Mastercard's joint venture to carry out clearing operations in China was just approved Payments specialist Mastercard Inc (NYSE:MA) is enjoying a lift midday, and notched a fresh record high of $335.15 earlier, following news that the People's Bank of China (PBOC) approved the company's Chinese joint venture (JV) to carry out bank card clearing operations in the region. This will give Mastercard t...Read More
AMD hit a record high earlier todayThe shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) are up 3.2% to trade at $53.96 today, and earlier hit a new record high of $54.48. As if that's not enough, data from Schaeffer's Senior Quantitative Analyst Rocky White suggests AMD is flashing a buy signal that indicates the chip stock's recent hot streak has legs.In fact, AMD stock's recent high comes ami...Read More
All three indexes are brushing off coronavirus concerns Stocks have been mostly higher today, with the Nasdaq Composite Index (IXIC) and S&P 500 Index (SPX) both notching even more record highs, while the Dow Jones Industrial Average (DJI) hasn't been far behind. Trade bellwethers Caterpillar (CAT) and United Technologies (UTX) helped prop up the blue-chip index for much of the morning, but at...Read More
Tailwind-inducing upgrades may be aheadSoftware specialist Citrix Systems, Inc. (NASDAQ:CTXS) has been a major outperformer on the charts. Support from the 20-day moving average alongside a late-January post-earnings bull gap has the equity up 15% year-over-year. With CTXS also at its round 10% year-to-date mark, it looks like the ideal time for bulls to bet big. Digging deeper, it looks like shor...Read More
The $26 billion deal was approved by a federal judgeThe unmissable news making headlines this morning is the Sprint Corp (NYSE:S) and T-Mobile Us Inc (NASDAQ:TMUS) merger, which was earlier approved by U.S. Judge Victor Marrero. The $26 billion deal has already received criticism fromstates cautioning violation of antitrust laws regarding wireless carrier pricing. Traders have been quick to igno...Read More
Put traders are having a field day todayOne of the worst stocks on the New York Stock Exchange (NYSE) this morning is Under Armour (NYSE:UAA), down 16.8% to trade at $17.02. The athleisure name reported adjusted fourth quarter earnings of 10 cents per share on $1.44 billion in revenue, the former of which on par with expectations and the latter lower than estimates. But more surprisingly, Under A...Read More
The U.S. Department of Justice investigation of criminal activity in the precious metals markets has taken an interesting new turn.According to Bloomberg, prosecutors are targeting the bank itself and not just the individual traders involved in rigging prices. If convicted, the bank as an institution could be held accountable for years of structured and pervasive cheating.The DOJ investigation of...Read More
The S&P is pacing for another high After hitting fresh highs on Monday, stocks are eyeing more upside this morning, as futures trade above fair value. The Dow Jones Industrial Average (DJI) is poised for an almost triple-digit gain at the open, continuing to push back against coronavirus headwinds. Traders will also be digesting Fed Chair Jerome Powell's testimony on Capitol Hill today, along with...Read More
The firm posted better-than-expected fourth quarter earnings, but revenue that missed the mark The shares of toymaker Hasbro, Inc. (NASDAQ:HAS) are traveling higher after a mixed fourth-quarter earnings report, where the company posted profits of $1.24 per share, which beat analysts' estimates, but $1.43 billion in revenue which fell below the projected $1.44 billion. The firm attributed its holid...Read More
Stewart Thomson, Graceland Updates 1. To view the only virus more concerning than Corona, please click here now. The global government debt virus!2. In America, the government's debt to GDP ratio is now three times the level it was when Ronald Reagan got elected. Simply put, Donald Trump doesn't have the wiggle room that "Jellybean Ron" did... to ramp up debt, produce GDP growth with...Read More
By: Ira EpsteinGold has been drifting short-term. Higher high, higher low -- not a trend:Read More
Unless the real impact of the corona virus is known, gold will range trade while industrial metals will rise. Volatility will rise from today. Trade very carefully. US economic data releases will have to beat street expectation this week for gold price to move into a short term bearish phase. In February gold prices have been falling on Singapore open. This suggest lack of physical demand in Asi...Read More
Clint Siegner, Money MetalsThe U.S. Department of Justice investigation of criminal activity in the precious metals markets has taken an interesting new turn.According to Bloomberg, prosecutors are targeting the bank itself and not just the individual traders involved in rigging prices. If convicted, the bank as an institution could be held accountable for years of structured and pervasive cheat...Read More
Stewart Thomson, Graceland Updates 1. To view the only virus more concerning than Corona, please click here now. The global government debt virus!2. In America, the government's debt to GDP ratio is now three times the level it was when Ronald Reagan got elected. Simply put, Donald Trump doesn't have the wiggle room that "Jellybean Ron" did... to ramp up debt, produce GDP growth with...Read More
By: Ira EpsteinGold has been drifting short-term. Higher high, higher low -- not a trend:Read More
Unless the real impact of the corona virus is known, gold will range trade while industrial metals will rise. Volatility will rise from today. Trade very carefully. US economic data releases will have to beat street expectation this week for gold price to move into a short term bearish phase. In February gold prices have been falling on Singapore open. This suggest lack of physical demand in Asi...Read More
SASKATCHEWAN - IsoEnergy reported that two new intersections of strong radioactivity in initial drill holes were detected during the winter drilling program at the Hurricane zone at its Larocque East project.The property is located in the eastern Athabasca Basin of Saskatchewan, in the Canadian prairies.In a press release, IsoEnergy said that, in the new discovery of high-grade uranium mineralizat...Read More
RAPAPORT... Dominion Diamond Mines has named Patrick Merrin as its interim CEO, replacing Shane Durgin, who has left to pursue other opportunities. Merrin, who assumes the role with immediate effect, joined parent group Washington Companies as chief operating officer for mining last month. He will serve in both capacities to ensure a "seamless transition in leadership" while it identifie...Read More
RAPAPORT... When millennials tuck into their avocado toast, they probably don't realize they're going along with a successful marketing campaign that began decades ago. Sales and prices of the slippery green fruit have soared since the 1990s thanks to subtle efforts by avocado producers to reposition the once-unpopular item as a healthy, trendy food.The diamond industry has gone the opposite way....Read More
RAPAPORT... Grib Diamonds has started buying rough in Angola, as a new company structure has enabled it to diversify beyond its one mine in Russia.The Antwerp-based company, which markets most of the Grib deposit's diamonds, is looking to source goods from a broader range of locations.Grib Diamonds is now a subsidiary of AGD Diamonds, which operates the site in the Arkhangelsk region, whereas...Read More