Recent News

U.S. business spending on equipment slowing; goods trade deficit rises

October 25, 2018 / www.kitco.com

WASHINGTON (Reuters) - New orders for key U.S.-made capital goods fell for a second straight month in September and the goods trade deficit increased further amid rising imports, suggesting economic growth moderated in the third quarter.But the growth pace was probably solid, with other data on Thursday showing gains in both wholesale and retail inventories last month. The economy is being underpi...Read More

Bears Blast Electronic Arts Stock Before Earnings

October 25, 2018 / www.schaeffersresearch.com

SunTrust Robinson cut its EA price target this morningIt's been a rough stretch for Electronic Arts Inc. (NASDAQ:EA), with the shares notching just three positive closes so far in October. Overall, EA stock is down 19% month-to-date -- pacing toward its biggest monthly loss since October 2008, when it lost 38.4%. Today, the security is up 3% at $99.12 in early trading, but this bounce may be due t...Read More

Allegiant Travel Stock Falters Again

October 25, 2018 / www.schaeffersresearch.com

ALGT's horrible year continuesAllegiant Travel Company (NASDAQ:ALGT) is adding to its massive year-to-date losses after the company's earnings report. Earnings per share for the third quarter came in at 94 cents, lower than the average analyst estimate of 96 cents. As such, ALGT is trading down 6.6% at $107.86, pennies above the new four-year low it hit this morning, with Cowen jumping in with a p...Read More

Brazil's #Vale misses 3rd qtr income estimate, revenue rises

October 25, 2018 / bit.ly

Brazil's Vale SA , the world's largest iron ore producer, on Wednesday posted $1.408 billion in third-quarter net income, below the 2.23 billion a year-ago.Read full newsRead More

Barrick #Gold profit, revenue drop as metal prices weaken

October 25, 2018 / bit.ly

Q3 sees lower profit due to lower prices for gold and copper alongside higher fuel costs.Read full newsRead More

OPEC, allies may need to change course as oil inventories rise: panel

October 25, 2018 / www.kitco.com

LONDON/RIYADH (Reuters) - OPEC and non-OPEC oil producers, which agreed to relax supply curbs in June, may need to change course because of rising inventories and economic uncertainties, according to a ministerial panel’s findings released on Thursday.The statement might further complicate relations between the Organization of the Petroleum Exporting Countries and the United States, whose Pr...Read More

Even the most experienced #lithium producers struggle when it comes to ramping up supply, suggesting that many proj...

October 25, 2018 / twitter.com

"Even the most experienced #lithium producers struggle when it comes to ramping up supply, suggesting that many projects being touted by small companies will never be built, according to Banco Santander. https://t.co/vyvmxQJpFF via @business"Read full newsRead More

ECB's Draghi: Confident Italy, European Commission will resolve budget standoff

October 25, 2018 / www.kitco.com

FRANKFURT, Oct 25 (Reuters) - European Central Bank President Mario Draghi said on Thursday that he was confident Italy and the European Commission would resolve their standoff over Rome’s budget plans for 2019.The European Commission rejected Italy’s draft 2019 budget this week, saying it brazenly broke EU rules on public spending, and asked Rome to submit a new one within three weeks...Read More

China says 'hard to understand' U.S. skipping import fair

October 25, 2018 / www.kitco.com

BEIJING (Reuters) - China finds it “hard to understand” why the United States is not sending senior government officials to a major import expo in Shanghai next month, the foreign ministry said on Thursday.The world’s two biggest economies are locked in an escalating tariff row, with President Donald Trump having railed against China for what he sees as intellectual property thef...Read More

EU-Turkey non-tariff trade barriers must be abolished, says Germany's Altmaier

October 25, 2018 / www.kitco.com

BERLIN, Oct 25 (Reuters) - Non-tariff trade barriers between the European Union and Turkey must be eliminated, German Economy Minister Peter Altmaier said on Thursday.Altmaier made the comments at a joint news conference with Finance Minister Berat Albayrak in Ankara. Altmaier also said discussing the European Union's customs policy with Turkey was a complicated process and there was a need for mo...Read More

Hilton Stock Rallies On Ackman Stake, Upgrade

October 25, 2018 / www.schaeffersresearch.com

Hilton shares had been in a ugly slump heading into todayThe shares of Hilton Hotels Corporation (NYSE:HLT) are up 1.9% to trade at $66.92, after Bill Ackman's Pershing Square Capital Management unveiled a 3.7% stake in the hotel operator. This follows yesterday morning's mixed earnings results, in which Hilton reported a third-quarter profit beat, but lowered the top end of its 2018 RevPAR grow...Read More

