The Asian Development Bank (ADB) has approved a $410 million financing package to support the development of Pakistan’s Reko Diq copper and gold mine in Balochistan, one of the world’s largest untapped mineral deposits, set to be operated by Barrick Gold.
According to a report by Reuters, the project, estimated at $6.6 billion, could become a catalyst for attracting more foreign investment into Pakistan’s mineral sector, including rare earth exploration. Islamabad has already drawn interest from the U.S., offering concessions to American firms for future ventures.
Under the financing arrangement, Barrick will receive two loans totaling $300 million, while the remaining $110 million will be provided as a financing guarantee to the Government of Pakistan.
Reko Diq, jointly owned by Barrick (50 percent) and the federal and provincial governments (50 percent), is expected to begin production in 2028, with projected lifetime free cash flows of nearly $70 billion.
The government has taken control of the UK’s third-largest steelworks as ministers try to protect 1,450 jobs after Liberty Steel’s operations in South Yorkshire were put into administration.
The high court in London said on Thursday that Speciality Steel UK (SSUK), which has plants in Rotherham and Stocksbridge, would be wound up, despite the company’s request for more time to find new financial backers.
The company, previously part of the metals tycoon Sanjeev Gupta’s Liberty Steel group, was put under the control the government’s official receiver who appointed special managers from the advisory firm Teneo to run it.
The judge, Mr Justice Mellor, said there was too much uncertainty over whether Gupta could come up with funding. “It is quite clear that there are special managers lined up who have the support of the government,” he said. “I consider by far the preferable approach is to make a winding-up order.”
The steelworks and its workers have been described by the business minister, Jonathan Reynolds, as important strategic assets for the UK.
The government has said it has received approaches from “independent third parties who have expressed an interest in returning some or all of the sites to steelmaking”, according to a letter from the Department for Business and Trade entered in court.
It also indicated that it hoped for a buyer who would restart production at Rotherham, where no products have been made for a year.
The development marks the second government intervention in the steel industry this year, after ministers took control of British Steel’s Scunthorpe plant, fearing that its Chinese owners would let the blast furnaces cool beyond repair.
Unions said the government needed to protect the company. Charlotte Brumpton-Childs, national officer for the GMB union, said: “This is another tragedy for UK steel – and the people of South Yorkshire – this time brought on by years of chronic mismanagement by the owners.
“But this represents an opportunity for the UK government to take decisive action, as it did with British Steel, to protect this vital UK industry.”
Indian-born Gupta was once known as the “saviour of steel” for his plans to turn around struggling operations. From a business founded as a student at the University of Cambridge he built up a collection of assets spanning the UK, eastern Europe and Australia.
However, he had been scrambling to find new financing for his businesses since the collapse in 2021 of Greensill Capital, which had lent his Gupta Family Group (GFG) Alliance business about $4.5bn (£3.3bn). Administrators for Greensill are trying to recover that money on behalf of creditors, including the US lender Citibank, which is owed £233m.
GFG Alliance has also been under investigation by the UK’s Serious Fraud Office since 2021 over allegations of “fraud, fraudulent trading and money laundering in relation to the financing and conduct of the business”, including in relation to Greensill.
Gupta, who is based in the United Arab Emirates, had already lost control of businesses in the UK, Europe, Singapore and Australia. However, SSUK is his key metals asset in the UK, where he also bought two large country estates.
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Jeffrey Kabel, Liberty Steel’s chief transformation officer, said Gupta was in Sydney, managing GFG’s remaining Australian business. He said the case had left Gupta “sad, because he’s put a lot into this”.
Outside the courtroom after the judgment Kabel said he was “extremely disappointed”. “We are by far the best company to run this business. We’ve run this company for 10 years. We’ve put a lot of blood, sweat, huge amount of money into it.”
Kabel said Liberty will continue to operate the rest of its UK businesses, including a plate mill and aluminium smelter in Scotland, plus a pipe mill in Hartlepool.
The special managers will seek to keep the business operating, with temporary government funding, before trying to find a buyer which will cover those costs. Kabel raised the prospect of Gupta trying to mount a bid to buy back the business from the special managers, although it was unclear whether he would be able to secure financing.
