Analysts are devoted to the drug stock, thoughThe shares of Clearside Biomedical Inc (NASDAQ:CLSD) are down a whopping 52.7% to trade at $2.63 this morning, after Xipere, the company's eye therapy drug, failed a late-stage study. The drugmaker will discontinue the development of the combination therapy for retinal vein blockage, but will still file a marketing application for Xipere at year's en...Read More
NEW YORK (Reuters) - A key gauge on U.S. interbank borrowing costs fell for the first time since August on Friday as trading volume rose to its highest level in over a month, implying less strain in money markets, New York Federal Reserve data released on Monday showed.The “effective,” or average, interest rate on what banks charge each other to borrow excess reserves was 2.19 percent...Read More
LONDON (Reuters) - European shares were little changed in choppy trade on Monday, as a four-day rally ran out of steam after investor nervousness over fast-rising U.S. interest rates and Washington’s trade dispute with Beijing hit Asian markets.The pan-European STOXX 600 was flat by 0936 GMT, with most country indexes also hovering around neutral.Tuesday’s U.S. mid-term elections also...Read More
LONDON, Nov 5 - The cost of building a copper or gold mine is likely to be cheaper than buying an existing one, dampening the prospect of big merger activity in the mining sector, S&P Global Market Intelligence said, citing in-house research.Data shared with Reuters support comments from major miners, including BHP and Rio Tinto , which say their strategy is to build or to "smart buy", if they can...Read More
LONDON, Nov 5 - The cost of building a copper or gold mine is likely to be cheaper than buying an existing one, dampening the prospect of big merger activity in the mining sector, S&P Global Market Intelligence said, citing in-house research.Data shared with Reuters support comments from major miners, including BHP and Rio Tinto , which say their strategy is to build or to "smart buy", if they can...Read More
LONDON, Nov 5 - The cost of building a copper or gold mine is likely to be cheaper than buying an existing one, dampening the prospect of big merger activity in the mining sector, S&P Global Market Intelligence said, citing in-house research.Data shared with Reuters support comments from major miners, including BHP and Rio Tinto , which say their strategy is to build or to "smart buy", if they can...Read More
CVX jumped last Friday on an impressive earnings reportThe shares of Chevron Corporation (NYSE:CVX) are trading up 3.3% at $118.01, after the Dow stock received a pair of bullish brokerage notes over the weekend. While Credit Suisse upgraded CVX stock to "outperform" from "neutral" -- citing "compelling" valuation -- Berenberg raised its Chevron price target to $140 from $135, representing expecte...Read More
WASHINGTON (Reuters) - Republican Donald Trump and Democrat Barack Obama made dueling election appearances on Sunday, offering sharply different views on the country’s problems but agreeing on the high stakes for voters in the final 48 hours of a tight campaign.With opinion polls showing dozens of tight U.S. congressional and gubernatorial races in Tuesday’s election, the current and f...Read More
NEW YORK (Reuters) - Buy the dollar but sell FAANGs, buy real estate and machinery, but sell the overall market. Or, do nothing at all.Investors heading into Tuesday’s U.S. congressional elections are trying to fathom how best to predict the outcome and profit from it.After two years of wielding no practical political power in Washington, the Democratic Party faces a strong chance of winning...Read More
TUNIS (Reuters) - Tunisian Prime Minister Youssef Chahed will announce a partial cabinet reshuffle this week, three sources said on Monday, as he faces mounting pressure over the government’s failure to revive the economy, including from his own party Nidaa Tunis.Chahed will make changes to at least six portfolios, including Tourism, Energy, Health and Transport, one of the sources said, whi...Read More
(Reuters) - Goldman Sachs Group Inc (GS.N) is ahead of its goal to generate $5 billion in additional annual revenue by 2020, having already achieved half that amount in the first nine months of this year, the Wall Street bank said on Monday.Goldman has made headway on plans to lend more to consumers and big businesses, and improve revenue from trading, investment banking and asset management, acco...Read More
Since breaking above $1240, gold has gone back into churning mode. The fact that gold continues to make higher lows and is holding its support levels, we expect it to break out to the upside. The next level we expect to see is $1,275 as gold looks prepared to go into an extended rally. All signs point to gold breaking out, which could create an extended bull market. The metals in general gave held...Read More
Since breaking above $1240, gold has gone back into churning mode. The fact that gold continues to make higherlows and is holding its support levels, we expect it to break out to theupside.The next level we expect to seeis $1,275 as gold looks prepared to go into an extended rally. All signs pointto gold breaking out, which could create an extended bull market. The metals ingeneral gave held up we...Read More
LONDON (Reuters) - Oil prices steadied on Monday as U.S. sanctions against Iran’s fuel exports began but were softened by waivers allowing major buyers to import Iranian crude for a while, as Tehran said it would defy Washington and continue to sell.Brent crude oil LCOc1 was unchanged at $72.83 a barrel by 1230 GMT. U.S. light crude CLc1 was 15 cents lower at $62.99.Both oil benchmarks have...Read More
UAA could take out its June highs todayThe shares of Under Armour Inc (NYSE:UAA) are coming off a huge week that saw them jump 31.8% thanks to a top- and bottom-line beat for the third quarter. UAA stock closed the week at $23.70, its highest settlement since late-June, putting it within striking distance of its June 7 52-week high of $24.69. The security is set to gain again this morning, up 2.5%...Read More
Apple is struggling once more out of the gateFutures on the Dow Jones Industrial Average (DJI) are lower to kick off the week, as investors prepare for the midterm elections tomorrow. Traders are also keeping an eye on U.S.-China trade relations, after Chinese President Xi Jinping promised to reduce tariffs for importersand promoted "free trade" at a conference in Shanghai. S&P 500 Index (SPX) a...Read More
(Reuters) - Lowe’s Companies Inc (LOW.N) is closing 20 underperforming stores in the United States and 31 in Canada as part of a restructuring, the home improvement retailer said on Monday.Lowe’s, which has trailed Home Depot (HD.N) in sales for years, is in the midst of a turnaround under new Chief Executive Officer Marvin Ellison, who has promised to remove slow-selling products and...Read More
Alamos GoldInc. (TSX, NYSE: AGI) reports that its drilling program has discovered anextension of high-grade mineralization at the Island Gold Mine. In the “main extension,” the new findingsinclude 118.58 grams of gold per tonne over 6.66 meters, 21.50 g/t over 7.80meters, and 31.70 g/t over 3.81 meters. In the “western extension,” discoveriesinclude 78.26 g/t over 2.29 me...Read More
(Reuters) - Verizon Communications Inc said on Monday it will reorganize its business segments into Consumer, Business and Verizon Media Group/Oath to focus on the types of customers it serves.The reorganization under Chief Executive Officer Hans Vestberg, who was named to the top job on Aug. 1, is a shift from the previous operating structure split between wireless and wireline and included the l...Read More
BERLIN, Nov 5 (Reuters) - German Chancellor Angela Merkel said on Monday that her Christian Democrats (CDU) had agreed they would like to continue heading up the federal coalition government with the Social Democrats (SPD) and Bavaria’s Christian Social Union.“I believe that what is important for the SPD - and this is justifiable - is that we, as the CDU, continue to feel committed to...Read More