When Jacqueline Hansen from the CBC National News asked me about our take on big US tech stocks, I suggested that recent insider selling in weak FAANG stocks was a warning sign. We address the outlook for FAANG stocks in this week's Insights newsletter. Keeping with that theme, our insider of the week is a FAANG CEO who has been selling. Our clip of the week heads to the gold group which has seen...Read More
Options traders are using premium-selling strategies to bet on the stocksCaterpillar Inc. (NYSE:CAT) and Deere & Company (NYSE:DE) were both downgraded to "market perform" from "outperform" at Wells Fargo, which said it believes "U.S. construction equipment demand is at or near peak," and that slow-to-flat growth in other divisions of the companies "will put downward pressure on earnings power." T...Read More
OLED has pulled back sharply after hitting a record high last weekUniversal Display Corporation (NASDAQ:OLED) touched an all-time high of $230.32 just last week, but the shares have already pulled back significantly since this peak. OLED stock suffered two huge daily slides in the sessions after the milestone, and today it's off another 7.7% at $178.26. This price action is a result of Susquehanna...Read More
"Remodeled 'Brady Bunch' house set to be revealed by HGTV: 'We could be sitting on a gold mine,' says exec https://t.co/AkfVeASJNi"Read full newsRead More
The firm just released early stage data for its wet AMD gene therapy treatmentThe shares of Adverum Biotechnologies Inc (NASDAQ:ADVM) are taking a serious nosedive today, down 32.8% at $8.07, after data from an early stage trial of the company's wet age-related macular degeneration (wet AMD) gene therapy treatment, ADVM-022, were poorly received. As a result, ADVM is trading back near its mid-May...Read More
ACB is near the bottom of the NYSEOne of the worst stocks on the New York Stock Exchange (NYSE) this morning is Aurora Cannabis Inc (NYSE:ACB), down 9.4% to trade at $5.88. The cannabis company's fiscal fourth-quarter revenue fell short of estimates due to lower-than-expected retail sales of recreational marijuana.Perhaps even more damaging, Aurora also pushed back its profitability timeline to f...Read More
ORCL has added 24.6% in 2019Computer technology name Oracle Corporation (NYSE:ORCL) is down 3.3% to trade at $54.42, the stock reeling on the back of the company's lower-than-expected fiscal second-quarter forecast, and news that one of the company's two CEOs, Mark Hurd, will be taking unplanned medical leave. Oracle also shared a fiscal first-quarter revenue miss, but said it still plans to buy...Read More
Trump delayed a tariff hike on Chinese goods to mid-October Dow Jones Industrial Average (DJI) futures areabove fair value this morning, after President Donald Trump delayed an upcoming tariff hike on Chinese goods to Oct. 15 from Oct. 1, citing the People's Republic of China's 70th anniversary as the catalyst for his "gesture of good will." The European Central Bank's (ECB) decision to cut its ke...Read More
In times of market volatility and economic contraction, gold becomes a safe haven investment as investors look for steadier returns and lower risk to their portfolios.Gold, now up almost 18 percent year to date, has been supported near six-year highs by an escalating U.S.-China trade war and fears of a global slowdown which may lead to a recession in the United States.The U.S. Federal Reserve has...Read More
The three-month price of tin on the London Metal Exchange was higher at the close of trading on Wednesday September 11, settling at its highest level since June 21, while a steady downturn across the rest of the complex saw copper fall through its nearby $5,800 per tonne support level.Tin futures traded at an intraday high of $17,750 per tonne, climbing by more than 12% since falling to a four-yea...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 11.Please click...Read More
Zambian copper production will drop by 11.6% this year after a series of tax reforms have led to production cost hikes, an industry body said in a statement on Wednesday September 11.Estimated output will fall by 100,000 tonnes this year, according to Zambia Chamber of Mines (ZCM) chief executive officer Sokwani Chilembo, who added that it would essentially remove Zambia from the global top 10 cop...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday September 11 that are worth another look.Australian multi-metal miner Blackstone Minerals considers Vietnam a reliable and equitable jurisdiction for nickel production and export once the Indonesian ore export ban comes into effect in January 2020, chief executive officer Scott Williamson told Fastmarkets last week.Zambian cop...Read More
Zambian copper production will drop by 11.6% this year after a series of tax reforms have led to production cost hikes, an industry body said in a statement on Wednesday September 11.Estimated output will fall by 100,000 tonnes this year, according to Zambia Chamber of Mines (ZCM) chief executive officer Sokwani Chilembo, who added that it would essentially remove Zambia from the global top 10 cop...Read More
The recent rise in ferro-vanadium and vanadium pentoxide (V2O5) import interest in China will likely add further downward pressure on the Chinese domestic market, market sources told Fastmarkets during the Ferro-alloynet International Vanadium Conference on Tuesday September 10. Some Chinese domestic traders have turned to importing vanadium products into China, stimulated by the continued wide pr...Read More
An overview of the minor metals markets and their latest price moves.Read More
Zambian copper production will drop by 11.6% this year after a series of tax reforms have led to production cost hikes, an industry body said in a statement on Wednesday September 11.Estimated output will fall by 100,000 tonnes this year, according to Zambia Chamber of Mines (ZCM) chief executive officer Sokwani Chilembo, who added that it would essentially remove Zambia from the global top 10 cop...Read More
Turkish steel mills stayed out of the deep-sea scrap market and continued to push for lower prices on Wednesday September 11, sources told Fastmarkets.There have been no bookings confirmed since a steel mill in the Izmir region booked a Baltic Sea cargo of 25,000 tonnes of HMS 1&2 (80:20) at $240 per tonne cfr late on Monday.The steel mills...Read More
Australian multi-metal miner Blackstone Minerals considers Vietnam a reliable and equitable jurisdiction for nickel production and export once the Indonesian ore export ban comes into effect in January 2020, chief executive officer Scott Williamson told Fastmarkets last week. With estimated refined production capacity of 10,000 tonnes per year, the company plans to develop its newly-acquired Vietn...Read More
China's hot-rolled coil prices dropped on Wednesday September 11 after buying interest thinned further.DomesticEastern China (Shanghai): 3,690-3,700 yuan ($519-520) per tonne, down 10-20 yuan per tonneNorthern China (Tangshan): 3,600-3,620 yuan per tonne, down 10-20 yuan per tonneSources in both eastern and northern China said trading was sparse during the day amid softening futures.A Tianjin-base...Read More