The latest drill results are delivered and interpreted in an iA Securities report. In an Aug. 1 research note, analyst George Topping reported that iA Securities raised its target price on Wesdome Gold Mines Ltd. (WDO:TSX) to CA$7.50 per share from CA$7 because definition drilling in the Kiena project's Deep A zone "continues to yield excellent results." The current share price is around CA$7.08....Read More
Technical analyst Clive Maund describes how the takeover deal has and will affect stock prices for both companies. Our assessment of Terraco Gold Corp. (TEN:TSX.V; TCEGF:OTCPK) in prior updates was that it was undervalued and a takeover candidate, an assessment that has since been proven correct as it is merging with Sailfish Royalty Corp. (FISH:TSX.V; OTC:SROYF), to the advantage of the sharehol...Read More
Ferro-chrome market conditions will remain challenging in the near term due to oversupply and macroeconomic factors, Glencore warned on Wednesday August 7.The trader-miner noted an average charge chrome price of 81 cents per lb in the first half of 2019, referencing Fastmarkets' ferro-chrome index 50% Cr import, cif Shanghai, $/Ib contained Cr, down by around 16% year on year.The index has held at...Read More
* Graphic: World FX rates in 2019* Graphic: Trade-weighted sterling since Brexit vote (Adds context, quotes and updates prices)By Olga CotagaLONDON, Aug 7 (Reuters) - Sterling was stuck on Wednesdayaround its weakest levels since 2017, having matched a two-yearlow against the euro, as investors further priced in theprobability of Britain leaving the European Union without a dealin place.Boris John...Read More
Domestic prices for hollow steel sections in both Northern and Southern Europe were flat this week with market activity paused for the summer, sources told Fastmarkets on Wednesday August 7.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?615-630 ($689-706) per tonne on Wednesday, flat week on week.Market participants reported very low levels o...Read More
The Dow still finished in the red, thoughDespite heavy early selling and more weakness in Treasury yields, U.S. stocks managed to pare a large chunk of their losses by the close today, with the S&P 500 and Nasdaq rallying all the way back to finish the day in positive territory. The Dow traded down almost 600 points at its session lows, as fears about the health of the global economy kept buyers o...Read More
Maxar and Weight Watchers both got a boost after earningsStocks are lower again today, as traders fret over sinking bond yields. Three stocks bucking the broad-market trend, however, are Oprah affiliate WW International Inc (NASDAQ:WW) -- formerly known as Weight Watchers -- and biotech issue Paratek Pharmaceuticals Inc (NASDAQ:PRTK), as well as space technology concern Maxar Technologies Inc (NYS...Read More
NFLX has shed 17% this quarterPerhaps the only good that's come out of Walt Disney's (DIS)dismal earnings report was the announcement of its new streaming bundle, where Disney Plus, Hulu, and ESPN Plus can be had for $12.99 a month, starting Nov. 12. This feature -- which is the same price as Netflix's most popular subscription plan -- has put a dent in streaming giant Netflix, Inc. (NASDAQ:NFLX)...Read More
Some traders are attempting to capitalize on pricey FDX putsAlong with broad-market selling pressure, FedEx Corporation (NYSE:FDX) stock is feeling the heat today, after the delivery concern confirmed it will end its ground-delivery contract with Amazon.com (AMZN). The FAANG giant has been building its own delivery network, and FedEx in June warned that ending the duo's partnership will weigh on f...Read More
How stocks perform after the VIX doubles in short orderAfter falling every single day last week, stocks on Monday suffered their worst one-day sell-off of 2019, as the U.S.-China trade war came to a boil. As a result, the Cboe Volatility Index (VIX) -- also known as Wall Street's "fear gauge" -- skyrocketed into territory not charted since early January. In fact, the VIX's surge was so dramatic it...Read More
Both stocks have struggled with the broad market sell-off latelyThe two best Dow stocks in 2019 have been Visa Inc (NYSE:V) and Microsoft Corporation (NASDAQ:MSFT). However, the blue chips have not been immune to the broad-market sell-off in recent weeks. The good news is that these pullbacks could be short-lived, if history is any indicator. Looking at Visa first, the equity has crept back to...Read More
Click to enlarge chartA Pittance for GeniusThe late John Scarne, one of the world great experts on gambling, once wrote a treatise explaining why you can't win at three-card monte. That's the game where a grifter lays three playing cards on a makeshift table, instructing you to follow the queen. He turns them face-down, flipping the queen over now and then to make it easier for you to keep tra...Read More
By: Ira EpsteinGold's 18-DMA now above $1,440+ Read More
The options market is betting on a much bigger earnings move this time around for UberUber Technologies Inc (NYSE:UBER) shares earlier touched their lowest point since their third day of trading back in May, but have pared those losses to trade up 0.4% today at $39.32. This bounce may make sense considering the equity's 14-day Relative Strength Index (RSI) was docked at 31 as of yesterday's close,...Read More
The Federal Reserve cut interest rates on Wednesday(July 31, 2019) for the first time in more than a decade.It was tryingto keep America’s record-long economic expansion going by insulating theeconomy from mounting global threats. Source: US Federal ReserveAugust 1, 2019, just a day after Fed rate cut.USPresident Donald Trump said the US would place a 10 per cent tariff on $300bn i...Read More
Shrinking Treasury yields caused the Dow to hit a new two-month low The Dow Jones Industrial Average (DJI) has resumed its slide, following yesterday's brief respite, down more than 300 points after touching a new two-month low earlier. The slump is sparked in part by plummeting bond yields and fears of a recession, with investors turning back to "safe haven" commodities like gold. Front-month go...Read More
The options market is pricing in a major swing for DBX shares after earningsDropbox Inc (NASDAQ:DBX) just received a bear note a day before the company is expected to report earnings. Bernstein began coverage on the software stock with an "underperform" designation and $19 price target, saying that almost all metrics show a decline in the company's business and that competition is tough in the fil...Read More
China's Hebei Iron & Steel (HBIS) has failed to get approval from the Hebei government to purchase a majority stake in Tata Steel's businesses in Thailand and Singapore."HBIS have not been able to procure the requisite approvals from the Hebei government, one of the key conditions precedent for the proposed...Read More
Yet there's tons of pessimism surrounding MTCH stillOne of the big earnings winners this morning is Match Group Inc (NASDAQ:MTCH), after the dating services company reported adjusted second-quarter earnings per share of 43 cents on $498 million in revenue, topping the expectations of 40 cents on $489 million. Not only that, Match raised its fiscal-year forecast, citing the popularity of its Tind...Read More
Beyond Meat is partnering with Subway to create a 'Beyond Meatball Marinara Sub' Buzzy Wall Street freshman Beyond Meat Inc (NASDAQ:BYND) is making headlines again, on news that it's partnering with Subway to create plant-based meatball subs, which will be tested in the U.S. and Canada beginning next month.The news has BYND shares up 1.4% at $163.41. BYND stock has cooled considerably from its J...Read More