It's a big day for biotechs, with Denali Therapeutics (DNLI) debuting on the Nasdaq above its initial public offering price (IPO), and Sage Therapeutics (SAGE) continuing to hit record highs. Amid these sector tailwinds, the iShares Nasdaq Biotechnology ETF (IBB) is up 2.1% to trade at $106.29 -- extending its bounce off a key trendline. Here's a closer look at IBB, and how options traders have be...Read More
It's been a crazy couple of weeks for the stock market, amid concerns about tax reform, tech stocks, and a government shutdown. Meanwhile, next week will bring us the launch of bitcoin futures and a possible Fed rate hike. While Schaeffer's Senior V.P. of Research Todd Salamone suggests traders "continue to use call options to participate in the record-breaking equity rally," below are a couple of...Read More
Shares of Valeant Pharmaceuticals International, Inc. (NYSE:VRX) are soaring today, with Trade-Alert pointing to optimism ahead of the Food and Drug Administration's (FDA) PDUFA action date for Luminesse, Bausch + Lomb's over-the-counter eye redness treatment. Whatever the reason, VRX stock is up 10% at $19.39 -- fresh off an annual high of $19.44 -- and option volume is popping.At last check, 123...Read More
It was a roller-coaster week on Wall Street, with the major market indexes experiencing their fair share of slumps, losing streaks, rebounds, and record highs. Encouragement over the Republican tax plan lifted most stocks early in the week, but another tech stock sell-off caught Wall Street off-guard. However, the tech sector ultimately rebounded, and aided by some upbeat economic and political ne...Read More
Since gapping to a record high of $86.20 in late October, the shares of Microsoft Corporation (NASDAQ:MSFT) have been relatively range-bound. However, in the wake of the recent pullback in tech stocks, MSFT stock could be flashing a big "buy." Below, we'll take a look at the technical signal that's preceded pops for the blue-chip stock in recent history.MSFT stock recently came within one standard...Read More
U.S. stocks are trading higher, with the Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX),and Nasdaq Composite (IXIC) getting a lift from the stronger-than-forecast nonfarm payrolls report for November. The U.S. economy gained 228,000 jobs last month, while the unemployment rate stayed at a low 4.1%. Combined with the passage of a two-week funding bill to stave off a government shutdown,...Read More
Ahead of the company's launch of bitcoin futures on Sunday, Cboe Global Markets Inc (NASDAQ:CBOE) continues to trade near Monday's record high of $127.78, last seen 0.5% higher at $124.82. But even as the cryptocurrency storms to record high after record high, a number of high-profile Wall Street firms are actively opposing bitcoin, such as banks JPMorgan Chase (JPM) and Citigroup (C). Meanwhile,...Read More
Universal Display Corporation (NASDAQ:OLED) is trading 7.3% higher at $179.60, after the company inked a deal with China's BOE Technology to develop and supply organic light-emitting diode (OLED) technology. Analysts like the arrangement, as Deutsche Bank and Susquehanna raised their respective price targets to $190 and $195, and Cowen weighed in by saying it believes 2018 should be another strong...Read More
Firearm stocks are on the move today, after American Outdoor Brands Corp (NASDAQ:AOBC) unveiled a disappointing earnings and revenue forecast -- and the resulting sell-off in AOBC, formerly known as Smith & Wesson, has extended to sector peer Sturm Ruger & Company Inc (NYSE:RGR). Both AOBC and RGR are trading sharply lower this morning, bucking an upside bias for the major equity indexes.Weak Outl...Read More
Bank stocks are in focus today, after global bank regulators gave the sector a post-recession win in the final Basel III agreement, which found "no significant increase" of capital requirements for financial institutions was needed. Additionally, this morning's strong U.S. jobs data helps strengthen the case for a possible rate hike at next week's Fed meeting. Among the names to watch today are Ba...Read More
Shares of Micron Technology, Inc. (NASDAQ:MU) are up 2.2% in electronic trading, after Susquehanna raised its price target on the chip stock to $60 from $54 -- representing expected upside of 39% to last night's close at $43.20, and sitting in territory not charted since September 2000. The brokerage firm also raised its fiscal 2018 profit estimate ahead of the company's fiscal first-quarter earni...Read More
It's shaping up to be another big day on Wall Street, with stock futures broadly trading above fair value. Investors this morning are reacting to the nonfarm payrolls report for November, which revealed an increase of 228,000 jobs, topping estimates of 200,000. However, wage growth for the period disappointed. Traders should stay focused on the economic schedule, too, since the University of Michi...Read More
LONDON, 8 December 2017 - Finance professionals' magazine FT Adviser today reports BullionVault data and analysis alongside comment on crypto-currency Bitcoin from leading UK investment managers.Quoting ?2.3bn manager Richard Buxton at Old Mutual and Neil Woodford of the ?8.1bn Woodford Equity Income fund, "Adrian Ash, director of research at BullionVault, said demand for gold is at a multi-year...Read More
LONDON, 8 December 2017 - Data and analysis from BullionVault are quoted today by Japan's leading financial newspaper, the Nikkei.Introducing the London-based service as a major online gold investment company, today's edition of the Nikkei reports that the number of new first-time gold investors fell in November to its lowest monthly level since December 2015.Over the last 12 months, the number of...Read More
The Dow Jones Industrial Average (DJIA) finished higher today, climbing more than 120 points at its session peak, before settling with a more modest gain. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) also closed in the black, thanks to a continued rebound from tech stocks, snapping the SPX's longest losing streak in nine months. Markets continue to eye Washington, D.C., for any clues abo...Read More
U.S. stocks are trading higher, thanks to outperforming tech stocks. Among the names making big moves are burger chain Shake Shack Inc (NYSE:SHAK), semiconductor company Lam Research Corporation (NASDAQ:LRCX), and retail giant Sears Holdings Corp (NASDAQ:SHLD). Here's a quick look at what's moving shares of SHAK, LRCX, and SHLD.SHAK Shorts Feeling the Squeeze Shares of Shake Shack are soaring a...Read More
While tech stocks are leading the charge higher today, last week things went a bit topsy-turvy, as one of the best sectors of 2017 took a spill. Not only did it send up an alarm that sounded before the dot-com bubble burst, but Nasdaq-100 Index (NDX) buying climaxes spiked to the highest in nearly six months. Below, we'll take a look at tech-sector performance after these signals, and how stocks c...Read More
Shares of Overstock.com Inc (NASDAQ:OSTK) are soaring today, as bitcoin surges past the $16,000 level. This isn't the first time the retail stock has gotten a lift from the cryptocurrency, with OSTK gapping higher throughout September and October on news the company's subsidiary tZERO, would start a digital coin exchange. The retailer also accepts bitcoin payments. At last check, the equity was up...Read More
Bank stocks are poised for a December to remember, thanks to lawmakers' progress on a business-friendly Republican tax plan and an expected Fed rate hike next week. Within the sector, Citigroup Inc (NYSE:C) looks particularly compelling, as the shares embark on their latest rally from a historically significant moving average -- and test their footing at a major "round-number" level. Citigroup st...Read More
U.S. stocks are trading higher this afternoon, with the Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) erasing early losses, and the Nasdaq Composite (IXIC) outperforming, thanks to rising tech stocks. Along with bitcoin's surge to record highs, traders are keeping an eye on Washington, D.C., with President Trump expected to meet with congressional leaders from both parties to preve...Read More