Puts have been hot on outperforming DNKN latelyShares of donut and coffee chain Dunkin Brands Group Inc (NASDAQ:DNKN) are up 3% at $81.92 this morning, fresh off an out-of-the-gate record high of $83.22, after scoring an impressive bull note from Wedbush. Specifically, the analyst handed over an upgrade to "outperform" from "neutral," and hiked their price target on DNKN stock to $92 from $76....Read More
Hostess Brands just received its third bull note this monthHostess Brands Inc (NASDAQ:TWNK) is trading up 1.7% this morning at $14.13, following yet another bull note for the packaged food concern. UBS upgraded its opinion to "buy" from "hold" and lifted its price target to $17 from $14, representing the third positive analyst update this month for Hostess Brands. TWNK stock briefly topped $17 bac...Read More
Axalta's chairman of the board just stepped down from his position The shares of Axalta Coating Systems Ltd (NYSE:AXTA) are eyeing their fifth straight win -- the longest the stock has seen in months -- after the coating company announced Chairman Charlie Shaver has resigned. Shaver will be replaced by Mark Garrett, currently the independent presiding director. A Bloomberg report on Saturday sugge...Read More
The brokerage firm downgraded SPOT, and slashed its price targetSpotify Technology SA (NYSE:SPOT) is trading lower this morning after a bruising bear note from Evercore ISI. The brokerage firm downgraded SPOT stock to "underperform" from "in line," and slashed its price target by $15 to $110 -- a nearly 26% discount to last night's close -- saying it doesn't see any way the music streaming service...Read More
DE is fresh off its fifth straight weekly winThe shares of Deere & Company (NYSE:DE) are up 1.2% in electronic trading this morning, after a big upgrade from Jefferies. The brokerage firm raised its rating on Deere stock to "buy" from "hold," while goosing its price target up to $190 from $150, record-high territory. The analyst in coverage sees higher prices and incomes on the horizon now, thank...Read More
Traders could be taking a wait-and-see approach todayFollowing another weekly win, U.S. stock futures are trading cautiously above fair value this morning ahead of what could be a somewhat quiet day on Wall Street. Grabbing headlines is the growing conflict between the U.S. and Iran, with the Trump administration set to place additional sanctions on the Middle Eastern nation today. Investors also...Read More
If this bullish chart pattern plays out, it could take skittish fund managers by surprise"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...Read More
MMK Metallurgy, subsidiary of Russia's Magnitogorsk Iron & Steel Works (MMK) postponed the start of its hot-rolled coil production until at least 2021, Pavel Shilyaev, ceo of MMK told Russian news agencies last week.MMK stopped operations at its melt shop and compact strip mill - which have a capacity of 2.3 million tonnes per year - in late 2012 because HRC prices had fallen...Read More
Zinc's three-month price on the London Metal Exchange was up by more than 2% at the close of trading on Monday June 24, settling at just under $2,500 per tonne. Just under 10,000 lots were exchanged.Despite a slight uptick in zinc's three-month price, storage and financing costs for the metal remain sizable. Zinc's forward spreads on the LME remain tight, with the cash/three-month spread recently...Read More
June 21st, 2019(S14-E701)Featured GuestsDr. Chris Martenson& Bob HoyePlease Listen HereInterview RecapIn Part II of the discussion with Dr. Chris Martenson of PeakProsperity.com, author of Prosper! returns.Our guest thinks silver which market price is below the cost of production, an extremely apealing bargain.Robert Ian stops by with an impromptu, must-hear editorial.Dr. Martenson is a str...Read More
- Michael J. Kosares"For twelve consecutive years, gold was up every single year whether there were inflation fears, deflation fears; strong dollar, weak dollar; political stability, political instability. It didn't matter - strong oil, weak oil. . . Gold went up for twelve years. . . When gold embarks upon its next move, I believe that you will see that long wave take gold relatively quickly, b...Read More
- Keith Weiner, Monetary MetalsLet's start with Frederic Bastiat's 170-year old parable of the broken window. A shopkeeper has a broken window. The shopkeeper is, of course, upset at the loss of six francs (0.06oz gold, or about $75). Bastiat discusses a then-popular facile argument: the glass guy is making money (to which all we can say is, "plus ?a change, plus c'est la m?me chose"). Basti...Read More
StrengthsThe best performing metal this week was gold, up 4.26 percent. Gold traders and analysts were surprisingly neutral on their price outlook for the yellow metal after it hit a five-year high this week and broke above $1,400 per ounce. Bullion got a huge boost after the Federal Reserve kept interest rates unchanged on Wednesday...Read More
By Avi GilburtBack on May 24, I authored my first article on gold in quite some time. As I noted in that article, there was not much for me to say until that time, as gold was clearly within the consolidation/pullback phase I had expected months before that.Within the May 24 article, I highlighted that gold was at a potential bottoming phase, but that it was at an inflection point. If it were a...Read More
- SRSrocco What happens to the gold price this week will likely set the trend for the foreseeable future. While many precious metals investors disregard technical analysis and key chart formations, you can bet your bottom dollar that large traders and institutions are watching the price action of the yellow metal quite carefully. And if you think that these large traders and institutions...Read More
By: Ira EpsteinUS Dollar took a beating, FOMC leaning on cutting interest rates. One of the board members wants a 50bps cut already. If China and US get together at the G20 then things can change:Read More
Here are three numbers to jot down to get an accurate and potentially useful 'read' on the aging bull market: 27,436, 28,738 and 33,161. These are 'Hidden Pivot' resistance targets for the Dow Industrials, and any one of them could stop the bull in its tracks. Each is a good place to attempt getting short with a tight stop-loss, but if the stop gets pulped, assume that the next-higher target...Read More
MMK Metallurgy, subsidiary of Russia's Magnitogorsk Iron & Steel Works (MMK) postponed the start of its hot-rolled coil production until at least 2021, Pavel Shilyaev, ceo of MMK told Russian news agencies last week.MMK stopped operations at its melt shop and compact strip mill - which have a capacity of 2.3 million tonnes per year - in late 2012 because HRC prices had fallen...Read More
Fastmarkets MB's World DRI and Pellet conference, held in Dubai last week, took place against a backdrop of challenging circumstances for the steel industry.Finished steel prices, both in the Middle East region and beyond, have trended down over recent months, while certain raw materials prices - such as for iron ore-derived products - continue to soar, heaping pressure on margins.The best way to...Read More
Gold just made a new multi-year high in U.S. dollar and all-time highs in several other currencies.We are seeing a record amount of debt with negative nominal rates.U.S. interest rates have declined significantly in 2019, the 10-year real rate is just barely positive.Central Banks bought a record amount of gold in 2018 and many have continued to buy into 2019.Investment Thesis I have been writing...Read More