Call activity was above the norm on MIME and VOYA on MondayScanning today's market activity, one of the biggest gainers is email solutions specialist Mimecast Ltd (NASDAQ:MIME). The shares were last seen trading up 19.7% at $51.24, already tapping a record high of $51.66, as Wall Street reacts to the firm's quarterly report, which revealed better-than-expected results and an upbeat outlook. A ton...Read More
Is it time to prepare for the next financial crisis?Something strange is going on in the financial system.And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.What exactly is going on?Former hedge fund manager, Dr. Steve Sjuggerud, one of the most widely-followed financial analys...Read More
A tentative bipartisan budget deal was reached earlier this morningThe Dow Jones Industrial Average (DJI) is up over 300 points at midday, enjoying a steady climb after a tentative bipartisan budget deal was reached to keep the government open beyond the Feb. 15 deadline. Meanwhile, the U.S. and China are progressing on trade talks as negotiations enter the second day in Beijing. The S&P 500 Inde...Read More
Gold stocks have to do more to confirm they are in a new bull market.Sure, they've surged above key moving average resistance and breadth has improved.However, the gold stocks have not yet broken the pattern of lower highs and breadth, while improved, is not at bull market levels yet. Let's review where things currently stand.In recent weeks GDX and GDXJ surged above the critical 400-day moving av...Read More
Both the WGC and LBMA published outlooks for the global economy and gold market in 2019. Who is right?WGC's Outlook for gold in 2019Let's start from the World Gold Council (WGC) which published its 2019 outlook on January 10th. As befits the organization representing industry's interests, the WGC is bullish on gold prices. No surprises here. According to the institution, the following trends will...Read More
South Africa's Sibanye-Stillwater said on Tuesday it was considering measures, including restructuring if alternative solutions could not be found to bring loss-making gold shafts back to profitability. Gold producers in Africa's most industrialised economy, which have some of the world's deepest mines, have seen profits squeezed by rising costs, labour unrest and declining grades.Sibanye said it...Read More
Australia's largest gold producer, Newcrest Mining, (ASX: NCM) is selling its S?(C)gu?(C)la gold project and its portfolio of 11 exploration tenements in C??te d'Ivoire to Canada's Roxgold (TSX: ROXG) in a deal valued at $30 million.The Toronto-based miner will pay $20 million upfront, followed by a $10 million deferred payment due if and when S?(C)gu?(C)la reaches production.S?(C)gu?(C)la will b...Read More
The company lowered its first-quarter and full-year guidance Varonis Systems Inc (NASDAQ:VRNS) is already shaping up to be one of the worst stocks on the Nasdaq today -- down 17.5% at $52.79, at last check. The cybersecurity concern last night lowered its full-year and first-quarter guidance, and said it was shifting to a subscription-based model.Now, VRNS is pacing for its worst day since May 201...Read More
Bernstein upped its EA price target, tooElectronic Arts Inc. (NASDAQ:EA) stock is trading up 4.6% at $101.69, on news the company's battle royale game "Apex Legends" hit 25 million registered users following its release late last week. A price-target hike to $120 from $91 at Bernstein is only fueling the bullish flames, and EA options traders are rushing to get in on the action.Already today, 46,0...Read More
* Harmony Gold H1 profit slumps 94 pct* Firm in talks to build solar power plantSouth African miner Harmony Gold is in talks to build a 30 megawatt solar power plant in the Free State province to supply power to some of its operations to try to reduce power costs and dependence on struggling utility Eskom.Eskom, which produces over 90 percent of South Africa's electricity, is saddled with more tha...Read More
Key levels to watch for FXI as U.S.-China trade talks drag closer to the March deadlineGiven the steady stream of daily "will they-or-won't they" headlines with regard to U.S.-China trade deliberations, it may surprise you to learn that the iShares China Large-Cap ETF (NYSEARCA:FXI) has been unusually subdued on the charts lately. As of Friday, the exchange-traded fund's (ETF's) 30-day historical...Read More
China is adding to its gold reserves again, boosting holdings for a second month and reinforcing an outlook from bulls including Goldman Sachs Group Inc. that central-bank buying will likely remain strong this year.The People's Bank of China raised holdings to 59.94 million ounces, or about 1,864 metric tons, by the end of January from 59.56 million ounces a month earlier, according to data on the...Read More
The autonomous Papua New Guinea region of Bougainville has rejected controversial changes to its Mining Act, which were said to be aimed at letting a new company extract the island's riches.The modifications would have jeopardized land rights currently held by Australia's Bougainville Copper Ltd. (BCL), which used to run Panguna, one of the world's biggest open-pit copper operations, shut down by...Read More
The autonomous Papua New Guinea region of Bougainville has rejected controversial changes to its Mining Act, which were said to be aimed at letting a new company extract the island's riches.The modifications would have jeopardized land rights currently held by Australia's Bougainville Copper Ltd. (BCL), which used to run Panguna, one of the world's biggest open-pit copper operations, shut down by...Read More
Shares in Australia's Northern Star Resources (ASX: NST) jumped Tuesday after it said that drilling results from its Pogo gold mine in Alaska pointed to a significant increase in resources and a substantial maiden reserve.The A$35 million ($25m) exploration and concentrated infill drilling campaign, using four underground and four surface rigs, has increased the existing JORC-compliant resource of...Read More
A handful of bear notes is exacerbating headwinds for GILDThe shares of Gilead Sciences, Inc. (NASDAQ:GILD) are down 3.1% in electronic trading, after the biotech said a late-stage trial for its Non-Alcoholic Steatohepatitis (NASH) drug, selonsertib, failed to its main goal. Specifically, the treatment did not improve liver scarring when compared to a placebo in the nearly 900 patients enrolled in...Read More
The U.S. and China continue to work out a trade deal before the March 1 deadlineDow Jones Industrial Average (DJI) futures are trading 186 points above fair value this morning, after U.S. lawmakers reached a tentative bipartisan budget deal to avoid a government shutdown ahead of this Friday's deadline. Meanwhile, on the global economic front, both the U.S. and China are scrambling to reach a trad...Read More
Short interest on Zscaler surged 49% in the two most recent reporting periods Cloud security name Zscaler Inc (NASDAQ:ZS) has had a strong start to 2019 -- up 23.6% so far, compared to a slimmer 8% gain for the S&P 500 Index (SPX). There's plenty of skepticism priced into the stock, too, which could keep the wind at ZS' back as it's unwound.For starters, seven of 11 analysts maintain a "hold" or "...Read More
COTY has already gained 47% year-to-dateFew stocks have had as hot a start as Coty Inc (NYSE:COTY), up 47% year-to-date. The cosmetics name is poised to add to those gains, after investment firm JAB Holding, the company's largest stakeholder, issued a tender offer to add 150 million more shares at a price of $11.65, compared to yesterday's closing price of $9.66, upping its potential stake to 60%...Read More
CHGG was last seen up nearly 10% in electronic tradingThe shares of education technology company Chegg Inc (NYSE:CHGG) are set to rally once again after earnings, after the firm's fourth-quarter financial update revealed better-than-expected earnings and revenue for the period. The company continued to add subscribers and raised its 2019 outlook, as well. A few bullish analyst notes have followed,...Read More