U.S. stocks are modestly higher at midday, though the Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) are off their session peaks. Still, the DJIA and SPX are aiming for another record close. The reported attempted suicide bombing at Times Square in New York City took some of the wind out of the bulls' sails, but a strong day for drug and tech stocks is lifti...Read More
Drug stocks are in focus this morning, including sector partners Celgene Corporation (NASDAQ:CELG) and bluebird bio Inc (NASDAQ:BLUE). The pair reported positive data on their co-developed CAR-T drug -- designed to treat patients with advanced multiple myeloma -- with 94% of patients responding to the treatment, and over half remaining in complete remission. "This is unheard of, something that we...Read More
Solar stocks are gearing up for a strong close to 2017. This morning, shares of alternative energy names, First Solar, Inc. (NASDAQ:FSLR) and SunPower Corporation (NASDAQ:SPWR) are surging after being upgraded to "outperform" from "neutral" at Baird. Below, we will take a closer look at these bullish brokerage notes, and see how the stocks are performing. First Solar Stock is Baird's 'Top Sector...Read More
Software company Adobe Systems Incorporated (NASDAQ:ADBE) is set to report earnings after the close on Thursday, and bullish expectations are building ahead of the event. Just this morning, for example, RBC raised its price target to $179 from $177, helping ADBE stock pick up 0.4% to trade at $174.27. Most analysts are already very bullish, with 19 of 23 handing out "strong buy" ratings, and opti...Read More
Bitcoin futures began trading on the Cboe Global Markets Inc (NASDAQ:CBOE) last night under the symbol XBT. The contracts attracted such heavy volume that trading had to temporarily be halted, while CBOE's website underwent delays and outages. Shares of CBOE are trading higher this morning, as are Square Inc (NYSE:SQ) and Overstock.com Inc (NASDAQ:OSTK) -- two stocks with exposure to the cryptocur...Read More
Dow Jones Industrial Average (DJIA) futures are trading above fair value this morning, as stocks try to build off Friday's strong session. In focus today are newly released bitcoin futures, which soared in their debut, resulting in a temporary halt in trading. Investors are also monitoring headlines of an explosion near Times Square in New York City. Looking ahead, the Labor Department's Job Openi...Read More
"If fed funds futures traders are correct, and if past is prologue, bulls should welcome the FOMC standing pat this week... [there's] a propensity for stocks to rally in the short term following FOMC decisions to hold rates steady, with a bias toward broad-market weakness in the immediate days and weeks following a rate hike." -- Monday Morning Outlook, October 30, 2017"For now, the short-te...Read More
Pretium Resources (TSE:PVG) was the only one of our gold stocks in positive territory over the past two monthsThis Content is Exclusive to Our MembersLogin belowRegisterLost your password?The Ubika Gold 20 Index fell 10% since our last report dated October 10, 2017, underperforming its benchmarks, the Gold Spot price and the Global Gold Index which returned, -3.1% and -8.2%, respectively. Notable...Read More
The Dow Jones Industrial Average (DJIA) finished higher today, riding a stronger-than-expected jobs report to athird straight weekly win and a record closing high. Markets also cheered the signing of a short-term spending bill that postponed a government shutdown for two weeks. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) also closed in the black, although only the former was able to ek...Read More
U.S. stocks are having a strong day after this morning's jobs report. Among the names making big moves are drug stocks SteadyMed Ltd (NASDAQ:STDY), Teva Pharmaceutical Industries Ltd (NYSE:TEVA), and La Jolla Pharmaceutical Company (NASDAQ:LJPC). Here's a quick look at what's moving shares of STDY, TEVA, and LJPC. SteadyMed Stock Takes OffSteadyMed stock has added 14.5% to trade at $3.55, thanks t...Read More
It's a big day for biotechs, with Denali Therapeutics (DNLI) debuting on the Nasdaq above its initial public offering price (IPO), and Sage Therapeutics (SAGE) continuing to hit record highs. Amid these sector tailwinds, the iShares Nasdaq Biotechnology ETF (IBB) is up 2.1% to trade at $106.29 -- extending its bounce off a key trendline. Here's a closer look at IBB, and how options traders have be...Read More
It's been a crazy couple of weeks for the stock market, amid concerns about tax reform, tech stocks, and a government shutdown. Meanwhile, next week will bring us the launch of bitcoin futures and a possible Fed rate hike. While Schaeffer's Senior V.P. of Research Todd Salamone suggests traders "continue to use call options to participate in the record-breaking equity rally," below are a couple of...Read More
Shares of Valeant Pharmaceuticals International, Inc. (NYSE:VRX) are soaring today, with Trade-Alert pointing to optimism ahead of the Food and Drug Administration's (FDA) PDUFA action date for Luminesse, Bausch + Lomb's over-the-counter eye redness treatment. Whatever the reason, VRX stock is up 10% at $19.39 -- fresh off an annual high of $19.44 -- and option volume is popping.At last check, 123...Read More
It was a roller-coaster week on Wall Street, with the major market indexes experiencing their fair share of slumps, losing streaks, rebounds, and record highs. Encouragement over the Republican tax plan lifted most stocks early in the week, but another tech stock sell-off caught Wall Street off-guard. However, the tech sector ultimately rebounded, and aided by some upbeat economic and political ne...Read More
Since gapping to a record high of $86.20 in late October, the shares of Microsoft Corporation (NASDAQ:MSFT) have been relatively range-bound. However, in the wake of the recent pullback in tech stocks, MSFT stock could be flashing a big "buy." Below, we'll take a look at the technical signal that's preceded pops for the blue-chip stock in recent history.MSFT stock recently came within one standard...Read More
U.S. stocks are trading higher, with the Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX),and Nasdaq Composite (IXIC) getting a lift from the stronger-than-forecast nonfarm payrolls report for November. The U.S. economy gained 228,000 jobs last month, while the unemployment rate stayed at a low 4.1%. Combined with the passage of a two-week funding bill to stave off a government shutdown,...Read More
Ahead of the company's launch of bitcoin futures on Sunday, Cboe Global Markets Inc (NASDAQ:CBOE) continues to trade near Monday's record high of $127.78, last seen 0.5% higher at $124.82. But even as the cryptocurrency storms to record high after record high, a number of high-profile Wall Street firms are actively opposing bitcoin, such as banks JPMorgan Chase (JPM) and Citigroup (C). Meanwhile,...Read More
Universal Display Corporation (NASDAQ:OLED) is trading 7.3% higher at $179.60, after the company inked a deal with China's BOE Technology to develop and supply organic light-emitting diode (OLED) technology. Analysts like the arrangement, as Deutsche Bank and Susquehanna raised their respective price targets to $190 and $195, and Cowen weighed in by saying it believes 2018 should be another strong...Read More
Firearm stocks are on the move today, after American Outdoor Brands Corp (NASDAQ:AOBC) unveiled a disappointing earnings and revenue forecast -- and the resulting sell-off in AOBC, formerly known as Smith & Wesson, has extended to sector peer Sturm Ruger & Company Inc (NYSE:RGR). Both AOBC and RGR are trading sharply lower this morning, bucking an upside bias for the major equity indexes.Weak Outl...Read More
Bank stocks are in focus today, after global bank regulators gave the sector a post-recession win in the final Basel III agreement, which found "no significant increase" of capital requirements for financial institutions was needed. Additionally, this morning's strong U.S. jobs data helps strengthen the case for a possible rate hike at next week's Fed meeting. Among the names to watch today are Ba...Read More