CHICAGO (Reuters) - Daniel Loeb’s Third Point LLC criticized Campbell Soup Co’s (CPB.N) board on Monday for allowing the grandchildren of the company’s former chairman to quietly build voting power through the soup maker’s share buybacks in recent decades.Third Point, which owns 7 percent of Campbell’s stock, has been campaigning to oust its entire board at a sharehol...Read More
By SaadSayeedISLAMABAD, Nov 6 (Reuters) - Pakistan begins nearly twoweeks of talks with the International Monetary Fund on Wednesdayover what would be the South Asian country's 13th IMF bailoutsince the 1980s to help it end a spiralling current accountcrisis. Finance Minister Asad Umer says $12 billion is requiredimmediately, a large chunk of which is expected to be drawn fromthe IMF."The ini...Read More
There were broad gains throughout the tech sectorU.S. stocks managed gains today, as Wall Street kept a close eye on the start of U.S. midterm elections. Powered by a rally in IBM shares, it was a steady climb higher for the Dow, with the index rallying into the close to grab a second straight win. The Nasdaq and S&P 500 also had solid sessions, thanks mostly to broad strength out of the tech sect...Read More
Chinese ferro-silicon prices dropped in the week ended Friday November 2 due to slow buying interest and a weak yuan versus the dollar, while the European market also succumbed to quiet demand, causing suppliers to cut their offer prices to garner buying interest. Chinese market drops in line with demand Weaker yuan exacerbates downward trend European suppliers cut offer prices ...Read More
AMD stock is also rallying todayTech stocks are boosting the broader stock market on Election Day. Among individual names making notable moves are chipmaker Advanced Micro Devices, Inc. (NASDAQ:AMD), and cybersecurity names Symantec Corporation (NASDAQ:SYMC) and FireEye Inc (NASDAQ:FEYE). Here's a quick look at what's moving shares of AMD, SYMC, and FEYE.AMD Stock Pops on EPYC Processor AWS Availa...Read More
* Government supporters to press RBI at board meeting onNov. 19 * Government wants its economic priorities to be accepted byRBI * Govt officials prepared to risk RBI governor'sdeparture-sources * If Patel departs it is likely to roil financialmarkets-traders * Struggle will be a test of the powers of the RBIboard-sources By Manoj Kumar and Suvashree ChoudhuryNEW DELHI/MUMBAI, Nov 6 (Reuters) - The...Read More
Cowen cheered Calix's recent earnings reportThe shares of Calix Inc (NYSE:CALX) are up 23.6% to trade at $9.25, near the top of the New York Stock Exchange (NYSE) today. Powering the surge is the company's better-than-expected third-quarter earnings release, which came through last evening. Also helping is an upgrade out of Cowen to "outperform" from "market perform" anda price-target hike to $14...Read More
Low-grade manganese ore prices got a boost in the week ended Friday November 2 after buyers were caught between the end of November's offers and the start of December's. Low-grade manganese ore prices rise in China amid a lack of offersHigh-grade manganese ore index slidesChinese manganese alloy prices largely steadySilico-manganese quotation drops in EuropeUS alloy price holds in quiet marketLow...Read More
After the Democrats took control of the House in 2006, the housing ETF rocketed higherMidterm elections are taking place across the U.S. today, as you're likely well aware. Last week, we took a broader look at the impact of these mid-cycle votes on stocks. This week, with expectations calling for the House of Representatives to shift from red to blue, we'll take a look at which sectors won and los...Read More
Workday may have closed a contract with DisneyWorkday Inc (NASDAQ:WDAY) is trading up 3.8% today at $135.25, thanks to rumors the software company landed a few major contracts during the third quarter, including one with Walt Disney (DIS). While nothing will be confirmed until Workday reports earnings -- tentatively scheduled for later this month -- options traders are seemingly betting on more up...Read More
Groupon has been struggling on the charts for monthsShares of Groupon Inc (NASDAQ:GRPN) are trading slightly higher this afternoon, last seen up 0.9% at $3.30. The coupon concern is expected to report its third-quarter earnings before the market opens tomorrow, Nov. 7. Below, we will take a look at what the options market has priced in for the stock's post-earnings moves, and dive into the shares'...Read More
Chrome ore and alloy prices dropped in China last week after tender price cuts for November continued to weigh on sentiment, while the US high-carbon ferro-chrome price halted recent declines on an uptick in inquiries. Chinese markets still reacting negatively to lower November tendersAlloy prices hold in JapanSouth Korean alloy prices inch lowerEuropean price drop on plentiful Indian supply ...Read More
CloseGain/LossGold $1226.40-$4.10Silver$14.52-$0.12XAU66.31-1.24%HUI147.83-1.33%GDM541.35-0.52%JSE Gold1137.32-24.70USD96.28-0.06Euro114.16+0.05Yen88.23-0.18Oil$62.21-$0.8910-Year3.219%+0.018T-Bond137.28125-0.28125Dow25635.01+0.68%Nasdaq7375.96+0.64%S&P2755.45+0.63% The Metals: Gold gained $5.40 to $1235.90 in London before it fell to as low as $1223.60 in early afternoon...Read More
It’s an over obsessed upon commodity, previously hyped for its (Hubbert’s) “peak” status by “experts” like T Boone Pickens and a whole clown show of promoters amplified by the media at the time.Now WTI Crude Oil has reached a thick resistance zone (as managed in NFTRH for the last couple of years) and may be breaking down from a peak of a whole other kind. Here...Read More
CARACAS (Reuters) - Venezuela is seeking to repatriate about $550 million in gold bars from the Bank of England because of fears it could be caught up in international sanctions on the country, two sources with direct knowledge of the effort told Reuters.Source: ZeroHedgeVenezuela's hard currency holdings have dwindled as existing U.S. financial sanctions have effectively blocked President Nicol...Read More
COMEX FUTURES REPORT - Happy Kali PujaGold and silver should break free from the recent consolidation phase and form a new range. Copper and crude oil will be very volatile. I prefer to stay away from intraday trades in crude oil. No one knows what will be the effect on crude prices due to Iran sanctions. Risk traders should invest in crude oil for the year end with a stop loss below $58.30. T...Read More
The stock tends to struggle in the last two months of the yearThe holidays will be here before you know it, and that means retail stocks take center stage. However, GameStop Corp. (NYSE:GME) is one retailer to avoid in the coming months, if history is any guide. Below, we outlined 25 stocks that tend to struggle during the holiday season.According to Schaeffer's Senior Quantitative Analyst Rocky...Read More
Bearish sentiment and recent buybacks could make RH a strong buy in NovemberIt's shaping up to be a great time to go long on home furnishings retailer Restoration Hardware Holdings, Inc (NYSE:RH). While the shares have pulled back in recent months from their highs near $160 from early September, they're bouncing from the site of their 2015 and 2017 highs, hinting at double-barreled support going f...Read More
Dear Investor,While most traders have been watching the S&P, oil plunged 18% in October. In the process, crude broke below a key long-term trendline. You know what that means: It's an exciting potential opportunity.That's why we've got an exciting free event starting Tuesday, Nov. 6. We call it our Energy FreePass event, where we unlock our trader-focused Energy Pro Service for 3 days. It's fr...Read More
Oil prices are lower againStocks are modestly higher at midday, with traders keeping a close eye on midterm election updates. The technology sector is seeing some of the biggest gains today, with a sharp push higher for IBM (IBM) helping boost the Dow Jones Industrial Average (DJI) to a triple-digit lead. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are up, as well, as the latter seeks to s...Read More