The latest U.S.-Iran crisis is driving a deepening wedge between gold and black gold. Supply fears are buoying oil, with the precious metal trading at the cheapest relative to U.S. crude since 2014 as a stronger dollar, rising U.S. interest rates and a solid global economy overshadow geopolitical tensions. “The safe-haven trade has just not been there,” ...Read More
The streaming name reported a narrower-than-expected Q1 lossShares of Roku Inc (NASDAQ:ROKU) have jumped 5% to trade at $37.88, after the streaming player provider reported a first-quarter adjusted loss of 7 cents per share -- slimmer than the 15 cents per-share loss analysts were expecting. The company also brought in a better-than-expected $136.6 million in revenue, said software revenue outpace...Read More
Cabot stock has been under pressure from the 50-day moving averageCabot Oil & Gas Corporation (NYSE:COG) is trading lower this morning, after receiving a downgrade to "underperform" from "buy" and a price-target cut to $27 from $33 at BofA-Merrill Lynch. This bear note comes just days after crude pushed to fresh highs above the $70-per-barrel mark, mostly due to President Donald Trump's decision t...Read More
DUBAI (Reuters) - The United Arab Emirates’ introduction of value-added tax has gone smoothly and inflation, having jumped in response, will moderate, the head of the International Monetary Fund’s mission to the country said on Thursday.Natalia Tamirisa said the 5 percent VAT rate imposed at the start of this year was a big cultural and administrative shift in a country that has tradit...Read More
WOODLAND, Calif. (Reuters) - Dan Vincent is in a bind.The president of Pacific Coast Producers (PCP) plans to use around 700 million tin-coated steel cans this year for tomatoes, peaches and pears from 168 growers here in California.His cooperative then sells the canned fruits and vegetables to grocers ranging from Walmart Inc to Kroger Co, as well as food services companies such as Sysco Corp and...Read More
(Bloomberg) - Randgold Resources Ltd. is confident that talks with the Democratic Republic of Congo will lead to a compromise on the country's new mining rules which risk hurting producers' profits.Miners including Glencore Plc and Randgold have asked the government to dial back aspects of the legislation approved by President Joseph Kabila in March. They argue the new code will drive investors a...Read More
B2Gold Corp. (TSX: BTO; NYSE AMERICAN: BTG;NSX: B2G) reports afirst-quarter profit as production and revenues hit record levels, thanks tooutput from the company’s newest mine. Net income totaled $57 million, or 6cents per share, a turnaround from a net loss of $5 million, or a penny, in thefirst quarter of 2017. Adjusted net income was also $57 million, or 6cents, compared to adjusted...Read More
Mr. Derek White reportsASCOT INCREASES TOTAL GOLD RESOURCES AT THE PREMIER-DILWORTH PROPERTIES IN BRITISH COLUMBIAAscot Resources Ltd. has releasedan updated National Instrument 43-101 resource estimate for its flagship Premier-Dilworth property in British Columbia's Golden Triangle. The additional resource includes high-grade zones from the Premier and Northern Lights area, which were modelled us...Read More
BOSTON (Reuters) - Wells Fargo & Co (WFC.N) on Thursday said it expects efficiency efforts to cut expenses by $2 billion annually in 2018 and 2019, and that the aftertax impact on net income of a regulatory cap on its assets will be less than $100 million in 2018.Wells Fargo gave the figures in an investor presentation posted on the San Francisco bank’s website. It said it expects net in...Read More
Mr. Brett Heath of Metalla reportsMETALLA ANNOUNCES FRIENDLY ACQUISITION OF VALGOLD AND ROYALTY ON THE GARRISON PROJECTMetalla Royalty and Streaming Ltd.and Valgold Resources Ltd. have entered into a definitive arrangement agreement whereby Metalla will acquire all of the issued and outstanding common shares of Valgold. Under the terms of the arrangement agreement, all of Valgold's issued and outs...Read More
(Reuters) - Wall Street was set to open higher on Thursday after a weaker-than-expected rise in U.S. consumer prices in April cooled fears of rising inflation.A Labor Department report showed its consumer price index rose 0.2 percent, below the economists’ expectation of 0.3 percent as rising costs for gasoline and rental accommodation were tempered by a moderation in healthcare prices.Exclu...Read More
Crude futures are trading higher again this morningDow Jones Industrial Average (DJI) futures are modestly higher this morning, as oil prices continue to rise on lingering geopolitical tensions and news that Israel launched a military strike against Syria overnight. June-dated crude futures up 0.5% at $71.48 per barrel, at last check, to flirt in four-year-high territory. Traders are also digesti...Read More
The company also raised its full-year outlookHeadset maker Turtle Beach Corporation (NASDAQ:HEAR) is about to open with a monster 63% gain that would have the stock trading in territory not seen in over two years. The company reported first-quarter results that blew away expectations, with new game releases like Fortnite driving a huge increase in headset sales. In fact, revenue surged 185% compa...Read More
LONDON (Reuters) - Bank of England Governor Mark Carney said on Thursday the economic outlook for Britain remained obscured by uncertainty about the terms of its departure from the European Union.“While the storms of February and March have given way to sunnier skies, the economic outlook for the UK remains clouded by Brexit uncertainties,” Carney said in a speech after the BoE left in...Read More
Dual-listed Dalradian Resources (TSX:DNA) (LON:DALR) published Thursday a resource update for its Curraghinalt gold project in Northern Ireland showing a 46% increase in gold ounces and a 32% increase in inferred gold ounces when compared to the previous feasibility study from 2016.Inferred resources rose by 32% to 3.0 million ounces of gold in 7.7 million tonnes of ore with a grade of 12.2 grams...Read More
U.S. consumer prices rebounded less than expected in April as rising costs for gasoline and rental accommodation were tempered by a moderation in healthcare prices, pointing to a steady buildup of inflation.The Labor Department said on Thursday its Consumer Price Index rose 0.2 percent after slipping 0.1 percent in March. In the 12 months through April, the CPI increased 2.5 percent, the biggest g...Read More
Dual-listed Dalradian Resources (TSX:DNA) (LON:DALR) published Thursday a resource update for its Curraghinalt gold project in Northern Ireland showing a 46% increase in gold ounces and a 32% increase in inferred gold ounces when compared to the previous feasibility study from 2016.Inferred resources rose by 32% to 3.0 million ounces of gold in 7.7 million tonnes of ore with a grade of 12.2 grams...Read More
(Kitco News) - Hecla Mining Co. (NYSE: HL) remained profitable in the firstquarter despite the continuation of a strike at the Lucky Friday Mine in Idaho,the company reported Thursday.Net income fell to $8.1 million, or 2 cents pershare, from $26.7 million, or 7 cents, in the first quarter of 2017. Thecompany listed several factors for the decline, including a tax benefit thathelped the year-ago r...Read More
(Kitco News)- Gold has shown remarkable resilience in the face of a strongerdollar. Geopolitical tensions have created some support but the oil price surgemay create an acceleration of inflation, within the context of the Fed nowprepared to look at their inflation target in a symmetrical fashion. This mayprove to be a head fake to the upside and we suggest waiting for confirmationon a close above...Read More
(Kitco News)- Initialweekly U.S. jobless claims remain near their lowest level in 49 years, with aseasonally adjusted data remaining unchanged at 211,000 in the week toSaturday, the Labor Department reported.Consensusforecasts compiled by various news organizations had called for initial claimsto be around 219,000. The government left the prior week's tally unrevised at211,000. Meanwhile,the four-...Read More