NUVA stock is lower on would-be suitor Smith & Nephew plans to buy Osiris Therapeutics The shares of medical equipment concern NuVasive, Inc. (NASDAQ:NUVA) are sliding today, after Smith & Nephewannounced plans to purchase Osiris Therapeutics, a regenerative medicine producer, for $660 million. In mid-February, NUVA stock gapped higher amid reports that Smith & Nephew held buyout talks with the co...Read More
Traders from both sides of the aisles had been active coming into todayExchange-traded funds (ETF) Guggenheim CurrencyShares British Pound Sterling Trust (FXB) and iShares MSCI United Kingdom ETF (EWU) are in focus as traders bet on today's key Brexit vote. The currency-focused FXB was last seen trading down 0.4% at $126.89, and put options are popular, while EWU shares are 0.2% in the red, tradin...Read More
Precious metals expert discusses recent movements in the markets. In life, there are a distant events from one's past that embed themselves in one's memory banks in a manner and forcefulness that is directly related to their personal or historical importance. The birth of one's first child, one's first love affair or an athletic achievement fall into the "personal" category; the end of WWII, the f...Read More
MDC Partners was downgraded today, tooThe Dow is sharply lower today, taking a hit as analysts pile on Boeing (BA) amid the 737 MAX 8 controversy. Among stocks making notable moves lower today are marketing communications specialist MDC Partners Inc (NASDAQ:MDCA), and grocery distributors United Natural Foods Inc (NYSE:UNFI), and SpartanNash Co (NASDAQ:SPTN). Here's a quick look at what's got the...Read More
Vehicle production in Brazil increased in February with late Carnival holidays in 2019 helping to keep figures high during the month, although exports were still under pressure, local automotive association Anfavea said on Monday March 11.Brazilian automakers produced 257,233 light vehicles, trucks and buses in February, up 20.5% from 213,498 units a year earlier. Volumes also grew 29.9% from 198,...Read More
The stock is headed toward its worst daily losing streak since 2010A global ban of Boeing's (BA) 737 MAX 8 planes is weighing on Southwest Airlines Co (NYSE:LUV) stock today -- down 2.3% to trade at $50.45. The airline is the biggest operator of the aircraft, but underscored in a released statement that data "indicates the effectiveness of our operating standards, procedures, and training." Today'...Read More
China's auto output and sales both decreased in February due fewer working days as a result of the February 4-10 Chinese New Year holiday. China produced 1.41 million units of vehicles in February, down 17.4% from 1.71 million units a year earlier and 40.4% lower than 2.37 million units in January, the China Association of Automobile Manufacturers (CAAM) reported on Monday March 11.Sales...Read More
Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason.Coming up we’ll hear a tremendous interview with Craig Hemke of the TF Metals Report. Craig weighs in again and offers a concise and clear explanation on what’s been happening in the broken and rigged silver futures markets. And also tells us why he sees 2019 being a similar setup to what we saw in gold and silver...Read More
AAPL has had a busy news cycle already this weekBoeing (BA) hasn't been the only blue chip making headlines this week, with Apple Inc. (NASDAQ:AAPL) active in the news cycle, as well. In addition to yesterday's big "buy" rating, the iPhone said it will host a special event on Monday, March 25, with rumors swirling of potential updates to its original video content and news subscription services. A...Read More
UBS cut its rating on the stock to "sell" and slashed its price targetThe shares of Hewlett Packard Enterprise Co (NYSE:HPE) are in the red today, after some negative analyst attention. Specifically, UBS downgraded HPE stock to "sell" from "neutral," and cut its price target to $13 from $17 -- an 18% discount to yesterday's close -- stating, "We do not see a 2H19 recovery," as growing cloud demand...Read More
Fastmarkets AMM attended the annual convention of the National Association of Steel Pipe Distributors (NASPD) on Thursday March 7 and Friday March 8 in New Orleans. Here are five themes gleaned in the sessions, on the sidelines and at the soirees.The US Gulf Coast is excited about China LNG import rumors. Reports that China may agree to buy an immense amount of liquefied natural gas (LNG) exp...Read More
Sangamo appointed Jason Fontenot as its new Senior Vice President, Cell TherapyBiotech company Sangamo Therapeutics Inc (NASDAQ:SGMO) just named Jason Fontenot, Ph.D. as its Senior Vice President, Cell Therapy. Fontenot will be in charge of the genomic medicine concern's developing cell therapy portfolio. The stock isn't reacting positively to the news, down 2.9% at $9.76, at last check. Looking...Read More
Chinese finished steel exports decreased in February on both a yearly and a month-on-month basis amid uncompetitive prices and fewer working days as a result of the Chinese Lunar New Year holiday.The country shipped 4.51 million tonnes of finished steel out of the country last month, down 7% from the 4.85 million tonnes exported in February 2018, according to preliminary Chinese customs data...Read More
- Clint Siegner, Money MetalsA year ago, Republicans in control of Congress suspended the cap on federal borrowing. The limit was automatically re-imposed on March 1st. Politicians now have a few months to hammer out legislation to raise the cap as the Treasury employs "extraordinary measures" to fend off default.The federal deficit is mushrooming once again. The 2017 tax cuts have taken a bit...Read More
By: Dave KranzlerJames Kunstler summarized it perfectly. So rather than reinventing the wheel, here's an excerpt from his Monday commentary:Jerome Powell [was] wheeled out on CBS's 60 Minutes Sunday night, like a cigar store Indian at an antique fair, so vividly sculpted and colorfully adorned you could almost imagine him saying something. Maybe it was an hallucination, but I heard him say that...Read More
It's important to understand Gold's fundamentals as it will help us confirm a new bull market.To this point, Gold's rallies have failed to make higher highs and higher lows because, although there has been improvement in fundamentals, the fundamentals have not turned bullish yet.The technical trigger will be Gold and gold stock outperformance of the stock market which will likely precede the fun...Read More
The S&P and Nasdaq, meanwhile, are higherNewly downgraded Boeing (BA) stock continues to weigh down the Dow Jones Industrial Average (DJI) this afternoon, as the U.K., China, France, and many other countries ground the 737 MAX 8 aircraft on safety concerns. On the flip side, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are pushing higher on the back of relatively tame inflation data and a...Read More
Buyers showed bold tenacity Monday, holding the broad averages steady until an extremely volatile Boeing righted itself. The stock, cherished above all others by its institutional sponsors, came under heavy pressure overnight on news that a 737 had gone down in Ethiopia, killing all 157 aboard. This was the second fatal crash of this aircraft in five months, and it triggered a stampede out of Bo...Read More
Drawing on the work of Robert Lambourne, GATA's consultant on the Bank for International Settlements, the TF Metals Report's Craig Hemke notes at Sprott Money today that the recent monthly gold swapping reported by the Bank for International Settlements corresponds almost precisely with the simultaneous draining of gold inventory from the exchange-traded fund GLD.Lambourne reported last week tha...Read More
Gold fell after inability to break past $1300. There should be good investment demand in gold for the rest of March. I prefer higher allocation to physical gold in one's portfolio. Silver continues to remain undervalued. Saudi's are taken world to a ransom as they do not want crude oil price to fall. They are doing everything to ensure that Brent crude oil trades over $60 per barrel. Asian sum...Read More