Gregory Mannarino started his career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. After realizing that working on Wall Street was not like the movies, he moved on to get a medical degree and practiced medicine as a Physician Assistant. He also served in the United States Naval Reserve Medical Service Corps, having attained the rank of Lieute...Read More

Wholesale American beef prices jumped 6% to a record high of $330.82 per 100 pounds, a 62% increase from the lows in February, according to Bloomberg, citing new USDA data.Continue...Read More

"Given the risk of a prolonged period of economic uncertainty, weaker commodity prices, higher volatility and uncertain demand outlook, the Board believes that maintaining the current level of shareholder distributions is not prudent."Continue...Read More

The latest forecasts from Fastmarkets' team of analysts is ready to view.Oversupply to persist in North America as demand slumpsPrices for welded oil country tubular goods (OCTG) and linepipe weakened further in April nearing historical lows, and there may be room for further pipe price retreat through the second quarter. Supply of ERW OCTG and line pipe is expected to continue to outpace demand f...Read More

Bob Moriarty of 321gold discusses gold, financial collapse and consequences of quarantining. I've had a few comments lately on the pieces I have been writing about where we stand politically and with the Corona Virus. One complained and said that he loves my comments on markets but I was getting too political.Of course I am. I thought we had two totally different crises on our hands today. Most p...Read More

Silvercorp Metals reported that it entered into an agreement to acquire 100% of the shares of Guyana Goldfields in a transaction valued at CA$105 million. In a news release, Silvercorp Metals Inc. (SVM:TSX; SVM:NYSE) and Guyana Goldfields Inc. (GUY:TSX) announced that the two companies have entered into a definitive agreement whereby Silvercorp Metals will acquire all of the issued and outstandin...Read More

SKRR Exploration reported that it entered into an agreement to acquire the Irving Lake property in Saskatchewan that covers 10 existing mineral claims. In a news release, SKRR Exploration Inc. (SKRR:TSX.V) announced that it has signed a "non-arm's length" option agreement to acquire 100% of the Irving Lake property from Edge Geological Consulting Inc. The company advised that the Lake property, l...Read More

Latin American steel group Ternium expects the Mexican automotive industry to "gradually" restart operations in May, chief executive officer M??ximo Vedoya said on Wednesday April 29.Automakers in Mexico have stopped operations since late March because of the spread of Covid-19. "The automotive industry's value chain in US and Mexico is highly integrated and it demands synchronized production in b...Read More

A summary of US-based electric vehicle (EV) manufacturer Tesla's financial results for the first quarter of 2020.In brief Total revenues up by 32% year-on-year, which represents the best-ever first quarter for the company, in terms of both production and deliveries, despite a seasonally slower first quarter and the effect of lower EV deliveries by the end of March due to the global spread of Covid...Read More

June-dated crude rose 25% for the dayThe Dow extended its midday losses, closing down over 280 points, as dismal economic data weighed. The 3.8 million rise in jobless claims alongside a drop in consumer spending landed all three major indexes in the red, despite a rise in tech following a strong earnings session. Renewed unease over a potential trade-war also settled in after The Washington Post...Read More

Call trading on MCD has ramped up todayThe shares of McDonald's Corp (NYSE:MCD) are down 1.3% to trade at $185.48 today, after the fast food giant reported adjusted first-quarter earnings of $1.47 per share, lower than than Wall Street's estimates of $1.57 per share. This is the fast food giant's first quarterly earnings miss in two years. McDonald's also reported a dip in global sales amid lim...Read More

Microsoft reported an earnings and revenue beatShares of blue-chip Microsoft Corporation (NASDAQ:MSFT) are up 0.9% to trade at $179.09 this morning, after the company reported an upbeat fiscal third-quarter report. The tech giant announced profits of $1.40 per share and revenue of $35.02 billion -- both topping Wall Street's estimates. Following the news, no fewer than 10 analysts have raised the...Read More

CMCSA reported lower-than-anticipated revenue, though its earnings exceeded expectationsComcast Corporation (NASDAQ: CMCSA) announced first-quarter profits of 71 cents per share, higher than Wall Street's estimated 68 cents per share. However, the reported revenue of $26.66 billion came in lower than analysts' estimated $26.75 billion. The company also warned that the coronavirus could weigh on f...Read More

Brazil's Vale expects the price premium for high-grade iron ore fines to decrease in the second quarter compared with those in the first, with production in China resuming.Brazilian 65% Fe iron ore has been fetching around $20 per tonne more than reference prices for 62% Fe material. This difference is mainly due to supply issues, which reduced inventories in China, the mining major's executive di...Read More

B. Riley FBR lifted its price target on LULU to $257 from $210The stretch pants stay-at-home uniform adopted by many during self-isolation has been a boon for apparel name Lululemon Athletica Inc (NASDAQ:LULU), at least according to Susan Anderson at B. Riley FBR. The analyst raised its shares to $257 from $210 -- a roughly 13% premium to current levels -- citing an increased demand for athleisure...Read More

Tesla's first-quarter earnings and revenue report beat out analysts' estimatesThe shares of Tesla Inc (NASDAQ:TSLA) are up 7.5% to trade at a two-month high of $861.24, after the electric vehicle manufacturer reported first-quarter earnings of $1.24 per share and revenue of $5.99 billion, both of which beat out Wall Street's estimates. Tesla also said its Model Y helped contribute to profits, ma...Read More

All three benchmarks are heading toward big monthly wins, thoughThe Dow Jones Industrial Average (DJI) is off by triple-digits, last seen down over 250 points as economic data overshadows a busy day of earnings reports. Jobless claims for last week came in at 3.84 million, toppling the 3.5 million estimate and bringing the coronavirus pandemic's toll to 30 million lost jobs. The S&P 500 Index...Read More

Tapestry's fiscal third-quarter results gave investors yet another taste of how hard the retail sector has fallen Tapestry Inc (NYSE:TPR) is down 9.9% at $15.34, after the Coach parent's fiscal third-quarter report gave investors another look at the devastating impact the coronavirus pandemic has had on the retail sector. The company posted losses per share of 27 cents, missing analyst estimates a...Read More

Jobless claims surpassed expectations for the seventh-straight weekDow Jones Industrial Average (DJI) futures are eyeing a modest move below fair value this morning. The latest batch of weekly jobless claims is weighing on Wall Street, with the 3.8 million unemployment filings toppling the 3.5 million estimate. The ugly numbers --a seventh straight week surpassing analyst estimates -- are overshad...Read More

RambusBefore we look at tonight's Precious Metals charts I would like to make a comment on the US stock markets. I will take some flack over some of the comments I'm going to make but that's fine as it won't be the first time nor the last.Let me start by saying, "The only rule when it comes to trading the stock markets is, "There Are No Rules." The other important rule that I live by is that, "t...Read More