Gupta’s lawyers had pushed for him to be allowed another month to try to pursue a “pre-pack” administration of the business, which would have enabled him to buy it out of insolvency while reducing its debts. The pre-pack administration was prepared by the insolvency consultancy Begbies Traynor and would have been funded by BlackRock, the world’s largest investment manager.
A government spokesperson said: “We know this will be a deeply worrying time for staff and their families, but we remain committed to a bright and sustainable future for steelmaking and steelmaking jobs in the UK.
“It is now for the independent official receiver to carry out their duties as liquidator, including ensuring employees are paid, while we also make sure staff and local communities are supported.”
Breadth isn’t keeping up with the S & P 500 ‘s rally to record levels this summer, according to LPL Financial. About 65% of stocks in the S & P 500 index are currently trading above their 200-day moving average, which is commonly used as a measure of longer-term performance trends. That’s below the average of 74% seen when the benchmark average itself is within 3% of all-time highs, according to data from Adam Turnquist, LPL’s chief technical strategist. “Historically, most of the time, breadth was higher than now when the market was in record-high territory,” Turnquist told clients in a recent note. That might spell bad news for investors, given that market rallies are considered more durable when breadth is widening, Turnquist said. .SPX YTD mountain S & P 500 in 2025 This comes as the S & P 500 has faced a choppy August and looks headed Thursday for a fifth straight decline. The broad market index is still up more than 8% in 2025. “Diverging market breadth can persist for meaningful periods, especially in today’s mega-cap-oriented market,” Turnquist wrote to clients. “However, continued negative deviations between price and breadth point to concentration risk and potential structural weakness that could be exposed if/when the broader market breaks below key support levels.” While breadth — which measures the degree of participation in the summer rally — isn’t up to historical standards, Turnquist acknowledged that it’s showing signs of improvement. He noted that the share of S & P 500 stocks above the 200-day average has surged from just 19% earlier this year.
Fifty-two-week data show that efficacy was maintained in patients with rheumatoid arthritis (RA) when switching from reference tocilizumab (Actemra; Genentech) to tocilizumab-anoh (Avtozma, CT-P47; Celltrion, Inc.), a biosimilar. Additionally, the data—which were published by study investigators in Clinical Drug Investigation—also demonstrated comparable pharmacokinetics, safety, and immunogenicity between the biosimilar and its reference product.1
Image credit: yodiyim | stock.adobe.com
About the Trial
Trial Name: A Study to Compare Efficacy and Safety of CT-P47 and RoActemra in Patients With Rheumatoid Arthritis
ClinicalTrials.gov ID: NCT05489224
Sponsor: Celltrion
Completion Date: November 23, 2023
Tocilizumab is a biologic medication that is FDA-approved to treat adults with moderate to severe RA, giant cell arteritis, interstitial lung disease–complicated systemic sclerosis, juvenile idiopathic arthritis, and other inflammatory-based symptoms. The treatment is administered either as a subcutaneous injection or an intravenous (IV) infusion. When administered as an injection, it can be given every week or every other week either in the abdomen or thigh, whereas the IV infusion is given once every 4 weeks. The American College of Rheumatology notes that tocilizumab may be taken alone or with other medications; however, it is not recommended to be used with other biologic medications.2
Because it is a biosimilar, Avtozma is highly similar and does not have any clinically meaningful differences in efficacy, safety, pharmacokinetics, and immunogenicity compared with its reference product. It is a recombinant humanized monoclonal antibody that acts as an IL-6 receptor antagonist.3 In addition to its previous FDA-approved indications, IV Avtozma was recently approved for the treatment of cytokine release syndrome in both pediatric and adult patients aged 2 years and older.4
