Day: September 3, 2020

LabCorp (LH) Stock Moves -1.24%: What You Should Know
Stock News

LabCorp (LH) Stock Moves -1.24%: What You Should Know

In the latest trading session, LabCorp (LH) closed at $174.72, marking a -1.24% move from the previous day. This change was narrower than the S&P 500's 3.51% loss on the day. Meanwhile, the Dow lost 2.78%, and the Nasdaq, a tech-heavy index, lost 4.96%. Prior to today's trading, shares of the medical laboratory operator had lost 8.58% over the past month. This has lagged the Medical sector's gain of 2.77% and the S&P 500's gain of 9.58% in that time. Investors will be hoping for strength from LH as it approaches its next earnings release. On that day, LH is projected to report earnings of $4.73 per share, which would represent year-over-year growth of 63.1%. Our most recent consensus estimate is calling for quarterly revenue of $3.60 billion, up 22.77% from the year-ago period....
Davey Day Trader Portnoy says crypto is boring right now
Crypto News

Davey Day Trader Portnoy says crypto is boring right now

"I’m begging my crypto friends to get involved in the stock market," Portnoy, also known as Davey Day Trader, said in a Sept. 2 tweet. "Bitcoin is stuck in the mud," he explained, adding: "Let me lead you. We will get back to crypto later. The time to strike is now! No time for weak hands! Make the move!" Included in the tweet, Portnoy posted a scene from the movie "Captain America: The First Avenger" — the scene in which the main character, Steve Rogers, outsmarts his military team, pulling the pin on a flag pole to reach the flag instead of climbing the large pole. In true comedic Portnoy fashion, the sports media founder edited his smirking face onto the main character from the scene while also labeling the failing teammates as Link Marines, a group known for their fanfare around C...
Sebi penalises 12 individuals for fraudulent trading
Stock News

Sebi penalises 12 individuals for fraudulent trading

NEW DELHI: Capital markets regulator Sebi on Thursday imposed a total penalty of Rs 20 lakh on 12 individuals for indulging in fraudulent trading in the scrip of Finalysis Credit & Guarantee Company. The regulator levied a penalty of Rs 18 lakh on 12 individuals, which needs to be paid jointly and severally. Besides, a fine of Rs 2 lakh has been imposed on one of the individuals for not making timely disclosures to the company and BSE regarding the acquisition of shares in FCGCL, thereby violating the PIT (Prohibition of insider trading) norms and SAST (Substantial Acquisition of Shares and Takeovers) norms. Sebi, which investigated the trading activities in the scrip of Finalysis Credit & Guarantee Company (FCGCL), found that these entities were connected and working in unison...
How to Trade the Ascending Triangle Pattern
Online Trading, Technical Analysis

How to Trade the Ascending Triangle Pattern

The ability to detect a trading signal above the noisy day-to-day gyrations of the market is crucial for anyone who seeks to become a trader. Buy and hold investors only make money when the market goes up, but when you have a long timeframe, the averages work in your favor. But traders have to make money in all situations, whether it’s a raging bull market, a steep correction, or an extended period of choppy trading.  Some patterns have strictly bullish or bearish connotations, like the bull flag pattern and the double bottom formation. These patterns are usually used to spot a continuation or reversal of a trend before the price moves in that direction. However, not all patterns can be stuck with a label of ‘bullish’ or ‘bearish’. Some patterns, like triangles or pennants, can...
Fire is the test of gold
Investing

Fire is the test of gold

After almost doubling since its cycle low in December 2015, the price of gold witnessed a violent shakeout of over 7% in early August. Has the fundamental outlook for the yellow metal changed or should investors buy the recent dip? To answer those questions, we study some of the major drivers of gold prices, starting with sentiment. What’s the relationship between consumer sentiment and gold? In a physical sense, gold is a tangible and quantifiable substance, given its limited supply on planet Earth. Gold is so rare, in fact, that estimates suggest the entire global stock of gold would fit into two to three Olympic-sized swimming pools.1 Just like any other asset, however, its value can be influenced by forces other than mining and production, including human emotions. Consumption repre...
Maker community thanks yEarn for seemingly restoring DAI peg
Crypto News

