Taking a look at Wall Street's reaction to the M&A buzz surrounding Forty SevenDrugmaker Forty Seven Inc (NASDAQ:FTSV) hit yet another all-time high of $94.68 today, and was last seen up 0.3% at $94.22. This comes just one day after its impressive 61% surge during yesterday's trading -- sparked by news that Gilead Sciences (GILD) agreed to purchase the company for $4.9 billion, or $95.50 per share...Read More
Some traders might be betting on more downside in the coming weeksTwo straight weeks in this space we've looked at individual stock charts, but the chaotic market conditions recently have made it fairly difficult to "pinpoint" any real trends among many individual equities or exchange-traded funds (ETF). Instead it may be more helpful to take a broader view of the trading activity we've seen, incl...Read More
The Fed's surprise rate cut comes in the wake of economic coronavirus headwindsThe Dow Jones Industrial Average (DJI) is off over 555 points midday, as Wall Street digests the Fed's decision to make an emergency rate cut by half a percentage point, to ease the impact of coronavirus-related economic headwinds. This news is devastating the financial sector, with some investors initially pricing in a...Read More
A brutal quarterly report loss caused Tilray's stock to plunge furtherTilray Inc (NASDAQ:TLRY) reported its earnings last night and its shares seem to be in for a dismal day as a result. The cannabis supplier reported a fourth-quarter loss of $1.02 per share, much steeper than the estimated loss of 35 cents. TLRY's reported revenue of $46.94 million also arrived much lower than anticipated $55.38...Read More
INO is nearing its Jan. 27 annual highAs coronavirus panic grips the world, there's a scramble among drug companies to develop a vaccine as soon as possible. One such name is Inovio Pharmaceuticals Inc (NASDAQ:INO). After biotech accelerated its coronavirus vaccine development, INO's stock is up 19.2% to trade at $5.23 this morning. The company plans on starting human trials by April in the U.S.,...Read More
TGT is down 16.5% year-to-dateTarget Crop (NYSE:TGT) has been in sell-off mode since last week's broad-market pullback. Shares of the retail giant are continuing the trend today, down 2% at $106.88, after battling the falling demand for toys and electronics. This, paired with competition the brick-and-mortar retailer is facing amid a consumer-base that leans toward e-commerce, pushed the company t...Read More
Vancouver, BC - good natured Products Inc. (TSX-V:GDNP) (the "Company" or "good naturedTM") today announced that it has entered into a definitive agreement with the shareholders of Shepherd Thermoforming & Packaging Inc., ("Shepherd") a leading thermoformer with over 35 years' experience, to acquire 100% of Shepherd and all its real estate assets for CAD$9.5 million in cash (the "Share Purchase")...Read More
Here is what's new today on INK Ultra Money. INK Research subscribers have access to both premium and free content. If you are asked to sign in, select Canadian Insider as your subscription website.1. A near million-dollar bet on healthier days - INK ResearchThe coronavirus is serving up a wide range of risks. In this report, INK Research looks at Teck Resources (TECK), a stock that could perform...Read More
Thermo Fisher just agreed to buy Qiagen in a $11.5 billion deal The shares of German-based biotech name Qiagen NV (NYSE:QGEN) are soaring this morning, up 15.6% to trade at $41.75 after Thermo Fisher Scientific (TMO) agreed to buy the genetic testing company for $11.5 billion in order to strengthen its health diagnostic business. Evercore ISI added that "the assets will fit well together and make...Read More
The blue-chip index is signaling triple-digit gains going into todayDow Jones Industrial Average (DJI) futures are higher despite a less-than-assuring statement from the Group of Seven industrial powers this morning. The G-7 confirmed they were committed to using "all appropriate policy tools to achieve strong, sustainable growth," to assuage coronavirus concerns, but then left investors scratchin...Read More
TORONTO - Today, Greg Rickford, Minister of Energy, Northern Development and Mines, announced Ontario is investing more than $10.5 million in 28 companies that supply products and services to the mining industry. This funding will help create or retain over 180 jobs.Investments made through the Northern Ontario Heritage Fund Corporation (NOHFC) include: $1 million for Coloured Aggregates Inc. in...Read More
Debuting at AME Roundup last January, the "soft launch" of Lantern was anything but soft. With giant projections on the sides of nearby buildings and miniature mining lanterns trading hands across the floor, the buzz around the young start-up's interactive booth was as energetic as its name.Attracting interest from an equal mix of drilling, mining and mineral exploration companies, Lantern brings...Read More
Traditionally, dropping a plug for cementing, grouting, wedging or any one of several downhole applications has taken three rod trips: one for pulling the entire drill string out of the hole, two for installing a rod shoe and going back down, and three for pulling the rods after a plug was set. It's a feat that's taken many hours across multiple shifts to achieve, assuming no mistakes were made al...Read More
Justin Trudeau's new tax incentive would make it more affordable to invest in mining equipment. (Read More
Here are five Fastmarkets stories you might have missed on Monday March 2 that are worth another look.The China Council for the Promotion of International Trade (CCPIT) has issued 1,615 force majeure certificates to businesses in China affected by the novel coronavirus (2019-nCOV) outbreak.The price of European aluminium ingot 226 continued to climb on Friday February 28 due to strong domesti...Read More
Publication of Fastmarkets' assessment of blister copper refining charges (RCs) for February was delayed by a reporter error.The copper blister 98-99% RC, spot, cif China, is normally published on the last trading day of the month.The price should therefore have been published on Friday February 28. It was instead published on Monday March 2. The price was $135-145 per tonne in the latest assessme...Read More
Spot trading interest in copper intermediate products has surged among Chinese smelters who are eager to make up for copper output lost during the coronavirus (2019-nCoV)-led logistics lockdown in February. Logistics operations are resuming across Chinese provinces and copper production has picked up, leading to several thousand tonnes of blister copper reported as being sold into the country. Fas...Read More
Jack ChanPosted Mar 2, 2020Gold sector as represented by $HUI is on a long-term BUY signal.Long-term signals can last for months and are more suitable for investors.Short-term is on SELL signal. Short-term signals can last for days and weeks and are more suitable for traders.Speculation on gold is at a new high, but what's more important is, a new speculative bottom is now established. That will h...Read More
Robert WutscherThe Unseasoned EconomistPosted Mar 2, 2020On money neutrality and the phenomenon of forced saving - how wealth is surreptitiously transferred from consumers to capital owners.In this third article to this series on inequality, we will see how, by targeting the CPI that ignores productivity-induced price deflation, savings are surreptitiously taken from consumers and handed over to c...Read More
Spot trading interest in copper intermediate products has surged among Chinese smelters who are eager to make up for copper output lost during the coronavirus (2019-nCoV)-led logistics lockdown in February. Logistics operations are resuming across Chinese provinces and copper production has picked up, leading to several thousand tonnes of blister copper reported as being sold into the country. Fas...Read More