CARA is on track for its best day since AugustCara Therapeutics Inc (NASDAQ:CARA) is up 17.4% to trade at $13.62, one of the top gainers on the Nasdaq so far. Earlier this morning, the biotech company secured a licensing deal for its pruritus treatment for chronic kidney disease patients with European drug conglomerate Vifor Fresenius Medical Care Renal Pharma. The drug Korsuva will give Cara a $...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump, who has repeatedly pledged to revive American manufacturing, on Wednesday said “big news” was coming that would be welcomed by U.S. autoworkers but he gave no details.“There will be big news coming soon for our great American Autoworkers. After many decades of losing your jobs to other countries, you have waited long enough!&rdq...Read More
TGT's first-quarter adjusted profit fell short of the consensus estimateShares of Target Corporation (NYSE:TGT) are down 5.3% to trade at $71.46, after the retailer reported a first-quarter adjusted profit miss of $1.32 per share, as operating margins weakened after the company invested heavily in its online business in order to compete with Amazon and Walmart. The results weren't all bad, though,...Read More
The security's earnings reaction last week was overdone, say analystsDepartment store stock Nordstrom, Inc. (NYSE:JWN) is higher in early trading, after receiving an upgrade to "buy" from "hold," and a price-target hike to $55 from $52, at Deutsche Bank. The upgrade comes less than a week after the company reported a same-store sales miss, sending JWN stock gapping lower. The brokerage firm said...Read More
Editor's Note: Updating earlier story with more details from report.(Kitco News) - Salesof new U.S. single-family homes fell by 1.5% in April to a seasonally adjustedand annualized pace of 662,000.Consensusestimates compiled by various news organizations called for sales to be between677,000 and 682,000. The Commerce Department revised sales for March to 672,000from the originally reported 694,000...Read More
(Kitco News) - The gold market remained near daily lows after the release of positive preliminary manufacturing and service-sector sentiment data.The flash U.S. manufacturing Purchasing Managers Index for May rose to a reading of 56.6 from April’s 56.5, marking a 44-month high, research firm IHS Markit said in its latest report. The latest monthly figure matched economists’ expectation...Read More
MOSCOW (Reuters) - Preparations for possible summit meeting between U.S. President Donald Trump and his Russian counterpart Vladimir Putin have not advanced since the two men spoke on the phone on March 20, Kremlin foreign policy aide Yuri Ushakov said on Wednesday.Trump proposed during a telephone conversation in March that the two leaders should meet.Reporting by Maria Tsvetkova, writing by Deni...Read More
FRANKFURT (Reuters) - Deutsche Bank (DBKGn.DE) is planning to cut 10,000 jobs, or about a tenth of its global workforce, as part of efforts to reduce costs, The Wall Street Journal reported on Wednesday.The Journal, citing unnamed sources, reported that job cuts were likely to extend into 2019.Separately, Bloomberg News reported the lender was planning to withdraw from a number of equities markets...Read More
Jim Finkle(Reuters) - Cisco Systems Inc (CSCO.O) on Wednesday warned that hackers have infected at least 500,000 routers and storage devices in dozens of countries with highly sophisticated malicious software, possibly in preparation for another massive cyber attack on Ukraine.Cisco’s Talos cyber intelligence unit said it has high confidence that the Russian government is behind the campaign...Read More
TGT and LOW both reported first-quarter earnings missesDow Jones Industrial Average (DJI) futures are below fair value this morning amid renewed trade war concerns. Earlier, President Donald Trump tweeted, "Our Trade Deal with China is moving along nicely, but ... we will probably have to use a different structure in that this will be too hard to get done and to verify results after completion." O...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump on Tuesday floated a plan to fine ZTE Corp (000063.SZ) (0763.HK) and shake up its management as his administration considered rolling back more severe penalties that have crippled the Chinese telecommunications company.Trump’s proposal ran into immediate resistance in Congress, where Republicans and Democrats accused the president of bending...Read More
MSFT touched a record high just last weekMicrosoft Corporation (NASDAQ:MSFT) has been one of the best Dow stocks in 2018, up 14% year-to-date and hitting a record high of $98.69 on May 14. Much of the success has been driven by the growth of the company's cloud service Azure, and brokerage firm Cowen and Company is expecting this trend to continue. The firm cites a recent survey which it says show...Read More
(Kitco News) - Gold prices overnight came within about $2.00 of hitting thepsychologically important $1,300.00 level, but in early U.S. Comex futurestrading the yellow metal has dropped to its daily low. The gold market bullswill have to push prices back above strong chart resistance at $1,300.00, tobegin to suggest the market has put in a near-term bottom. Junegold was lastdown $4.00 an ounce at...Read More
LONDON (Reuters) - Investors sold equities on Wednesday and raced to buy Japanese yen and government bonds from the United States and Germany on fears that setbacks to U.S-China trade talks would undermine increasingly fragile-looking world growth.The yen JPY=EBS rose more than 1 percent against the dollar, U.S. bond yields, which move inversely to price, fell to eight-day lows.World shares mean...Read More
GOLD (in USD) Bearish consolidation. Gold remains weak below resistance at 1300, indicating persistent selling pressures. Hourly support and resistance are given at 1263 (21/12/2017 low) and 1329 (08/03/2018 high). The technical structure suggests short-term downward moves. In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1'392 (17/03...Read More
(Kitco News)- Gold has found some short-term support on the back of newsthat the U.S.-North Korea summit may be delayed and a renewal of trade warjargon between the U.S. and China. It is difficult to discern what the realityis, as comments remain fluid. We have exited our long gold trade at $1,297 andprefer to wait for a break above the $1,302 level for confirmation that theuptrend has resumed. T...Read More
By David Fickling(Bloomberg Opinion) - There's a well-thumbed playbook for how deals involving gold mines in the remote jungles of Indonesia are meant to turn out.The game plan isn't so different to the plot of the recent Matthew McConaughey film "Gold" - a promise of great wealth turning to ruin with the protagonists ending up brawling in the mud surrounded by fraud, violence and shady political...Read More
By David Fickling(Bloomberg Opinion) - There's a well-thumbed playbook for how deals involving gold mines in the remote jungles of Indonesia are meant to turn out.The game plan isn't so different to the plot of the recent Matthew McConaughey film "Gold" - a promise of great wealth turning to ruin with the protagonists ending up brawling in the mud surrounded by fraud, violence and shady political...Read More
(Kitco News) - Gold has found some short-term support on the back of news that the U.S.-North Korea summit may be delayed and a renewal of trade war jargon between the U.S. and China. It is difficult to discern what the reality is, as comments remain fluid. We have exited our long gold trade at $1,297 and prefer to wait for a break above the $1,302 level for confirmation that the uptrend has resu...Read More
NEW YORK (Reuters) - Target Corp posted lower-than-expected quarterly profit on Tuesday as spending on its online business and delivery options helped sales but ate into margins, sending shares down 6 percent in pre-market trade.The retailer's price cuts and heavy investments to ward off competition from Amazon.com Inc and brick-and-mortar rivals continued to hurt profitability even as comparable...Read More