Goldman Sachs likes Varian Medical Systems' exposure to ChinaStocks are finishing the week out strong today, powered by the latest comments from Fed Chair Jerome Powell. Among the notable climbers today are healthcare stock Varian Medical Systems, Inc. (NYSE:VAR), as well as biotechs Regeneron Pharmaceuticals Inc (NASDAQ:REGN) and Biogen Inc (NASDAQ:BIIB). Below, we'll take a look at the news...Read More
Gold futures fell sharply on Friday, suffering from their biggest single-session decline in two weeks, as a stronger-than-expected jobs report reinforced strength in the U.S. economy. Appetite for assets perceived as risky also got a fillip amid a hint of softening trade tensions between the U.S. and China, drawing investor attention away from gold. The U.S. garnered a better-than-expected 312,00...Read More
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Wall Street is cheering the company's new CFOOptions trading is hot again on Square Inc (NYSE:SQ), with the shares surging 12.1% to trade at $59.01 on news the payment processor has picked a new chief financial officer (CFO). At last check, roughly 68,000 calls and 56,000 puts have changed hands on SQ stock -- two times what's typically seen at this point in the trading day, and volume pacing in t...Read More
Mizuho called the pharma stock "very salvageable and cheap"Allergan plc (NYSE:AGN) stock is attempting a comeback today, after a Mizuho Securities analyst said the stock was undervalued -- calling it "very salvageable and cheap." AGN stock took a recent hit after the recall of its textured breast implants in Europe, resulting in a five-year low of $125.84 on Dec. 26. Today, though, AGN is pacing f...Read More
The equity just pulled back to a key trendlineThe shares of Horizon Pharma PLC (NASDAQ:HZNP) touched a two-year high of $23.38 in early November, before pulling back with the broader stock market. However, now could be time to jump in on the next leg higher for HZNP, if recent history is any indicator.Specifically, the pharma stock recently came within one standard deviation of its 160-day moving...Read More
Nonfarm payrolls surged by 312,000 in December. Economists surveyed by Dow Jones had been expecting payroll growth of just 176,000.Wages jumped 3.2 percent from a year ago and 0.4 percent over the previous month. The year-over-year increase is tied with October for the best since April 2009.The unemployment rate rose to 3.9 percent as more workers joined the labor force.Jeff Cox| @JeffCoxCNBCcomPu...Read More
AAPL stock had its worst day in years on ThursdayEven with the New Year's holiday, there was plenty of action to take in on Wall Street for the first trading week of 2019. Most of the trading centered around the huge sell-off in Apple (AAPL) shares, after the iPhone maker lowered its current-quarter outlook due to weakness out of China, which only added to recent jitters about the health of the gl...Read More
INTC has struggled to breakout in recent monthsIntel Corporation (NASDAQ:INTC) is sitting at the top of the Dow today, after BofA-Merrill Lynch upgraded the chip stock to "buy" from "neutral," and lifted its price objective to $60 from $52. The analyst in coverage called INTC a "compelling large-cap investment," and waxed optimistic on the company's shift to a more data-centric model. At last chec...Read More
Wall Street is also optimistic about U.S.-China trade talksThe Dow Jones Industrial Average (DJI) has shot more than 600 points higher today, as traders cheer a strong December jobs report and digest the latest comments from Fed Chair Jerome Powell. The central bank head said the Fed would exercise patience on the path of rate hikes, and will "watch to see how the economy evolves." Elsewhere, Wall...Read More
One of the names was also downgraded at two brokerage firmsApple (AAPL) suppliers took a hit yesterday, after the iPhone maker cut its revenue guidance. The downside had analysts scrambling to readjust ratings on several names, with semiconductor names Analog Devices, Inc. (NASDAQ:ADI) and Qorvo Inc (NASDAQ:QRVO) in particular seeing bearish brokerage attention overnight.Most Analysts Call Analog...Read More
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Bloomberg News/LandovFed Chairman Jerome Powell, pictured with Fed Vice Chairman Richard Clarida,will talk about the job data later Friday. The surprisingly strong December jobs report indicates the Federal Reserve will keep raising interest rates, but the next move might not come for six months, economists said Friday. "Taken in isolation, the [jobs] report would tend to increase the likelihood t...Read More
FLXN was hit with several price-target cutsFlexion Therapeutics Inc (NASDAQ:FLXN) stock is down 3.2% at $11.94 in early trading, and touched a two-year low of $10.98 out of the gate, after the company announced sub-par full-year revenue guidance -- sparking a round of negative analyst attention. Specifically, Benchmark downgraded FLXN to "hold," while Berenberg cut its price target to $28 from $42...Read More
GME is on track for a hard-earned close above its 10-week moving averageThe shares of GameStop Corp. (NYSE:GME) have shot up 11% this morning to trade at $14.39, after buyout buzz surfaced in a Wall Street Journal report. In an article entitled, "As Videogame Market Shifts, GameStop Struggles to Boost Sales," Sycamore Partners and Apollo Global Management were pegged as potential suitors for GME (...Read More
ALGN had been one of the best stocks in recent yearsInvisalign parent Align Technology, Inc. (NASDAQ:ALGN) was one of the darlings of the bull market in recent years. The shares boomed from their early 2017 perch in the mid-90s to their September 2018 record high of $398.88 -- but the tide has been turning since. Most notably, ALGN stock suffered a massive bear gap in October, and steadily fell in...Read More
NFLX shares are set to open up 4%The shares of Netflix, Inc. (NASDAQ:NFLX) are up 4% in electronic trading this morning after Goldman Sachs added the FAANG name to its "conviction list." Goldman Sachs believes Netflix offers one of the best risk/reward propositions of all the U.S. internet stocks, noting the company's commitment to content will keep driving subscriber growth. While the brokerage...Read More
Wage growth saw its biggest rise in almost 10 yearsDow Jones Industrial Average (DJI) futures are trading more than 200 points above fair value this morning. The jobs report for December is the top story on Wall Street, after the U.S. economy added 312,000 jobs last month, torching estimates of 176,000. Moreover, wages increased by the most since 2009, though the unemployment rate did tick back up...Read More
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Canadian merger-and-acquisition activity is expected to strengthen in 2019 as a slump in oil prices could fuel consolidation among energy companies and cannabis deals gain momentum, M&A advisers said.Deal volume jumped 15 percent to a 12-year high of $275.2 billion in 2018, from a year ago, according to figures from Refinitiv. Buyout firms dominated big-ticket deals in the financial services, real...Read More