Connect with us

Uncategorized

Gold losing its sheen as economy showing signs of recovery

Published

on

For the first time in a period of four days the prices of Gold dropped and this is being considered as a sign of optimism in the recovery of the economy of the United States. However, the prices of Platinum and Palladium have advanced. Spot gold reported a fall of 0.4 percent and is currently $1,651.62 an ounce in comparison to $1,654.85 in Singapore recorded at 1.14 p.m. There was a loss of about 2.3 percent last week and it was the highest since June 22. In contrast to this according to data collected in the month of November, there is an increase in consumer spending leading to an increase in the orders placed for durable goods as well as industrial output.

According to the report generated as part of the Bloomberg survey, there has been a growth of 3.1 percent annually in the last quarter in the largest economy and has exceeded all projections part of the survey. Huang Guobo, who looks after the management of the foreign exchange reserved worth $3.3 trillion in China, said the U.S is a bright spot for the global economy in the year 2013. China is the largest foreign lender to the U.S. government. President Obama and John Boehner, House Speaker have not yet captured a deal that promises more than $600 billion for automatic spending cuts and increase in tax January 1 onwards, which is titled as fiscal cliff.

Janet Kong, who works as an analyst at the China International Capital Corp., Which is the nation’s biggest investment bank conveyed through a note: “The economy of the United States has been recovered and the market is optimistic on the resolution of the fiscal cliff”. At Cornex in New York, gold slipped down to $1,655.60 an ounce after experiencing a decline of 0.2 percent. Holdings in gold, which backed ETPs, have expanded about twelve percent this year as revealed by the data compiled on the Bloomberg’s show.

This year there is a gain of about 5.8 percent of Spot gold making it perfect for a twelfth annual gain as the investors have strong belief that the metal will continue to hold a solid place against falling currencies and inflation threats. An increase of 0.9 percent has been observed in Spot Platinum and its currently stand at $1,549 an ounce, which was earlier $1,548.50. In the year 2012 the best precious metal reported a rise of about eleven percent. Palladium increased by 0.2 percent and came to $687 an ounce, which is approximately 4.9 percent higher in comparison to last year. Cash silver experienced a fall of 0.2 percent and came down to $29.8975 an ounce.

Continue Reading

Uncategorized

Stocks In News: Office Depot (NYSE:ODP), Novartis’ (NYSE:NVS)

Published

on

New data from a Phase 3 clinical trial in China evaluating Novartis’ (NYSE:NVS) IL-17A inhibitor Cosentyx (secukinumab) in patients with moderate-to-severe plaque psoriasis showed a treatment benefit. The results are being presented at the American Academy of Dermatology Annual Meeting in Washington, DC.

97.7% of patients receiving 300 mg of Cosentyx achieved PASI 75 (75% improvement in symptoms) at week 12 while 87% achieved PASI 90 (90% improvement) at week 16.

For the 150 mg dose, 87.8% achieved PASI 75 and 66.4% achieved PASI 90 at week 12.

The FDA approved Cosentyx for the indication in January 2015.

Shares are down 3% premarket on light volume.

Have you seen the article Forbes wrote about the ASDN Flying Passenger Drone and its technology?

Office Depot (NYSE:ODP) announces a new strategic collaboration with Alibaba (NYSE:BABA).

The collaboration is expected to leverage the companies’ respective strengths to serve U.S. SMBs, including Office Depot’s deep relationships with more than 10M U.S. business customers.

The company says the goal of the collaboration is to empower U.S. small- and medium-sized businesses to grow by tapping into the global B2B e-commerce marketplace.

ODP +10.96% premarket to $3.95.

Why Investors Are Calling ASDN the TPC of the Sky!

Continue Reading

Uncategorized

Stocks Alert: Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE), Tile Shop Hldgs, Inc. (NASDAQ:TTS), Thompson Creek Metals Company Inc (USA)(NYSE:TC)

Published

on

Tile Shop Hldgs, Inc. (NASDAQ:TTS)’s shares decreased 9.31% to $11.79. On June 30, 2014, the company announced the appointment of Kirk Geadelmann as its new Chief Financial Officer. Mr. Geadelmann will transition into the role on August 12, 2014, succeeding Chief Financial Officer Timothy C. Clayton, who has resigned his position from the Company to pursue another executive position. Kirk Geadelmann is a seasoned financial manager whose 23 years of professional experience includes a blend of financial and operational accomplishments, primarily in the retail industry.