Germany's tax revenues to continue rising until 2022 - FinMin

October 25, 2018 / www.kitco.com

BERLIN, Oct 25 (Reuters) - The German government's tax revenues this year should be 2.5 billion euros ($2.86 billion) higher than previously thought, estimates released by Finance Minister Olaf Scholz on Thursday showed.The estimates showed the federal government expects tax revenues of 321.3 billion this year, which will rise gradually in each of the next four years to reach almost 368 billion eu...Read More

Teck Resources adjusted earnings fall on low commodity prices

October 25, 2018 / www.mining.com

Oct 25 (Reuters) - Diversified Canadian miner Teck Resources Ltd. reported a near 23 percent drop in third-quarter adjusted earnings on Thursday, as prices for the company's main products fell in the quarter.Teck, the world's second-biggest exporter of steel-making coal, said adjusted profit fell to C$466 million ($357.6 million), or C0.81 per share, during July-September, from C$605 million, or C...Read More

U.S. dairy farmers get little help from Canada trade deal

October 25, 2018 / www.kitco.com

MADISON, Wisconsin/ST. CLAUDE, Manitoba (Reuters) - Minnesota farmer Paul Fritsche can no longer afford health insurance as he struggles to sustain a dairy farm that has been in his family for nearly a century.With U.S. milk prices in the fourth year of a slump due to chronic oversupply, Fritsche, 58, is unsure whether he will be able to pass his 30-cow farm onto his sons and grandsons.“Do y...Read More

ECB's Draghi Stresses Accommodative Policy As Gold In EUR Remains Flat On The Day

October 25, 2018 / www.kitco.com

(Kitco News) - European Central Bank President Mario Draghi cautioned markets following the central bank’s rate announcement, promising that even if the asset purchase programme (APP) ends at the end of the year, the monetary policy will still remain “very accommodative.”The ECB left interest rates unchanged on Thursday, noting that it was still planning to end its monthly asset...Read More

Worried about iPhone eavesdroppers? China says Trump may need a Huawei

October 25, 2018 / www.kitco.com

BEIJING (Reuters) - China’s foreign ministry has some suggestions for the Trump administration if they are worried about foreign eavesdropping on the U.S. president’s iPhone: use a Huawei handset instead.Or just sever ties with the outside world completely.The riposte came after a New York Times report that Chinese and Russian spies often secretly listened in on President Donald Trump...Read More

ECB's Draghi Stresses Accommodative Policy As Gold In EUR Remains Flat On The Day

October 25, 2018 / www.kitco.com

(Kitco News) - European Central Bank President Mario Draghi cautioned markets following the central bank’s rate announcement, promising that even if the asset purchase programme (APP) ends at the end of the year, the monetary policy will still remain “very accommodative.”The ECB left interest rates unchanged on Thursday, noting that it was still planning to end its monthly asset...Read More

Two more bombs sent to former U.S. Vice President Biden, actor De Niro

October 25, 2018 / www.kitco.com

WASHINGTON/NEW YORK (Reuters) - Authorities discovered another wave of suspicious packages on Thursday targeting high-profile Democrats and critics of U.S. President Donald Trump as a manhunt intensified for a serial bomber less than two weeks ahead of elections.None of the nine devices went off and no injuries were reported, but some top Democrats called the threats a symptom of a coarsening bran...Read More

OceanaGold Posts 3Q Profit, Ups Production Guidance

October 25, 2018 / www.kitco.com

OceanaGold Corp.(TSX, ASX: OGC) reported a net profit for the third quarter of $21.7 million,or 4 cents a share, which was the same as in the third quarter of 2017. Thecompany lists production of 138,034 ounces of gold, up from around 136,000 inthe year-ago period. All-in sustaining costs were $761 an ounce. The averagegold price fell to $1,202 from $1,276. OceanaGold also produced 4,310 tonnes of...Read More

OceanaGold Posts 3Q Profit, Ups Production Guidance

October 25, 2018 / www.kitco.com

OceanaGold Corp. (TSX, ASX: OGC) reported a net profit for the third quarter of $21.7 million, or 4 cents a share, which was the same as in the third quarter of 2017. The company lists production of 138,034 ounces of gold, up from around 136,000 in the year-ago period. All-in sustaining costs were $761 an ounce. The average gold price fell to $1,202 from $1,276. OceanaGold also produced 4,310 tonn...Read More

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