Stock Articles

Barrick favors taking back control of Acacia Mining

Oct. 23, 2018, 11:32 AM / Bloomberg News

Barrick Gold Corp. favors taking back control of its separately listed Tanzanian assets after completing its takeover of Africa-focused rival Randgold Resources Ltd., according to people familiar with the situation.Barrick spun off those assets in 2010 into a company now called Acacia Mining Plc. That unit - listed in London but majority owned by Barrick - has been dogged by operational setbacks...Read More

Barrick favors taking back control of Acacia Mining

Oct. 23, 2018, 11:32 AM / Bloomberg News

Barrick Gold Corp. favors taking back control of its separately listed Tanzanian assets after completing its takeover of Africa-focused rival Randgold Resources Ltd., according to people familiar with the situation.Barrick spun off those assets in 2010 into a company now called Acacia Mining Plc. That unit - listed in London but majority owned by Barrick - has been dogged by operational setbacks...Read More

Falling stocks depress U.S. dollar against other safe havens

Tuesday October 23, 2018 11:25 / Kitco News

NEW YORK (Reuters) - The U.S. dollar fell on Tuesday after Wall Street opened lower, spurring a risk-off move that benefited the safe-haven Japanese yen and Swiss franc against the greenback.The Dow Jones Industrial Average .DJI, the S&P 500 .SPX and the Nasdaq Composite .IXIC were all around 2 percent lower at mid-morning, dragged down by disappointing earnings from industrial bellwether...Read More

Autodesk, Flex veterans raise $179 million for manufacturing startup

Tuesday October 23, 2018 11:25 / Kitco News

(Reuters) - A group of former executives from Autodesk Inc and Flex Ltd has raised $179 million in venture capital for a manufacturing startup that aims to use a combination of robots and new software to remove much of the manual labor from manufacturing electronic devices.San Francisco-based Bright Machines focuses on two areas. One is “micro-factories” made up of robot cells it says...Read More

Gold Analysis: Jumps on Tuesday

Oct 23, 2018 11:24 / Staff reporter

Gold Gold prices have surged on Tuesday morning and reached the upper trend line of a dominant ascending pattern near the 1,235.00 level. If the commodity price breaks the resistance of the trend line, the metal is set to surge at least up to the 1,240.00 mark.   Meanwhile, a bounce off from the resistance and a following decline would reach back down to the pivot point at the 1,227.30 l...Read More

Gold Shines As Safe-Haven As U.S. Equities Drop Another 2%

Tuesday October 23, 2018 11:09 / Kitco News

(Kitco News)- Safe-haven demand is once again boosting gold prices as U.S.equity markets drop 2% across the board.“Gold’s safe-haven allure is back,” said Phillip Streible, seniormarket strategist at RJO Futures. “Equities are doing down sharply andinvestors don’t know what to do, so they are turning to gold.”Safe-haven demand pushed gold prices to its highest l...Read More

Gold Shines As Safe-Haven As U.S. Equities Drop Another 2%

Oct 23 2018 11:09AM / Kitco News

(Kitco News) - Safe-haven demand is once again boosting gold prices as U.S. equity markets drop 2% across the board.“Gold’s safe-haven allure is back,” said Phillip Streible, senior market strategist at RJO Futures. “Equities are doing down sharply and investors don’t know what to do, so they are turning to gold.”Safe-haven demand pushed gold prices to its highe...Read More

Dyson picks Singapore to build electric cars rivaling Tesla

Oct. 23, 2018, 11:03 AM / Reuters

Dyson Ltd., famous for making vacuum cleaners, picked Singapore to manufacture its first electric car, pushing ahead with plans to challenge Tesla Inc. in the hottest sector of the automotive market.The closely held British manufacturer, also known for hand dryers and air purifiers, said Tuesday it will complete the factory by 2020 and stuck to a goal of rolling out its first model by 2021 as part...Read More

Gold Backs Off Daily Highs As U.S. Stocks Off Daily Lows

Tuesday October 23, 2018 11:02 / Kitco News

(Kitco News) - Gold prices are still holding decent gains of around $10.00 an ounceafter hitting a nearly three-month high of $1,243.00, basis December Comex futures, in early U.S. trading Tuesday.However, the safe-haven metal has backed down from session highs as the U.S.stock indexes have moved up from their session lows, but are still tradingsolidly lower on the day. December gold was last up...Read More

Euro zone consumer sentiment rises slightly in October

Tuesday October 23, 2018 10:58 / Kitco News

BRUSSELS (Reuters) - Euro zone consumer sentiment rose slightly in October, against expectations of a decline, according to figures released on Tuesday.The European Commission said a flash estimate showed euro zone consumer morale increased to -2.7 points in October from -2.9 points in September. Economists polled by Reuters had on average expected a decline to -3.2 points.In the European Union as...Read More

