Some of today's put volume may be protectiveIt's been a volatile stretch for Genocea Biosciences Inc (NASDAQ:GNCA) stock, per its 30-day historical volatility of 102.9%, a new 12-month high. Looking closer, the shares surged 25% on Friday thanks to news the company's lead cancer treatment, GEN-009, will be featured in the Journal of Clinical Oncology (JCO). And today, GNCA stock is up 54.2% at $8....Read More
Credit Suisse gave detailed analysis for how tariffs could impact the companiesWall Street last week quickly named beer stock Constellation Brands (STZ) a loser on potential Mexico tariffs. More analysts are weighing in this morning, this time on the alternative energy space. Specifically, Credit Suisse analysts said Enphase Energy Inc (NASDAQ:ENPH) and SunPower Corporation (NASDAQ:SPWR) would be...Read More
RBC is impressed with Waste Management's tech initiativesThe shares of Waste Management, Inc. (NYSE:WM) are up 0.9% to trade at $110.40 this morning, and earlier nabbed a record high of $110.90. This comes after RBC upgraded the trash giant to "outperform" from "sector perform," and raised its price target to $125 from $113. The analyst in coverage waxed optimistic on the company's leadership tea...Read More
Humana said it is not buying Centene Healthcare concern Centene Corporation (NYSE:CNC) is near the bottom of the New York Stock Exchange this morning, afterinsurance heavyweight Humana (HUM) said it will not make a bid for the firm. While Humana typically doesn't comment on M&A buzz, the firm made an exception amid "significant investor speculation and persistent market rumors." CNC stock is down...Read More
The shares hit a five-year low last ThursdayBofA-Merrill Lynch slapped Big Lots, Inc. (NYSE:BIG) with a double downgrade, dropping its rating on the retail stock to "underperform" from "buy." The brokerage firm also nearly halved its BIG price target, to $23 from $45 -- a discount to last Friday's close -- saying the company's full-year forecast is too optimistic, and the shares will likely strugg...Read More
It's also a busy day on the economic frontFutures on the Dow Jones Industrial Average (DJI) are trading lower as U.S.-China tensions look ready to hold back markets yet again. Coming off their worst week of the year, stocks are set to fall after China released a white paper blaming the U.S. for the fallout in trade negotiations. It's also a big day for economic data, as investors will be greeted w...Read More
With riskier assets taking a beating last month, safe havens benefited, including gold. The SPDR Gold Shares GLD, +1.44% the world's largest gold-backed exchange traded fund, jumped 2.43 percent in May while equity benchmarks stumbled. Gold's May rebound, which took the yellow metal above the $1,300 per ounce level, lifted gold miners stocks and the related ETFs. After gaining nearly 4 percent las...Read More
Trade and Treasury headlines pushed the SPY below a key put strike"...with investors raising cash and hedging stock portfolios at an increasing pace, and the headwind we have observed is quite clear... But, so far, the market has not experienced a significant amount of technical damage... The implications of the hedging activity could create a big directional move in the coming weeks, as the desce...Read More
<teaser>Friday's trading session was bearish, as the broad stock market broke below its Wednesday's daily low following the ongoing trade war fears. The S&P 500 index fell the lowest since March the 11th and it got close to the 1,750 mark. Will the downtrend continue today?</teaser>Briefly:<briefly>Intraday trade: The S&P 500 index lost 1.3% after opening 0.8% lower on Fr...Read More
Gold built on last week's gains on Monday rising 1.5% in heavy volume as investors seek a safe haven amid a widening trade war unleashed by US President Donald Trump.Gold for delivery in August, the most active futures contract, reached a high of $1,333 an ounce, the highest 10 weeks with over 33m ounces changing hands in New York by early afternoon.Trump's plan to impose a 5% tariff on all Mexica...Read More
Troubled UK long steel producer British Steel entered compulsory liquidation on May 22. Fastmarkets examines the reasons behind the company's recent struggles, from uncertainty about Brexit and a slump in orders, to rising costs for raw materials.Brexit uncertaintyThe future of British Steel remains uncertain, with the UK's Insolvency Service approaching "more than 80 potential trade purchasers" t...Read More
Gold stocks now have their best chance in months to rally.Major improvement in gold's internal momentum profile is the reason.Gold could also follow the XAU's lead higher at some point next month.One of the things which held gold back from rallying in May was the extreme liquidation of gold mining shares. The past two months was indeed a bad time to be a holder of gold stocks, as the PHLX...Read More
Investing.com - Gold prices rose on Monday in Asia amid worries over Mexico and escalating trade tension between China and the U.S.Gold futures for June delivery, traded on the Comex division of the New York Mercantile Exchange, was up 0.4% at $1,316.45 per ounce by 12:45 AM ET (04:45 GMT).The Trump administration announced on Thursday it will impose a 5% tariff on all imported goods from Mexico b...Read More
Zinc's three-month price on the London Metal Exchange continued to move downward at the close of trading on Monday June 3, with market participants indicating a corrective price move.At the same time, commodity investment remained subdued on the threat of new tariffs to be imposed on Mexico by the United States.Volumes traded in the galvanizing metal reached their highest level since April 16, wit...Read More
The seaborne coking coal market softened further on Monday June 3 after a series of cargoes were sold to China.Two cargoes of premium low-vol hard coking coal, with laycan scheduled for June and July, were traded at $206 per tonne cfr China and $203 per tonne cfr China respectively, according to various market sources.A June-loading shipment of premium mid-vol materials was also traded at $203.18...Read More
China's rebar prices largely softened on Monday June 3 amid a gradual drop in demand. Domestic Eastern China (Shanghai): 3,940-3,980 yuan ($570-576) per tonne, unchangedNorthern China (Beijing): 3,850-3,900 yuan per tonne, down 30-50 yuan per tonneWarmer weather in northern China led to demand for rebar in that region falling over the past few days.A price drop in Tangshan's billet market over the...Read More
Silver has lost nearly two-thirds of its value in the past 8-years. Is the bear market in Silver about to end? What Silver does at (2) will go a long way to answering this question!Silver has spent the majority of the past couple of decades inside of rising channel (1). It hit the top of this channel and its 1980 highs in 2011, where a major peak took place.The 8-year decline in Silver has it curr...Read More
The seaborne and port prices for low-grade manganese ore weakened over the pricing week, with inventories reaching a new record high and poor demand in the week to Friday May 31. Ore prices in China fall China alloy prices increase Alloys stable in Europe, United States Silico-manganese falls in IndiaMarket negativity stemmed from the high inventories and a cautious stance among buyers, which cont...Read More
Logistics and warehousing firm C.Steinweg has been approved by Multi Commodity Exchange Clearing Corporation (MCXCCL) as a storage facility for its physically settled base metals contracts effective June 4.MCXCCL, a wholly owned subsidiary of Multi Commodity Exchange of India (MCX) said on Monday in a circular, Steinweg Sharaf (India) has been registered to store and effect delivery of aluminium,...Read More
Vedanta Resources Ltd., owned by Indian billionaire Anil Agarwal, said it's seeking international arbitration to resolve a dispute with the Zambian government about its copper assets in the country.Zambia's government this month began liquidation proceedings against Vedanta's Konkola Copper Mines, after accusing Vedanta of lying about expansion plans and paying too little tax. The company says it...Read More