The drug stock is ripe for a short squeeze, tooIt's been a hot start to December for Immunomedics, Inc. (NASDAQ:IMMU). The pharmaceutical stock is up 11.5% already this month, and earlier today nabbed a fresh annual high of $21.49. Heading into the new year, IMMU shows no signs of slowing down, especially after flashing a reliable "buy" signal.More specifically, the stock's new high today comes am...Read More
Options bulls have blasted CMCSA stock in recent weeksComcast Corporation (NASDAQ:CMCSA) stock is trading down 2% at $43.04, after the media giant said it plans on committing $2 billion to content and marketing spending over the next two years for its new Peacock streaming service. The Netflix (NFLX) rival's streaming service will launch in April, with more details expected in mid-January.This dro...Read More
INFO has added almost 54% in 2019Information and analysis services stock IHS Markit Ltd (NYSE:INFO) has been an outperformer on the charts. Long-term support from the 50-day moving average has the shares up 53.7% year-to-date, and fresh of their 11th straight monthly gain. With this steady support in place, now is a prime time to buy calls. Digging deeper, short interest has surged 111% from its M...Read More
Traders are shrugging off this morning's trade "update"It's another day of weak price action for stocks on Wall Street, with traders mostly holding tight ahead of tomorrow's Fed decision. Ahead of the opening bell, it looked as though apparent headway in U.S.-China trade relations could lift stocks, but the risk-off sentiment has remained. The Dow Jones Industrial Average (DJI) and S&P 500 Index (...Read More
Needham is the latest analyst to issue a bear note on NFLXStreaming giant Netflix Inc (NASDAQ:NFLX) is struggling this morning, 2% lower at $296.43, after becoming the subject of one of Needham's latest bear notes. Analyst Laura Martin downgraded the equity to "underperform" from "hold," saying increased competition from rival streaming services could force a loss of around 4 million premium U.S...Read More
Tech has put in a strong performance in 2019The technical backdrop for U.S. stocks has been positive for most of 2019. The Nasdaq Composite (IXIC) has outpaced the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) on a monthly basis for a majority of the year, and is currently up 30.5% since its Dec. 31 close, compared to a 20% gain for the Dow, and a 25.5% gain for the S&P over that same...Read More
WOOD, one of the Ishares ETF symbols related to the Real Estate and Construction sectors may become the next hottest instrument for skilled technical traders. Over the past three years, Wood has rallied over 110% between a $40 to $84 range and the trading volume of WOOD has been relatively consistent near an average of about 140k shares per week. Let’s dig into the opportunities...Read More
SFIX is heading trading at its highest level since late JulyA big earnings winner this morning is Stitch Fix Inc (NASDAQ:SFIX), after the e-tailer broke even for its fiscal first quarter, toppling the estimated loss of 6 cents per share. Revenue and active clients also topped expectations, prompting six price-target hikes already, the highest coming from SunTrust Robinson to $38 from $36. J.P. Mo...Read More
Lululemon Athletica's COO just accepted a position as CEO of travel company Away It was announced yesterday evening that the chief operating officer (COO) of athleisure company Lululemon Athletica Inc (NASDAQ:LULU), Stuart Haselden, will be leaving the firm to join privately owned luggage maker Away as its CEO, effective Jan. 10. The stock is up 0.7% at $232.50, at last check.This announcement com...Read More
"Smoot and Hawley ginned up The Tariff Act of 1930 to get America back to work after the Stock Market Crash of '29. Instead, it destroyed trade so effectively that by 1932, American exports to Europe were just a third of what they had been in 1929. World trade fell two-thirds as other nations retaliated. Jobs evaporated." Elaine Chao, American politician, U.S. Secretary of Transportation 2017-,...Read More
By: Ira EpsteinGold is near a seasonal bump to the upside. $1,459.80 would be a negative turn in short-term picture. Downside bias but swingline just below..Read More
Traders just booked profit in short positions in gold and silver. They are sitting on cash at the moment. News will be the key. Trade deal with China is not signed yet. I will not rule out further escalation of trade war with China as US economic numbers have beaten Chinese in November. Trump is at an advantage (with China) on the trade war in the short term. Trade war will be pain for every nat...Read More
MCD, DPZ, and SBUX all received "outperform" designationsBrokerage firm RBC last night began coverage on a number of restaurant stocks, including taking bullish outlooks on big names McDonald's Corp (NYSE:MCD), Domino's Pizza, Inc. (NYSE:DPZ), and Starbucks Corporation (NASDAQ:SBUX). Let's take a quick look at the details around the stocks, and how they're trading this morning.For blue chip MCD, R...Read More
Major Chinese steelmakers' daily crude steel output dropped in late November, according to data released by the China Iron & Steel Association (Cisa) on Tuesday December 10.Daily crude steel output November 21-30:...Read More
The Fed's final meeting of 2019 will kick off later todayAfter markets snapped a three-day win streak yesterday, stock futures are reacting to a slew of trade-related headlines this morning. Dow Jones Industrial Average (DJI) futures were initially off triple-digits after the South China Morning Post suggested the chances of a U.S.-China trade deal this week are slim. However, futures quickly t...Read More
Sellers in the United States' ferrous scrap market will likely enjoy a third consecutive price increase in January, with domestic steel mills continuing to strike post-market deals above December levels in order to secure enough material to cover their programs."Fundamentally, business isn't really that much better but the mills beat the prices down so hard that scrap just dried up. They basically...Read More
Hot-rolled coil prices in the United States have continued to bounce around the $28-per-hundredweight ($560-per-short-ton) level in a quiet pre-holiday spot market.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $27.96 per cwt ($559.20 per ton) on Tuesday December 10, down by 0.6% from $28.14 per cwt on December 9 but...Read More
Gold closed down as much as 1.21 percent Friday on a blowout jobs report that seemed to alleviate investor fears of an impending economic slowdown. The U.S. added as many as 266,000 jobs in November, beating expectations of 180,000, while the unemployment rate ticked down to a 50-year low of 3.5 percent.The yellow metal remains on sound footing, though, and over the next 12 to 24 months, I see i...Read More
"Smoot and Hawley ginned up The Tariff Act of 1930 to get America back to work after the Stock Market Crash of '29. Instead, it destroyed trade so effectively that by 1932, American exports to Europe were just a third of what they had been in 1929. World trade fell two-thirds as other nations retaliated. Jobs evaporated." Elaine Chao, American politician, U.S. Secretary of Transportation 2017-,...Read More
By: Ira EpsteinGold is near a seasonal bump to the upside. $1,459.80 would be a negative turn in short-term picture. Downside bias but swingline just below..Read More