Performance of Metals and the Mining Sector on June 30
On Thursday, June 30, most of the companies related to base metals and precious metals gained due to stability in their respective sectors.
Gold and silver are among the top gainers out of all major asset classes in the first half of 2016, gaining ~25% and ~36%, respectively. On June 30, silver was trading at its highest level since September 2014.
After starting the week on a weak note, copper gained strength and posted gains for the fourth consecutive trading day.
Crude oil prices retreated on Thursday, June 30, from the highs created following a huge draw-down in the crude oil inventories. This weighed on the prices of crude oil–related companies.
After gaining for two straight trading days, crude oil prices retreated on Thursday, June 30. Crude oil prices had experienced their biggest one-day surge since April on June 29 following the crude oil inventory report release, which showed a huge draw-down.
Friday, June 24, was important as gold rose to a two-year high due to the additional haven bids in the wake of the UK’s Brexit referendum—before falling.
The precious metal market has soared in 2016, hitting multi-month highs. So it’s important for investors to know which mining stocks are overperforming.
As gold dropped on Tuesday, June 28, the US dollar as depicted by the DXY currency also witnessed a fall of 0.26%.
During the one month and three months prior to June 28, 2016, Verizon’s stock price movement was in the positive territory.
Verizon (VZ) will report its results for 2Q16 on July 26, 2016.
A key growth driver for Verizon’s (VZ) shrinking wireline component has been Fios.
Recently, Verizon 4G secured the top spot nationally in PCMag’s Fastest Mobile Networks 2016 report.
Wall Street analysts expect Verizon’s prepaid net losses to be ~0.12 million in 2Q16.
In the last part of this series, we learned about the expected growth for Verizon’s (VZ) postpaid customers in 2Q16.
Verizon (VZ) had the largest wireless postpaid customer base in the US as of the end of 1Q16.
Growth in Verizon’s wireless equipment revenue continued to contract on a sequential basis in 1Q16.
In 2Q15 and 1Q16, Verizon’s revenue was less than Wall Street analysts expected.
Verizon (VZ) will report its results for 2Q16 on July 26, 2016. Wall Street expects that its earnings growth trend will reverse in quarter.
Since 2011, Akorn (AKRX) has focused on acquisitions that either expand the company’s core capabilities or increase its geographic market access.
Among 17 brokerage firms, a Bloomberg survey reported that 75.0% of analysts gave Akorn a “buy” recommendation, while 25.0% issued “hold” recommendations.