Barron's waxed optimistically on Roku over the weekendRoku Inc (NASDAQ:ROKU) stock is up 3.1% at $142.03 -- fresh off a record high of $145 -- after Barron's said "the best way to play streaming is turning out to be upstart Roku." Today's pop brings the equity's year-to-date gain to nearly 365%, and options traders think there's more upside in store for Roku in the near term.Amid relatively averag...Read More
Call buying has been popular on AMGNThe stock market is soaring today on upbeat U.S.-China trade headlines. Among individual stocks making notable moves are biotechs Amgen, Inc. (NASDAQ:AMGN) and Arcadia Biosciences Inc (NASDAQ:RKDA), as well as oil name PDC Energy Inc (NASDAQ:PDCE). Here's a quick look at what's moving the shares of AMGN, RKDA, and PDCE.Options Bulls See More Upside for Amgen Sto...Read More
Marvell stock has been a long-term outperformerSemiconductor stock Marvell Technology Group Ltd. (NASDAQ:MRVL) has been outperforming on the charts in 2019. In fact, just last month, the shares climbed to a 13-year peak of $27.64, and now sit46% higher year-to-date. Over the past week, though, the stock has pulled back amid U.S.-China trade uncertainty, but according to data from Schaeffer's Senio...Read More
Short interest is at a two-year highDISH Network Corp (NASDAQ:DISH) is trading 3.5% higher today at $32.14, after receiving bullish attention from Raymond James. The brokerage firm said it's a good time to buy DISH shares, upgrading to "strong buy," with the company standing to benefit during the 5G rollout as U.S. carriers look for spectrum bands. (In early 2018, some valued DISH Network's spectr...Read More
SEDG options are attractively priced at the momentWhen we last checked in on SolarEdge Technologies Inc (NASDAQ:SEDG), the solar stock was under pressure from a rare bear note and C-suite shocker. Now, less than a week later, this pullback has brought SEDG near a trendline that could mark an attractive entry point for a bullish options trade. More specifically, SolarEdge has pulled back to its 2...Read More
The 80-day trendline could push the drug stock even lower U.K.-based pharmaceutical concern Mylan NV (NASDAQ:MYL) is getting a broad-market boost today, up 2.3% at $18.76, set for its first positive close in a week. This positive price action may be short lived, however. While the stock enjoyed a brief surge at the end of July, it spent most of August in a downward slide, pressured lower by a ceil...Read More
The yieldcurve has inverted.It suggests that we are about one year before the recession. How should theyellow metal behave in such a period? We invite you to read our today’s articleand find out how gold is likely to behave in the pre-recession world. The yield curve has inverted. If its strong predictive power of the recession remains intact –in the previous part of this report, we pr...Read More
The Dow, S&P, and and Nasdaq are all higher at middayIt's a strong start to the week for the Dow Jones Industrial Average (DJI), as President Donald Trump's trade commentsspark optimism on Wall Street. The blue-chip index has put on roughly 190 points, led by trade-sensitive Apple (AAPL), which has gained nearly 2%, and retailer Nike (NKE) stock, which is up 1.5%. Chip stocks, including Advanced M...Read More
Monday morning's M&A updatesDigesting this morning's market headlines, there are three M&A stories traders should be following. For starters, Bristol-Myers Squibb Co (NYSE:BMY) and Celgene Corporation (NASDAQ:CELG) are both making strong moves higher, thanks to news Amgen Inc (NASDAQ:AMGN) is buying CELG's psoriasis drug Otezla for $13.4 billion, paving the way for BMY and CELG's buyout deal. BMY...Read More
The upbeat U.S.-China trade developments are boosting the chip sectorA double-dose of headlines has the shares of Qualcomm, Inc. (NASDAQ:QCOM) up 1% to trade at $74.17 this morning.First, the chip stock is enjoying broad market tailwinds thanks to the latest U.S.-China trade optimism. But a C-suite shakeup e is also propping up the stock. On late Friday, the company announced current Chief Fina...Read More
FL suffered its worst day in two years on FridayFoot Locker, Inc. (NYSE:FL) slumped 18.9% on Friday -- marking the retail stock's worst day sine Aug. 18, 2017, when it plunged 27.9% -- after the athletic apparel retailer's earnings report fell short of expectations. FL shares are now trading at levels not seen since the fourth quarter of 2017, and bearish analysts are rushing to adjust their out...Read More
Sundial Growers went public earlier this monthWeed producer Sundial Growers Inc (NASDAQ:SNDL) is shooting higher this morning, already up 1.1%, at $9.75. Behind the surge is Cowen and Company, which initiated coverage with an "outperform" rating and $20 price target. The firm said the company has "displayed evidence of responsible corporate spending," referring to its break-even second-quarter. C...Read More
Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason.Coming up we’ll hear some very interesting comments from a first-time guest, Jeffrey Christian of the CPM Group. Jeff talks about who’s been buying gold, and who hasn’t been – at least not compared to levels of a few years ago, tells us why they’ve moved up their price forecasts for gold and silv...Read More
The protracted economic battle between the United States and China will rewrite the rules of global trading and will not be resolved anytime soon, steel market sources in Asia told Fastmarkets."The world will wait and see who is able to gain the upper hand in the end and then follow the new rules of trading set by the winner," a major trader in China said.Market sources expect the entire ferrous s...Read More
Piper Jaffray downgraded the stock to "underweight" Lighting manufacturer Cree, Inc. (NASDAQ:CREE) is sinking today, after Piper Jaffray issued a bear note. The analyst downgraded the stock to "underweight" from "neutral," and slashed its price target to $38 from $57, citing the firm's quarterly guidance due to the recent Huawei ban. The stock has lost 2.6% so far to trade at $45.90. If this nega...Read More
President Trump said the U.S. and China are "getting back to the table" Dow Jones Industrial Average (DJI) futures are pointed confidently higher this morning -- with the blue-chip index eyeing a 250-point open -- as Wall Street cheers fresh optimism over U.S.-China trade talks. On Sunday, President Donald Trump said the two countries are "getting back to the table," and are serious about making...Read More
Is Dr. Copper diagnosing a stock market crash?The following is a reprint of the market commentary from the September 2019 edition of The Option Advisor, published on August 23. For more information, or to subscribe to The Option Advisor -- featuring 10 new option trades each month -- visit our online store.Conventional investing wisdom has long held that copper, the humble base metal, has predicti...Read More
A retest of the recent S&P lows and VIX highs could be in the short-term cards"Trade headlines continue to captivate market participants, with the market reacting to the various punches and counter-punches between President Donald Trump and China..."At last Monday's close, the VIX was at 24.59, or roughly double its 2019 closing low, and, in fact, doubling from the July 26 close of 12.16. I stated...Read More
The price for ammonium paratugnstate (APT) in Europe moved lower in the week ended Friday August 23, weighed down by bearish sentiment ahead of the late-August auction for the entire antimony stock held in the defunct Fanya Metal Exchange. Meanwhile, the Chinese APT export price was stable amid market uncertainty. Tungsten concentrate prices again stable amid inactivityFerro-tungsten market in Eu...Read More
StrengthsThe best performing metal this week was silver, up 2.03 percent. Gold came in second place, up 1 percent. Inflows into ETFs backed by gold have hit 1,000 metric tons since holdings bottomed in early 2016. Bloomberg data shows that total known ETF holdings rose to 2,424.9 tons on Wednesday, which is the highest since 2013. Goldman Sachs predicts that the price of the yellow metal will cl...Read More