project. Maple Gold has received three of the four requested permits and anticipates receiving its final permit very shortly. Two diamond core drills (DDH) are now testing infill and stepout holes and a third drill rig has...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.China...Read More
Mr. John Burzynski reportsOSISKO INTERSECTS 71.9 G/T AU OVER 2.9 METRES AT LYNXOsisko Mining Inc. has provided new results from the continuing drill program at its 100-per-cent-owned Windfall Lake gold project located in the Abitibi greenstone belt, Urban ownship, Eeyou Istchee James Bay, Quebec. The 800,000-metre drill program combines definition, expansion and exploration drilling in and around...Read More
* Bank leaves base rate at 0.9 pct as expected* Overnight deposit and lending rates also unchanged* Central bank keeps policy loose, inflation below target* Monitors relative position of HUF yields to euro zone By KrisztinaThanBUDAPEST, Feb 27 (Reuters) - Hungary's central bank left its main interest rates unchanged at record lows on Tuesday, as expected, holding onto its set of unconventional to...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.On Mon...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
The high-speed sell-off that rattled U.S. stocks during the two-week stretch from late January through early February resulted in a drop of 12.2% for the PowerShares QQQ Trust (NASDAQ:QQQ), measuring from its Jan. 26 intraday peak to its Feb. 9 intraday low. The magnitude of the decline was sufficient to bring QQQ briefly back in touch with a couple of longer-term, "under the radar" daily moving a...Read More
Shares in Mexico-focused precious metals miner Fresnillo (LON:FRES) took a hit Tuesday after the company posted full year profit that missed expectations and anticipated higher costs.The miner, which is the world's largest primary silver producer and Mexico's second largest gold company, said that earnings before interest, tax, depreciation, and amortization increased by 2.7% to $1.06 billion in 2...Read More
Gold has shown weak trending activity despite some "goldbug" predictions. However there are some bullish signals that suggest a slow breakout higher. Daryl Guppy Published 21 Hours AgoUpdated21 Hours AgoCNBC.com The defining feature of the gold price chart is that it has taken so long to go nowhere. Gold appears to have slipped into a zombie state, largely unmoved by a weaker dollar, or interest...Read More
(Adds details)Feb 27 (Reuters) - Precious metals miner Fresnillo Plc on Tuesday posted a 3.2 percent rise in annual profit, helped mainly by a record silver production.Silver production rose 16.6 percent to 58.7 million ounces in the year ended Dec. 31, as the first phase of San Julian silver and gold mine in Mexico operated at full capacity for the first full year.Gold production for the year fe...Read More