Category Archive: Finance
Citi Warns Trading Revenue To Tumble 15% In Q3 Due To “Subdued Volatility”
Exactly three months ago, in mid-June, Citigroup CFO John Gerspach warned investors at a Morgan Stanley investment conference that Citi’s second quarter trading revenues would be down 12-13%, mostly due to declining market volatility. A few weeks later, he was proven right when US banks – and especially Goldman Sachs – posted some of the worst […]
In The Dark
The stock market is zooming this morning on the news that only 5.7 million people in Florida will have to do without air conditioning, hot showers, and Keurig mochachinos at dawn’s early light Monday, Sept 11, 2017. I’m mindful that the news cycle right after a hurricane goes kind of blank for a day or […]
Teva Hires Kare Schultz As CEO: Is A Recovery In The Cards?
Teva Pharmaceutical Industries Limited (TEVA – Free Report) announced the appointment of Kåre Schultz as president and chief executive officer (CEO), thus ending the Israeli generic maker’s more than six-month long search for a permanent CEO. Share rose more than 12% in pre-market trading on Monday. Schultz, until now, served as president and CEO of Denmark’s H. Lundbeck […]
Just Another Manic Monday – Hurricane Relief
Well, it looks like we dodged a bullet. More like $50Bn worth of Hurricane Irma damage vs up to $200Bn expected, so a nice break for insurance stocks (KIE ) – as long as there are no other storms barreling down on us. The markets have gapped up half a point and we’re back to our […]
Yuan Tumbles As PBoC Gambit Puts Brakes On – At Least For Today
I’m not sure it will ultimately be enough to get the job done, all things considered, but the PBoC’s decision to effectively remove a barrier to speculation against the yuan (that’s a crude way to describe it, but it gets the point across) by cutting a reserve requirement put in place in the days following […]
USD/JPY Triggers Corrective Recovery, Eyes 109.00 Zone
USD/JPY: The pair saw a saw recovery during early trading today opening the door for correction in the days ahead. On the downside, support comes in at the 108.00 level where a break if seen will aim at the 107.50 level. A cut through here will turn focus to the 107.00 level and possibly lower […]
GBP/USD Rips, EUR/GBP Dips Ahead Of U.K. Inflation, BoE Rates
Last week closed on a sour note for the U.S. Dollar, as the currency continued the 2017 down-trend after having set a fresh 2.5 year low earlier on Friday morning. This extends the U.S. Dollar’s downside run beyond the 12% marker for this year, and even a dovish ECB meeting last week was unable to […]
The Earnings Recovery Remains An Illusion
While analysts hail “the best earnings season in 13 years,” the market has delivered a solidly lackluster response. Over the past month, the S&P 500 is down roughly 1% despite a string of earnings beats. With valuations this stretched, the market no longer appears willing to reward companies merely for beating quarterly expectations. Perhaps more […]
CanniMed Therapeutics Reports Financial Results For Q3 2017
TM editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence. CanniMed Therapeutics Inc. (TSX: CMED)(CMMDF) today released its financial results for the three and nine months ended July 31, 2017. Highlights Sales of $4.8 million in the quarter were 80 per cent higher than […]
Key Events In The Coming Week: BOE, SNB, Inflation And Retail Sales
In a somewhat quieter week for economic news, this week’s focus is on BoE and SNB policy meetings as well as on inflation releases in US, UK, China and others. Other releases of note include retail sales in the US, UK and China along with industrial production in US, Eurozone & China. Key events: Tuesday: UK Inflation Data […]
