Energy and e-commerce stocks took a hit, while Intel fell after a CEO exitThe Dow fell nearly 200 points today for its eighth straight loss -- matching its longest losing streak since March 2017 -- amid lingering global trade war concerns. Intel (INTC) was among the biggest blue-chip losers, after the surprise departure of CEO Brian Krzanich. Energy stocks also took a hit, as oil prices fell amid...Read More
Plus, the drug stock soaring on a 'breakthrough therapy' designationStocks are continuing their downward spiral this afternoon, with focus shifting to today'sSupreme Court ruling that says online sales can now be taxed by states. Three individual stocks making noteworthy moves are tax software concern and Wall Street freshman Avalara Inc (NYSE:AVLR), e-tailer Overstock.com Inc (NASDAQ:OSTK), an...Read More
The shares recently pulled back after a Muddy Waters swipeTAL Education Group (NYSE:TAL) has been climbing up the charts over the long term -- with the stock nearly doubling in value on a year-over-year basis. More recently, shares of the Chinese tutoring firm pulled back sharply following accusations of fraud by Muddy Waters. TAL stock is now trading near a trendline that's marked a prime entry p...Read More
The blue chip could extend its quest for record highs, if past is prologueThe shares of Visa Inc (NYSE:V) are lower today, likely due to broad-market headwinds. However, the credit card concern notched a new record high just yesterday -- and the stock just flashed a bullish options signal, to boot. What's more, Visa stock has historically been the best blue chip to own after a lengthy Dow losing s...Read More
The Supreme Court ruled that states can collect taxes on online salesThe shares of eBay Inc (NASDAQ:EBAY) are in the red this afternoon, after the Supreme Court of the United States (SCOTUS) ruled that states cancollect sales taxes from online retailers without a "physical presence" in the state. As EBAY stock drops with other e-commerce concerns, options traders are betting on even more downside...Read More
DBX options were attractively priced at the time of the recommendationSubscribers to Schaeffer's Weekly Volatility Trader almost quadrupled their money with the Dropbox Inc (NASDAQ:DBX) June 30-strike straddle we recently recommended. We're going to take a look back to see why we expected heightened volatility on the software stock, and how the options trade unfolded.A straddle is an ideal opt...Read More
Soon-to-be Dow member Walgreens Boots Alliance will also reportAs a busy and drama-fueled month winds down next week, investors will turn their eye stateside toward several big economic reports. Next week will feature a variety of inflation data and Fed speakers, but the big mover will be on Thursday, when the revised first-quarter gross domestic product (GDP) reading is unveiled. In addition, som...Read More
BlackBerry is scheduled to report earnings before the open tomorrowBlackBerry Ltd (NYSE:BB) is slated to report first-quarter earnings before the open tomorrow. BlackBerry stock is down 1.4% at $11.74 at last check, set for a third straight close below the 20-day moving average. The shares have struggled to gain momentum since their roughly five-year high from January, clinging to a slim year-to-...Read More
The Dow could extend its losing streak to eight daysStocks are again falling today, and the Dow Jones Industrial Average (DJI) is in danger of an eighth straight decline. Trade war fears are weighing on names like Boeing (BA) and Caterpillar (CAT), though Intel (INTC) is the biggest blue-chip loser following the surprise departure of CEO Brian Krzanich. A broader pullback in tech shares is also dr...Read More
CloseGain/LossGold $1267.40-$2.10Silver$16.31+$0.01XAU80.89-0.43%HUI174.60-0.47%GDM609.68-0.32%JSE Gold1068.94-6.73USD94.82-0.27Euro116.12+0.29Yen91.12+0.39Oil$65.54-$0.1710-Year2.895%-0.041T-Bond143.9375+0.4375Dow2749.76-0.80%Nasdaq7712.95-0.88%S&P24461.70-0.63% The Metals: Gold dropped $8 to $1261.50 by a little after 8AM EST before it rallied back higher throughout mos...Read More
Russia adds another 600,000 oz to it's gold reserves in MayHoldings of U.S. government debt slashed in half to $48.7 billion in April'Keeping money safe' from U.S. and Trump - Danske BankTrump increasing the national debt by another 6% to $21.1 trillion in less than 18 monthsAsian nations accumulating gold as shield against dollar devaluation and trade warsRussia dumps Treasuries for gold and in...Read More
Speculators had targeted weekly puts in the lead-up to today's earnings reportWeekly options traders were active on Kroger Co (NYSE:KR) ahead of the grocery name's earnings report, released earlier this morning. Puts were especially in favor over the last two weeks, and today's post-earnings swing higher could be catching some of these bears off guard.Taking a quick step back, Kroger popped up on...Read More
Pivotal Research Group and Raymond James hiked their price targets this morningStreaming concern Netflix, Inc. (NASDAQ:NFLX) is higher in early trading after receiving its second $500 price target this week. Pivotal Research Group raised its price target to $500 from $420 -- matching GBH Insights' target from earlier this week -- citing expectations for a strong second quarter, while adding that...Read More
SQ shares touched a record high after another price-target boostSquare Inc (NYSE:SQ) stock is up 2.3% to trade at $69.16 this morning, and just notched a record high of $69.40, after Nomura boosted its price target to $82 from $65. The lofty price target -- representing a premium of more than 20% to the stock's close yesterday -- comes as the analyst waxed optimistic on the growth potential of t...Read More
Japan has requested dispute consultations at the World Trade Organization (WTO) regarding South Korean anti-dumping duties levied on stainless steel bars from Japan, the WTO said on June 21."Japan claims a third sunset review by [the South] Korean authorities, which led to a decision to maintain the duties [on stainless steel bar imports from Japan] was not carried out in accordance with the WTO's...Read More
Upbeat drug data and analyst attention is fueling pre-market gains for MESO stockCASI Pharmaceuticals Inc (NASDAQ:CASI) said it's teamed up with China-based Yiling Wanzhou International Pharmaceutical Co. to manufacture entecavir and cilostazol, which are used to treat hepatitis B and blood flow, respectively. In reaction, CASI stock is 38% in electronic trading, set to open near its mid-May highs...Read More
The sector has been strong in 2018An analyst at J.P. Morgan Securities just released a note waxing optimistic on the medical technology sector, citing a strong start to the year, earnings growth potential, and M&A opportunities. Two stocks mentioned specifically as top large-cap picks for the second half of the year were Becton Dickinson and Co (NYSE:BDX) and Abbott Laboratories (NYSE:ABT). As suc...Read More
Crude futures are falling as OPEC looks set to boost production levelsFutures on the Dow Jones Industrial Average (DJI) are trading below fair value, as trade tensions simmer and the focus shifts to oil against the backdrop of a highly anticipated Organization of the Petroleum Exporting Countries (OPEC) meeting. Cartel heavyweight Saudi Arabia is pushing for a substantial production increase, with...Read More
The United States has agreed to exemptions from Section 232 tariffs for some steel products from five countries.US Secretary of Commerce Wilbur Ross said the Bureau of Industry and Security had begun production exclusions on steel imports based on a "balanced approach that accounts for the needs of downstream industries while also recognizing the threatened impairment of national security caused b...Read More