Gold futures finished higher for a second consecutive session on Wednesday, but pared much of their earlier gains as traders tracked moves in the benchmark dollar index, the latest developments in the U.S.-China trade dispute and efforts to avoid another partial U.S. government shutdown. "The 'risk-on' vibe sweeping across global markets and the stabilizing U.S. dollar are bad news for gold which...Read More
Almost half of S&P 500 stocks are above their 200-day trendlinesAs we noted in this week's Monday Morning Outlook, nearly half ofS&P 500 Index (SPX) stocks are above their 200-day moving averages. While we haven't yet crossed the 50%-of-stocks threshold, we're definitely on the cusp. Below, we take a look at SPX performance when the majority of stocks trade above their 200-day trendlines after a l...Read More
SilverCrest Metals expects to update the resource estimate and complete a preliminary economic assessment in the first quarter of the year on its Las Chispas silver project in Mexico.A resource estimate in September 2018 focused on an estimated 5.5 km of about 20 known kilometers of cumulative vein strike length in the district, about 180 km northeast of Hermosillo in the state of Sonora.Las Chisp...Read More
The company will purchase CBD processing firm Khrysos GlobalE-commerce concern Youngevity International Inc (NASDAQ:YGYI) is one of the top performers on the Nasdaq today, after the company inked a deal to purchase Khrysos Global, a Florida-based firm that specializes in hemp-based CBD processing equipment. In addition, Benchmark lifted its price target on YGYI stock to $14 from $9 -- nearly doub...Read More
A new lithium technology could change the face of lithium production forever.Andrew Carnegie didn't invent the Bessemer converter, but used it to amass an incredible fortune producing steel at lower costs. What one simple machine can do for increasing production and lowering costs is staggering (think of the cotton gin).The lithium industry has been plagued with inefficiency and expensive producti...Read More
The Dow is heading toward its second-straight day of triple-digit gainsThe Dow Jones Industrial Average (DJI) is higher at midday after President Donald Trump indicated he could be flexible with the U.S.-China trade deal deadline. Adding to the bullish buzz are news Chinese President Xi Jinping will participate in trade negotiations with U.S. delegates later this week. The S&P 500 Index (SPX) and...Read More
Swedish mining and smelting firm Boliden reported fourth-quarter core earnings ahead of market forecasts on Wednesday, but proposed a total shareholder payout below analyst expectations.Operating profit, excluding revaluation of process inventory, fell to 2.00 billion Swedish crowns ($216 million) from 2.91 billion a year earlier, beating the 1.89 billion seen by analysts in a Reuters poll.The com...Read More
Russia's Finance Ministry said on Wednesday that Russia had produced 314.42 tonnes of gold and 1,119.95 tonnes of silver in 2018.In the previous year, Russia's gold output was 306.9 tonnes and the country's silver output 1,044.3 tonnes.(By Darya Korsunskaya and Maria Tsvetkova; Editing by Alexander Smith)Read More
The February 55 call has been popular in recent weeksThe shares of Canopy Growth Corp (NYSE:CGC) are trading up 2.9% at $45.11 ahead of the Canada-based cannabis company's fiscal third-quarter earnings report, due tomorrow, Feb. 14. CGC stock plunged nearly 11% after the company's last quarterly report last November, but options traders appear to be bracing for a post-earnings breakout this time a...Read More
Vancouver-based Regency Gold (NEX: RAU.H) announced it has entered into a definitive agreement with Vanadium North Resources to acquire all of its issued and outstanding common shares, the main interest behind the buyout being the Valley of Vanadium project in the Northwest Territories.In a press release, the companies said that Vanadium North holds an option to acquire 100% of the Valley of Vanad...Read More
The "Call of Duty" stock has struggled on the charts since OctoberShares of Activision Blizzard, Inc. (NASDAQ:ATVI) are up 6.5% at $44.39 this morning, after the company reported fourth-quarter earnings and announced plans to cut up to 8% of its workforce -- confirming layoff rumors from earlier this week. The "Call of Duty" maker also unveiled a new buyback program of up to $1.5 billion, and iss...Read More
How you can transform lagging indicators into leading indicators.Despite the strong January kick-start to 2019, many investors are still apprehensive of what's to come, especially considering some of the latest market-moving events -- think Fed policy announcements, U.S.-China trade negotiations, and earnings season, to start.While it's certainly no crystal ball, becoming familiar with the various...Read More
Exelixis reported fourth-quarter earnings and revenue that exceeded analyst expectationsThe shares of Exelixis Inc. (NASDAQ:EXEL) shot higher out of the gate this morning, but were last seen down 0.7% at $21.53, even though the company reported fourth-quarter earnings and revenue that beat analysts' forecasts. The biopharmaceutical company cited strong sales of its cancer drug Cabometyx for the be...Read More
SNC-Lavalin Group Inc. bonds dropped after S&P Global Ratings cut the company's credit rating to the cusp of junk, the latest blow for the Canadian engineering firm at the center of a controversy that's ensnared Prime Minister Justin Trudeau.Risk premiums for the company's bonds due 2023, or the extra yield they pay compared with Canadian benchmark government securities, were quoted at more than 2...Read More
The drugmaker cited generic competition for CopaxoneThe shares of Teva Pharmaceutical Industries Ltd (NYSE:TEVA) have plunged 10% out of the gate to trade at $17.17, after the generic drugmaker reported a fourth-quarter adjusted profit miss of 53 cents per share. And while revenue of $4.6 billion was slightly more than expected, the figure was 16% lower year-over-year due to increased generic comp...Read More
Peru's environmental agency, El Organismo de Evaluaci??n y Fiscalizaci??n Ambiental, (OEFA) has ruled out that a "greenish solution" found in a river near Southern Copper Corp's Cuajone mine was the product of a tailings spill.In a statement late Tuesday, OEFA noted it was still supervising operations at the mine, which is located in an area hit by heavy rains over the past week.Southern Copper...Read More
Chinese President Xi Jinping will reportedly meet with U.S. delegates this FridayDow Jones Industrial Average (DJI) futures are trading more than 100 points above fair value this morning, with traders optimistic about U.S.-China trade talks. Specifically, a report from The South China Morning Post said that a meeting between Chinese President Xi Jinping and U.S. delegates is scheduled for Friday....Read More
The stock is pacing for a roughly 15-year highThe shares of programmable device maker Lattice Semiconductor Corp (NASDAQ:LSCC) had already been barreling higher since hovering around $5.50 from late October to early November, closing Tuesday at $8.18, suffering just one negative week since Christmas. Now, LSCC stock is set to open near 15-year-high territory.Specifically, the security is trading u...Read More
FCX is on track to break through a former ceilingThe shares of Freeport-McMoRan Inc (NYSE:FCX) are up 5% in electronic trading, after Morgan Stanley upgraded the equity to "overweight" from "equal weight," while trimming its price target to $14 from $16. The analyst in coverage thinks FCX will lead its peers in pricing leverage and benefit from improving China demand, and believes the mining name...Read More
Precious metals miner Hochschild Mining (LON: HOC) has been forced to halt operations at its Arcata gold and silver mine in Peru, saying that low silver prices had left the company little choice aside from suspension.Hochschild, which operates three mines in southern Peru and one in southern Argentina, said Arcata would be on "full care and maintenance" by the second quarter of 2019.Any potential...Read More