Get the Inside Scoop On TTS here with this Free Report

Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE)’s shares declined 4.23% to $3.17. The company on June 27 hosted a press conference in Rio de Janeiro to announce the Company’s plans to leave a sustainable legacy in Brazil. These plans include becoming the first ever carbon neutral sponsor of the FIFA World Cup, and supplying 400 to 600 kW for a solar legacy project in Brazil that is expected to be among the largest solar energy systems in the country.

You won’t believe what we found out about YGE

Thompson Creek Metals Company Inc (USA)(NYSE:TC)’s shares declined 1.72% to $2.86. The company on July 10 announced production results for the three and six months ended June 30, 2014 for its three operating mines, Mt. Milligan, Thompson Creek and Endako. Total concentrate production for Mt. Milligan for the quarter ended June 30, 2014 was 29.7 thousand dry tonnes, with 16.0 million pounds of payable copper and 37.0 thousand ounces of payable gold. Total concentrate production for Mt. Milligan for the six months ended June 30, 2014 was 57.9 thousand dry tonnes, with 30.3 million pounds of payable copper and 76.2 thousand ounces of payable gold. Molybdenum production was 7.5 million pounds for the second quarter of 2014 and 15.4 million pounds for the first six months of 2014.

Why Should You Buy TC Now? Get The Free Trend Analysis Here

Continue Reading

Uncategorized

Most Active Buzz: Idenix Pharmaceuticals Inc (NASDAQ:IDIX), VIVUS, Inc. (NASDAQ:VVUS), Dendreon Corporation (NASDAQ:DNDN)

Published

on

Idenix Pharmaceuticals Inc (NASDAQ:IDIX)’s shares declined 0.41% to $24. The securities litigation law firm of Brower Piven, A Professional Corporation, on June 16 has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Idenix Pharmaceuticals, Inc. (IDIX) and other violations of state law by the board of directors of Merck & Co., Inc. (“Merck”), in a transaction valued at approximately $3.85 billion. Under the terms of the transaction, shareholders of Idenix would receive $24.50 in cash for each share of Idenix they own.

Get the Inside Scoop On IDIX here with this Free Report

VIVUS, Inc. (NASDAQ:VVUS)’s shares dropped 2.64% to $4.79. The company on June 12 announced that it has filed a lawsuit in the U.S. District Court for the District of New Jersey against Actavis Laboratories FL, Inc., Actavis, Inc., and Actavis PLC, collectively referred to as Actavis.

You won’t believe what we found out about VVUS

The lawsuit was filed in response to an Abbreviated New Drug Application, or ANDA, filed by Actavis. In its application, Actavis seeks to market and sell generic versions of the currently approved doses of Qsymia® (phentermine and topiramate extended-release) capsules CIV prior to the expiration of U.S. Patents 7,056,890, 7,553,818, 7,659,256, 7,674,776, 8,580,298, and 8,580,299, which are listed in the FDA’s Approved Drug Products with Therapeutic Equivalence Evaluations, or the Orange Book. VIVUS filed the lawsuit on the basis that Actavis’s proposed generic products infringe each of these patents held by VIVUS.

Dendreon Corporation (NASDAQ:DNDN)’s shares gained 0.44% to $2.28. The company on June 9 announced that John H. Johnson has informed the Board of Directors of his plans to step down as president and chief executive officer for personal reasons. Mr. Johnson has resigned from the Board, effective June 3, 2014, and the Board has elected Douglas G. Watson, Dendreon’s lead independent director, as chairman of the Board. Dendreon’s Board is working with an executive search firm to help identify Mr. Johnson’s successor.

Why Should You Buy DNDN Now? Get The Free Trend Analysis Here

Continue Reading
Advertisement

Trending