Shares GlycoMimetics Inc (NASDAQ:GLYC) are spiraling, after the biotech said the main objective of a late-stage trial for its acute myeloid leukemia is overall survival -- disappointing investors who believed the remission rate was the main goal, according to Stifel. The company also reported a fourth-quarter loss, and at last check, the pharma stock was down 21.7% to trade at $17.87 -- gapping be...Read More
Shares of Fifth Third Bancorp (NASDAQ:FITB) have been soaring on the charts, recently ascending with the help of their 40-day moving average. The banking concern has picked up almost 9% year-to-date -- outperforming the broader S&P 500 Index -- and recently touched a 10-year high of $34.09 on Feb. 27. What's more, March and April tend to be the best two months of the year for financial stocks, wi...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
Shares of Fate Therapeutics Inc (NASDAQ:FATE) are down 8.5% out of the gate to trade at $12.64, after the stem cell treatment specialist reported a wider-than-expected fourth-quarter loss. Adding to the bearish buzz are downgrades to the equivalent of a "neutral" rating at both Raymond James and H.C. Wainwright, though the latter joined three other brokerages in raising their FATE price targets. I...Read More
BRUSSELS (Reuters) - Clothing, orange juice, cosmetics and other products from the United States may be subject to European Union duties if U.S. President Donald Trump carries out his threat to impose global import duties on steel and aluminum.The European Commission has said it would respond “firmly” to proposed U.S. import duties of 25 percent on steel and 10 percent on aluminum. It...Read More
LONDON (Reuters) - Macquarie (MQG.AX) is trying to pull out of the Russian-focused infrastructure fund it manages after some of the investments underperformed, three industry sources and a banker said.The fund, the first major private fund dedicated to infrastructure in Russia and the CIS when it was set up in 2008, owns debt in Brunswick Rail and equity stakes in energy suppliers Enel Russia (ENR...Read More
News reports suggesting North Korea is open to discussions about denuclearization are providing a lift to stock futures this morning. South Korea made the surprising announcement following its meeting with the rogue nation, which said it would be willing to give up nuclear weapons if its safety is not in jeopardy. The two nations will hold a summit at the end of April. As such, the Dow Jones Indus...Read More
LONDON (Reuters) - World share markets regained ground on Tuesday as news that the United States and North Korea will meet for talks next month came on top of hopes that President Donald Trump’s political allies would convince him to avoid a global trade war.The broadest gauge of global stocks, MSCI’s All Country World Index, was up more than 0.6 percent for a second day and Wall Stree...Read More
AUSTIN, Texas (Reuters) - The 2018 U.S. primary elections kick off on Tuesday in Texas, where Democrats hope record-high levels of early voter midterm turnout and anger over President Donald Trump’s policies will help them flip congressional seats from Republican control.Democratic turnout in the state’s largest 15 counties hit 465,245 in early voting, according to the Texas secretary...Read More
NEW YORK (Reuters) - Target Corp (TGT.N) reported profit in the holiday quarter that fell short of analyst estimates on Tuesday, hurt by investments aimed at improving the competitiveness of its online operations and stores, sending shares down 2 percent in premarket trading.The big-box retailer has missed Wall Street’s fourth-quarter profit expectations for the past two years.Target is slat...Read More
One of the potential outcomes of a tradewar is that other nations start dumping U.S. Treasury securities, which couldboost gold demand, says Goldman Sachs. Analysts put out a detailed researchreport outlining how U.S. President Donald Trump’s proposed tariffs on aluminumand steel could impact those metals as well as the industries that rely onthem, both producers and consumers. Yet another i...Read More
Mr. Jean-Sebastien David reportsARIANNE BEGINS R&D EFFORT TO INTEGRATE ALUMINUM INTO ITS TRUCK TRAILERSArianne Phosphate Inc. has started research and development work to integrate aluminum in the design of the trailer that will transport the phosphate concentrate from the Lac a Paul mine to the deepwater port that will be located in Sainte-Rose-du-Nord. The work will be done by the National R...Read More
SHANGHAI/BEIJING (Reuters) - China’s central bank will probably have to respond to an expected U.S. interest rate rise at a particularly sensitive time later this month.Zhou Xiaochuan, the long-serving People’s Bank of China (PBOC) governor, is widely expected to be replaced during the annual meeting of China’s parliament, which started in Beijing on Monday.The U.S. Federal Reser...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
WASHINGTON (Reuters) - Automakers, business groups and farmers took their fight against U.S. President Donald Trump’s proposed tariffs on steel and aluminum to Capitol Hill on Monday, betting that Republican lawmakers would stand up to the White House on their behalf.By turning to Congress, lobbyists for industries that could lose in a trade war are making a bet that Republican lawmakers wou...Read More
(Reuters) - U.S. stock futures pointed to a higher opening on Tuesday on the prospect of talks between North Korea and the United States and increasing resistance to President Donald Trump’s proposed metals tariffs.North and South Korea will hold their first summit in more than a decade in late April, the South’s presidential office said on Tuesday, adding that North Korea was open to...Read More
SEOUL (Reuters) - North Korea is willing to hold talks with the United States on denuclearization and will suspend nuclear tests while those talks are under way, the South said on Tuesday after a delegation returned from the North where it met leader Kim Jong Un.North and South Korea, still technically at war but enjoying a sharp easing in tension since the Winter Olympics in the South last month,...Read More
(Adds details, quotes, context)MOSCOW, March 6 (Reuters) - Russia's Norilsk Nickel reported a 16 percent drop in 2017 net profit on Tuesday due to a smaller foreign exchange gain, but was optimistic about prospects for its largest revenue generator palladium, saying a market deficit could widen.Norilsk Nickel (Nornickel) is the world's top palladium producer. It also vies with Brazilian miner Vale...Read More
LONDON (Reuters) - The dollar edged down on Tuesday, while the Canadian dollar traded close to an eight-month low on persistent worries about a trade war stemming from U.S. President Donald Trump’s proposed tariffs on imported steel and aluminium.Against the yen - traditionally seen as a safe haven - the dollar edged down 0.2 percent to slip below 106 yen, not far from the 16-month low the g...Read More