Discount retailers Dollar Tree, Inc. (NASDAQ:DLTR) and Dollar General Corp. (NYSE:DG) earned some analyst love today, after Oppenheimer initiated coverage with "outperform" ratings. The brokerage attributed the bullish notes to attractive growth prospects for the retailers over the long term, initiating price targets of $130 and $112, respectively, for DLTR and DG stocks -- in uncharted territory....Read More
Apple Inc. (NASDAQ:AAPL) has put in a strong technical performance over the long term, with the stock boasting a 46.8% year-over-year lead -- and fresh off yesterday's record high of $179.39. And while the bulk of the 29 analysts covering shares maintain a "buy" or better rating, Longbow Research issued a rare Apple downgrade this morning.Specifically, the brokerage firm cut its rating on AAPL sto...Read More
(Kitco News) - Those heady Bitcoin-U.S. dollar traders who climbed onboard the bullish bandwagon after prices pushed above $10,000 a few weeks agoare now under water--after many had doubled their money in just a short time.Bitcoin-U.S. Dollar prices have careened lower in late-morning tradingWednesday and hit a six-week low. The weak-handed longs are bailing out oftheir big losing positions, and t...Read More
(Adds new quote, adds BoE speech details, updates prices)* Graphic: sterling and gilt yields * Graphic: World FX rates in 2017 * Graphic: Trade-weighted sterling since Brexit vote By Tommy Wilkes and Jemima KellyLONDON, Jan 17 (Reuters) - Sterling steadied close to its highest levels against the dollar since Britain's vote to leave the European Union in 2016 on Wednesday, as traders took profits...Read More
(Kitco News) - The Bank of Canada raised its key interest rate to 1.25% on Wednesday, hiking rates for the third time since last summer. Gold priced in Canadian dollars jumped up on the news, last trading at C$1,668.18 an ounce, up 0.24% on the day, according to Kitco’s Gold-Currency charts. The decision was widely expected, as market odds projecting a rate hike were close to 90% prior to th...Read More
* "Urban mines" have materials from cobalt to copper - EU project* Electronic waste worth billions of dollars in Europe By Alister DoyleOSLO, Jan 17 (Reuters) - Some of Europe's richest deposits of valuable materials are in the trash, ranging from gold in smartphones to cobalt in electric car batteries, according to a survey of urban mining published on Wednesday.Scrap vehicles, batteri...Read More
Drug stock Celgene Corporation (NASDAQ:CELG) is trading 1.6% lower at $103.13, after the Wall Street Journal reported the company is in talks to buy Juno Therapeutics (JUNO) (subscription required). According to the Journal, CELG -- who is already the largest shareholder of JUNO stock -- could produce a deal in the coming weeks. This comes after Celgene last weeksaid it would buy Impact Biomedici...Read More
Nicaragua-focused Condor Gold (LON:CNR) (TSX:COG) expects to begin construction at its 100%-owned La India Project in the first half of the year, following the reception of final permits currently being processed by the country's government.The company, which just this week started trading in the Toronto Stock Exchange, knows that acquiring the pending licences would not only represent a signifi...Read More
Nicaragua-focused Condor Gold (LON:CNR) (TSX:COG) expects to gain all the necessary permits for its 100%-owned La India Project in the first half of the year, chief executive Mark Child said.The company, which just this week started trading in the Toronto Stock Exchange, knows that acquiring the pending licences would not only represent a significant milestone, but it would also materially de-ri...Read More
* Reserve bank interest rate decision due on Thursday* Rand recovery, politics boost rate cut chances* Markets point to 56 pct chance of 25 basis point cut By Mfuneko ToyanaJOHANNESBURG, Jan 17 (Reuters) - South Africa's central bank is most likely to cut interest rates by 25 basis points on Thursday, forward markets showed on Wednesday, as the rand currency continues its rally and political tens...Read More
Shares of oncology biotech Halozyme Therapeutics, Inc. (NASDAQ:HALO) are trading 12.2% lower before the open, after Deutsche Bank analyst Andrew Peters cut his price target by $2 to $19. Peters labeled the company's experimental enzyme for hyaluronic acid (HA) as "disappointing" and said the development of the treatment brings on additional risk. On the other hand, Peters noted Halozyme's Enhanze...Read More
NEW YORK, Jan 17 (Reuters) - The dollar held its earlier gains versus a basket of currencies on Wednesday as stronger-than-forecast data on domestic industrial output in December supported the notion of a steady U.S. economic expansion. At 9:27 a.m. (1427 GMT), the index that tracks the greenback against six other major currencies was last up 0.27 percent at 90.639. It fell to a three-year low ear...Read More
One day after the Dow Jones Industrial Average (DJI) took a brief trek north of 26,000 for the first time ever, futures on the blue-chip index are signaling a triple-digit jump out of the gate. Financial earnings continue to be in focus, with Goldman Sachs (GS) stock lower in pre-market trading after the big bank posted its first quarterly loss in six years, though profit beat on an adjusted basis...Read More
The U.S. dollar index is stabilizing Wednesday, afterfalling to a three-year low, but, Lukman Otunuga, research analyst at FXTM,questions whether this is the start of a new uptrend. “Heightened politicaluncertainty in Washington is likely to weigh heavily on the Dollar and may fuelthe downside,” he says. “Dollar bulls are clearly struggling to find freshinspiration from Fed hike...Read More
(Refiles to fix typo in 8th paragraph)* Graphic: World FX rates in 2017 By Saikat ChatterjeeLONDON, Jan 17 (Reuters) - The euro fell nearly half a percent on Wednesday after rocketing to a fresh three-year high above $1.23 as some investors ramped up bullish bets about the currency, though concerns voiced by policymakers this week damped broader optimism.Reflecting the apparent disquiet among som...Read More
(Kitco News) - Gold continues to consolidate,awaiting further signals on the direction of the dollar. Recent comments by BOJand ECB officials on concerns around the strengthening of the yen and euro againstthe dollar have created a pause in the dollar weakness. Yesterday's reversal inthe Dow from an opening 200 plus point gain to a negative close is alsocreating speculation that the equity market...Read More
(Kitco News) - Gold pricesare just a bit lower in early U.S. trading Wednesday, on some minorbacking and filling on the charts after prices scored a four-month high onTuesday. February Comex gold was last down $1.40 an ounce at $1,335.60. March Comex silver was last up $0.021 at $17.21 an ounce.Goldand silver market bulls are still sitting comfortable, amid their positivechart postures, a deprecia...Read More
Once again, the master manipulators, better known as theFederal Reserve, are manipulating dollars to try and keep interest rates low.They are scared to death that rates will get away from them, as they have everytime. They have tried to control and keep them artificially low.The entire QE program has been a debt building bust, fromBernanke through Yellen and there are no real changes expected. The...Read More
Presidential candidate for the conservative National Integration Party (PIN in Spanish), Diego Castro, caused controversy in Costa Rica after he called environmentalist groups "eco-terrorists."Castro, who has been compared by local media to Donald Trump and Rodrigo Duterte, as well as accused of right-wing populism, said that if he wins the election, he would not yield to ecologists' "petty demand...Read More
Mr. Anthony Makuch reportsKIRKLAND LAKE GOLD TARGETS HIGHER PRODUCTION, IMPROVED UNIT COSTS IN 2018 GUIDANCE, ANNOUNCES NEW SHAFT PROJECT FOR MACASSAKirkland Lake Gold Ltd. has provided the company's full-year guidance for 2018, which includes increased production, improved unit costs, andhigher levels of capital and exploration expenditures in support of the company's objective of growing annual...Read More