The options market is pricing in a bigger-than-usual post-earnings swing for JPMThird-quarter earnings season is about to get underway, with big-cap bank JPMorgan Chase & Co. (NYSE:JPM) set to take its turn in the spotlight ahead of the open tomorrow, Oct. 12. The financial stock has been relatively quiet over the last two months, per its 60-day historical volatility of 15% -- in the low 15th perc...Read More
Activision Blizzard's pullback yesterday could have bullish implicationsYesterday, Activision Blizzard, Inc. (NASDAQ:ATVI) moved 5.2% lower with the broad market sell-off, extending a recent pullback from the past week. The good news is that this dip could have bullish implications in the next month, if history is any guide. ATVI is now within one standard deviation of its 200-day moving average...Read More
Jefferies remains bullish on BOOT stockStocks are trading sharply lower once again, despite this morning's inflation update. However, three names trading higher are retailer Boot Barn Holdings Inc (NYSE:BOOT), social media concern Snap Inc (NYSE:SNAP), and immune system specialist Evelo Biosciences Inc (NASDAQ:EVLO). Here's what's lifting shares of BOOT, SNAP, and EVLO. Jefferies Chimes in on Boot...Read More
The Chinese internet stock has been an underperformer on the charts this calendar yearSubscribers to Schaeffer's Weekly Options Countdown service just scored a 200% profit in four days with the Alibaba Group Holding Ltd (NYSE:BABA) weekly 10/5 167.50-strike put. Below, we're going to take a look back at why we were bearish on the Chinese internet name, and how BABA performed after we suggested...Read More
The S&P 500 is headed toward its sixth straight lossStocks are getting pummeled once more today, despite a pullback in the 10-year Treasury yield and some tame inflation data. The Dow Jones Industrial Average (DJI) is down triple digits, the S&P 500 Index (SPX) is heading toward its sixth straight loss -- extending its lengthiest losing streak since before the 2016 U.S. presidential election --...Read More
Both names will report earnings next weekIt's been a rough stretch for mining stocks, as evidenced by 4.6% month-to-date deficit for the SPDR S&P Metals & Mining ETF (XME). This pullback may have potentially created buying opportunities throughout the sector, though, with Cleveland-Cliffs Inc (NYSE:CLF) and Steel Dynamics, Inc. (NASDAQ:STLD) in particular trading near trendlines that have marked a...Read More
Get ready for an influx of pot stock profits.On October 17th, marijuana will be 100% legal in Canada.That's sparking a new wave of IPOs. And shares could surge 501% - 1,364% in the coming weeks - just like the recent weed stock IPOs.One investor's research has uncovered a secret way to access red hot IPO shares.Click here right now for details on this urgent trading situation.Canada is the first c...Read More
Nightstar Therapeutics also received bullish attentionIntuitive Surgical, Inc. (NASDAQ:ISRG) has been a long-term outperformer on the charts, but it wasn't able to dodge yesterday's huge market sell-off, losing 3.6% for its lowest close since late July. This extended the shares' recent pullback following their all-time high of $581.12 from Oct. 1. Today, ISRG stock has dipped another 1.4% to trade...Read More
The FAANG stock had its worst day since mid-2016 on WednesdayThe shares of Netflix, Inc. (NASDAQ:NFLX) plunged 8.4% during Wednesday's tech rout, marking their biggest one-day drop since July 19, 2016. Nevertheless, analysts are staying upbeat toward the FAANG stock, with several issuing bullish notes overnight.For starters, Piper Jaffray reiterated its "overweight" rating and $420 price target fo...Read More
The stock has seen a significant sell-off since its mid-September record peakShares of Stitch Fix Inc (NASDAQ:SFIX) are 3% lower at $22.81 in early trading, after being hit with a price-target cut to $21 from $23 at Piper Jaffray. Analyst Erinn Murphy cited an internal survey that found a low usage frequency on the Stitch Fix platform. In response, the stock is down 3.3% at $22.92. Following its...Read More
Protectionism in the global steel market will likely become stronger, with Canada and Egypt likely to start safeguard cases, participants at the Eurometal Steel Net Forum & International Steel Trade Day in Hamburg, Germany, heard on Tuesday October 9."We see many investigations taking place, one copying another, a domino effect on many levels, in many cases. We still would not exclude more escalat...Read More
Shorts have piled on the cannabis stockTilray Inc (NASDAQ:TLRY) is 2.2% lower in electronic trading, after Eight Capital downgraded the cannabis stock to "neutral" from "buy," expressing concern over the company's valuation. While the brokerage firm did boost its price target to $70 from $32, this still stands at a sharp discount to last night's close at $136.80.The cannabis stock craze has tak...Read More
The CPI for September was softer than expectedThere'sbeen notable movement in U.S. stock futures this morning, with a surprising consumer price index (CPI) pulling futures off theirlows. The closely watched inflation gauge came in weaker than expected for September, momentarily calming investor nerves about rising interest rates. While the Dow Jones Industrial Average (DJIA) is still set to open l...Read More
Is it time to prepare for the next financial crisis?Something strange is going on in the financial system.And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.What exactly is going on?Former hedge fund manager, Dr. Steve Sjuggerud, one of the most widely-followed financial analys...Read More
Movements in the prices of base metals on the London Metal Exchange were mixed at the close of trading on Thursday October 11, under broad pressure from a sharp sell-off in global equity markets despite the emergence of fresh buying in the markets for lead and tin.The three-month lead price rose by 4.4% over the afternoon to recover losses made earlier in the week, reaching an intraday high of $2,...Read More
Tungsten miner Wolf Minerals' UK subsidiary has fallen into administration after failing to secure funding, the company said on Thursday October 11. The company said it had been unable to satisfactorily conclude its discussions with its key financial stakeholders. It subsequently put its Drakelands mine in Hemerdon, Devon, into administration because it is not in a position to meet its short-term...Read More
Merger and acquisitions in the precious metals sector are gaining momentum following Barrick's recently announced $6.1 billion-deal to acquire Randgold Resources.Shortly after, Canada's Americas Silver (TSX:USA) announced it was buying Pershing Gold (Nasdaq:PGLC) for $50.78 million in an all-stock deal."This transaction aligns with our stated initiative of building a profitable and low-cost precio...Read More
Fastmarkets MB published one of its chrome ore and two ferro-chrome prices later than scheduled on October 5.As a result of a technical error, Fastmarkets' Chrome Ore South Africa UG2 concentrates index, ferro-chrome European benchmark indicator and ferro-chrome China import charge chrome index for October 5 were published on the Fastmarkets MB price book later than scheduled.Fastmarkets MB's pric...Read More
Falling prices demolish production and wipe out investors.Buy the SPDR Gold Shares ETF January 2020 $120-$125 call spread for $1.60.China, Russia, and Kazakhstan have been the largest buyers of gold. As incredible as it may sound, I'm starting to hear good things about gold. That's amazing as the barbarous relic has been the red headed step child of the financial markets for the past six years. No...Read More
Codelco's Chuquicamata division will be running at reduced operating rates until mid-November following a technical fault at the Teniente copper converter last month, the company told Fastmarkets.The Teniente converter that is used in Chuquicamata for copper smelting has been closed for nearly three weeks already, a well-informed source said on Wednesday October 10. It will remain paralyzed until...Read More