JNJ has seen support near $135Shares of pharmaceutical giant Johnson & Johnson (NYSE:JNJ) are slightly higher in today's trading, last seen up 0.1% at $136.16. Traders aregearing up for first-quarter earnings, which are slated for before the market opens, tomorrow, April 16. Below we will take a look at how JNJ has been faring on the charts, and see what the options market is pricing in for its p...Read More
Movements in base metals prices on the London Metal Exchange were mixed at the close of trading on Monday April 15, with continued weakness in the US dollar index doing little to spur buying activity while low volumes continued to indicate risk-aversion.The three-month nickel price fell to its lowest level since March 28 in the afternoon, dipping to $12,860 per tonne before closing at $12,991 per...Read More
The drugmaker halted a mid-stage trial in bladder cancer patientsClovis Oncology Inc (NASDAQ:CLVS) late Friday said it was discontinuing a mid-stage trial of its lead cancer drug, rucaparib, in bladder cancer patients following the recommendation of an independent committee. Although CLVS said it will continue current late-stage trials testing the drug as a treatment for ovarian and prostate cance...Read More
The company will report earnings after the close tomorrowIt's earnings season, everyone. The first FAANG name up is Netflix, Inc. (NASDAQ:NFLX), set to release its quarterly report after the close tomorrow, April 16. Ahead of the event, NFLX call options have been flying off the shelves lately, and the shares just flashed a historically bullish signal on the charts. In fact, the equity showed up...Read More
Earnings disappointments from Goldman Sachs and Citigroup continue to weigh on indexesThis morning's disappointing earnings report from Goldman Sachs (GS) continues to weigh on the Dow Jones Industrial Average (DJI), while a negative earnings reaction for fellow bank stock Citigroup (C) is dragging the S&P 500 Index (SPX) into the red. Elsewhere, traders are still digesting Treasury Secretary Ste...Read More
Key data from the pricing session in London on Friday April 12.China Key drivers ?EUR? The Chinese grade 553 silicon export price remained unchanged at $1,520-1,600 per tonne on Friday April 12 due to thin inquiries and deals. ?EUR? Weak market sentiment was driven by softer demand abroad and fierce competition with off-grade materials. ?EUR? In addition, the export price is likely to be under pre...Read More
Here are five Fastmarkets MB stories you might have missed on Monday April 15 that are worth another look.Rusal intends to start an aluminium rolling mill in Kentucky, a key region for US aluminium production, with US holding company Braidy Industries Inc, the Russian aluminium producer said. Rio Tinto has committed $302 million of additional capital to advance its Resolution Copper...Read More
BPTH stock is up 553% year-to-dateThe shares of Bio-Path Holdings Inc (NASDAQ:BPTH) jumped more than 34% out of the gate, marking the biotech's first trek above the round $20 mark since April 3. Boosting the shares is Bio-Path's request to the Securities and Exchange Commission (SEC) to withdraw a stock offering, after issuing a prospectus filing in March.More recently, BPTH stock has accelerated...Read More
ULTA has been climbing the charts all yearShares of Ulta Beauty Inc (NASDAQ:ULTA) are up 1.7% at $350.86, thanks to some early morning bull notes. J. P. Morgan Securities raised its ULTA price target by $45to $390, citing potential upside from reality star Kylie Jenner's makeup line, and said the cosmetics retailer is "well-positioned" for strong top-line performance. Morgan Stanley also chimed in...Read More
Analysts and options traders alike are bullish on SPOTThe shares of Spotify Technology SA (NYSE:SPOT) are down 4.2% to trade at $138.91 this morning, under pressure from news of increased competition in the streaming space. More specifically, on late Friday Billboard reported Amazon.com (AMZN) plans to launch a free, ad-supported music-streaming service. Amazon will be able to market its new offe...Read More
The shares of MKTX and TW have been solid on the chartsFintech stocks MarketAxess Holdings Inc. (NASDAQ:MKTX) and Tradeweb Market Inc (NASDAQ:TW) are in focus this morning after an analyst note out of Rosenblatt Securities. The brokerage firm sees ongoing growth trends for the businesses thanks to expanded electronic trading adoption and analytics capabilities, calling MKTX and TW "unique assets"...Read More
StrengthsThe best performing metal this week was palladium, up 0.24 percent as hedge funds cut bullish positioning to a six-month low, perhaps resetting expectations. Gold traders turned heavily bullish this week after being neutral last week as the Federal Reserve signaled interest rates will be on hold, ac...Read More
Dear Friend of GATA and Gold:Thanks to Zero Hedge for calling attention tonight to the interview of the Zurich-based financial letter The Market with James Grant, editor of Grant's Interest Rate Observer, wherein Grant remarks that the Federal Reserve is manipulating the stock market up and interest rates down. Grant calls the latter rigging "very near to a crime."But as always Grant has nothing...Read More
Investors have thrown caution to the wind as they bid up FAANG stocks to imprudent heights and provide overly generous bids for a few others that face serious jeopardy, including Tesla and Boeing. Even so, the herd evidently had second thoughts about one stock on Friday, pummeling the shares of Netflix when competitor Disney announced a new streaming service that will be bargain priced at $6.99...Read More
CFO Corie Barry will replace Hubert Joly as BBY CEOThe shares of Best Buy Co Inc (NYSE:BBY) are down slightly in early trading after the electronics retailer announced that current Chief Financial Officer (CFO) Corie Barry would take the place of Hubert Joly as CEO. Joly has served as CEO since 2012, and is stepping down to serve as the executive chairman of the company. As a result, BBY stock is...Read More
Citigroup, meanwhile, is higher after earningsDow Jones Industrial Average (DJI) futures are trading below fair value this morning, with the blue-chip index poised to take a breather after Friday's big gains. Bank earnings remain in focus today, with Goldman Sachs (GS) stock lower ahead of the bell after the financial firm reported weaker-than-expected revenue. A quarterly profit beat for Citigrou...Read More
Large speculators have an extreme net short position as the VIX tests 2018's floor"It's hedge funds, who have stubbornly refused to embrace stocks even as global equities added $10 trillion in value over the last three months. At the end of March, their net exposure as measured by the ratio of bullish bets to bearish ones stood near the lowest level in more than a year, client data compiled by JPM...Read More
URGENT PAIR XAU/USD (GOLD): UPTREND 3hr CHART This week gold and wti both will be opposite to each other, while gold buy will start by current level ending with a higher high on the other hand wti will continue to fall from the currrent level one way and remains downside. 1.BUY XAU/USD (GOLD): ENTRY: 1289.07, TARGET: 1303.29/1320.29, SUPPORT: 1276.02 FXStreet Forex Interactive Ch...Read More
Teranga is interested in Barrick's Massawa project in Senegal, which is likely to be put for sale soon.The project is adjacent to Teranga's Sabodala mine, which would allow it to achieve significant synergies.I think that IAMGOLD is also likely to be interested in Massawa, but Teranga has better chances to acquire the project thanks to its cornerstone investor David Mimran. Introduction Barrick Go...Read More
Chinese trading house ASK Resources has moved into the European market, hiring Guillaume Taieb to open an office in Geneva, Switzerland.ASK had a turnover of $900 million in 2018, trading mainly in copper but also in zinc, aluminium and nickel, Taieb said.The...Read More