Amazon and a handful of blue chips will reportEarnings season continues full speed ahead, with no fewer than 10 blue chips slated to report. Included in the list of Dow names reporting earnings next week are Coca-Cola (KO), Caterpillar (CAT), Procter & Gamble (PG), and Visa (V). Also on deck will be a handful of big-name retail, food, and social media giants, including Starbucks (SBUX), Facebook (...Read More
The May 35 put was popular on SKX stock in recent weeksSkechers USA Inc (NYSE:SKX) stock is down 14.3% at $30.19, set to snap its four-day win streak.Today's drop is sparked by the shoemaker's first-quarter earnings of 71 cents per shares, which was less than analysts were expecting. The company's quarterly revenue of $1.28 billion also missed the mark, as did its current-quarter profit and revenu...Read More
Base prices in Europe for stainless steel grade-304 bright bar edged higher this week because of steel mills' ambitions to strengthen their margins, traders told Fastmarkets on Thursday April 18.The outlook for demand was fairly pessimistic, however, and some traders believed that the gains would be short-lived as a result."April will be quite weak, I believe, once we can see the whole month. And...Read More
CVS has shed 19% so far this year and is trading near six-year lowsShares of CVS Health Corp (NYSE:CVS) are moving lower in this morning's trading, last seen down 0.3% at $52.37. The drugstore chain received a price-target cut to $75 from $90 at Raymond James, and although Guggenheim initiated coverage with a "buy" rating, the firm lowered its price target by 25% to $63, with the latter noting it...Read More
Both retail stocks could soon slice up shortsFollowing Tiger Woods' historic Masters win last Sunday, Jefferies weighed in on golf retailers Callaway Golf Co (NYSE:ELY) and Acushnet Holdings Corp (NYSE:GOLF). The brokerage firm noted the growing golf trend is not just because of the return of 'Tiger-mania.' Said analyst Randal Konik, on-course golf participants grew in 2018 for the first time in...Read More
SBUX could enjoy more analyst-induced tailwindsAn analyst at Jefferies weighed in on what he refers to as the "third wave" of coffee shops, or those artisan local cafes, and their effect on Starbucks Corporation (NASDAQ:SBUX). The brokerage firm believes SBUX can effectively compete because of its scale and technology infrastructure, even if it's not as "hip" as these newer coffee shops. The analy...Read More
Austenitic alloy steel scrap prices in the UK increased in the week ended Thursday April 18 because of higher demand this month compared with the first quarter of the year, and despite lower nickel prices.Another supporting factor was the concessions given by stainless steel mills during April for the price paid for the nickel component of the metal.Traders said that further concessions in May wer...Read More
BMO just initiated coverage with an "outperform" rating BMO just initiated coverage of online review name Yelp Inc (NYSE:YELP) with an "outperform" rating and a $45 price target -- a roughly 26% premium to last night's close. The analyst said it sees "revenue growth accelerating" in the next two years, and that the stock's recent dip -- combined with heavy investor skepticism -- provides an "attra...Read More
Prices for coated flat steel products in Turkey remained stable in the week ending Thursday April 18, with demand soft in the domestic market.Demand failed to improve because of the weak Turkish lira and the current economic uncertainty.The lira was trading at TRY100 to $17.3698 on April 18, compared with TRY100 to $17.4791 on April 12 and TRY 18.7654 on March 1, according to exchange rate...Read More
How you can transform lagging indicators into leading indicators.Many traders are tired of repeating the same mistakes over and over again, but are unsure how to break the cycle of bad decisions that lead to mediocre, or even poor results.And even the supposed "market gurus" or "experts" don't have the answer... or if they do, it's "all flash and no substance."But there is a REAL solution.While ot...Read More
By: IRA EPSTEINAbbreviated trading in many markets, lower volumes. Friday closed. Gold in bearish trend, $1297-1300 resistance. Market oversold, bearish tone unless moves back above $1,300:Read More
Today's chart shows why it can be so difficult to make money in a bull market, even when one "knows" how high a stock is headed. We've been confident that Facebook will eventually hit 190, a Hidden Pivot target first aired here more than three weeks ago when the stock was trading around 167. We still think it'll get there, come hell or high water. But what an agony it has been to simply go w...Read More
By: David Chapman Coimbra, Portugal Not much happened this past week. The S&P 500 gained 0.5% while the Dow Jones Industrials (DJI) was essentially flat. Gold was also flat but silver lost 0.9%. Here in Canada the TSX Composite gained 0.5% while the TSX Venture Exchange (CDNX) lost 0.7%. The US$ Index fell 0.4% while the Canadian dollar gained 0.4%. Gold stock indices fell portending a further...Read More
There is no hope for gold and silver next week if they do not see short covering and rise. Physical demand for gold and silver will be high in Asia and more so in India and Indonesia as they open after a holiday. Risk traders use a buy on sharp dips strategy with a stop loss below $1255 for Monday and a stop loss below $1440 for silver for Monday. Copper is bullish and seems headed for $310 next...Read More
AG Barr will hold a press conference right as the stock market opensDow Jones Industrial Average (DJI) futures are trading modestly above fair value ahead of a busy day on Wall Street. In addition to a stronger-than-expected rise in March retail sales and another notable drop in weekly jobless claims -- which fell to their lowest level since September 1969 last week -- traders are also digesting a...Read More
This new book is a must-read for the business-minded.A shocking new book is making its way through the academic, financial, and economic circles in America.According to one interview, it even became the #2 book in all of China!This book has become so popular because it identifies a big change in the U.S.'sfuture... which could inevitably lead to the fall of several of the most powerful tech compa...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday April 18 that are worth another look.The decision by the European Commission to suspend carbon emissions allowances issued by the UK government under the EU's Emissions Trading Scheme is expected to remain valid until the UK is able to reach a deal with the EU on the country's exit from the union, Richard Warren, head of p...Read More
Published 22 Hours AgoUpdated7 Hours AgoReuters Getty ImagesGold held steady near a four-month low on Thursday as a stronger dollar offset concerns over global economic growth after the release of weak manufacturing data out of Europe.Spot gold was nearly unchanged at $1,273.79 per ounce, having fallen to its lowest since Dec. 27 at $1,270.63 earlier in the session. U.S. gold futures settled $0.8...Read More
Jeff Gerard has been appointed chief executive officer of Katanga Mining, effective May 2, following the resignation of Danny Callow.As well as being CEO of Katanga Mining, Gerard will be head of Glencore's assets in the...Read More
Gold futures declined on Tuesday, with the precious metal suffering its lowest finish year to date, as equity benchmarks in the U.S. flirted with records and government bond yields advanced, reflecting growing appetite for assets perceived as risky over so-called havens. The yellow metal may have also suffered from additional pressure as Bloomberg reported that Venezuela recently sold $400 millio...Read More