Global economic growth is forecast to ease to a weaker-than-expected 2.6% in 2019 before inching up to 2.7% in 2020, the World Bank says in its June 2019 Global Economic Prospects: Heightened Tensions, Subdued Investment. Global growth in 2019 has been downgraded 0.3 percentage point below previous forecasts, reflecting weaker-than-expected international trade and investment at the start of...Read More
Global economic growth is forecast to ease to a weaker-than-expected 2.6% in 2019 before inching up to 2.7% in 2020, the World Bank says in its June 2019 Global Economic Prospects: Heightened Tensions, Subdued Investment. Global growth in 2019 has been downgraded 0.3 percentage point below previous forecasts, reflecting weaker-than-expected international trade and investment at the start of...Read More
Venezuela has defaulted on a gold swap agreement valued at $750 million with Deutsche Bank AG, prompting the lender to take control of the precious metal which was used as collateral and close out the contract, according to two people with direct knowledge of the matter.As part of a financing agreement signed in 2016, Venezuela received a cash loan from Deutsche Bank and put up 20 tons of gold as...Read More
Loop Capital just upgraded the stock to "buy" from "hold"Streaming giant Netflix, Inc. (NASDAQ:NFLX) has seen a rough past couple of days, as regulatory concerns weighed on FAANG stocks. Plus, at Friday's close, the equity had clocked four straight weeks in the red, and dropped beneath the $340 region yesterday for the first time since early February, ending at $336.63. The shares have recovered s...Read More
Analysts are overwhelmingly bullish on the cancer nameMizuho initiated coverage on Neon Therapeutics Inc (NASDAQ:NTGN) with a "buy" rating and $21 price target -- a 333% premium to last night's close. The brokerage firm said NTGN's low share price is a result of confusion around neoantigens science, which studies a new cancer therapy. LifeSci Capital also chimed in, saying the cancer researcher's...Read More
The Trump administration is attempting to dial down the tension with Iran, lowering the risk of military conflict and pushing for diplomatic negotiations.On Sunday, U.S. Secretary of State Mike Pompeo said that the U.S. was ready to negotiate with Iran with "no preconditions," a shift in strategy after laying out a list of 12 hardline demands last year, a list that seemed to be a set of precondi...Read More
An unwinding of bearish bets could provide leverage for the shares The shares of Monster Beverage Corp (NASDAQ:MNST) have remained fairly stable amid the recent market volatility, consolidating nicely since an early May bull gap to form a cup and handle formation on the charts. Looking closer, the stock has found support at a 61.8% Fibonacci retracement of its 2018 high and low, suggesting it coul...Read More
Powell said the Fed is ready to "act as appropriate" to support the economyThe Dow Jones Industrial Average (DJI) is red-hot today, up more than 400 points as easing trade worries spark the risk-on session. Dovish comments from Fed Chair Jerome Powell are only fanning the bullish flames, with the head of the central bank earlier saying it's prepared to "act as appropriate" to support economic grow...Read More
Sandspring Resources Ltd. (TSX-V:SSP) came out Tuesday with positive results from a preliminary economic assessment (PEA) on the Toroparu gold project in Guyana.Key highlights of the report include: 4.5moz of production, with 3.64 moz produced in dor?(C) bars, over a 24-year mine life - up from 3.7moz from the prefeasibility study (PFS) released in 2013. The measured and indicated resource has als...Read More
Sandspring Resources Ltd. (TSX-V:SSP) came out Tuesday with positive results from a preliminary economic assessment (PEA) on the Toroparu gold project in Guyana.Key highlights of the report include: 4.5moz of production, with 3.64 moz produced in dor?(C) bars, over a 24-year mine life - up from 3.7moz from the prefeasibility study (PFS) released in 2013. The measured and indicated resource has als...Read More
BTIG issued very bullish notes on UBER and LYFT stocksSifting through this morning's news cycle on Wall Street, a few names stick out. First off, Take-Two Interactive Software, Inc. (NASDAQ:TTWO) just received another positive analyst note, with BMO upgrading its rating to "market perform" from "underperform" and boosting its price target to $110 from $95. The covering analyst called out the video...Read More
Capstone Mining Corp. (TSX: CS) announced Tuesday it has entered into an agreement to sell its 100% interest in the Minto copper mine to Pembridge Resources PLC (LON:PERE). Capstone has reportedly been working on a sale as early as February 2018.Located about 240km north Whitehorse in Canada's Yukon territory, the Minto mine is currently on care and maintenance. At the time of its suspension in Oc...Read More
Capstone Mining Corp. (TSX: CS) announced Tuesday it has entered into an agreement to sell its 100% interest in the Minto copper mine to Pembridge Resources PLC (LON:PERE). Capstone has reportedly been working on a sale as early as February 2018.Located about 240km north Whitehorse in Canada's Yukon territory, the Minto mine is currently on care and maintenance. At the time of its suspension in Oc...Read More
Australian mine developer Clean Teq said on Tuesday it was looking to sell a stake in its nickel, cobalt and scandium project in central New South Wales, as it seeks a cornerstone partner to help fund development.The company has tasked Macquarie Capital to run a process to find a partner to buy up to 50% in the Sunrise Battery Materials Complex, in combination with long-term offtake, it said in a...Read More
Japan's Nippon Steel Corp said any move by Washington to impose tariffs on Japanese cars and auto parts will hurt its earnings, but expects less of a direct impact from proposed tariffs on U.S. imports from Mexico.Aiming to curb a surge in illegal immigration, U.S. President Donald Trump said last week he would target all goods coming from Mexico with a 5% tariff from June 10, increasing to 25%, u...Read More
Canaccord said it has defended BOX for too longShares of cloud concern Box Inc (NYSE:BOX) are eyeing their fifth straight day in the red, after the firm lowered its full-year guidance below analysts' expectations. Thecompany blamed a longer-than-usual sales cycle for its bigger deals. BOX stock fell to a new two-year low of $15.30 earlier, and was last seen down 11.3% at $15.91.The brokerage bunch...Read More
KSS snapped a 12-day losing streak on MondayAtlantic Equities downgraded Kohl's Corporation (NYSE:KSS) to "underweight" from "neutral," and slashed its price target to $42 from $65 -- a 16.5% discount to last night's close. In reaction, KSS stock is down 0.1% at $49.80, sinking below the round $50 mark.This negative price action is just more of the same for the retail stock. Since its April 23 fiv...Read More
The joint venture could produce "hundreds of metric tons of CBD annually"Add yet another name to the hemp landscape. This morning, drugmaker Sorrento Therapeutics Inc (NASDAQ:SRNE) announced a joint venture with Chinese medical device maker LifeTech Scientific to sell cannabidiol (CBD) products in Asia. Sorrento said the partnership could help it "deliver hundreds of metric tons of CBD annually...Read More
There has been no shortage of fighting talk about Australia's lack of cohesive energy and carbon policies in recent weeks, with the only certainty being the combative rhetoric makes a lasting solution more of a fantasy.Australia is the world's third-biggest exporter of energy behind crude oil heavyweights Saudi Arabia and Russia, thanks mainly to its status as the biggest shipper of coal and lique...Read More
There has been no shortage of fighting talk about Australia's lack of cohesive energy and carbon policies in recent weeks, with the only certainty being the combative rhetoric makes a lasting solution more of a fantasy.Australia is the world's third-biggest exporter of energy behind crude oil heavyweights Saudi Arabia and Russia, thanks mainly to its status as the biggest shipper of coal and lique...Read More