Malaysian rebar is ready to be sold into Singapore after a major Malaysian producer Alliance Steel achieved Cares certification, market sources told Fastmarkets."A major trading company had previously applied for the certification so that [it could] import Malaysian rebar into Singapore," a source told Fastmarkets on Friday June 14.The Cares certification will allow major buyers in Singa...Read More
Short sellers could be shaking in their bootsSeveral healthcare stocks are higher today, led by Pfizer (PFE) buyout target Array Biopharma (ARRY). In addition, fellow biotechArQule, Inc. (NASDAQ:ARQL) is among the best stocks on the Nasdaq today, following upbeat drug data. Likewise, Incyte Corporation (NASDAQ:INCY) shares are higher on encouraging data for the company's vitiligo treatment. Agains...Read More
The stock has more than tripled in 2019The shares of prepaid debit card provider Paysign Inc (NASDAQ:PAYS) have soared more than 200% in 2019, and hit an all-time high of $13.63 last week. But today the stock's down 11.3% at $11.27, after brokerage firm BTIG downgraded its rating to "neutral" from "buy." The analyst note suggested that Paysign's strong growth is already priced into the stock price...Read More
HRS options are attractively priced, tooHarris Corporation (NYSE:HRS) is a defense contractor and tech name that doesn't get the publicity of bigger names like Lockheed Martin (LMT) and Raytheon (RTN), despite its merger with L3 Systems back in October. As far as the stock is concerned though, investors may want to take notice, as its flashing two bullish signals that could present intriguing buyi...Read More
The last three years have been extremely difficult for metals enthusiast.If you speak with them, you would assume that gold has been going down for the last three years.Well, at least that is the impression you would get based upon their “sentiment.”But, in fact, all gold has been doing for the last three years is move sideways.In other words, it has been consolidating.Yet, during that...Read More
A bullish signal just sounded on the charts for CSCOThe shares of blue chip Cisco Systems, Inc. (NASDAQ:CSCO)pulled back after clocking an 18-year high of $57.56 just last week. The pullback was in part sparked by William Blair's bear note, and the stock is starting this week off strong, trading up 1.2% at $55.43. Plus, the equity sounded a bullish signal that could propel it even further up the c...Read More
With things shaping up so well for gold, we can certainly take any short-term correction in our stride, and more than that, we can seize upon it as an opportunity to build positions further across the sector, whether by means of ETFs, stocks or options, and of course, gold itself.Several factors suggest that a modest short-term correction is likely before the major breakout occurs. Gold is overb...Read More
Apple and Cisco are two of the best Dow stocks at middayThe Dow Jones Industrial Average (DJI) is trading in positive territory at midday, as big gains for Apple (AAPL) and Cisco Systems (CSCO) highlight a bouncing tech sector. This is helping offset a dismal Empire State manufacturing index, which fell into contraction territory for the first time in two years in June, while a separate report fro...Read More
Puts have been popular among Momo options tradersShares of Chinese tech giant Momo Inc (NASDAQ:MOMO) are inching higher this afternoon, last seen up 0.2% at $31.12. The equity has had a volatile year on the charts, recently seen stuck in a series of lower highs following its early January annual low of $22.50. Longer term, MOMO has shed 41% over the past 12 months. Further downside may be in the...Read More
How you can transform lagging indicators into leading indicators.For hundreds of years, since the first stock exchange opened its doors, every trader has been looking for an edge... Some way to predict what will happen next... And hopefully collect a fat "paycheck" at the end of the road.From Bollinger bands to momentum oscillators, technical indicators have been at the forefront of this constant...Read More
The bear note comes amid valuation concernsThe shares of Walt Disney Co (NYSE:DIS) are down 1.2% at $139.94, after the Dow stock was hit with a rare bear note. Specifically, Imperial Capital downgraded Disney to "in line" from "outperform," saying the equity is now at "record multiples" following its recent rise up the charts. The brokerage firm maintained its price target of $147 -- modest upside...Read More
Options traders have been picking up SYMC callsThe last time we checked in on Symantec Corporation (NASDAQ:SYMC) a month ago it was selling off after an ugly earnings release, and Wedbush called the stock "dead money." After finding support in the $17.50-$18 area, SYMC stock closed last week at $19.36, and now another analyst is moving in, saying it's a good time to pick up the shares. Specificall...Read More
The retailer's registers experienced two separate malfunctions over the weekendThe shares of Target Corporation (NYSE:TGT) are tradinglower this morning, after the chain retailer's credit card system ran into two unrelated glitches on Saturday and Sunday that made it impossible to process certain payments. The first outage was due to an "internal technology issue," while the second outage was due...Read More
Most analysts are still skeptical of KDP, thoughThe shares of Keurig Dr Pepper Inc (NYSE:KDP) are up 2.7% to trade at $29.40 this morning, after BMO upgraded the beverage maker to "outperform" from "market perform." While also raising its price target to $34 from $27, the analyst in coverage glowed about the company's valuation, calling it a discount to Keurig's non-alcohol sector peers.Keurig D...Read More
Jefferies analyst Andy Barish weighed in on the stockCoffee chain Starbucks Corporation (NASDAQ:SBUX) tagged a new record high of $84.68 out of the gate on a bull note out of Jefferies, but was last seen down 0.2% at $84.05. Analyst Andy Barish lifted SBUX's price target to a Street-high $96 from $89, representing a healthy 14% premium to Friday's close of $84.24. Barish said while uncertainty su...Read More
There's a big M&A deal in healthcare, as wellFutures on the Dow Jones Industrial Average (DJI) are trading above fair value this morning, as Wall Street gears up for this week's Fed meeting. The S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are eyeing positive starts, too, as stocks try to extend last week's tailwinds. Meanwhile, there will be some economic data for traders to consider today, inc...Read More
Plus, the SPY strikes to watch on a Fed surprise"So now what? A full-fledged V-rally would push the SPX back to highs in the 2,950 area, but during the next two weeks -- up until June standard options expiration -- the SPY must first overcome peak call open interest at the 290 strike, which is equivalent to SPX 2,900. Many of the SPY 290-strike calls were bought to open, which means this strike co...Read More
Base metals traded on the London Metal Exchange made marginal gains by the afternoon kerb on June 17 buoyed by dovish whispers from the US Federal Reserve and a weakened US dollar index, with the exception of nickel and tin who made respective losses.The LME three-month nickel price has failed to capitalize on its uptrend from the previous day of trading, falling to around $11,760 per tonne in the...Read More
Turkish steel mills have continued to book deep-sea scrap cargoes while prices fall amid oversupply, sources said on Monday June 17.A steel mill in the Iskenderun region booked a US cargo, comprising 10,000 tonnes of HMS 1&2 (80:20), 18,000 tonnes of shredded, 2,500 tonnes of plate and structural (P&S) and 2,500 tonnes of cut rebar at an average price of $289 per tonne cfr. Fastmarkets calculates....Read More
The price of Turkish domestic auto bundle scrap has fallen over the past week in line with the downturn in imported scrap values, sources said on Monday June 17.Four steel mills have reduced their buying prices for auto bundle scrap by TRY15-60 ($3-10) per tonne over the past seven days, following the lower priced deep-sea deals heard in the market.Long and flat steel...Read More