(Reuters) - CVS Health Corp’s (CVS.N) third-quarter profit beat analysts’ estimates on Tuesday, as it benefited from higher sales of prescription drugs as well as consumer health and beauty products.Quarterly same-store sales at front-end stores rose 0.8 percent in contrast to analysts’ expectation of a 0.8 percent drop despite brick-and-mortar drugstore chains like CVS coming un...Read More
GENEVA/LONDON (Reuters) - Iran said on Tuesday it had so far been able to sell as much oil as it needs despite U.S. pressure, but urged European countries that oppose the U.S. sanctions to do more to shield Iran.The United States on Monday restored sanctions targeting Iran’s oil, banking and transport sectors and threatened more action to stop what Washington called its “outlaw”...Read More
The price of rebar imported into the United Arab Emirates fell in the week to Tuesday November 6, on continuing limited demand.The billet import market was also slow because mills in the UAE have enough billet in stock to last for more than two months, sources told Fastmarkets.Domestic rebarLocal producers were still offering rebar at 2,016 dirhams ($549) per tonne ex-works this week.And Fastmarke...Read More
(Reuters) - Eli Lilly and Co (LLY.N) recorded higher sales of its newer drugs Trulicity and Taltz in the third quarter, helping the diabetes specialist top Wall Street profit estimates and raise its yearly earnings target on Tuesday.Shares of Lilly jumped 4 percent in premarket trading following the news.Lilly is relying on new drugs to drive growth after it took its animal health unit public in S...Read More
LONDON (Reuters) - Euro zone business growth slumped to a two-year low in October as growing trade tensions and tariffs, alongside rising political uncertainty, put a dent in exports and optimism, a survey showed on Tuesday.However, while survey and official figures on Tuesday showed the slowdown is relatively widespread, the clouds over the euro zone are not as dark as recently feared.Any positiv...Read More
Fastmarkets proposes to change the publication time of the CIS export steel billet index, fob Black Sea ports, from 2pm to 4pm London time each day.The proposed change will allow the capture of a larger number of transactions during the day and therefore will help to increase the liquidity of the index.The deadline for data submissions to the CIS Billet Index will be changed from 1.30pm to 3p...Read More
China's domestic rebar prices kept their downward trend on Tuesday November 6 following the sharp decrease in futures. Domestic Eastern China (Shanghai): 4,590-4,640 yuan ($663-671) per tonne, down 20-40 yuan per tonneNorthern China (Beijing): 4,420-4,460 yuan per tonne, down 20-30 yuan per tonneRebar futures dropped sharply in early trading hours on Tuesday after the steelmaking hub of Tangshan r...Read More
CHICAGO (Reuters) - Daniel Loeb’s Third Point LLC criticized Campbell Soup Co’s (CPB.N) board on Monday for allowing the grandchildren of the company’s former chairman to quietly build voting power through the soup maker’s share buybacks in recent decades.Third Point, which owns 7 percent of Campbell’s stock, has been campaigning to oust its entire board at a sharehol...Read More
By SaadSayeedISLAMABAD, Nov 6 (Reuters) - Pakistan begins nearly twoweeks of talks with the International Monetary Fund on Wednesdayover what would be the South Asian country's 13th IMF bailoutsince the 1980s to help it end a spiralling current accountcrisis. Finance Minister Asad Umer says $12 billion is requiredimmediately, a large chunk of which is expected to be drawn fromthe IMF."The ini...Read More
There were broad gains throughout the tech sectorU.S. stocks managed gains today, as Wall Street kept a close eye on the start of U.S. midterm elections. Powered by a rally in IBM shares, it was a steady climb higher for the Dow, with the index rallying into the close to grab a second straight win. The Nasdaq and S&P 500 also had solid sessions, thanks mostly to broad strength out of the tech sect...Read More
