Oppenheimer expects one penny stock to more than doublePenny stock AzurRx BioPharma Inc (NASDAQ:AZRX) is higher today, after analysts predicted the stock will more than double. Specifically, Oppenheimer initiated coverage of AZRX with an "outperform" rating and a $6 price target -- a premium of 140% to yesterday's close, and in record-high territory. Similarly, the shares of generic drugmaker Akor...Read More
BRUSSELS (Reuters) - Italian Prime Minister Giuseppe Conte said on Wednesday he believed there was no room for changing the Italian draft budget for 2019, which the European Union worries would breach the bloc’s fiscal rules and increase Italy’s debt.“We have prepared (the budget) very carefully. Therefore I think there is no room for change,” Conte told reporters on arrivi...Read More
(Reuters) - A U.S. Treasury Department official has been criminally charged with leaking confidential documents relating to former Trump campaign chairman Paul Manafort, the Russian embassy and others, to a reporter from digital media company BuzzFeed, Manhattan federal prosecutors announced Wednesday.Natalie May Edwards was arrested on Tuesday and charged with unlawfully disclosing suspicious act...Read More
AXP is just above breakeven year-to-dateAmerican Express Company (NYSE:AXP) is trading slightly lower this afternoon, after Oppenheimer lowered its price target on the Dow name to $111 from $113. This bear note is not completely unheard of for AXP, as 10 out of 19 covering firms sport tepid "hold" ratings. What's more, it comes just before the lending company is scheduled to report third-quarter e...Read More
WASHINGTON (Reuters) - White House economic advisor Larry Kudlow said on Wednesday that U.S. President Trump was not demanding a policy change at the Federal Reserve after Trump heaped more criticism on the Fed on Tuesday, calling rising U.S. interest rates his “biggest threat.”In what has emerged as a pattern recently, the administration official sought the day after Trump’s com...Read More
(Reuters) - Several public funds with holdings in Facebook Inc on Wednesday backed a proposal to remove Chief Executive Officer Mark Zuckerberg as chairman.The proposal, originally bought to the table by hedge fund Trillium Asset Management, is now backed by state treasurers from Illinois, Rhode Island and Pennsylvania. New York City Comptroller Scott Stringer also joined the shareholder proposal....Read More
Hedge funds that doubled down on bearish gold wagers are facing a gut check.The metal is in the middle of a surprise advance, posting the fastest rally since the Brexit vote as a surge in haven demand combines with seasonal buying. The sudden snap of its unlucky streak - bullion has declined every month since April - blindsided fast-money investors, but that could be good for gold bugs.Here's the...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
Options traders are expecting a bigger-than-normal post-earnings move from NUENucor Corporation (NYSE:NUE) reports earnings before the open tomorrow, Oct. 18, and the stock has been selling off ahead of the event. NUE shares were last seen down 0.6% at $58.62, setting them up for the lowest close of 2018. The equity fell through long-term support at the 320-day moving average earlier this month, a...Read More
BRUSSELS (Reuters) - The United States demanded rapid results on Wednesday from its trade talks with the European Union and complained that the bloc was stalling progress.“Our purpose in the meeting was to stress the need for speed and of getting to near-term deliverables, including both tariff relief and standards,” U.S. Commerce Secretary Wilbur Ross told a briefing in Brussels.&ldqu...Read More
(Kitco News) - The International Monetary Fund’s (IMF) economic report of higher risks and slower global economic growth, highlights gold’s relevance in investors’ portfolios, said the World Gold Council (WGC).“The IMF signaled in its 2018 Global Financial Stability Report, an increase in commonly used metrics of risk highlight the relevance of including gold in a portfolio...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term. Create your own user feedback survey Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our...Read More
WASHINGTON (Reuters) - The U.S. economy sits atop of the World Economic Forum’s annual global competitiveness survey for the first time since the 2007-2009 financial crisis, benefiting from a new ranking methodology this year, the Swiss body said on Tuesday.In its closely-watched annual Global Competitiveness Report, the WEF said the U.S. is the country closest to the “frontier of comp...Read More
WASHINGTON (Reuters) - President Donald Trump on Wednesday said he will ask every cabinet secretary for proposals to cut their budgets 5 percent.As a candidate in the 2016 presidential election, Trump pledged to slash government spending and regulation, and many fellow Republicans going into November congressional elections have picked up the theme in their own campaign promises.Reporting by Steve...Read More
(Kitco News) - Miners have to just wait out the cannabis frenzy until thebubble pops for investor capital to flow back into the metals space, thisaccording to mining executives and fund managers.Marijuana stocks are approaching pre-2001 Nasdaq levels ofovervaluation, and it's not a matter of "if," as much as it is amatter of "when" the cannabis space collapses on the same scale...Read More
Netflix is bucking the broad-market downturn after upbeat earningsThe Dow Jones Industrial Average (DJI) is down at midday, pressured by lackluster IBM Corp (IBM) earnings. Investors are also warily eyeing housing starts for September, which fell by a larger-than-expected margin and put added pressure on newly downgraded blue-chip Home Depot (HD). The S&P 500 Index (SPX) and Nasdaq Composite (IXI...Read More
(Reuters) - U.S. stocks fell on Wednesday, a day after Wall Street’s strongest rally in seven months, as investors were disappointed with IBM’s results and remained cautious ahead of the minutes of Federal Reserve’s latest meeting.Shares of IBM dropped 6.3 percent after the company’s quarterly revenue fell more than expected, pointing to a bumpy recovery for the member of t...Read More
(Reuters) - Banks, including underwriters of SoftBank Group’s (9984.T) initial public offering of its mobile unit, are finalizing terms for a $9 billion loan to its Vision Fund, Bloomberg reported on Wednesday, citing people familiar with the matter.Reuters reported earlier this month that SoftBank had picked up five investment banks, including units of Nomura Holdings Inc (8604.T) and Goldm...Read More
Mr. Derek White reportsASCOT COMPLETES ACQUISITION OF THE PREMIER PROPERTY Ascot Resources Ltd. has completed the previously announced purchase of the Premier property held by Boliden Ltd., which is located in Stewart, B.C.Derek White, president and chief executive officer of Ascot Resources, commented: "We are pleased to have successfully closed this transaction and look forward to the successful...Read More
Mr. Stephen Nano reports MIRASOL SIGNS AGREEMENT WITH HOCHSCHILD MINING FOR OPTION TO JOINT VENTURE ON THE INDRA PRECIOUS METALS PROJECT, CHILEMirasol Resources Ltd. has signed a binding letter agreement for the Mirasol's Indra epithermal precious metals project in Chile with Hochschild Mining PLC.As detailed in Mirasol's Aug. 29, 2018, press release, the agreement gives Hochschild the right to ac...Read More