The brokerage firm downgraded a stock that's had a huge yearMirati Therapeutics Inc (NASDAQ:MRTX) shares have had a huge year, rallying from the low $40 area to a record high of $111.99 on July 31. However, the cancer drug producer has shed 4.9% today to trade at $99.47, following a bear note out of J.P. Morgan Securities. The brokerage firm downgraded its view on MRTX to "underweight" from "neutr...Read More
Square stock is still up 31% in 2019, thoughUsually when we check in with Square Inc (NYSE:SQ), it's because of some lofty bull note or bullish activity in its options pits. Today however, Square stock is down 13.7% to trade at $69.92, after the payment processor's quarterly report. While second-quarter earnings and revenue exceeded analyst expectations, Square's third-quarter profit forecast mis...Read More
The weed company bought U.S.-based Redwood for $300 millionCanadian marijuana grower Cronos Group Inc (NYSE:CRON) announced early this morning that it will buy U.S. hemp-based products producer Redwood for $300 million. The company manufactures and sells CBD infused skincare and other products, mostly known for its Lord Jones brand. In response, CRON stock is up 4% to trade at $13.24, set to break...Read More
Loop Capital said investors should "step into any weakness"Shares of small shops platform Etsy Inc (NASDAQ:ETSY) are sinking this morning, down 5.3% at $64.50, at last check. Despite reporting a second-quarter earnings beat of 14 cents per share, the company's revenue missed estimates. Analysts do not seem deterred, however, with no fewer than three price-target hikes and one bullish reiteration...Read More
Oil prices are bouncing back today after a mixed jobs reportDow Jones Industrial Average (DJI) futures are under pressure, extending Thursday's sharp afternoon pivot following the latest trade threat from President Donald Trump. China's foreign ministry has responded today by promising countermeasures in response to new tariffs -- and exacerbating anxiety this morningis the July jobs report, which...Read More
Fed rate cuts and Trump's push for a lower dollar should increase the value of gold.Low and negative-yielding bonds will entice investors to look for an alternative investment.Equity markets push higher even though trade war tensions are increasing, making gold and other commodities increasingly attractive.Using JNUG to capitalize on an upswing from gold.Intro As major indices are reaching all...Read More
Rate Cut Expectations Boost Gold Mining Stocks' OutlookRead full newsRead More
The breakout in June was a significant event.The Fed and ECB kept the bullish party going in July.Validation of the bull market comes from the global currency markets.Gold could reach $2000 per ounce a lot sooner than most market participants believe.Gold mining stocks will magnify the move - the GDXJ ETF has explosive potential.For anyone who appreciates history, gold is an asset that has capture...Read More
Globally, central banks added a net 126.5 tons of gold to their reserves last month.Poland accounted for the bulk of the big June increase in central bank gold reserves.That brings total reported central bank gold purchases on the year to approximately 378 net tons.By SchiffGold Central banks continued to buy gold in June, according to the latest data released by the World Gold Council. Globally,...Read More
Vancouver, BC - Peekaboo Beans Inc (CSE:BEAN | OTCQB:PBBSF) (the "Company" or "Peekaboo Beans") is pleased to update investors and shareholders on the Company's subscription box service.Recent data from PipeCandy has reported on the definitive interest that has been generated within the industry following Unilever's acquisition of Dollar Shave Club for $1 billion. Following the acquisition, th...Read More
Zinc was lower at the close of trading on the London Metal Exchange on Thursday August 1, falling by some 1.3%, although nickel eked out some gains above $14,500 per tonne. Zinc and lead futures were the day's underperformers, closing at $2,404 per tonne while and below resistance at $2,000 per tonne respectively. The zinc-lead price differential, or switch, continues to narrow from earlier this y...Read More
Shanghai-bonded copper stocks hit an eight-month low at the end of July due to a fall in refined copper imports so far this year, while nickel and aluminium inventory rose due to arbitrage losses that are discouraging traders from delivering materials out of the bonded zone. Copper stocks hit their lowest level since mid-November Zinc stocks declined amid long-contract clearance, transshipme...Read More
A 10% month-on-month drop in Shanghai-bonded copper stocks in July has been more than offset by climbing exchange stocks, which have dampened any supportive effect on copper prices in China. Shanghai-bonded copper stocks fell to an eight-month low in July, reflecting much less refined copper imports so far this year. Nonetheless, increasing copper stocks in London Metal Exchange and Shanghai Futur...Read More
Multi-year lows in smelting income have sharply reduced China's production of intermediate copper products, which are primary smelting products and feed to produce copper cathodes, forcing dozens of domestic refineries to search for these materials overseas. "I have got inquiries for blister copper from eight refineries in just a week. I haven't seen anything like that before. It's such a shame th...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average finished down nearly 300 points Thursday after President Trump said the U.S. would impose an additional 10% tariff on $300 billion in Chinese goods. Verizon Communications (VZ - Get Report) slipped after the telecom giant posted better-than-expected second-quarter earnings and increased its full-ye...Read More
Key data from the Wednesday July 31 pricing session in Shanghai and London. Key drivers Cobalt hydroxide payables recover slightly in the second half of July alongside a slight recovery in cobalt sulfate prices in the last week of the month. Greater optimism in China comes from falling standard grade cobalt prices, which eases production margins. Inquiries and business both...Read More
China's imports of manganese ore from Ghana in the first half of 2019 overtook imports of Australian ore, Chinese customs figures show. China imported 2.58 million tonnes of ore from Ghana in the January-June this year compared with 2.39 million tonnes of Australian ore. In the same period of 2018, China imported 1.26 million tonnes of manganese ore from Ghana and 2.27...Read More
Steel mills in Turkey continued to stay out of the deep-sea scrap markets because of limited trading activity in the finished long steel and billet markets, sources said on Thursday August 1.Despite offers for Baltic Sea- and US-origin HMS 1&2 (80:20) at around $290-295 per tonne cfr levels, mills have been unwilling to pay those prices before selling some of their own products. "There are Baltic...Read More
Fastmarkets is extending until August 31 the consultation period for its proposal to launch a daily containerized steel scrap cfr Vietnam assessment.Fastmarkets made this decision because responses to the original consultation so far could not definitively define the liquidity of a daily spot market and its suitability for a daily price assessment.The proposed specification is as follows:Assessmen...Read More
Multi-year lows in smelting income have sharply reduced China's production of intermediate copper products, which are primary smelting products and feed to produce copper cathodes, forcing dozens of domestic refineries to search for these materials overseas. "I have got inquiries for blister copper from eight refineries in just a week. I haven't seen anything like that before. It's such a shame th...Read More