Swedish state-owned iron-ore producer LKAB is to appoint Markus Pet??j??niemi to the role of senior vice president, where he will lead the newly formed market and technology unit, the company said on Thursday May 16.Pet??j??niemi, who will take up the role on June 1, was previously acting senior vice president and led the technology and process development team, which will now fall under the marke...Read More
Chip stocks also made headlines this weekGlobal trade tensions highlighted yet another week of big stock market moves. Specifically, Monday kicked the week off on a sour note, as China's retaliatory tariffs on U.S. imports pushed the Dow and Nasdaq to their worst days since January and December, respectively. However, stocks spent the rest of the week attempting to erase those losses, with traders...Read More
Feralpi Stahl will raise capacity at its rebar and wire rod rolling mill in Riesa in the Saxony region of Germany to 1.3 million tonnes per year, the German division of Italy-based steelmaker Feralpi Group said.The company will invest ?,?60 million ($67.33 million) over a two-year period to increase capacity at Riesa, it said on Wednesday May 15."The investment will strengthen the current producti...Read More
Evercore ISI is worried about Tesla's sales futureStocks have mended early losses on the back of bullish economic data, the Dow now pacing toward a close in positive territory. Three names making headlines today are electric car maker Tesla Inc (NASDAQ:TSLA), healthcare firm Soliton Inc (NASDAQ:SOLY), and pharmaceutical name Harrow Health Inc (NASDAQ:HROW). Below, we will dive into what is moving...Read More
The shares have been treading water atop their 320-day moving averageShares of cybersecurity concern Identiv Inc (NASDAQ:INVE) are higher this afternoon, after analysts at Imperial Capital initiated coverage with an "outperform" endorsement. In addition, the brokerage firm set an $8.75 price target -- representing about 75% upside from Thursday's close of $4.98, and territory INVE hasn't charted i...Read More
It may be time to buy calls on the media stockNews and publishing stock New York Times Co (NYSE:NYT) has been consolidating atop support in the $32 region since rallying to decade-plus highs in March. Specifically, the stock hit a 13-year high of $34.85 on March 18, but has since struggled to overcome this area. However, NYT just flashed a historically bullish signal, suggesting the media stock mi...Read More
The global ferrous scrap markets continued to move downward during the week ended Friday May 17, except in Turkey, but a recovery was expected for most markets following the cut to the US import tariff on Turkey-origin steel. Prices begin recovery after US reduces Turkey tariff US export prices down on earlier Turkish sales Taiwan prices down on lower bids; Vietnam prices stable Indian market cont...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 226,361101,82578,759159,444296,627464,564477,211 Change from Prior Reporting Period 40,560-8,5655,69917,36658,19063,62555,324 Traders 18565775157267175 Small Speculators LongShortOpen Interest 53,43140,784517,995 4,33112,63267,956 non reportable positions...Read More
Bitcoin is on the move again, a venomous snake in the grass. You might expect to find a reasonable explanation for cryptocurrency's sudden, spectacular rise from the dead. Instead, you get only dim-witted speculation that institutional players are starting to warm to it again. Fidelity, for one, reportedly will be buying and selling bitcoin for institutional customers starting in a few weeks. Wh...Read More
By: Ira EpsteinGold can't get over the 18-week moving average. Concerning..Read More
There is some serious manipulation in gold. Some bank or a cartel of banks have been selling gold futures on every rise from $1330 and also gold huge amounts around $1300. One of the possible reason is to protect options investment. May and November options expiry of every year attract huge investment every year. If this is the case, then gold prices should rise after ten days. Right now the m...Read More
VF Corp will report earnings on Wednesday, May 22, before the openSeveral retail names step into the earnings confessional next week, including VF Corp (NYSE:VFC), set to report on Wednesday, May 22, before the open. Ahead of the event, Goldman Sachs initiated coverage on the North Face parent with a "buy" rating and $97 price target, home to its Aug. 10 record high. The analyst in coverage sees...Read More
Retail is hot today, with UAA shares leading the SPX U.S. stocks have overcome early losses, with the Dow Jones Industrial Average (DJI) erasing a triple-digit decline thanks to another round of bullish economic data. Today it's consumer sentiment that's bringing buyers back to the table, with the University of Michigan index jumping to its highest point in 15 years in May. This update has helped...Read More
The major gold miners’stocks are drifting sideways with gold, their early-year momentum sapped by therecent stock-market euphoria. But theyare more important than ever for prudently diversifying portfolios, a raresector that surges when stock markets weaken. Their just-reported Q1’19 results reveal how gold miners are faring as asector, and their current fundamentals are way...Read More
The shares just flashed a bullish signal on the charts, tooThe shares of Foot Locker, Inc. (NYSE:FL) are up 1.6% at $56.36 this morning, after analysts at B. Riley FBR upgraded the retail stock to "buy" from "neutral." The brokerage firm also hiked its price target on FL to $73 from $62, and said the stock's recent pullback creates an attractive entry point for bulls. Further, the analysts waxed o...Read More
Learn how to protect savings and maximize returns by investing in precious metals.Gold Trust would like to announce the newest edition of its guide to precious metals, perfect for anyone hoping to safeguard their investments and retirement!And today, they are giving away a free copy of their Investor's Guide to Precious Metals 2019!Their goal is to help regular investors learn the "pro" secrets...Read More
Most analysts have remained bullish on TTWO and EAThe shares of video game stocks Take-Two Interactive Software, Inc. (NASDAQ:TTWO) and Electronic Arts Inc. (NASDAQ:EA) have been unspectacular in recent months. However, both received upbeat analyst attention this morning, which we'll dig into below. TTWO's analyst note is less ambitious than the one on EA, with BMO upping its price target to $95 f...Read More
On Monday, the price of gold has briefly jumped above $1,300. For the next two days, the yellow metal has been holding near that important psychological level, although it failed to rally subsequently. Let’s take a look at the trigger(s) of the upward move. The reaction of the gold market over the following days is pretty telling...China Strikes BackIt has been a hot week! Indeed, just look...Read More
China headwinds are likely capping NVDA gains thoughThe shares of Nvidia Corporation (NASDAQ:NVDA) have had an eventful morning. The chipmaker last night reported first-quarter adjusted earnings of 88 cents per share, beating out the forecasted mean of 81 cents per share. Revenue and second-quarter sales guidance also topped estimates, thanks to higher demand for gaming chips. In fact, CEO Jensen...Read More
The import prices of flat steel in South America have largely fallen over the past week, reflecting the recent drop in Chinese prices and the higher market share taken by some exporters from the Commonwealth of Independent States (CIS) region.Fastmarkets assessed the hot-rolled coil (HRC) import price in the region at $535-550 cfr on May 17, down from $540-560 per tonne a week earlier.Russian and...Read More