The security has pulled back since touching a record peak on Oct. 1Shares of Abbott Laboratories (NYSE:ABT) are taking a hit in early trading, last seen down 1.7% at $69.74, following the company's third-quarter earnings report. Per-share earnings were in line with estimates, but the healthcare concern cut the top end of its adjusted full-yearforecast. From a longer-term perspective, ABT stock ha...Read More
Oct 17 - Gold and silver miner Hochschild Mining Plc on Wednesday raised its annual output target and forecast lower mining costs, as its Inmaculada mine in Peru produced higher grade ore.The company, which operates three mines in southern Peru and one in southern Argentina, raised its full-year production target to 520,000 gold equivalent ounces from 514,000 gold equivalent ounces.Hochschild also...Read More
WASHINGTON (Reuters) - A U.S. regulatory council announced on Wednesday it had removed the systemically risky label from Prudential Financial (PRU.N), freeing the insurance company from more rigorous oversight by the Federal Reserve.The decision by the Financial Stability Oversight Council could cut regulatory costs at Prudential, which no longer will have to meet enhanced capital and liquidity st...Read More
(Reuters) - Shares of Netflix Inc (NFLX.O) soared 11 percent before the bell on Wednesday, after the company put fears of a slowdown in growth to bed by racking up seven million new subscribers between July and September.The video streaming pioneer shocked Wall Street last quarter by falling short of new subscriber estimates, but Tuesday’s figures put its total customer base at 137 million w...Read More
WASHINGTON, (Reuters) - U.S. homebuilding dropped more than expected in September as construction activity in the South fell by the most in nearly three years, likely held down by Hurricane Florence.Housing starts fell 5.3 percent to a seasonally adjusted annual rate of 1.201 million units last month, the Commerce Department said on Wednesday. Data for August was revised down to show starts rising...Read More
ROKU has found support near its 80-day moving averageThe shares of Roku Inc (NASDAQ:ROKU) are up 3% ahead of the bell, after a ban on its devices in Mexico was lifted. The ban resulted from a copyright dispute due to hackers and pirated content. The streaming stock is also likely enjoying a halo lift from Netflix (NFLX), following the sector peer's upbeat earnings report. On the charts, Roku sto...Read More
Holdings of gold by exchange-traded funds has now risen for six days ina arrow, the longest run in nearly six months, says commodities brokerage SPAngel. The ETFs track the price of the commodity but trade like a stock, withmetal put into storage to back the shares. ETF holdings climbed to 2,107.2 tonnes on Tuesday, the mostsince Sept. 10, analysts report, citing data compiled by Bloomberg. &ldquo...Read More
Netflix shares are surging in pre-market tradingU.S. stock futures are pointing toward a mixed open this morning. The Dow Jones Industrial Average (DJIA) looks set for a meaningful pullback after yesterday's massive rally, with Dow component IBM (IBM) down pre-market after earnings. On the other hand, Nasdaq-100 (NDX) futures are comfortably above fair value, thanks to impressive Netflix (NFLX) ea...Read More
ROME (Reuters) - Italy’s 2019 budget may be rejected by the European Commission and a credit rating downgrade is also possible, a senior government official said on Wednesday.“Let’s say that the premise is there” for the commission to start an infraction process over the budget, Stefano Buffagni, cabinet undersecretary for regional affairs, said in an interview with Radio C...Read More
There's a few "sneaky" tricks Wall Street doesn't want made public.While pretending to be pillars of investing intelligence and integrity...The richest, most influential billionaires on Wall Street are secretly manipulating the market - and they don't care who gets hurt in the process.It's nothing personal...They have multi-million dollar bonuses to collect and high-rise condos to buy their mistre...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump heaped more criticism on the Federal Reserve in an interview with Fox Business Network on Tuesday, extending his discontent beyond its chairman, Jerome Powell, whom he has frequently critiqued in public.“My biggest threat is the Fed,” he said, according to excerpts released before the interview with “Trish Regan Primetime”...Read More
CHICAGO (Reuters) - United States Steel Corp (X.N) workers are set to get the biggest wage jump in at least six years under a new deal negotiated with the company, providing early signs that gains from U.S. President Donald Trump’s clampdown on foreign imports are finally trickling down.The agreement, reached on Monday, proposes a cumulative 14 percent wage increase over a four-year period,...Read More
(Reuters) - Sprint Corp (S.N) has sold the mobile data and advertising company it created in 2012 to InMobi, which provides technology for marketers, in an all-stock deal, the companies said on Wednesday.The fourth-largest U.S. wireless carrier by subscribers is selling the company called Pinsight Media as it awaits regulatory approval to sell itself to larger rival T-Mobile US Inc (TMUS.O). The v...Read More
GENEVA (Reuters) - Statements by the United States that it would reduce Iran’s oil exports to zero are a “political bluff”, the head of state-run National Iranian Oil Company (NIOC) said, according to a report published by Tasnim news agency on Wednesday.Iran’s Foreign Ministry also criticized U.S. sanctions imposed on Tuesday on several Iranian banks and other companies, s...Read More
• A subdued USD action/reviving safe-haven demand helps regain some traction. • A modest uptick in the US bond yields kept a lid on any meaningful up-move. • Investors keenly await FOMC meeting minutes for a fresh directional impetus. Gold reversed an early dip to the $1220 area and is currently placed at the top end of its dail...Read More
GENEVA (Reuters) - Statements by the United States that it would reduce Iran’s oil exports to zero are a “political bluff”, the head of state-run National Iranian Oil Company (NIOC) said, according to a report published by Tasnim news agency on Wednesday.Iran’s Foreign Ministry also criticized U.S. sanctions imposed on Tuesday on several Iranian banks and other companies, s...Read More
(Kitco News) - The release of the U.S. housing data from September had little impact on gold prices, with the metal holding on to most of the previous gains that pushed prices to a ten-week high earlier this week.U.S. housing starts declined 5.3% to a seasonally adjusted annual rate of 1.201 million units in September, the Commerce Department said on Wednesday. Consensus forecasts compiled by most...Read More
EndeavourMining Corp. (TSX: EDV) reports that construction of its Ity carbon-in-leachproject in C??te d'Ivoire is two months ahead of schedule and on budget. Thefirst gold pour is now expected to occur early in the second quarter of 2019,rather than mid-year as previously planned. “Completing the construction sooneris expected to result in material improvement to our 2019 free-cash-flowgener...Read More
ANKARA (Reuters) - Turkey hopes to enter the Saudi consul’s residence in Istanbul on Wednesday in connection with the disappearance of Saudi journalist Jamal Khashoggi, Turkey’s foreign minister said after meeting U.S. Secretary of State Mike Pompeo.Turkish officials have said they believe the journalist was murdered and his body removed, an allegation the Saudis have strongly denied....Read More
WASHINGTON (Reuters) - U.S. Secretary of State Mike Pompeo, in a meeting with Turkish President Recep Tayyip Erdogan in Ankara on Wednesday, again offered U.S. assistance in Turkey’s investigation into the disappearance of Saudi journalist Jamal Khashoggi, the U.S. State Department said.“The Secretary also expressed the United States’ concern over Jamal Khashoggi’s disappe...Read More