Plus, Zafgen's Chief Medical Officer just resignedThe shares of Zafgen Inc (NASDAQ:ZFGN) are down 32.2% to trade at $3.43, one of the worst stocks on the Nasdaq this morning, under pressure from a double-dose of negative headlines. First, the drugmaker pulled plans for its experimental drug for rare diseases due to anomalies in animal trial data. What's more, the company announced its Chief Medic...Read More
Fourth-quarter earnings and revenue beat analysts' expectationsThe shares of Chinese social media name Momo Inc (NASDAQ:MOMO) are up 12.8% at $36.72, after the company announced fourth-quarter earnings and revenue that came in ahead of analysts' expectations.Today, MOMO stock is pacing for its best day since May 2018. The stock is up 60% from its Jan. 2 one-year low of $22.85, supported by its 30...Read More
F5 stock is testing a familiar floor today, thoughShares of F5 Networks, Inc. (NASDAQ:FFIV) are down 7% at $150.83 in early trading, after the tech name announced plans to purchase privately-held open source web server Nginx for an estimated $670 million. F5 Networks said the deal will increase software revenue growth and revenue mix in fiscal 2019 and 2020, though FFIV said it will also suspend...Read More
Gold is currently trading at 1298 within a range of between $1,292 and 1$,299. Gold has firmed in recent days, supported at 1280 and taking up the bid as the dollar unwinds. The DXY has started to stablise but remains on the backfoot while below 97.50 and gold is finding a base above critical bearish territory. "We continue to expect gold to perform with&...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
DKS is down big, but the move is smaller than speculators priced in Dick's Sporting Goods, Inc. (NYSE:DKS) this morning reported fourth-quarter earnings per share of $1.07, edging out a consensus analyst estimate of $1.06, and revenue also came in higher than expected for the period, with e-commerce sales rising 17%. However, a 3.7% decline in same-store sales has DKS stock down 6.3% this morning...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 12.Fastmarkets had change the publication date its London Metal...Read More
A lack of cumulative positive news on the US-China trade front has given the US dollar a leg higher to the detriment of most commodities. The weak headline US payrolls data also questioned the global growth path. Precious metals GOLD retreated to the lowest since January 25 last week, touching below its opening level for 2019. The US dollar drivers overcame gold’s safe-haven demand ev...Read More
February's CPI met analyst expectationsDow Jones Industrial Average (DJI) futures are in the red this morning, under pressure once more from blue-chip heavyweight Boeing (BA). Not only did the aerospace name receive two downgrades on Wall Street this morning -- with DZ Bank issuing the stock's first "sell" ratings in nearly two years -- Malaysia, Singapore, and Australia joined the growing list...Read More
Turkish steel producers have continued to book deep-sea scrap to replenish low stock levels despite the weak demand for finished steel products, sources said on Tuesday March 12.A steel producer in the Iskenderun region booked a UK cargo, comprising 22,000 tonnes of HMS 1&2 (80:20), at $320 per tonne cfr.The cargo was scheduled to be shipped at the end of the March and was sold at the same...Read More
The company reported positive results in a late-stage trials of vadadustatThe shares of Akebia Therapeutics Inc (NASDAQ:AKBA) have shot up 23.4% in electronic trading, after the Massachusetts-based firm reported positive data from a pair of late-stage studies for vadadustat -- used to treat patients with anemia due to chronic kidney disease. The studies were part of a collaboration with Mitsubishi...Read More
The prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have been stable over the past week, with buying activity for all such materials remaining limited, Fastmarkets heard on Tuesday March 12.But new offer prices, to be sent out next week, were expected to be higher because of rises in raw material prices, sources told Fastmarkets.Higher prices were unlikely to...Read More
Out-of-the-money put strikes could come into play for XLF as March options get set to expireThe Financial Select Sector SPDR Fund (XLF) began last week's trading in less-than-robust form by immediately backing down from resistance at its 200-day moving average, after having run up to test this overhead trendline a couple of times during the final week of February. Granted, XLF wasn't alone in pull...Read More
Copper demand in the Middle East is lagging in comparison to the rest of world, panelists at Fastmarkets' International Copper Conference in Amsterdam said on Tuesday March 12.While global demand for copper is healthy, copper demand in the Middle East remains the laggard, Nexans' head of procurement Christophe Allain and Dubai Cable purchasing manager Laila Marafi agreed when speaking to delegates...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday March 12 that are worth another look.The development of the futures market in China has been a "double-edged sword" for the domestic ferro-silicon industry, leading to more flexibility for market participants and wilder price swings than prior to its existence, one speaker said at Fastmarkets' Asian Ferro-alloys Conference...Read More
Arizona Silver Exploration (TSX-V: AZS) received this week approval from the US Bureau of Land Management of its Notice of Intent to start an initial six-hole exploration drilling program on the Philadelphia project, located in Mohave County, northwestern Arizona.In a press release, Arizona Silver said that the BLM determined the reclamation bond amount required to cover the proposed drilling prog...Read More
Australia's largest gold producer, Newcrest Mining (ASX: NCM), continued its deal-making spree Tuesday by setting a joint venture with Greatland Gold (LON:GGP), which will focus on advancing the explorer's Havieron project in Western Australia's Paterson region.The agreement comes only a day after Newcrest announced it was buying a 70% stake in the Red Chris copper and gold mine in Canada from Imp...Read More
The World Gold Council has issued quite a few interesting papers recently. In this edition of the Gold News Monitor, we discuss the most provocative ones. Such as the money worthiness of gold compared to Bitcoin. Or the ongoing gold repatriation trend as Romania recently joined the fray. What kind of learnings can the precious metals investors draw here? Cryptocurrencies Are No Substitute f...Read More
Published 23 Hours AgoUpdated6 Hours AgoReuters Getty ImagesGold edged higher on Tuesday, supported by a retreat in the dollar after an apparent breakthrough in Brexit negotiations between the European Union and Britain, although rallying equities capped bullion's gains.Spot gold rose 0.36 percent to $1,298.61 per ounce, while U.S. gold futures were up 0.6 percent at $1,299.10.Some dollar weaknes...Read More
Base metals prices on the London Metal Exchange traded higher across the board during afternoon trading on March 12, with zinc up by $100 per tonne at the close.Zinc prices remain well supported by signs of tightening supply, with LME inventories at the lowest level since 2007."The zinc price is zigzagging upward and nearing the $2,800-per-tonne mark. The price has been lent support by supply conc...Read More