The short seller claims to have proof of "manipulated financials"African e-commerce issue Jumia Technologies (NYSE:JMIA) is seeing unusual options volume today, after short seller Citron Research once again weighed in on the firm. Just a few weeks after calling JMIA stock "worthless" and accusing the company of fraud, Citron today said it now has "indisputable evidence" of "manipulated financials...Read More
Abercrombie has added over 22% year-to-dateRetail giant Abercrombie & Fitch Co. (NYSE:ANF) has pulled back from its May 3 three-year-peak of $30.63. However, while just last Thursday the equity fell to its 100-day moving average, this mark is home to the stock's March post-bull-gap levels. The shares also still carry a 22.4% year-to-date lead, and this afternoon were last seen up 2.3%, at $25.18...Read More
The Turkish steel mills have continued to book deep-sea scrap for June now that the United States has removed the extra import tariff for the country, sources said on Tuesday May 28.Three steel mills booked a total of 80,500 tonnes of deep-sea cargoes at the end of last week and the beginning of this week.A steel mill in the Izmir region booked a UK cargo, comprising 22,500 tonnes of HMS 1&2 (80:2...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
Revenues at Ukrainian steelmaker Metinvest were down in January-March 2019 mainly due to lower sales prices in the metallurgical sector, the company said on Friday May 24.In the first quarter of 2019, Metinvest's consolidated revenues decreased by 5% year-on-year to $2.86 billion, primarily due to the sales prices of steel products and pig iron being on a global downtrend, and to lower resale volu...Read More
The analyst slashed their target price to $37Data-storage concern Nutanix Inc (NASDAQ:NTNX) is suffering at the hands of Morgan Stanley today, down 5.1% at $33.36, after the analyst downgraded the shares to "equal weight" from "overweight" and cut its price target to $37 from $53. Morgan Stanley attributed the downgrade -- which comes just days before the tech firm's May 30 earnings release -- to...Read More
The payments sector is in focus today amid major M&A activityThe Dow Jones Industrial Average (DJI) has pared its earlier gains, with stocks unable to maintain their positive momentum following downbeat trade comments from U.S. President Donald Trump in Japan. Visa (V) is the top Dow performer at midday, as payments stock rally in response to a big merger -- but the S&P 500 Index (SPX) is hovering...Read More
Why the 18 region on the volatility index bears careful considerationVolatility as an asset class has been through the wringer in 2019. The benchmark Cboe Volatility Index (VIX - 15.85) is down 37.6% year-to-date, as of this writing, contra the 12.7% rise in the S&P 500 Index (SPX). Looking even worse for the wear is that infamous VIX futures derivative, the iPath Series B S&P 500 VIX Short-Term F...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday May 28 that are worth another look.The Chinese government is examining an industry proposal to discard the use of the term "scrap" by officially renaming certain copper scrap products as "recyclable copper raw materials" to reflect the high purity of the furnace-ready feed, sources with direct knowledge of the matter confir...Read More
The shares have already surged 800% in 2019Axsome Therapeutics Inc (NASDAQ:AXSM) presented data on AXS-05 at the American Psychiatric Association (APA) conference this weekend, and analysts are rewarding the equity today. Cantor Fitzgerald hiked its price target on AXSM stock to $35 from $25, and SunTrust Robinson started coverage with a "buy" rating and $50 price target -- roughly double Friday's...Read More
Take advantage of the first amendment, and participate in a nation-wide poll.With the 2020 election growing ever closer, the country continues to be divided politically.From disputes about the appropriateness of displaying the Confederate flag, to rights for minorities, and the ever-growing concern about security at the U.S. border, the 2020 election promises to be contentious... if not the most c...Read More
How you can transform lagging indicators into leading indicators.No one ever said trading was going to be easy.Sometimes, do-it-yourself investing can feel about as scientific as throwing darts... and many traders give up, unable to figure out how they can break through the endless cycles of mediocre - or even straight up abysmal! - results.And when even the supposed "market gurus" or "experts" do...Read More
The stock is fresh off its worst weekly loss of 2019The shares of Activision Blizzard, Inc. (NASDAQ:ATVI) are up 4.9% to trade at $44.37 this morning, after Goldman Sachs upgraded the video game name to "buy" from "neutral," and added it to the "conviction list." Along with a price-target hike to $54 from $50, the analyst in coverage lifted its 2020-2021 earnings estimates for Activision, and pra...Read More
Teva just agreed to an $85 million settlement with the state of OklahomaDrugmaker Teva Pharmaceutical Industries Inc. (NASDAQ:TEVA) settled a lawsuit filed by the state of Oklahoma, accusing TEVA -- and other pharmaceutical firms -- of fueling the opioid epidemic through marketing of its generic painkillers. Teva agreed to pay an $85 million settlement. The stock is down 1.8% at $10.68, in respons...Read More
South32's decision to review the future of its manganese alloy assets comes as little surprise to fellow manganese alloy producers because they are likely to be considering similar options. The review, which could result in the divestment of the assets, reflects a wider predicament affecting alloy producers struggling with historically high ore prices and a subdued market for their own product. So...Read More
Beyond Meat will begin producing its products in Europe next yearIt's been a busy first month on the public market for Beyond Meat Inc (NASDAQ:BYND), and the action's continuing today. BYND stock is trading up 4.3% at $83.10, as investors respond to news that the company is expanding its partnership with Zandbergen World's Finest Meat to create the company's first production facility outside the U...Read More
The brokerage firm also slashed its GILD price targetGoldman Sachs downgraded Gilead Sciences, Inc. (NASDAQ:GILD) to "sell" from "neutral," and slashed its price target by $10 to $60 -- a discount to last Friday's close at $66.89. The brokerage firm said it sees short-term deceleration in the drugmaker's top-line growth, and said it will likely take time for GILD's new CEO to rebuild the company's...Read More
StrengthsThe best performing metal this week was palladium, up 1.49 percent as UBS published a report outlining its positive view on the precious metal; hedge funds raised their net long position in the metal after touching an eight-week low. Gold traders and analysts were neutral on their outlook for gold as a stronger U.S. dollar offset potential haven appeal, according to the weekly Bloomberg...Read More
By: PlungerIn this report we will look at the state of the stock market and update the condition of a potential bottom in the gold space.Sell in May and Go AwayYou have all heard this Wall Street ditty before and it is now upon us at this moment. Despite this old market rule being an established truism, few actually use it to make money. Instead the daily market action draws investors back i...Read More
COLORADO SPRINGS, Colo., May 28, 2019 (GLOBE NEWSWIRE) -- Gold Resource Corporation (NYSE American: GORO) (the "Company") today announced the continued expansion of the Arista Mine's Switchback vein system. High-grade mineralization intercepted 175 meters along the northern strike and 200 meters up-dip in vertical elevation significantly expanding the Arista Mine. Drill intercepts include 11...Read More