China will tighten approvals of steel capacity swapping between companies and ban all new steel capacity in any form, the country's economic planner said on Thursday, in order to streamline the sector.The announcement follows illegal capacity expansions approved by local governments under the cover of capacity swaps, where companies move capacity between different regions to reduce the concentrati...Read More
Options traders have been loading up on puts ahead of the eventRalph Lauren Corp (NYSE:RL) will step into the earnings confessional next week, set to report fiscal fourth-quarter earnings before the open on May 14. Ahead of the event, the stock received a big upgrade from RBC, to "outperform" from "sector perform," as well as a price-target hike to $145 from $135. The analyst in coverage said the...Read More
The tech sector is getting crushedThe market sell-off is continuing at midday, with the Dow Jones Industrial Average (DJI) holding near session lows. A looming Friday deadline for more tariffs on Chinese goods has traders in sell mode, while the Cboe Volatility Index (VIX) spikes to levels not seen since early January. Tech shares in particular are seeing substantial losses, sending the S&P 500 In...Read More
Pot stock profit-share members could receive the next check soon.This one-of-a-kind marijuana profit-sharing plan that could quickly have investors sitting on $17,667... $25,921... $38,898... or even $55,563.And possibly a whole lot more.There are no age limits to this program.No income caps.No complicated hoops to jump through (joining only takes 90 seconds).And most importantly - there are zer...Read More
Pinterest will reveal its first earnings since going publicAlthough earnings season is coming to a close, some big names have yet to report. All eyes will be on Pinterest's (PINS) first earnings report since going public, as well as quarterly results from blue-chip concerns Walmart (WMT) and Cisco Systems (CSCO). Pot concerns Aurora Cannabis (ACB) and Tilray (TLRY) will unveil earnings this week...Read More
Sibanye Gold Ltd. faces competition from two rivals if it wants to buy South African gold mining assets that AngloGold Ashanti Ltd. plans to sell.Sibanye, headed by South Africa's prolific mining deal-maker, Neal Froneman, would be interested in purchasing AngloGold's remaining mine in the country. But he'd likely face a challenge from other producers, notably Harmony Gold Mining Co. and Chinese-b...Read More
The shares have been trending lower since last June's trading debutNoble Capital initiated coverage on electroCore, Inc. (NASDAQ:ECOR) with an "outperform" rating and $19 price target -- a 232% premium to last night's close at $5.71. The brokerage firm said the nerve stimulation specialist's gammaCore technology "is a compelling option for patients suffering from headache to provide pain relief,"...Read More
Sibanye Gold Ltd. faces competition from two rivals if it wants to buy South African gold mining assets that AngloGold Ashanti Ltd. plans to sell.Sibanye, headed by South Africa's prolific mining deal-maker, Neal Froneman, would be interested in purchasing AngloGold's remaining mine in the country. But he'd likely face a challenge from other producers, notably Harmony Gold Mining Co. and Chinese-b...Read More
In its passage last week of legislation that will establish a fund dedicated to easing worker transition in a post-coal economy, Colorado is taking a modest but promising policy step others can follow.Gov. Jared Polis has signaled he will sign HB19-1314, which will create the Colorado Just Transition Office. The bill amounts to the most serious state-government acknowledgement to date that coal-fi...Read More
Alamos Gold of Toronto is drilling more high grade intersections at the producing Island Gold mine 85 km northeast of Wawa. The company is focusing its attention on the Eastern, Main and Western extensions with both surface and underground drilling.Hole MH18-03 was drilled in the 500-metre gap between inferred resources of the Eastern and Main extensions. It assayed 46.11 g/t gold (26.81 g/t cut)...Read More
Alamos Gold of Toronto is drilling more high grade intersections at the producing Island Gold mine 85 km northeast of Wawa. The company is focusing its attention on the Eastern, Main and Western extensions with both surface and underground drilling.Hole MH18-03 was drilled in the 500-metre gap between inferred resources of the Eastern and Main extensions. It assayed 46.11 g/t gold (26.81 g/t cut)...Read More
In our April 29th Insights newsletter, we described how investors had returned to the Bernanke-Obama-Yellen (BOY) playbook by piling into large-cap growth situations to take advantage of loose monetary policy during a period of lacklustre economic growth. This time around, however, monetary conditions are not as accommodating as rates are no longer at zero and QE is long finished. To get a sense...Read More
Aluminium tied up in financing deals and collateral for loans, shortages and inventory draws will sustain prices in the physical market even as funds expecting sluggish demand sell derivatives.Financing deals involve buying aluminium now and selling it forward for a higher price and profit after storage and interest costs have been deducted. These deals are often on a monthly basis and rolled over...Read More
Stamps.com has struggled since its February bear gapShipping giant Stamps.com Inc. (NASDAQ:STMP) is getting slammed in this morning's trading, with the shares already down 54.3% at $38.07, fresh off a four-year low of $36.88. This comes after the company lowered its full-year revenue forecast, which is offsetting first-quarter adjusted profit and revenue beats. Brokerage firm Craig-Hallum quickly...Read More
The media company reported first-quarter earnings and revenue that beat analysts' expectations Shares of entertainment giant Fox Corp (NASDAQ:FOXA) are up in early trading, after the firm announced a first-quarter earnings beat, as well as year-over-year revenue growth that came in higher than analysts' estimates. The media concern's earnings report marks its first as a standalone company, after T...Read More
Investment in mineral exploration in Mexico hit a 12-year low last year, due mainly to social conflicts that forced some companies to halt operations, according to a report published this week by the country's mining chamber, Camimex.Around $383 million was invested in exploration in Mexico last year, down 37.4% from the $612 million registered in 2017Foreign and local companies invested about $38...Read More
Investment in mineral exploration in Mexico hit a 12-year low last year, due mainly to social conflicts that forced some companies to halt operations, according to a report published this week by the country's mining chamber, Camimex.Around $383 million was invested in exploration in Mexico last year, down 37.4% from the $612 million registered in 2017Foreign and local companies invested about $38...Read More
INTC is staring at its fourth straight loss Intel Corporation (NASDAQ:INTC) had an analyst day to forget yesterday, after the chip name forecast modest profit growth over the next three years. The gloomy forecast comes less than two weeks after INTC gapped lower after the company cut its 2019 revenue forecast to $69 billion from $71 billion.This has been followed by a downgrade to "market perf...Read More
Berenberg is targeting a nearly 20% slide for one retailerWedbush downgraded Abercrombie & Fitch Co. (NYSE:ANF) to "underperform" from "neutral," saying the retail stock is priced to "perfection." The brokerage firm also said it expects "measured guidance" when the clothing retailer reports earnings ahead of the open on Wednesday, May 29, as "data shows a sharp increase in discounting as the drive...Read More
Brazilian petrochemical company Braskem SA is preparing alternatives in the event the company is forced to stop its mining activities in the northeastern state of Alagoas, its chief executive officer said on Thursday.A report by the country's Geological Service released on Wednesday blamed mining by Braskem in the city of Maceio for damages to local real estate.State prosecutors requested last mon...Read More