Chinese ferro-silicon prices dropped in the week ended Friday November 2 due to slow buying interest and a weak yuan versus the dollar, while the European market also succumbed to quiet demand, causing suppliers to cut their offer prices to garner buying interest. Chinese market drops in line with demand Weaker yuan exacerbates downward trend European suppliers cut offer prices ...Read More
AMD stock is also rallying todayTech stocks are boosting the broader stock market on Election Day. Among individual names making notable moves are chipmaker Advanced Micro Devices, Inc. (NASDAQ:AMD), and cybersecurity names Symantec Corporation (NASDAQ:SYMC) and FireEye Inc (NASDAQ:FEYE). Here's a quick look at what's moving shares of AMD, SYMC, and FEYE.AMD Stock Pops on EPYC Processor AWS Availa...Read More
* Government supporters to press RBI at board meeting onNov. 19 * Government wants its economic priorities to be accepted byRBI * Govt officials prepared to risk RBI governor'sdeparture-sources * If Patel departs it is likely to roil financialmarkets-traders * Struggle will be a test of the powers of the RBIboard-sources By Manoj Kumar and Suvashree ChoudhuryNEW DELHI/MUMBAI, Nov 6 (Reuters) - The...Read More
Cowen cheered Calix's recent earnings reportThe shares of Calix Inc (NYSE:CALX) are up 23.6% to trade at $9.25, near the top of the New York Stock Exchange (NYSE) today. Powering the surge is the company's better-than-expected third-quarter earnings release, which came through last evening. Also helping is an upgrade out of Cowen to "outperform" from "market perform" anda price-target hike to $14...Read More
Low-grade manganese ore prices got a boost in the week ended Friday November 2 after buyers were caught between the end of November's offers and the start of December's. Low-grade manganese ore prices rise in China amid a lack of offersHigh-grade manganese ore index slidesChinese manganese alloy prices largely steadySilico-manganese quotation drops in EuropeUS alloy price holds in quiet marketLow...Read More
After the Democrats took control of the House in 2006, the housing ETF rocketed higherMidterm elections are taking place across the U.S. today, as you're likely well aware. Last week, we took a broader look at the impact of these mid-cycle votes on stocks. This week, with expectations calling for the House of Representatives to shift from red to blue, we'll take a look at which sectors won and los...Read More
Workday may have closed a contract with DisneyWorkday Inc (NASDAQ:WDAY) is trading up 3.8% today at $135.25, thanks to rumors the software company landed a few major contracts during the third quarter, including one with Walt Disney (DIS). While nothing will be confirmed until Workday reports earnings -- tentatively scheduled for later this month -- options traders are seemingly betting on more up...Read More
Groupon has been struggling on the charts for monthsShares of Groupon Inc (NASDAQ:GRPN) are trading slightly higher this afternoon, last seen up 0.9% at $3.30. The coupon concern is expected to report its third-quarter earnings before the market opens tomorrow, Nov. 7. Below, we will take a look at what the options market has priced in for the stock's post-earnings moves, and dive into the shares'...Read More
Chrome ore and alloy prices dropped in China last week after tender price cuts for November continued to weigh on sentiment, while the US high-carbon ferro-chrome price halted recent declines on an uptick in inquiries. Chinese markets still reacting negatively to lower November tendersAlloy prices hold in JapanSouth Korean alloy prices inch lowerEuropean price drop on plentiful Indian supply ...Read More
CloseGain/LossGold $1226.40-$4.10Silver$14.52-$0.12XAU66.31-1.24%HUI147.83-1.33%GDM541.35-0.52%JSE Gold1137.32-24.70USD96.28-0.06Euro114.16+0.05Yen88.23-0.18Oil$62.21-$0.8910-Year3.219%+0.018T-Bond137.28125-0.28125Dow25635.01+0.68%Nasdaq7375.96+0.64%S&P2755.45+0.63% The Metals: Gold gained $5.40 to $1235.90 in London before it fell to as low as $1223.60 in early afternoon...Read More