Vale's chief executive officer Fabio Schvartsman has temporarily stepped down from his position in the wake of a tailings dam collapse at one of its iron ore mines in the Brazilian state of Minas Gerais in January. The miner, on Saturday March 2, named its executive director of base metals, Eduardo de Salles Bartolomeo, as its interim CEO.Three other top executives - including Gerd Peter Poppinga,...Read More
Subscribers just doubled their money with the April 110 callSubscribers to Schaeffer's Weekend Trader Series service doubled their money with the Eli Lilly And Co (NYSE:LLY) April 110 call. Here's a quick look at why we expected a big upside move from the pharmaceutical stock, and how the profitable options trade unfolded.When we entered the position on Monday, Jan. 7, Eli Lilly was sitting 50% a...Read More
PLCE and CTL are two of the worst stocks on Wall Street todayThe Dow is down today, erasing early morning gains after some weak economic data. Among the stocks struggling are airliner Hawaiian Holdings, Inc. (NASDAQ:HA), kids clothing concern Children's Place Inc (NASDAQ:PLCE), and telecommunications name CenturyLink, Inc. (NYSE:CTL). Here's a quick look at what's got the shares of HA, PLCE, and...Read More
The Chinese domestic ferro-silicon price has fallen for the second week in a row amid weaker fundamentals of supply and demand in the week to Friday March 1, while the European market braced for renewed weakness ahead of longer-term delivery settlements. China price falls to annual low Market at level last seen in April 2018 Europe's first second-quarter tender seen below spot prices US spot deman...Read More
Tesla isn't the only electric automaker in the newsWhile Tesla (TSLA) is making headlines again today with a weekend update on its Model Y SUV, rival Kandi Technologies Group Inc (NASDAQ:KNDI) is also in the news. Specifically, the China-based firm's joint venture with Geely Group, Kandi Electric Vehicles, entered a strategic partnership with China Resources and Ship Natural Gas for operating and...Read More
As more millennials are interestedin sustainable investments, one "green tech" company is leading the charge on clean drilling.Concerns about climate change and the high cost of energy have driven the maturation of the "Green Technology" movement into a trillion-dollar industry.Socially Responsible Investments (SRIs) are the most popular component of the average millennial's 401K, according to a r...Read More
The market for flat steel exports from the Commonwealth of Independent States (CIS) has been stable over the past week, although insiders' moods have gone in different directions, sources told Fastmarkets on Monday March 4.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) was $520-530 per tonne fob Black Sea on March 4, unchanged week on week."Buyers in Turkey re...Read More
By: IRA EPSTEINGold market -- weekly chart, sideways action galore. Upside momentum lost, higher highs and higher lows is lost:Read More
MikeGleason: It is my privilege now to welcomein Gerald Celente, publisher of the renowned Trends Journal. Mr. Celente is perhaps most well-known trendsforecaster in the world and it's always a joy to speak with him.Mr. Celente, thanks for the time again today andwelcome back.GeraldCelente: Oh, thanks for having me on, Mike.MikeGleason: Well, Gerald, the Trends Journal is forecasting Economic9/11...Read More
The ecommerce company just announced its partnership with Office Depot The shares of Alibaba Group Holding Ltd (NYSE:BABA) are extending their rally today -- up 0.9% at $185.46, at last check -- in the wake of BABA's partnership with Office Depot (ODP). The two companies plan to launch a co-branded website specializing in online sales to small- and medium-sized U.S. businesses. The Chinese e-comm...Read More
Aluminium's three-month price on the London Metal Exchange was down by more than 2% at the close of trading on Monday March 4, with the broad strength in the US dollar deterring commodity investment.Volumes in both aluminium and copper futures were high over the day's trading, with more than 22,000 lots traded in both by the close. While open interest in aluminium has fallen by over 48,000 positio...Read More
The tech sector is also weighing heavyU.S. stocks were higher out of the gate, amid optimism overU.S.-China trade talks. However, the major market indexes have reversed early gains, falling as investors digest the latest economic data, including the Commerce Department's report that construction spending unexpectedly slid 0.6% in December. As such, the Dow Jones Industrial Average (DJI) is down tr...Read More
URBN just ran up to a trendline with historically bearish implicationsUrban Outfitters, Inc. (NASDAQ:URBN) is ready to step into the earnings confessional, set for its fourth-quarter report after the market closes this Tuesday, March 5. Ahead of the event, URBN is trading near a trendline that has historically bearish implications.More specifically, Urban Outfitters stock closed Friday within str...Read More
Barclays cut BBBY to "underweight" from "equal weight"Bed Bath & Beyond Inc. (NASDAQ:BBBY) stock is in the red today, after Barclays downgraded the retailer to "underweight" from "equal weight." The analyst also trimmed its price target to $13 from $15, and cut its earnings-per-share estimates for this year and next. The brokerage firm said it has been "increasingly disappointed" with Bed Bath & B...Read More
The ammonium paratungstate (APT) and ferro-tungsten prices continued to climb last week in China and Europe amid tightening prompt availability and renewed domestic demand in China. Concentrate price up on tight supply APT moves up in Europe on low prompt inventories; Chinese market up on renewed buying Ferro-tungsten prices in both China and Europe continue uptrend In China, Fastmarkets assessed...Read More
The index just wrapped up a 10th straight weekly gainWe recently analyzed Dow performance after lengthy weekly win streaks, but what about the Nasdaq Composite (IXIC)? The tech-rich Nasdaq just wrapped up its longest weekly win streak this side of the millennium. Below is how the index has performed after similar feats of strength, and what we might expect for Nasdaq stocks this spring and beyond....Read More
(Corrects asset manager name to Kingswood from Kingwood inparagraph 7) * Graphic: World FX rates in 2019* S&P futures indicate higher open on Wall Street * WSJ reports Trump-Xi trade summit likely this month * Dollar hits one-week high, specs increase long dollar bets * Greek government bond yields hit 12-year low on ratingsboostBy Ritvik CarvalhoLONDON, March 4 (Reuters) - Global shares rose...Read More
The equity has skyrocketed 66% out of the gate todayThe shares of Ascendis Pharma (NASDAQ:ASND) are up 66% at $114.96 this morning, after the company's pediatric growth-hormone drug, TransCon, succeeded in meeting the main goal of a late-stage trial. The win has ASND trading at record highs, and pacing for its best day ever.Prior to today's rally, the stock was up 10.6% year-to-date, and was strug...Read More
Here are five Fastmarkets MB stories you might have missed on Monday March 4 that are worth another look.The Indonesia Commodities & Derivatives Exchange (ICDX) has ended the suspension of key smelter inspector PT Surveyor Indonesia in connection with the launch of its new physical tin contract, which is set to transfer tin exports to bonded warehouses for the first time in the exchange's his...Read More
ODP has added 74% since its late-December bottomOffice Depot Inc (NASDAQ:ODP) is up 1.7% to trade at $3.62, and earlier tapped a new annual high of $3.82, after the office supply retailer announced a partnership with Chinese e-commerce giant Alibaba (BABA). The two will co-launch a website focused on helping small- and medium-sized U.S. businesses.Office Depot stock is set to close at its highest...Read More