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RAD stock has nearly tripled in the last two weeksRite Aid Corporation (NYSE:RAD) stock has been ripping higher since the drugstore chain reported a third-quarter revenue beat the morning of Dec. 19, while also lowering its full-year net loss outlook. Since its Dec. 18 close at $8.32, RAD shares are up 157% -- including today's 11.6% pop that has the equity trading at $21.42, pacing toward a seven...Read More
The Nasdaq is in the midst of a 12-day winning streakWall Street had a lot to celebrate during the holiday-shortened week. Although Christmas and Christmas Eve led to lower trading volumes, that didn't stop the Dow, S&P 500, and Nasdaq from nabbing record closes left and right. The tech-heavy Nasdaq in particular broke out, and is currently heading toward its 12th straight win. U.S.-China trade op...Read More
The tech-heavy index is headed for a 12th straight daily winThe Dow Jones Industrial Average (DJI) hit a new high out of the gate today, extending a Christmas week rally that's put the blue-chip index on track for a third straight weekly win. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) also tagged fresh peaks today, with the latter index holding above the round 9,000 mark, and pacing towar...Read More
TSLA has soared 144% since early JuneShares of electric car maker Tesla Inc (NASDAQ:TSLA) nabbed a new record high of $435.31 out of the gate, after revealing it will deliver the first 15 Model 3 cars made in its Shanghai factory on Monday. While the shares have since pared those gains to trade up 0.2% at $431.58, today's lift is just another step in a long-term climb for TSLA. The stock now up...Read More
An exodus of short sellers could push FLXN even higherThe shares of Flexion Therapeutics Inc (NASDAQ:FLXN) are near the top of the Nasdaq this morning, up 10.8% to trade at $21.01, and nabbed a new annual high of $22.98 out of the gate. Powering today's surge is a Food and Drug Administration (FDA) updated label approval of Zilretta, the company's osteoarthritis treatment. At least three brokera...Read More
The FDA just approved the company's fast track application for its breast cancer drug yesterdayImmunomedics, Inc (NASDAQ:IMMU) is climbing towards another annual closing high today, up 2.3% at $22.16, after H.C. Wainwright lifted its price target to $31 from $26. This bull note come right on the heels of yesterday's news that the Food and Drug Administration (FDA) accepted the firm's resubmitted B...Read More
The Santa Claus rally is in full swing this yearFresh off a post-Christmas climb to new record highs, Dow Jones Industrial Average (DJI) futures are signaling a nearly triple-digit pop out of the gate this morning. The S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also on pace for positive opens today, with the Santa Claus rally taking a strong hold this year amid trade tailwinds. The latt...Read More
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The China Smelters Purchase Team (CSPT) has set its treatment and refining charges (TC/RCs) purchase price floor for the first quarter of 2020 at $67 per tonne and 6.7 cents per lb, sources told Fastmarkets on Thursday December 26.The CSPT, which comprises purchasing managers from the country's largest copper smelters, made the decision at its quarterly meeting in Fuzhou city, Fujian province, on...Read More
Base metals prices on the Shanghai Futures Exchange were mixed at the close of the morning trading session on Thursday December 26, with activity remaining limited ahead of year-end holidays."It is the holiday season and market activity is very thin because many people are on their vacation now," a base metals analyst in Shanghai told Fastmarkets.Participants have been winding down ahead of holida...Read More
Copper cathode premiums in China fell this week amid year-end destocking, a lack of significant spot demand and a persistently closed import arbitrage window between Shanghai and London.Fastmarkets assessed the copper grade A cathode premium, cif Shanghai at $42-55 per tonne on Tuesday December 24, down by $8 per tonne from $50-63 per tonne a week earlier. The latest assessment marks the lowest si...Read More
The China Smelters Purchase Team (CSPT) has set its treatment and refining charges (TC/RCs) purchase price floor for the first quarter of 2020 at $67 per tonne and 6.7 cents per lb, sources told Fastmarkets on Thursday December 26.The CSPT, which comprises purchasing managers from the country's largest copper smelters, made the decision at its quarterly meeting in Fuzhou city, Fujian province, on...Read More
Key data from Fastmarkets' pricing session in China on Wednesday December 25.Key drivers Cobalt sulfate prices ticked up on Wednesday amid increased inquiries from consumers who need to restock ahead of a temporary suspension of logistics services, which will take place around mid-January, a week before the Chinese New Year holiday (January 24-30).Meanwhile, producers have broadly...Read More
Key data from Fastmarkets' pricing session in China on Wednesday December 25Key drivers After declining for six weeks, Fastmarkets assessed the price of antimony, MMTA standard grade II, ddp China as flat week on week at 36,500-37,000 yuan ($5,219-5,291) per tonne on Wednesday December 25.Many suppliers had kept their offer prices unchanged over the past week.Some consumers had re-entered the mark...Read More
Key data from Fastmarkets' pricing session in China on Wednesday December 25.Key drivers Cobalt sulfate prices ticked up on Wednesday amid increased inquiries from consumers who need to restock ahead of a temporary suspension of logistics services, which will take place around mid-January, a week before the Chinese New Year holiday (January 24-30).Meanwhile, producers have broadly...Read More
China's hot-rolled coil producers kept their export offers high on Thursday December 26 amid stability in the domestic market.DomesticEastern China (Shanghai): 3,890-3,910 yuan ($556-559) per tonne, widening upward by 10 yuan per tonneNorthern China (Tangshan): 3,640 yuan per tonne, narrowing upward by 10 yuan per tonneA Shanghai-based trader reported moderate trading activity in eastern China dur...Read More
Northern China's Puyang Iron & Steel (Puyang Steel) plans to add 1.37 million tonnes per year of iron-making capacity and 1.52 million tpy of crude steel capacity in December 2021, according to Hebei Provincial Industry & Technology Information Department. New facilities: one 1,580-cubic-meter blast furnace, one 140-tonne converterConstruction start date: March 2020Location: Handan city,...Read More
Two steel mills in northern China have sold 2.21 million tonnes per year of iron-making capacity and 1.52 million tpy of crude steel capacity to mills in the southern region, according to local government notices released earlier this week.Seller: Hebei Chengde Shengfeng SteelLocation: Chengde city, Hebei provinceCapacity sold: 1.48 million tpy of iron-making capacity, 1.52 million tpy of crude st...Read More
China's domestic rebar prices dropped further in the morning of Thursday December 26 on weak demand, though they recovered in the latter part of the day due to rising futures. Eastern China (Shanghai): 3,610-3,660 yuan ($516-523) per tonne, down 20-40 yuan per tonneNorthern China (Beijing): 3,480-3,520 yuan per tonne, down 10-20 yuan per tonnePrices in eastern China dropped to 3,610-3,630 yuan per...Read More