FB put volume hit a record high on TuesdayThe Facebook Inc (NASDAQ:FB) saga continues this morning, as an investor lawsuit and privacy petition surfaced amid the fury of the Cambridge Analytica fallout. FB stock is already pacing for its worst week since March 2014, gapping lower again yesterday on fears of a Federal Trade Communications (FTC) investigation and probes in the U.K. Facebook stock is...Read More
Rising costs caused General Mills to slash its full-year outlookGeneral Mills, Inc. (NYSE:GIS) stock is cratering today, down 7.9% at $45.96, and earlier touching a five-year low of $44.80, after the company reported fiscal third-quarter earnings this morning. While earnings and sales beat expectations, the company slashed its full-year profit outlook. The packaged food giant cited high costs in...Read More
Morgan Stanley sees BLUE shares rallying back to $209bluebird bio Inc (NASDAQ:BLUE) has been a major outperformer over the past year, but the stock has struggled since its March 13 record high of $236.17. In fact, BLUE shares have suffered six straight losses, including a 6.9% pullback last Friday. While this represents the equity's longest losing streak in at least a year, Morgan Stanley is keepi...Read More
BERLIN (Reuters) - All options to respond to planned U.S. tariffs on aluminum and steel will be discussed at a summit of EU leaders this week, a German government official said on Wednesday.The official expressed confidence that the European Union would take a coherent stance on the issue and said there was willingness to talk to the United States about reducing tariffs and other restrictions to t...Read More
Mr. John Anderson reports TRIUMPH GOLD MOBILIZES CREW FOR PHASE 1 DRILLING ON FREEGOLD MOUNTAIN PROJECT, YTTriumph Gold Corp. has dispatched a field crew to the Freegold Mountain property to execute a 1,900-metre diamond drill program targeting the newly discovered porphyry system in the Keirsten zone (see press release No.17-13). Porphyry related mineralization was first discovered in the Keirste...Read More
Mr. John Anderson reports TRIUMPH GOLD MOBILIZES CREW FOR PHASE 1 DRILLING ON FREEGOLD MOUNTAIN PROJECT, YTTriumph Gold Corp. has dispatched a field crew to the Freegold Mountain property to execute a 1,900-metre diamond drill program targeting the newly discovered porphyry system in the Keirsten zone (see press release No.17-13). Porphyry related mineralization was first discovered in the Keirste...Read More
Traders will tune in to Powell's afternoon press conference for more clues on the bank's monetary outlookU.S. stocks are signaling a negative open ahead of today's Fed decision, with futures on the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq-100 (NDX) last seen trading slightly below fair value. Wall Street is fully expecting a rate hike this afternoon, and traders will kee...Read More
Caledonia Mining Corp. Plc. (NYSE American, AIM: CMCL; TSX: CAL), whose primary asset is 49%ownership in the Blanket Mine in Zimbabwe, reports an increased profit in 2017on record gold output. For the fourth quarter, output rose to 16,425 ouncesfrom 13,591 in the same period of 2016. Steve Curtis, chief executive officer,says that “production for the year was a new record, [with] the 56,133...Read More
(Reuters) - The U.S. Interior Department will hold the largest lease sale in American history in the offshore Gulf of Mexico on Wednesday, in a major test of the oil industry’s appetite for federal acreage being offered by the Trump administration.The auction of more than 77 million acres (31.2 million hectares) - an area twice the size of Florida - is part of an effort by President Donald T...Read More
BRUSSELS (Reuters) - German conglomerate Bayer won EU antitrust approval on Wednesday for its $62.5 billion buy of U.S. peer Monsanto, the latest in a trio of mega mergers that will reshape the agrochemicals industry.The tie-up is set to create a company with control of more than a quarter of the world’s seed and pesticides market.Driven by shifting weather patterns, competition in grain exp...Read More
LONDON, (Reuters) - British factory orders lost further momentum this month but remained healthy by historic standards, a survey from the Confederation of British Industry showed on Wednesday.The CBI’s factory order book balance fell to +4 in March from +10 in February, its lowest since October and below all forecasts in a Reuters poll of economists that had only pointed to a modest drop to...Read More
(Reuters) - Cheerios cereal maker General Mills Inc (GIS.N) cut its full-year earnings forecast due to a sharp increase in freight and commodity costs, driving its shares down 9 percent in premarket trading on Wednesday.The Minneapolis-based company, which owns the H??agen-Dazs and Betty Crocker brands, said it would try to strengthen next year’s earnings by improving its distribution networ...Read More
Mark Scanlon, chief executive of Personal Group Holdings plc (LON:PGH), caught up with Proactive to discuss their preliminary results for the year to the end of December 2017.2017's been described as a 'strong' year across much of the Group's operations with underlying earnings (EBITDA) of ?10.8m - a touch ahead of market expectations.Looking ahead Scanlon says the key for them this year will be...Read More
Shares in Canada's First Quantum Minerals (TSX:FM) rebounded slightly on Wednesday, dodging what was about to become their worst two-day drop in almost two years after its chief executive said he was ready to dispute a $7.9 billion bill for alleged unpaid import duties in Zambia.Talking to investors and media during a call conference, Philip Pascall said his company refuted the charge and would wo...Read More
Shares in Canada's First Quantum Minerals (TSX:FM) rebounded slightly on Wednesday, dodging what was about to become their worst two-day drop in almost two years after its chief executive said he was ready to dispute a $7.9 billion bill for alleged unpaid import duties in Zambia.Talking to investors and media during a call conference, Philip Pascall said his company refuted the charge and would wo...Read More
There was a large inflow of gold into exchange-traded-fund vaults at thestart of the week as investors continued to fret over a potential trade war,says BMO Capital Markets. News organizations reported an inflow of some 14.3tonnes, the most since autumn, on Monday. “As trade frictions continue to escalate, macro asset allocationback towards gold is accelerating at the present time,” BM...Read More
HONG KONG (Reuters) - Hong Kong’s Securities and Futures Commission (SFC) on Wednesday imposed a penalty of HK$4.5 million ($573,526) on UBS Group AG’s (UBSG.S) securities unit in Asia for failure to put in place “effective controls” for some client trading activities.During an investigation in 2016, the SFC said UBS Securities Asia failed to provide the watchdog with compl...Read More
BERLIN (Reuters) - The panel of economic advisers to the German government slightly raised its growth forecast for Europe’s largest economy on Wednesday but warned that a spiral of protectionist measures could damage the robust upswing.The five economists who advise the German government on policy said they expected gross domestic product to grow by 2.3 percent this year, up 0.1 percentage p...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
(Kitco News)- Today may mark the pivot for gold's next leg. We suggestedlast week that traders may lighten up on positions until Fed Chair JeromePowell's news conference following the Fed's rate announcement at 2 p.m. EDT. The range of $1,307 - $1,322 has been stickyahead of today's announcement. The Fed will raise rates by 25 basis pointstoday, but there continues to be disagreement on whether Po...Read More