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IPO Quiet Period Expiration For Intellia Therapeutics Offers A Buying Opportunity
Intellia Therapeutics (NTLA) – Buy Recommendation – $30.25 On May 31, 2016, the quiet period for the Intellia Therapeutics, Inc. IPO will expire. At that time, the underwriters for the IPO will be allowed to issue reports and to make recommendations on June 1, 2016. Intellia Therapeutics is a gene-editing company that uses the CRISPR/Cas9 system in order to develop potential cures for a variety of disorders through gene therapy. It is likely that the shares of NTLA will experience at least a temporary increase following the release of the underwriter reports. We previously previewed the Intellia Therapeutics IPO on May 3, 2016. Im... -
Finance 0
Goldman Sees General Mills Being A Buyer As Opposed To Getting Bought
As the food industry’s tailwinds subside and challenges increase, Goldman Sachs analyst Jason English believes General Mills (GIS) and some of its peers may be more likely to buy growth than to be bought in the foreseeable future. English downgraded General Mills to Sell and trimmed his price target on the stock in a note to investor today. ACQUISITION MORE LIKELY THAN TAKEOVER: Goldman Sachs’ English downgraded General Mills to Sell from Neutral and lowered his price target on the shares to $58 from $59, saying that tailwinds for the food industry have begun to subside and that he is starting to see evidence of “mounting... -
Finance 0
E LIBOR Triple Damages Loom; Chart Shows How The Banks Won Bets
The biggest banks in the world are in real trouble. They may have won too much when they won their derivatives bets. At issue is whether these big banks manipulated the LIBOR rate downward, increasing the gap between the floating rate they bet on, and the fixed rate their counterparties bet on to protect against inflation. I have used the following chart many times to show the relationship between the fixed high rate and floating low rates that banks use. When the fixed rate drops below the floating rate the banks are compromised. They want the floating rate, designated by the red line, to always float below the blue line. The long simmering ... -
Finance 0
European Close Triggers Precious Metals Plunge
Because nothing says ‘fiduciary’ duty like waiting until Europe closes to dump $850 million notional of gold… To the tick 1130ET – when European stocks close – gold started to be dumped… And Silver…... -
Finance 0
E Three Exposures To Small Cap Gold With Varying Risk Profiles
TM Editor’s Note: This article discusses one or more penny stocks and/or microcaps. Such stocks are easily manipulated; do your own careful due diligence. If there’s one thing markets seem to agree on as we head into the close of the second quarter, it’s that precious metals are on the way up. Nobody is certain about what the Federal Reserve plans to do next in the US. There is no foreseeable letup of disappointing data out of both China and Europe. The UK could leave the EU near term, and the implications of this remain very much unclear. All this uncertainty translates to a risk-off sentiment, and risk-off sentiment fuels capi... -
Finance 0
Best Buy (BBY) Tops Q1 Earnings, Stock Down On Tepid View
Best Buy Company, Inc. (BBY – Analyst Report) reported first-quarter fiscal 2017 earnings per share of 44 cents that beat the Zacks Consensus Estimate of 35 cents. The company’s earnings also increased 19% year over year. Including one-time items and discontinued operations, quarterly earnings per share came in at 70 cents compared with 36 cents in the year-ago quarter. Revenues of $8,443 million also surpassed the Zacks Consensus Estimate of $8,330 million but dipped 1.3% year over year. Comparable-store sales (comps) were down 0.1% against a rise of 0.6% in the prior-year period. Adjusted gross profit displayed marginal year-over-ye... -
Finance 0
Millions Of Homeowners Could Refinance And Save Money: Why Don’t They?
According to Black Knight’s April “Mortgage Monitor” millions of homeowners could refinance their mortgages and save money. Yet, despite interest rates hovering near 3-year lows, prepayment speeds, historically a good indicator of refinance activity, fell in April. The April “Mortgage Monitor” builds on March analysis of refinance candidates. Here is the pertinent chart from last month. Refinance Candidates . Roughly 2.3 million people could refinance their mortgages and save money doing so. That assessment was based on an FHLMC Mortgage Rate of 3.58% on April 14. A quick check shows the rate is still 3.58% as of May 19. Apparentl... -
Finance 0
AutoZone’s (AZO) Q3 Earnings Miss Estimates, Rise Y/Y
AutoZone, Inc. (AZO – Analyst Report) is one of the nation’s leading specialty retailers of automotive replacement parts and accessories, operating in the Do-It-Yourself (“DIY”) retail, Do-It-for-Me (“DIFM”) commercial and other customer markets. The company is focused on increasing sales through store expansion and boosting earnings per share via an aggressive share repurchase program. However, AutoZone has been facing challenges in terms higher expenses related to opening new distribution centers and increasing the frequency of delivery to stores. Currency headwinds also pose a challenge. Estimate Trend & Surprise Histor... -
Finance 0
AdvisorShares Active ETF Market Share Update – Week Ending 5/20/2016
For a second week in a row, assets in actively managed ETFs had a very small gain, $72 million last week, which brings the total asset level up to $25.238 billion. There was one new fund launched last week, which brings the count up to 144. First Trust led the way with a $95 million net increase in AUM followed by $40 million at Guggenheim, while WisdomTree had a net decrease of $26 million. WBI had a similar $23 million contraction followed by $20 million from PIMCO. At the category level, Short Term Bond led inflows with $78 million followed by $27 million for High Yield. Foreign Bond dropped by $30 million and Tactical fell by $21 milli... -
Finance 0
Bulls Attempting To Take Control On Positive Technicals
The market is in a seasonally weak period, i.e., all the sell in May mantra, and this has created a number of bearish technical setups for the S&P 500 Index (SPY). I am not showing all of them; however, the bulls are making an effort to kill off the head and shoulder top pattern (dashed lines). This market action is creating two potential bull flag breakouts. The breakout is also resulting in the S&P 500 Index to trade above its 50 day moving average. Importantly, the larger bull flag pattern has occurred on a strong upside move off of the February low. The potential bull flag breakout has occurred on lower selling volume as well. Las...
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