Downgrades could start rolling in for the biotechsThe shares of drugmakers Incyte Corporation (NASDAQ:INCY) and Epizyme Inc (NASDAQ:EPZM) are getting crushed this morning, as the stocks react toFood and Drug Administration (FDA) buzz. What's more, analysts are cutting their price targets on INCY and EPZM stocks -- both of which could be vulnerable to additional bearish brokerage attention. INCY St...Read More
Earnings at Russia's largest steelmaker, Novolipetsk Steel (NLMK), soared by 31% year-on-year in the first quarter of 2018 on favorable pricing conditions and higher export volumes.NLMK's earnings before interest, taxes, depreciation and amortization (Ebitda) for the three months totaled $812 million, against $618 million in the corresponding period last year, according to its latest financial sta...Read More
Even with its millions of subscribers and billions in revenue, Netflix is still a junk-rated issuer whose operations continue to churn through cash.Continue...Read More
Cost of production and future supply problems place a floor on the price of silver, and this contrarian indicator may be the the best news in six years...Eric Dubin and Jason Burack on Welcome to Dystopia Episode #41Jason Burack of Wall St for Main St and independent financial journalist Eric Dubin are back for Episode #41 of Welcome to Dystopia.In today's episode, Jason and Eric discuss the recen...Read More
Peter KrauthThe price of silver had a volatile week, climbing all the way to $17.31 on Thursday (April 19), before settling back down below $17 yesterday (Monday).Because of that volatility, I'm going to show you today exactly where I see the price of silver heading in both the short term and the long term.But first, we need to look at exactly why silver prices reversed course last week.By all acc...Read More
HD stock recently pulled back to a supportive trendlineHome improvement stocks Home Depot Inc (NYSE:HD) and Lowe's Companies, Inc. (NYSE:LOW) are both trading higher this morning, after Wells Fargo initiated coverage with an "outperform" rating, and set its price targets on the retail stocks to $205 and $100, respectively. The brokerage firm believes broad macroeconomic factors will be a boon...Read More
Turkish domestic prices for ferrous scrap from shipbreaking went up slightly during the week that ended on April 23, while domestic auto bundle scrap prices were largely stable, sources said on Tuesday April 24.Metal Bulletin's weekly price assessment for melting scrap from shipbreaking in the Turkish domestic market was $348-355 per tonne delivered, up from last week's $341-352...Read More
"Primary dealers serve as trading counterparties of the New York Fed in its implementation of monetary policy. This role includes the obligations to: (i)Continue...Read More
By Amrith Ramkumar Freeport-McMoRan Inc.'s shares had their worst day in two years Tuesday after the company said that its troubles mining copper in Indonesia were dragging on. The shares tumbled $2.73, or 15%, to $16.08, their steepest slide since January 2016, while copper prices rose. Freeport was also the worst performer in the S&P 500. Moves in copper tend to swing the shares of Freeport a...Read More
The stock could not take advantage of a short squeeze in 2017Since early August, shares of satellite TV provider Dish Network Corp (NASDAQ:DISH) have experienced a sharp downtrend. The stock is already down roughly 22% in 2018, and historical data suggests the recent encounter with the 40-day moving average could be a bearish signal, too. While this technical outlook alone could warrant the attent...Read More
ALMATY (Reuters) - London-listed Chaarat Gold Holdings (CGH) (CGH.L) offered on Tuesday to buy Kyrgyzstan’s largest gold mine, Kumtor, from Canada’s Centerra Gold (CG.TO) for an undisclosed cash sum, in a deal that would also involve Kyrgyz state firm Kyrgyzaltyn.Centerra and Kyrgyzstan have had a series of disputes over sharing profits from Kumtor, and Chaarat said it was offering the...Read More
On the 20th anniversary of the breach of the tailings pond at the Los Frailes mine in Spain, environmental organizations held a press conference to alert the public about the possibility of a similar accident taking place.Greenpeace, WWF, SEO/BirdLife, Ecologists in Action, and Friends of the Earth accused the Andaluc?-a council of relaxing administrative and legal requirements to ease the way for...Read More
Seaborne iron ore prices fell on Tuesday April 24, in line with a decline in the paper market.Metal Bulletin 62% Fe Iron Ore Index: $67.26 per tonne cfr Qingdao, down by $0.41 per tonneMetal Bulletin 58% Fe Premium Index: $56.08 per tonne cfr Qingdao, up by $0.10 per tonneMetal Bulletin 65% Fe Iron Ore Index: $85.30 per tonne cfr Qingdao, down by $0.30 per tonneMetal Bulletin 62% Fe China Port Pri...Read More
Prices of houses and condos across the US surged 6.3% from a year earlier (not seasonally-adjusted), according to the S&P CoreLogic Case-Shiller National Continue...Read More
By Amrith Ramkumar Freeport-McMoRan Inc.'s shares had their worst day in two years Tuesday after the company said that its troubles mining copper in Indonesia were dragging on. The shares tumbled 16%, their steepest slide since January 2016, while copper prices rose. Freeport was also the worst performer in the S&P 500. Moves in copper tend to swing the shares of Freeport and other miners. But...Read More
GRUB premium buyers have been consistently rewarded over the past 12 monthsGrubHub Inc (NYSE:GRUB) stock is trading higher, after D.A. Davidson raised its price target to $100 from $80. This comes just after the Sohn Conference kick-off, where Li Ran from Half Sky Capital said that GrubHub "is the leading online food delivery platform in the U.S.," and waxed optimistic on the firm's North American...Read More
April 24 (Reuters) - Canada's Teck Resources Ltd , the world's second-biggest exporter of steelmaking coal, reported on Tuesday a 15 percent increase in first-quarter adjusted profit on increased sales volumes.Teck, which also mines copper, zinc and gold, said adjusted profit attributable to shareholders rose to C$753 million ($586.4 million) or C$1.31 per share in the quarter ended March 31, comp...Read More
Anglo American is anticipating a reduction of about $300-400 million in earnings for 2018 due to an outage at its Minas-Rio iron ore operations in Brazil, where it does not expect to resume material production for the remainder of the year."The current expectation is that the operations will begin to ramp up in the fourth quarter of 2018," the miner said on Tuesday April 24.Output at Minas-Rio dro...Read More
Russia purchased 300,000 ounces of gold in March and now has around 2,000t in gold reservesContinue...Read More
(Adds SS&C Technologies, Fortis Healthcare)April 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2010 GMT on Tuesday:** Canadian telecommunications gear maker Mitel Networks Corp MITL.O MNW.TO is selling itself to an investor group led by Searchlight Capital Partners for about $2 billion, the company said. Software company Trimble Inc TRMB.O said on Mond...Read More