Walt Disney earnings are also dueAmid a relatively light economic calendar, Wall Street will be watching another big dose of corporate earnings reports. While ride-hailing names Lyft (LYFT) and Uber (UBER) will each make their second appearances on the earnings stage since going public earlier this year, blue chip Walt Disney (DIS) will step up to the plate following the Dow stock's record-setting...Read More
"Great Panther Announces High Grade Drilling Results from Exploration Program at the Tucano Gold Mine https://t.co/0PKNkubXkI"Read full newsRead More
AMAG Pharmaceuticals has earnings coming up tooWomen's healthcare concern AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) has underperformed in a big way in the past year, but analysts at H.C. Wainwright see a trend change coming. The brokerage firm this morning began coverage with a "buy" recommendation and $16 price target -- almost double Wednesday's close of $8.26. The shares have added 8.4% out of...Read More
Short sellers are likely heading for the hills todayOne of the best stocks on Wall Street today is SunPower Corporation (NASDAQ:SPWR), up 35% to trade at $15.10, and earlier nabbing a three-year high of $15.67. The alternative energy issue reported second-quarter revenue of $481.90 million -- topping expectations of $451.64 million -- while also upping its fiscal-year outlook. SunPower cited grow...Read More
FIT has been struggling since a late-February post-earnings bear gapExercise apparel name Fitbit Inc (NYSE:FIT) is suffering a massive selloff this morning, last seen down 20.1% at $3.36, a penny above the all-time low it tapped this morning. The fitness device company last night cut its full-year revenue forecast to between $1.43 billion and $1.48 billion, due to poor sales of its latest smartwa...Read More
Shopify shares are exploring new highsThe shares of Shopify Inc (NYSE:SHOP) are soaring this morning, after the e-commerce company stepped into the earnings confessional. The Canadian firm reported second-quarter earnings and revenue that blew away analysts' expectations, and lifted its full-year revenue forecast. The earnings beat has SHOP stock up 8% at $343.09 in early trading, exploring record...Read More
Oil prices are pointed lower ahead of the openDow Jones Industrial Average (DJI) futures are trading just barely north of fair value this morning, after stocks sold off yesterday in the wake of what Fed Chair Jerome Powell described as a "midcycle adjustment" by the central bank -- a description of the quarter-point rate cut that wasn't quite as dovish as some market participants had hoped. Presid...Read More
(Reuters Breakingviews) - The word most frequently used by Greeks to describe th...Read full newsRead More
"Great Panther Announces High Grade Drilling Results from Exploration Program at the Tucano Gold Mine https://t.co/xwvIDtx4AY"Read full newsRead More
Gold prices have traded sideways in recent days, driven by a "wait and see" approach among market participants.The risk of speculative profit-taking in Comex gold is elevated at this juncture.But central bank and ETF gold buying should remain buoyant in H2 2019.BAR: While weakness cannot be ruled out early in August, we think that BAR will post a monthly gain in August - our target is at $14.55 pe...Read More
For central banks, gold is now equivalent to cash.European Central Banks end their gold selling agreements after 20 years, a bullish sign towards the acquisition of more gold.European financial regulators are also defining gold as equivalent to cash in their currency control framework.While they will never publicly admit it, their actions recognize gold as money. They just won't let the people...Read More
(Kitco News) - Unlike bitcoin, Facebook's Lira is backed by fiat currencies, which altogether make it more investable as a trading vehicle, this according to Peter Schiff, CEO of Euro Pacific Capital. "I'm happy with Facebook coming up with what I believe would be superior to bitcoin because it would be a digital currency backed by something," he said. However, Schiff noted that the fiat currenci...Read More
Zinc premiums dipped in Europe but were flat elsewhere, reflecting the onset of the summer slowdown, although US demand for lead and zinc is reportedly improving. SHG zinc premiums drop in Antwerp, backwardation in forward curve re-emerges Cash/three-month spread swings to $13 backwardation vs contango last week Some US lead buyers picking up tonnages at low numbersNorth European premiums down, ba...Read More
The three-month nickel price on the London Metal Exchange climbed by 1.4% at the close of trading on Wednesday July 31, shaking off downward momentum emanating from an expected US Federal Reserve interest rate cut and subsequent dollar incline. Nickel futures closed at $14,490 per tonne on Wednesday, climbing from an intraday low of $14,255 per tonne while just over 7,000 lots of metal traded over...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average tumbled more than 300 points Wednesday after the Federal Reserve cut interest rates by 25 basis points and Fed Chair Jerome Powell hinted that future cuts are not guaranteed. Apple (AAPL - Get Report) traded higher after the iPhone maker posted fiscal-third-quarter earnings and revenue that topped a...Read More
The US nickel briquette premium narrowed in the week to Tuesday July 30 with the material no longer being offered or traded at lower premium levels, while the nickel premium markets in China and Europe were quiet on a lack of import incentive and summer slowdowns respectively. US briquette premium narrows with business concluded at higher levels despite seasonal lull Chinese premiums flat wh...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday July 31 that are worth another look.A fundamental industry that has always been a primary facilitator of global trade, shipping aims to be at the forefront of digital technology. This report explores initiatives at the Dutch Port of Rotterdam - Europe's largest port by cargo tonnage - and how those connect with global tra...Read More
Global integrated miner Nyrstar will be run as an independently operated company within the Trafigura group after a deal was concluded with its creditors and completed on Wednesday July 31.Trafigura now holds 98% of the outstanding shares in the new NN2 operating company, which will be run by its long-time assets head, Daniel Vanin.The Nyrstar 'ListCo" owns 2% of the new company and will continue...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
A fresh wave of stockpiling activities boosted the Chinese cobalt metal spot market price on Wednesday July 31. Fastmarkets assessed the price of cobalt 99.8% Co min, exw China at 222,000-232,000 yuan per tonne ($12.83-13.53 per lb, minus China VAT) on Wednesday, up 0.9% from 220,000-230,000 yuan per tonne on July 26. Renewed speculative buying this week was prompted by a combination of an ea...Read More