Maker community thanks yEarn for seemingly restoring DAI peg

A new vault launched on yearn.finance is being credited for finally restoring the peg of Dai (DAI), the algorithmic stablecoin of the MakerDAO (MKR) project. As Cointelegraph previously reported, Maker had struggled with maintaining a strict $1 peg for DAI since the start of the yield farming wars in June.  Though it’s had ups and downs, the price of DAI consistently hovered around $1.02 in the past 30 days. As of press time, the price came down to $1. The community is crediting the yearn.finance project, which launched a new yield farming strategy that relies on minting DAI to farm the Curve token, CRV. The yETH vault, which executes this strategy, quickly rose in popularity and created 10% of DAI’s current circulating supply. The reason for that appears to be the high yield of...
Stocks making the biggest moves in the premarket: Facebook, Tesla, Kansas City Southern, Costco & more
Business news

Stocks making the biggest moves in the premarket: Facebook, Tesla, Kansas City Southern, Costco & more

Take a look at some of the biggest movers in the premarket: Facebook (FB) – Facebook announced it would not accept new political ads in the week before Election Day, and will remove posts that claim people will get Covid-19 if they take part in voting. Facebook will also add informational labels to any posts that seek to delegitimize election results. Tesla (TSLA) – The automaker's largest shareholder, investment management firm Baillie Gifford, has cut its stake in Tesla to less than 5% from 6.32%. Baillie Gifford said it took the action due to portfolio restrictions after the rapid runup in Tesla shares increased its overall percentage of the firm's holdings. Kansas City Southern (KSU) – Private-equity firms Blackstone (BX) and Global Infrastructure Partners have made a takeover o...
Fed Dials Up Inflation Target… Own Gold
Stock News

Fed Dials Up Inflation Target… Own Gold

Make no mistake, higher gold prices are coming. By pulling yet another arrow from its quiver, the Fed’s just helped move us closer to that target. The Fed wants inflation, so it’s going to get it. Problem is, we the people, will have to live with it. Fed Chair Jerome Powell told us last week they will let inflation run higher than “normal” to make up for stubbornly “below average” inflation for some time. It’s one more reason investors need to ensure they have exposure to real assets that provide protection from inflation. Of course there’s raw land and real estate, collectibles, and fine art. But these are typically illiquid, out of reach, or fully valued in many places the world over. Meanwhile, precious metals are arguably much closer to inflation-adjusted all-time lows, as I’ll s...
Page Industries slips 3% post Q1 results
Stock News

Page Industries slips 3% post Q1 results

Shares of Page Industries declined around 3 per cent in Thursday’s afternoon trade after the company reported a net loss of Rs 39.55 crore for the quarter ended June 30 and on reports that Speedo will probe possible human rights violations against the company. It had reported a profit of Rs 110.67 crore in the corresponding quarter last year. The scrip traded nearly 3 per cent down at Rs 19,106 at around 2.40 pm (IST), while the benchmark BSE Sensex traded 0.05 per cent lower at 39,065. Revenue of the company slipped 65.89 per cent YoY to Rs 284.80 crore. In a BSE filing, Page Industries said that June quarter witnessed the full impact of Covid-19 lockdowns. As of now, more than 80 per cent of its multi brand outlets, 96 per cent of EBOs and 90 per cent of large format stores are fully...
Your Guide to Fundamental Factors in Forex Trading
Forex

Your Guide to Fundamental Factors in Forex Trading

In our blog, we talk a lot about technical analysis, patterns, features and prominent opportunities. And there is a good reason for that: technical factors are of great help when it comes to short-term trading. However, fundamental factors are just as important, as they account for massive price swings. Today we are talking about fundamental factor and their practical application in trading. In the Forex market all currencies are traded in pairs. Each currency pair has the base currency (it comes first) and the quote currency (that comes second). To understand what is the right time to buy or sell a particular currency pair we will be using EUR/USD as an example. Here the EUR is the base currency and the USD is the quote currency. In other words, when buying the currency pair, you...