Gold Prices Rise On Trade Woes, Brexit Uncertainty

Gold prices inched higher on Tuesday, as the prospect of more Brexit-related market turmoil as well as uncertainty surrounding the much-awaited trade talks between the U.S. and China sapped demand for riskier assets.

Spot gold rose 0.15 percent to $1,531.71 per ounce, after hitting as high as $1,554.56 last week, the highest level since April 2013. U.S. gold futures were up 0.7 percent at $1,540.35 an ounce.

The British pound flirted with 2 1/2-year lows after British Prime Minister Boris Johnson threatened to call a snap election to push through Brexit.

Lawmakers will vote today on a plan that would give MPs, who are opposed to the prime minister’s Brexit strategy, control of the parliamentary agenda.

On the trade front, China has approached the World Trade Organization after the Trump administration levied an extra 15 percent tariff on $300 billion worth of Chinese imports from Sept. 1.

China will “firmly safeguard its own legitimate rights and interests and resolutely uphold the multilateral trading system as well as the international trade order in line with WTO rules,” the Chinese Ministry of Commerce said.

Ardelyx: AMPLIFY Study Meets Primary, All Key Secondary Endpoints – Quick Facts

Ardelyx, Inc. (ARDX) said a phase 3 study showed a statistically significant reduction in serum phosphorus levels for patients treated with tenapanor and phosphate binders compared to phosphate binders alone. The AMPLIFY study was carried out in patients with chronic kidney disease on dialysis whose hyperphosphatemia was not previously controlled with binders alone.

Mike Raab, CEO of Ardelyx, said: “We look forward to reporting results from our second Phase 3 monotherapy study, PHREEDOM, in the fourth quarter of this year. With additional positive results from that trial, we will complete our New Drug Application for tenapanor, encompassing two indications: monotherapy and combination therapy for the treatment of hyperphosphatemia.”

Shares of Ardelyx were up 13 percent in pre-market trade on Tuesday.

Amazon stock price target boosted to a Street-high $2,600 at RBC Capital

Amazon.com Inc.’s AMZN, -0.57% stock price target was raised to a Street-high $2,600 from $2,250 by RBC Capital analyst Mark Mahaney, following his "deep-dive" analysis into the e-commerce giant’s new Prime One-Day Shipping initiative. Amazon’s stock slipped 0.2% in premarket trading. The new target is 46% above Friday’s stock closing price of $1,776.29, is 13.5% above the average target of the 47 Wall Street analysts surveyed by FactSet of $2,291.39 and above the previous Street high of $2,573.40 of First Shanghai’s Qian Li. Mahaney, who reiterated his outperform rating, said he believes Amazon plans to roll out One-day Prime across the U.S. within one year, and globally within two-to-three years, which he expects will generate accelerating revenue and unit growth. "Our 7-year survey on Online Retail indicates that a very high and rising 64% of U.S. internet users are ‘Extremely’ or ‘very interested’ in next-day shipping," Mahaney wrote in a note to clients. "So [Amazon] is tapping into real demand here. Makes One-Day a True GCI [Growth Curve Initiative)." Amazon shares have rallied 18.3% year to date through Friday, while the Nasdaq Composite COMP, -0.13% has run up 20.0% and the Dow Jones Industrial Average DJIA, +0.16% has advanced 13.2%.

NAPCO Security Technologies Inc. Earnings Rise In Q4

NAPCO Security Technologies Inc. (NSSC) announced earnings for its fourth quarter that increased from the same period last year.

The company’s profit totaled $4.73 million, or $0.26 per share. This compares with $3.70 million, or $0.20 per share, in last year’s fourth quarter.

Analysts had expected the company to earn $0.26 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 8.5% to $29.58 million from $27.26 million last year.

NAPCO Security Technologies Inc. earnings at a glance:

-Earnings (Q4): $4.73 Mln. vs. $3.70 Mln. last year.
-EPS (Q4): $0.26 vs. $0.20 last year.
-Analysts Estimate: $0.26
-Revenue (Q4): $29.58 Mln vs. $27.26 Mln last year.

5 displaced after house fire in Shelburne, N.S.

At least five people have been displaced after a house fire in Shelburne, N.S., on Labour Day.

The Canadian Red Cross says there were no injuries from the fire.

A couple and three children from one unit of the duplex are staying with relatives and getting help from Canadian Red Cross volunteers with emergency purchases, including clothing and food.

The Canadian Red Cross has no information about the fire’s impact on the occupants of the other unit, although they say that similar support will be offered if needed.

Maruti Suzuki XL6 first test drive and review

The XL6, to put it simply, is a more premium iteration of the Ertiga, and Maruti has done quite a bit to give the car its own identity. It’s more rugged in looks, so to speak, with generous amounts of cladding to go around. What also adds some distinction to the XL6 is its redone front end, with a raised bonnet line, larger grille and unique-to-the-model full-LED headlamps, giving it a more of a crossover look.

On the inside, the XL6 feels like the premium Ertiga it is. Sure, the dashboard and even the dials are carried over from the Ertiga, but the XL6’s all-black interior theme does give it a more upmarket look. The faux black ash wood finish, leatherette upholstered seats, and even the knitted roof lining are other elements that uplift the experience. Front seat comfort is good even if the leatherette seats are slightly firmer than the Ertiga’s fabric seats.

Priced from ₹9.8-11.46 lakh (ex-showroom, Delhi), the XL6 range starts where the Ertiga range tops off. The petrol-manual XL6 Zeta costs about ₹20,000 more than the comparable top-spec Ertiga ZXi+, which makes it a fairly good deal. The petrol-manual Alpha trim (₹10.9 lakh) is a touch pricey, and there’s a significant premium to pay for the autos (₹10.36-11.46 lakh) too. That said, with the majority of Ertiga sales concentrated at the top-end, Maruti shouldn’t find it too hard to convince buyers to upgrade to the XL6.