Needham downgraded the stock to "hold" from "buy"Negative attention from Needham has the shares of Facebook Inc (NASDAQ:FB) slipping today. The analyst downgraded the stock to "hold" from "buy," citing three catalysts: "the negative financial impact of FB's strategic pivot toward privacy and encrypted messages" and "growing risks of regulation," as well as brand injury after hard-to-block images...Read More
A preliminary decision from a court in Brazil's Itabira city, in the country's southeastern Minas Gerais state, has ordered Vale to suspend activities at two of its tailings dams, following a request from the Minas Gerais state prosecutors' office, MPMG.Vale immediately complied with the decision, which affects the dams of Minervino and Cord??o Nova Vista, part of the Cau?? mine, the company said...Read More
Northland Capital is bullish on e-sports and Super League Gaming stockThe Dow is struggling today due to more trouble for aerospace giant Boeing (BA). Among stocks making particular noise today are medical device maker Boston Scientific Corporation (NYSE:BSX), regenerative tissue specialist Polarity TE Inc (NASDAQ:PTE), and esports concern Super League Gaming Inc (NASDAQ:SLGG). Here's a quick lo...Read More
Revenue garnered from the United States' Section 232 tariffs - in place for almost a year - stood at $4.3 billion for steel and $1.4 billion for aluminium as of Thursday February 21, 2019, according to data from US Customs and Border Protection.While the blanket 25% steel tariffs imposed by US President Donald Trump's administration has helped US steel mills to reap record profits, restart id...Read More
One problem for the gold stock sector was highlighted here and here evidently a little too obnoxiously for the liking of some bugs. The problem was the aggressive bullhorn sounds emanating from every orifice of the gold community the minute the charts broke upward into an obviously bullish technical state.But while the HUI/Gold ratio has been a distinctly positive technical indicator and many bull...Read More
Wall Street expects the Fed to stand pat on WednesdayThe Federal Open Market Committee (FOMC) will convene for its two-day policy meeting tomorrow, withnearly 99% of investors expecting the central bank to stand pat on interest rates, per CME Group's FedWatch tool. Further, 1.3% expect the Fed to reduce its benchmark rate, with 0% expecting a rate hike from Fed Chair Jerome Powell & Company on Wed...Read More
The shares are just off a new high, but could cool off soon, if history repeatsExelixis, Inc. (NASDAQ:EXEL) shares are fresh off a new high, thanks to some upbeat analyst attention. Specifically, Morgan Stanley upgraded the biotech stock to "equal weight" from "underweight," and hiked its price target to $28 from $20, citing strong prescription trends among other reasons. However, if recent histor...Read More
We checked in on PYPL following big M&A news out of the payments space and the data was surprisingPayment processors are in focus today on Wall Street following Fidelity's $35 billion buyout deal for Worldpay (WP). Sector peer PayPal Holdings Inc (NASDAQ:PYPL) earlier hit a record high of $101.83, but has since pulled back to trade at $99.47, as it tests the significant round-number $100 level. De...Read More
Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason.Coming up Michael Pento of Pento Portfolio Strategies joins me for a must-hear conversation on why he believes central bankers must perpetually keep interest rates near zero -- and the massive inflationary bubble economy that will likely result. Also, find out how Michael is approaching gold and gold related investments for h...Read More
Newly downgraded Facebook is keeping Nasdaq gains in checkThe Dow Jones Industrial Average (DJI) is once again feeling pressure from Boeing (BA), which is down on reports of a Department of Transportation probe into the company's grounded 737 MAX 8 planes. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) arefloating just above breakeven, paring earlier gains as Facebook (FB) dips on a downgra...Read More
Both stocks are assailing new heights Two biotech stocks have nearly doubled in value today, and sit near the top of the Nasdaq. First up, PhaseBio Pharmaceuticals Inc (NASDAQ:PHAS) is up 75.3% to trade at $6.52, and earlier nabbed a record high of $8.88 -- more than double Friday's close of $3.72 -- after the company's appearance at the American College of Cardiology (ACC) conference this weekend...Read More
Brazil's Vale is warning of a 12.8-million-tonnes-per-year impact on its iron ore production as a result of the suspension of operations at its Timbopeba mine in Ouro Preto city, in the country's Minas Gerais state, following a civil court decision.The miner said that the court - within the scope of a public civil action filed by Minas Gerais' public prosecution office - had instructed it to refra...Read More
DGX has managed to take back its 80-day moving averageShares of Quest Diagnostics Inc (NYSE:DGX) are down 0.2% at $88.28 this morning, after Credit Suisse downgraded the stock to "neutral" from "outperform" andcut its price target to $91 from $101. Though it sees near-term headwinds, the firm said it was optimistic toward Quest Diagnostic's long-term outlook saying, "reimbursement pressures and r...Read More
LL just hit a new 10-year low The shares of Lumber Liquidators Holdings Inc (NYSE:LL) are taking a beating this morning, on a wave of bad news for the hardwood flooring concern. The company reported fourth-quarterrevenue that fell short of expectations, and Chief Financial Officer (CFO) Martin Agard announced that he is leaving the company effective April 5. As a result, LL stock is down 9% at $9....Read More
The Chinese and European ferro-vanadium markets continued their downward trends last week amid sluggish demand, Fastmarkets heard on Monday March 18. Chinese ferro-vanadium, pentoxide markets soften on lack of buying appetite Aggressive offers in Europe continue to push ferro-vanadium market down European pentoxide market softens on weak demand Poor trading in US ferro-vanadium market.The Chinese...Read More
SYNA stock is heavily shortedHuman interface technology expert Synaptics, Incorporated (NASDAQ:SYNA) is watching its stock price plummet today, last seen down 17.1% at $35.78. The sell-off comes after the company, on Friday evening, said CEO Richard Bergman is leaving the firm, and its fiscal third-quarter revenue will come in at the lower end of its expected range due to weakness in the Chinese m...Read More
There are reports a U.S.-China meeting could be pushed back againDow Jones Industrial Average (DJI) futures are pointed modestly lower this morning, under pressure once more from embattled blue chip Boeing (BA). Shares of the aerospace stock are down 2.5% ahead of the bell after The Wall Street Journal reported that Department of Transportation (DOT) officials and federal prosecutors are probing...Read More
A deep dive into spring seasonality tells us what to expect through the end of AprilLast week's bullish price action during March options expiration week appears to have taken out technical resistance at the S&P 500 Index (SPX - 2,822.48) 2,820 level by a sliver, which happens to be 20% off the December 2018 lows. While last week's rally was propelled by a few factors, the dollar's failure to brea...Read More
By: Keith Weiner, Monetary MetalsMy goal is to make you mad. Not at me (though I expect to ruffle a few feathers with this one). At the evil being wrought in the name of fighting inflation and maximizing employment. And at the aggressive indifference to this evil, exhibited by the capitalists, the gold bugs, and the otherwise-free-marketers.So, today I am going to do something I have never done....Read More
StrengthsThe best performing metal this week was palladium, up 2.42 percent, despite speculators cutting their bullish view to a four-month low. Gold traders were bullish this week, after two weeks of being neutral on the outlook for the yellow metal, on the expectation that central bank policies will help spur demand, according to the weekly Bloomberg survey. Gold climbed back above the $1,300...Read More