This morning, biotech stock Valeant Pharmaceuticals International, Inc. (NYSE:VRX) was downgraded to "underweight" from "neutral" at J.P. Morgan Securities, although the brokerage firm issued a price-target hike to $12 from $10. Analysts cited Valeant's patent erosions and lofty earnings estimates over the next two fiscal years, as well as skepticism for specialty pharma in 2018 as reasons for the...Read More
Teva Pharmaceutical Industries Ltd (NYSE:TEVA) is cleaning house following a disastrous 2017. The Israel-based generic drugmaker said it will cut its global workforce by 25% -- resulting in roughly 14,000 lost jobs -- and suspend its dividend payment on ordinary shares in an effort to cut costs by roughly $3 billion by the end of 2019. In reaction, TEVA stock is up 19.3% in electronic trading, set...Read More
U.S. stocks are ready to rally this morning, with futures signaling asurge for the Dow Jones Industrial Average (DJIA) -- which would mark its fifth straight record close. The S&P 500 Index (SPX) and Nasdaq-100 (NDX) are pointing to a big open, too, and there's a ton of economic data to digest today. Specifically, weekly jobless claims came in lower than expected this past week, with 225,000 peopl...Read More
LONDON, 14 December 2017 - Leading Indian finance channel CNBC-TV18 today interviewed BullionVault director of research Adrian Ash.Speaking with CNBC-TV18's commodities specialist Manisha Gupta by phone from London, "If you look at the last 3 years now," says Adrian, "we had a Fed rate hike in December, starting with the long-delayed hike of 2015, and that marked a low in the gold price."The same...Read More
LONDON, 14 December 2017 - Market-development organization the World Gold Council today publishes an exclusive article from BullionVault looking at the phenomenal jump in German gold investing over the last five years.Part of a German focus in the WGC's latest quarterly Gold Investor magazine, the analysis from BullionVault's German markets manager Steffen Grosshauser compares the behaviour of Ger...Read More
The Dow Jones Industrial Average (DJIA) secured a fourth straight record close, after the Fed officially raised interest rates by a quarter point and lifted its economic outlook for 2018. The widely expected move also came with a forecast for three more rate hikes in 2018 -- unchanged from the central bank's previous statement. Outgoing Fed Chair Janet Yellen cited tax reform optimism as a driver...Read More
Although earnings season has largely concluded, a few key companies are still making their way to the stage -- with one in particular being tech and software powerhouse Adobe Systems Incorporated (NASDAQ:ADBE). ADBE is expected to report fiscal fourth-quarter earnings after the close this Thursday, Dec. 14, and options traders are pricing in a bigger-than-usual post-event move for the stock.At la...Read More
The Dow is pushing higher once again, touching another record high. Among the names making big moves are Dow stock Caterpillar Inc. (NYSE:CAT), photonic products producer Lumentum Holdings Inc (NASDAQ:LITE), and biotech Intercept Pharmaceuticals Inc (NASDAQ:ICPT). Here's a quick look at what's moving shares of CAT, LITE, and ICPT.CAT Stock Notches Record HighCaterpillar stock is up 3.6% at $148.5...Read More
The Federal Open Market Committee (FOMC) is expected to announce a rate hike when it concludes its policy-setting meeting this afternoon, which would mark its fifth since 2015, and its third this year. While these two names are some of the best stocks to own after the Fed raises interest rates, oil issues Newfield Exploration Co. (NYSE:NFX) and Pioneer Natural Resources (NYSE:PXD) are two of the w...Read More
Some say the rabid rise of bitcoin -- and the newly available bitcoin futures -- has dulled demand for gold. However, gold isn't alone in its recent struggles, with the iShares Silver Trust (SLV) down nearly 8% in the past month, and large speculators abandoning silver at a record-high pace. Below, we'll take a look at the huge silver liquidations -- and what traders might expect for SLV after tod...Read More
The Federal Open Market Committee (FOMC) kicked off its highly anticipated December meeting yesterday, and the central bank is widely expected to announce a rate hike later this afternoon. Yesterday, we discussed some blue-chip stocks to avoid. Today, we decided to take a look at some of the beststocks to buy when the Fed hikes interest rates, with McDonald's Corporation (NYSE:MCD) and 3M Co (...Read More
U.S. stocks are higher at midday, with the Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) soaring to fresh record highs. The Nasdaq Composite (IXIC) isn't far behind, with tech stocks in rally mode. Traders are cheering reports that the House and Senate reached a tentative deal on tax reform, and continue to digest Alabama Democrat Doug Jones'Senate seat win. Wall Street is also anti...Read More
Options volume has exploded on Finisar Corporation (NASDAQ:FNSR), with more than 45,000 contracts traded. This is 15 times what's typically seen at this point in the day, and a new 12-month high. At last check, FNSR stock was up 29.2% to trade at $24.93 on news Apple (AAPL) has invested $390 million into the fiber optics name -- which makes chips for the iPhone X, including those for facial recogn...Read More
When the Federal Open Market Committee (FOMC) announces its latest policy ruling this Wednesday afternoon, Wall Street is pricing in a roughly 100% chance of a rate hike (per CME Group's FedWatch Tool). And likewise, bank stock bulls appear to have priced in plenty of enthusiasm over this widely anticipated tightening move, judging by recent option activity on the Financial Select Sector SPDR Fund...Read More
Bank stocks have rallied in recent weeks, as traders expect tax reform and rate hikes from the Fed to boost the sector. With the central bank ready to announce its next policy decision this afternoon, brokerage firm KBW this morning revised its outlook on a number of financial names, including Dow components JPMorgan Chase & Co. (NYSE:JPM) and Goldman Sachs Group Inc (NYSE:GS). Below we'll take a...Read More
With the holidays right around the corner and retail sales due out tomorrow morning, retail stocks are ready to take center stage once again. This morning, retailers TJX Companies Inc (NYSE:TJX) and Ralph Lauren Corp (NYSE:RL) are recipients of distinctly different analyst attention this morning. Below, we will take a closer look at these brokerage notes, and see how the shares of TJX and RL are...Read More
Athletic apparel stock Nike Inc (NYSE:NKE) is moving higher this morning, after Susquehanna upped its price target to $57 from $50. The brokerage firm also backed its lukewarm "neutral" rating on NKE shares, which is the majority opinion among analysts following the blue chip. Currently, the sports giant carries 15 "holds," compared to 11 "buy" or better ratings and just one "sell."Separately, U.K...Read More
Shares of Western Digital Corp (NASDAQ:WDC) are up 4% in electronic trading, after the chipmaker last night said it is dropping domestic arbitration claims against Toshiba over the sale of the latter's chip business to a group led by Bain Capital. Toshiba is abandoning its lawsuit against Western Digital, ending a months-long dispute between the two tech names -- which could have WDC stock recoupi...Read More
Dow Jones Industrial Average (DJIA) futures are trading above fair value this morning, as investors await this afternoon's Fed decision. With the central bank expected to raise interest rates, outgoing Fed Chair Janet Yellen will hold a press conference after the announcement, and is expected to touch on the economy and tax reform. Also in focus is the Senate election results out of Alabama, where...Read More
The comments above & below is an edited and abridged synopsis of an article by Phoenix CapitalAfter the financial crisis of 2008, central banks began cornering the sovereign bond market via zero or negative interest rates and QE programs. They wanted to reflate the financial system by pushing the risk-free rate to extraordinary lows; they wanted capital to flee cash and move into risk assets, ther...Read More