Year: 2020

(Bloomberg) — U.S. and European equity futures declined along with Asian stocks Thursday after Federal Reserve minutes signaled tempered optimism about second-half growth and as Sino-American tensions simmered. The dollar extended its rebound.Shares in South Korea and Taiwan saw the bulk of losses, with China, Hong Kong and Japan also lower. A drop in S&P 500 futures signaled Wednesday’s weakness may continue after the Fed noted the health crisis would “weigh heavily” on economic activity and repeated its view that the recovery path depends on virus containment. The greenback built on gains that came after a five-day selloff. Gold pared …read more […]

The COVID-19 pandemic has accelerated digital transformation as more people are working from home and even education has moved online. The new normal has been favorable for many tech companies as the demand for PCs, laptops and other peripheral accessories has increased.Chip companies like Micron Technology, Qualcomm, NVIDIA, AMD and Intel are experiencing higher demand from OEMs (original equipment manufacturers) like personal computer manufacturers and gaming console makers. They are also seeing robust sales of chips to data centers.Using the TipRanks’ Stock Comparison tool, we will place Intel and AMD alongside each other to see which stock offers the most …read more […]

Spot gold was up 0.9% at $1,946.09 per ounce by 0307 GMT, after declining more than 3.5% to a near one-week low on Wednesday. U.S. gold futures fell 0.9% to $1,952.90. The Fed on Wednesday warned the economic downturn triggered by the COVID-19 pandemic faces a highly uncertain path and reiterated the need for additional fiscal stimulus. …read more […]

(Bloomberg) — U.S. President Donald Trump is threatening to slap TikTok-style sanctions on more Chinese companies. But for Alibaba Group Holding Ltd., the largest of them all, the bigger challenge is coming from its own backyard for now.Landing in the White House’s cross-hairs could endanger a roughly $695 billion empire spanning online retail, food delivery and internet computing, but growing competition at home is the most immediate challenge. Alibaba’s long-standing dominance in China’s e-commerce sphere is under steady erosion from JD.com Inc. and Pinduoduo Inc., while in social retail channels Tencent Holdings Ltd. and TikTok-owner ByteDance Ltd. are vying for …read more […]

Intel Corporation (NASDAQ: INTC) shares jumped in the after-hours session Wednesday as the company said it was entering into accelerated share repurchase agreements to buy a total of $10 billion of the company’s common stock.What Happened Upon the completion of the agreements, the chipmaker will have purchased nearly $17.6 billion in shares as a part of its share buyback plan announced in October 2019, the company said in a statement.The Santa Clara, California-based company said it would purchase 166 million shares under one such agreement, which is set to be completed by the end of this year.”While the macro-economic environment …read more […]

The company, with a market cap that has eclipsed Intel Corp, also beat Wall Street expectations for the second quarter. Before the market close on Wednesday, Nvidia’s shares had gained more than 185% over the past year and with a valuation of about 53 times expected earnings over the next 12 months. Nvidia said it expects third-quarter revenue of $4.40 billion, plus or minus 2%, compared with analysts’ estimates of $3.97 billion, according to IBES data from Refinitiv. …read more […]

(Bloomberg) — Gold will extend its record-setting rally on “massive currency debasement” and expectations for further stimulus, according to SkyBridge Capital, which recently added exposure to the metal after exiting in 2011.“When you think of currency debasement the question is, what is the dollar going to weaken against, and when you look around the globe, it’s hard to be excited about alternative currencies,” said Troy Gayeski, co-chief investment officer and senior portfolio manager, listing the euro, yuan and emerging-market monies. “So, gold is obviously a natural alternative currency.”The precious metal surged to a record well above $2,000 an ounce earlier …read more […]

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When it comes to biotechs, all it takes is a single spark to ignite the flame. For Lipocine (LPCN), which is focused on metabolic and endocrine disorders, this spark could be a fast-approach regulatory decision. The company is gearing up for Tlando’s PDUFA date, currently scheduled for August 28.Writing for H.C. Wainwright, analyst Oren Livnat tells clients that Tlando, the company’s oral testosterone replacement therapy (TRT), has had a “long regulatory saga” that features two complete response letters (CRLs).That being said, based on multiple factors, Livnat is cautiously optimistic that the FDA will give the therapy its final stamp of …read more […]

(Bloomberg) — Palantir Technologies Inc., the data-mining company on the verge of going public, is moving to Denver, following a flight from Silicon Valley by Chairman Peter Thiel and Chief Executive Officer Alex Karp.The company was founded 17 years ago a few miles from Stanford University in Palo Alto, California, and has grown to occupy a significant presence in the upscale college town. The company has a dozen or so properties scattered across Palo Alto’s downtown, which are now empty as employees work from home to slow the spread of the coronavirus.Palantir changed its website earlier this week to list …read more […]

Though I haven’t lived in New York in more than 25 years, I still consider myself a New Yorker. It’s where I was born and raised.
I’m a lifelong Yankees fan, and I will argue to my dying breath about the superiority of New York bagels and pizza…
But one thing I don’t love is the dividend safety of New York Mortgage Trust (Nasdaq: NYMT).
The mortgage real estate investment trust (REIT), based on Park Avenue in Manhattan, pays a $0.05 per share quarterly dividend.
It makes money on the difference between how much it pays in interest on the money it borrows and …read more […]

This past Monday, investors flooded back into gold, and you probably know why…
It was reported that Warren Buffett just sold some of his bank stocks and began establishing a new position in Barrick Gold.
On this news – shares of gold stocks popped aggressively higher on Monday. And if you’ve been following us here in Trade of the Day – you were positioned to cash in.
If you recall, on July 27, I wrote “How to Trade Gold the Best Way, Hands Down.”
The specific trade that day was the Direxion Daily Gold Miners Index Bull 2X Shares (NYSE: NUGT).
For those who followed …read more […]

(Bloomberg) — Nvidia Corp. suggested that the growth of its data center business will slow, sending shares of the chipmaker down 1.4% in extended trading on Wednesday.Chief Financial Officer Colette Kress said data center sales will grow in the “low-to-mid single digit” percentage range in the fiscal third quarter, compared with the previous quarter, she said. That’s down from a 54% quarter-on-quarter surge in the most-recent period.While demand from major cloud service providers remains solid, the company has a more “mixed” outlook on spending by companies in some industries, the CFO added during a conference call with analysts.That quelled investor …read more […]

Stock futures opened slightly lower Wednesday evening as investors awaited the Labor Department’s weekly jobless claims report and another handful of earnings results before the bell. …read more […]

Investors are in the market game to make money – and there is plenty of it to be made, as stocks are hitting record levels in recent days. But the coronavirus hasn’t gone away, unemployment is still high, and while it’s possible to argue that we’re in a V-shaped recovery, it’s also possible to argue that the recovery is soft, and fragile.In this environment, investors want a clear sign to follow. Fortunately, there are two available. The first is momentum, the accumulated drive of a stock’s market trends, and the second is the Smart Score, the single-digit score for every …read more […]