U.S. Treasury targets Taliban, Iranian backers with sanctions

Tuesday October 23, 2018 10:58 / Kitco News

WASHINGTON (Reuters) - The U.S. Treasury Department imposed sanctions targeting Afghanistan's Taliban insurgency on Tuesday, designating eight people including two Iranians linked to Tehran's Revolutionary Guards' Quds force, according to the department's website.The individuals, which include two Pakistanis and four Afghanis, were identified as global terrorists by the Treasury Department, an act...Read More

Puerto Rico revised fiscal plan approved over government opposition

Tuesday October 23, 2018 10:42 / Kitco News

SAN JUAN (Reuters) - Puerto Rico's federally appointed financial oversight board on Tuesday unanimously approved a revised fiscal reform plan meant to put the bankrupt island on a path toward solvency, but faced opposition from the elected government for being too strict.The vote by the seven members of the board was unanimous even though some raised concerns about the plan's ultimate viability to...Read More

Wall Street tumbles as weak industrials add to dour mood

Tuesday October 23, 2018 10:41 / Kitco News

(Reuters) - Wall Street sank more than 1 percent on Tuesday as disappointing forecasts from industrial bellwethers Caterpillar and 3M piled on to concerns over Saudi Arabia’s diplomatic isolation, Italy’s finances and trade-war fears.All the three major Wall Street indexes were trading below their 200-day moving averages, a key technical indicator of long-term momentum and all 11 major...Read More

Option Buyers Are Souring On the Stock Market

Oct 23, 2018 10:33 AM / Andrea Kramer

What the recent spike in put buying could mean for the S&PAs Schaeffer's Senior V.P. of Research Todd Salamone pointed out in this week's Monday Morning Outlook, equity option buyers have soured on the market amid the latest post-rate-hike hangover for stocks. In reaction to the recent sell-off on Wall Street, "this group was buying equity put options relative to call options at a rate similar to...Read More

Anglo will dig more platinum and diamonds than expected

Oct. 23, 2018, 10:32 AM / Bloomberg News

Anglo American Plc will dig more platinum than expected this year, while diamond production from its De Beers business will be at the top end of its guidance range.The century-old mining company released its production results for the third-quarter Tuesday. While there were no major surprises, there was also no new information on its suspended Minas Rio iron ore mine in Brazil that's scheduled to...Read More

RT @HC_Haplo: Audi Hit With 10% Price Increase On LG Batteries Due To High Demand #lithium

Tue Oct 23 10:23:51 2018 / Haplo

German newspaper Bild am Sonntag has reported that Audi has hit a snag in its battery supply chain. LG Chem is looking to increase the price of its batteries 10% due to high demand for its automotive batteriesRead full newsRead More

Analysts Keep Crushing eBay Stock

Oct 23, 2018 10:22 AM / Josh Selway

eBay reports earnings next weekeBay Inc (NASDAQ:EBAY) keeps sinking to new lows and analysts continue to cut their outlooks on the stock. Since yesterday's close, EBAY has been hit with no fewer than eight bear notes, including a downgrade to "sector perform" from "outperform" at RBC, which lowered its price target by $13 to $34. Meanwhile, Susquehanna, Raymond James, SunTrust Robinson, and Jeffer...Read More

Pan Orient Energy Thailand Oil Discovery

2018-10-23 10:21 / Mr. Jeff Chisholm reports

Mr. Jeff Chisholm reportsPAN ORIENT ENERGY CORP. L53-DD1 THAILAND OIL DISCOVERYPan Orient Energy Corp.'s L53-DD1 exploration well has encountered an interpreted and combined 26 metres of net oil pay within three separate sandstone reservoirs between a true vertical depth of 960 metres to 1,125 metres. This interpretation was based on conventional open-hole wireline logs and hydrocarbon indication...Read More

Pan Orient Energy Thailand Oil Discovery

2018-10-23 10:21 / Mr. Jeff Chisholm reports

Mr. Jeff Chisholm reportsPAN ORIENT ENERGY CORP. L53-DD1 THAILAND OIL DISCOVERYPan Orient Energy Corp.'s L53-DD1 exploration well has encountered an interpreted and combined 26 metres of net oil pay within three separate sandstone reservoirs between a true vertical depth of 960 metres to 1,125 metres. This interpretation was based on conventional open-hole wireline logs and hydrocarbon indication...Read More

UTC beats profit estimates on airplane boom, lifts forecast

Tuesday October 23, 2018 10:20 / Kitco News

(Reuters) - United Technologies Corp (UTX.N) reported a better-than-expected quarterly profit and raised its full-year profit forecast on Tuesday as it benefited from higher sales of aircraft parts, driven by record production at planemakers Boeing and Airbus.A boom in air travel on the back of an improving global economy has boosted profits at major suppliers United Tech and Honeywell (HON.N).Uni...Read More

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