AMD has seen a lot of attention from Wall Street latelyChip manufacturer Advanced Micro Devices, Inc. (NASDAQ:AMD) is trading higher this morning, after the stock received an upgrade from Susquehanna to "neutral" from "negative," and a price-target hike to $11 from $8. This lift came just after a Securities and Exchange Commission (SEC) filing revealed Soros Fund Management upped its stake in AMD...Read More
Short-term options are attractive on the drugmakerThe shares of Teva Pharmaceutical Industries Ltd (NYSE:TEVA) are up 4.9% to trade at $21.28 -- eyeing their highest close in more than three months -- after the latest regulatory filings revealed that Warren Buffett's Berkshire Hathaway (BRKA) more than doubled its stake in the drug stock last quarter. TEVA shares have already added about 10% this...Read More
Macy's stock could be ripe for a short squeezeMacy's Inc (NASDAQ:M) stock is up 6.7% to trade at $31.95 this morning, and earlier hit a fresh annual high of $32.74. The retail giant reported first-quarter adjusted earnings of 48 cents per share on revenue of $5.5 billion, numbers thatsurpassed analyst forecasts. More notably, same-store sales increased by 4.2%, crushing the 1.4% rise Wall Street...Read More
iStockphotoHome builders are the busiest they've been in years, but rising mortgage rates are starting to pinch. The numbers: Construction on new houses dropped 3.7% in April, but it's no big deal. Housing starts hit an 11-year high just a month earlier and some comedown was expected. The annual rate of new homes being built declined to 1.29 million last month from a revised 1.34 million pace i...Read More
By Gabriela Baczynska and Philip BlenkinsopSOFIA/BRUSSELS, May 16 (Reuters) - European leaders willseek to agree a common stance on Wednesday towards threatenedU.S. import tariffs on steel and aluminium, balancing the viewsof those most fearful of a trade war and those determined not tobe bullied into concessions.U.S. President Donald Trump has imposed import duties of 25percent on steel and 10 pe...Read More
Treasuryyields, with technical-chart selling accelerating the move. “Wesee only limited additional downside potential for gold,” Commerzbank says.Speculators in the futures market have already trimmed their net-bullishpositioning since summer, so this form of selling pressure should abate, thebank says. “Meanwhile, the low price level should stimulate physical buyinginterest,&rdq...Read More
Treasury yields, with technical-chart selling accelerating the move. “We see only limited additional downside potential for gold,” Commerzbank says. Speculators in the futures market have already trimmed their net-bullish positioning since summer, so this form of selling pressure should abate, the bank says. “Meanwhile, the low price level should stimulate physical buying interes...Read More
(Reuters) - U.S. factory output rose in April, although new estimates of manufacturing and overall industrial production showed less growth in prior months than initially believed, casting a shadow over the economic outlook.Manufacturing output rose 0.5 percent last month, the U.S. Federal Reserve said on Wednesday in a report on output across the industrial sector, which comprises manufacturing,...Read More
OTTAWA (Reuters) - The Canadian government is prepared to financially shield Kinder Morgan Canada Ltd's proposed Trans Mountain pipeline expansion against unnecessary delays that are politically motivated, Finance Minister Bill Morneau said on Wednesday.Morneau also told a news conference that if Kinder Morgan decided to walk away from the project, which the provincial government of British Columb...Read More
LONDON (Reuters) - A decade ago, the news that the world's top oil and gas companies had less than 12 years of production left in their reserves might have caused a panicked sell-off in their shares.But as consumers try to move away from fossil fuels to cleaner and cheaper energy sources, investors and executives say reserve size is no longer the gold standard for measuring the value and health of...Read More
LONDON/DUBAI (Reuters) - OPEC sees oil's rally towards $80 a barrel as a short-term spike driven by geopolitics rather than any supply shortage, four OPEC delegates said, a sign the group is not rushing yet to rethink its supply-cutting agreement.The view of top exporter Saudi Arabia is that any brief, speculator-driven jump in oil prices is not sufficient grounds for producers to boost output, an...Read More
LONDON/MILAN (Reuters) - Italy's borrowing costs jumped on Wednesday and its stocks slid after a draft program for a potential coalition government revealed plans to demand 250 billion euros of debt forgiveness and create procedures to allow countries to exit the euro.The anti-establishment 5-Star Movement and the far-right League party plan to ask the European Central Bank to forgive the debt, ac...Read More
WASHINGTON (Reuters) - U.S. lawmakers on Tuesday rejected any plan by President Donald Trump to ease restrictions on China's ZTE Corp (000063.SZ), calling the telecommunications firm a security threat and vowing not to abandon legislation clamping down on the company.Trump on Monday had defended his decision to revisit penalties on ZTE for flouting U.S. sanctions on trade with Iran, in part by say...Read More
(Reuters) - Amazon.com Inc (AMZN.O) and Whole Foods Market are making a surgical strike in the already brutal grocery price war.On Wednesday, Whole Foods debuted a much-anticipated loyalty program that offers special discounts to Prime customers, including 10 percent off hundreds of sale items and rotating weekly specials such as $10 per pound off wild-caught halibut steaks.Those perks are availab...Read More
Tiger Global Management bought more FB and NFLX, while selling GOOGL sharesA number of high-profile investors adjusted their positions on FANG stocks during the first quarter. Below, we'll break down how hedge funds changed their stakes in Facebook Inc (NASDAQ:FB), Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc (NASDAQ:GOOGL), and Netflix, Inc. (NASDAQ:NFLX) during the first quarter, as well as how...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
Mr. Walter Coles Jr. reportsSKEENA DRILLING INTERSECTS MORE HIGH-GRADE GOLD AT SNIPSkeena Resources Ltd. has released analytical results from the first eight holes of the recently initiated phase 2 underground drilling program at the company's 100-per-cent-owned Snip gold project located in the Golden Triangle of British Columbia.The 2018 phase 2 diamond drill program totalling 11,000 metres is be...Read More
Mr. Walter Coles Jr. reportsSKEENA DRILLING INTERSECTS MORE HIGH-GRADE GOLD AT SNIPSkeena Resources Ltd. has released analytical results from the first eight holes of the recently initiated phase 2 underground drilling program at the company's 100-per-cent-owned Snip gold project located in the Golden Triangle of British Columbia.The 2018 phase 2 diamond drill program totalling 11,000 metres is be...Read More
The 10-year Treasury yield has settled around 3% Dow Jones Industrial Average (DJI) futures are marginally lower this morning, struggling for direction after the blue-chip index's eight-day winning streak was snapped last night. Geopolitical anxiety is once again weighing on investors, as North Korea threatens to cancel the June 12 meeting between Kim Jong Un and President Donald Trump if the U....Read More
YamanaGold Inc. (TSX: YRI; NYSE: AUY) announces that the first pour of gold andsilver dor?(C) at Cerro Moro occurred on Tuesday. Cerro Moro is ahigh-grade gold and silver operation sourcing ore from a combination ofunderground and open-pit mining in Argentina. The ramp-up remains on track,with commercial production expected in the second quarter, Yamana says.Guidance is for output of 85,000 g...Read More