Two of today's biggest stock moves are coming from NAV and RCIIThe Dow is holding modest gains today despite a huge decline in oil prices. Three of today's biggest stock moves are coming from truck producer Navistar International Corp (NYSE:NAV), retailer Rent-A-Center Inc (NASDAQ:RCII), and storied soccer franchise Manchester United PLC (NYSE:MANU). Let's take a closer look at the shares of NAV,...Read More
BRITISH COLUMBIA - Toronto-based Seabridge Gold has promising induced potential and drilling results from its 100% owned Iskut gold property 110 km northwest of Stewart. All indications point toward a large copper-gold porphyry system.The results indicate a robust hydrothermal breccia containing abundant clasts of chalcopyrite-pyrite-magnetite in veined intrusive rocks and stock works positioned o...Read More
Shares of TTWO are up after Buckingham Research weighed inAt last check, shares of Take-Two Interactive Software, Inc. (NASDAQ: TTWO) were up nearly 2% to trade at $104.22, after Buckingham Research assumedcoverage of the "Red Dead" creator with a "buy" rating. Plus, the analyst issued a $130 price target -- an almost 25% premium to current levels. TTWO shares have pulled back since peaking at $1...Read More
The report called the firm "dubious"The shares of AxoGen, Inc (NASDAQ:AXGN) are down 22% to trade at $21.47, fresh off an annual low of $19.21, after Seligman Investments posted a scathing report on Seeking Alpha. The investment firm -- which is short AXGN -- said the nerve repair specialist has a "dubious profile and prospects," and set a $5.07 price target, an 82% discount to last night's close....Read More
The central bank is widely expected to hike interest rates on WednesdayThe Federal Open Market Committee (FOMC) kicked off its two-day policy-setting meeting today, with the central bank widely expected to announce another rate hike tomorrow afternoon -- despite protests from President Donald Trump and recently dovish Fed comments. While the S&P 500 Index (SPX) tends to struggle the month after Fe...Read More
The SPX fell more than 10% in 50 sessionsThe major stock market indexes are in correction territory -- defined as at least 10% below their record highs -- and the S&P 500 Index (SPX) is no exception. In fact, the broad-market index fell more than 11% in just 50 sessions, marking the first time the index has dropped at least 10% in that short of a span since January 2016. Below is what we might exp...Read More
The chance of recession in the next 12 months rose to 23 percent in the CNBC Fed Survey.Twelve percent of respondents think the Fed, after hiking in December, would next move to reduce the Fed Funds rate and do so by October.Fifty-two percent said they now approve of the president's handling of the economy, down 14 points from the prior survey in which his approval had hit an all-time high.The CNB...Read More
The shares could be poised to break out of recent congestion below $245The shares of medical analytics issue Thermo Fisher Scientific Inc. (NYSE:TMO) have taken a breather since touching a record high of $253.90 in early December. However, the equity could be ready to launch its next leg higher, with TMO shares flashing a historical buy signal.Specifically, Thermo Fisher stock is now within one s...Read More
JNJ and BA are two stocks to watch todayThe Dow Jones Industrial Average (DJI) is bouncing back today, trading well into triple-digit territory. Traders are anticipating tomorrow's Fed decision, while also monitoring a sharp decline in oil prices. At last check, January-dated crude futures were down 5.2% at $47.31 per barrel amid reports of rising crude production in both the U.S. and Russia. Amon...Read More
LAGOS - Nigeria's first gold refinery is expected to more than triple its capacity within five years after operations begin next June, an executive at the company developing it said on Tuesday.Nere Teriba, vice chairman of local firm Kian Smith Trade & Co, said the refinery would initially be able to produce three tonnes per month of gold and one tonne of silver, rising to 10 tonnes a month of gol...Read More
The shares are headed for their best day everThe shares of Marin Software Inc (NASDAQ:MRIN) are up 47.3% to trade at $3.73, after the California-based online advertising company announced a three-year revenue share agreement with Alphabet's (GOOGL) Google. Under the terms of the deal, Google will pay Marin Software based on the revenue generated on its platform from clients using the Google Search...Read More
Global equity markets are getting beaten up, but gold miners have been spared as haven demand swells and bullion's outlook brightens.Newcrest Mining Ltd., Australia's top producer, rallied as much as 2.3 percent on Tuesday, while South Africa's Harmony Gold Mining Co. Ltd. was the biggest mover, rising 3.8 percent. Canada's Barrick Gold Corp. - which is taking over rival Randgold Resources Ltd. -...Read More
John Thornton is a Goldman Sachs alumnus educated at Yale, Harvard and Oxford. Mark Bristow is a South African geologist and big-game hunter.Together, this corporate odd couple has a plan to turn around the lagging fortunes of the world's largest gold-mining company, whose shares are down 67 percent from their high in 2010. Thornton, executive chairman of Barrick Gold Corp., set the partnership in...Read More
The company announced successful trial results for its breast cancer drugShares of Puma Biotechnology Inc (NASDAQ:PBYI) are up 6.9% at $22.90, after the company announced successful results of the Phase III NALA trial for its experimental breast cancer drug, neratinib. Analysts are waxing optimistic on PBYI shares, with Cantor Fitzgerald upping its price target to $55 from $50 -- more than double...Read More
Short sellers have been ramping up their exposure to the stockEnergy stock EOG Resources Inc (NYSE:EOG) has struggled since its mid-October highs near $133.50, down more than 25%. A negative earnings reaction in early November only exacerbated headwinds for the shares, with the Nov. 1 pre-earnings close creating a stiff ceiling in recent weeks. What's more, a recent rejection at the 40-day moving...Read More
Both stocks have been struggling in recent weeksBoeing Co (NYSE:BA) said it's boosting its quarterly dividend by 20%, and hiking its share buyback program by $2 billion to $20 billion. In reaction to the news, BA shares are up 4.2% to trade at $329.53, climbing back above their 320-day moving average, which has served as a magnet in recent weeks.The shares of the aerospace giant are still on track...Read More
There is ample room for a further shift in sentiment toward PMThe shares of Philip Morris International Inc. (NYSE:PM) are down 1.8% to trade at $79.95, after Credit Suisse downgraded the tobacco name to "underpeform" from "neutral," while slashing its price target to $74 from $92. The analyst in coverage says the company's reliance on heated tobacco products leaves it exposed to significant downs...Read More
JAKARTA, Dec 18 - Indonesia's state-owned miner PT Inalum expects to finalise a deal this week to take majority control of the local unit of global mining giant Freeport McMoRan Inc, the company's chief executive told Reuters on Tuesday.The deal will close "hopefully this week", said Budi Gunadi Sadikin, adding that a conclusion looked "highly likely."Inalum was proposing to sell a 10 percent stak...Read More
UNG has cooled off quite a bit from its steep November ramp higherWhile stocks were taking a drubbing during the month of November, natural gas futures were in the midst of a high-volatility move of their own -- albeit in the complete opposite direction. The United States Natural Gas Fund (UNG) wrapped up last month on a gain of 39.8%, which marked its biggest monthly advance in a decade (and whic...Read More
NCR shares have been hit hard in recent yearsNCR Corporation (NYSE:NCR) shares have been stuck in a two-year downtrend, falling from an early 2017 peak near $50 to Monday's close of $22.71. In more recent months, the 80- and 120-day moving averages have capped upside advances, and the stock just yesterday hit a nearly two-year low of $22.58. RBC isn't worried, however. The brokerage firm already h...Read More