To further demonstrate IV Avtozma’s efficacy, safety, immunogenicity, and pharmacokinetics in patients with moderate to severe RA, investigators initiated a randomized, double-blind, multicenter, phase 3 clinical trial (NCT05489224).5 For this study, 444 patients with RA were randomly assigned to receive Avtozma or Actemra every 4 weeks (8 mg/kg IV) up to week 20. At the 24-week period, patients receiving Avtozma continued maintenance treatment, whereas those on the reference product were randomly assigned again to continue the reference product or switch to its biosimilar as maintenance until week 48 (treatment period 2). Following week 48, patients were followed up until week 52.1,5
During treatment period 2, 225 patients continued receiving the Avtozma, 109 continued receiving Actemra, and the remaining 110 switched from the reference to the biosimilar. The investigators reported that, during this treatment period, efficacy findings were comparable between the groups. By week 52, the mean changes from baseline in Disease Activity Score in 28 joints-erythrocyte sedimentation rates (DAS28-ESR; the primary end point) were about –4.279, –4.231, and –4.376 in the Avtozma maintenance, Actemra maintenance, and Avtozma switched groups, respectively. Notably, joint damage progression over 1 year was minimal in all 3 groups, and drug serum concentrations were considered relatively consistent throughout the duration of treatment period 2. The safety profile and antidrug antibody-positive conversion rate (less than 5% in each group) were also similar.1
These findings are consistent with previous 32-week findings, which had also shown efficacy equivalence, comparable pharmacokinetics, safety, and immunogenicity profiles between the biosimilar and its reference product. Similar to the 52-week findings, these data also showed high similarities between the 3 groups.6
“DAS28-ESR may not be the most appropriate tool for assessing agents that target the IL-6 pathway, given that these therapies can reduce ESR independently of clinical improvement; however, this is not a significant limitation, as tocilizumab was used in all 3 treatment groups in this study,” the study authors wrote. “With respect to the study design limitations during [treatment period 2], the numbers of patients in the [Actemra] maintenance and [Avtozma] switched groups were lower than in the [Avtozma] maintenance group because of the second randomization. [Treatment period 2] of this study was not designed for statistical comparisons of equivalence between the [Avtozma] and [Actemra] maintenance groups and the [Avtozma] switched group; however, the results from [treatment period 2] in this study provide valuable data on switching from a reference product to a biosimilar.”1
REFERENCES
1. Burmester G, Trefler J, Racewicz, A, et al. Efficacy and Safety of Biosimilar CT-P47 Versus Reference Tocilizumab: 1-Year Results of a Randomised, Active-Controlled, Double-Blind, Phase III Study in Patients with Rheumatoid Arthritis. Clin Drug Investig45, 551–563 (2025). doi:10.1007/s40261-025-01453-8
2. American College of Rheumatology. Tocilizumab (Actemra). Accessed August 19, 2025. https://rheumatology.org/patients/tocilizumab-actemra
3. Gallagher A. FDA Approves Tocilizumab-Anoh as a Biosimilar to Actemra. Pharmacy Times. January 31, 2025. Accessed August 20, 2025. https://www.pharmacytimes.com/view/fda-approves-tocilizumab-anoh-as-a-biosimilar-to-actemra
4. Ferruggia K. FDA Approves Expanded Indication to Tocilizumab-Anoh IV for CRS. Pharmacy Times. August 6, 2025. August 20, 2025. https://www.pharmacytimes.com/view/fda-approves-expanded-indication-to-tocilizumab-anoh-iv-for-crs
5. A Study to Compare Efficacy and Safety of CT-P47 and RoActemra in Patients With Rheumatoid Arthritis. ClinicalTrials.gov identifier: NCT05489224. Updated October 8, 2024. Accessed August 19, 2025. https://clinicaltrials.gov/study/NCT05489224
6. Smolen JS, Trefler J, Racewicz A, et al. Efficacy and safety of CT-P47 versus reference tocilizumab: 32-week results of a randomised, active-controlled, double-blind, phase III study in patients with rheumatoid arthritis, including 8 weeks of switching data from reference tocilizumab to CT-P47. RMD Open. 2024;10:e004514. doi:10.1136/rmdopen-2024-004514
Refinery workers rallied outside the refinery in North East Lincolnshire on Thursday
Workers have staged a rally outside an oil refinery in North Lincolnshire and renewed their call for the government to secure the future of the site.
Lindsey Oil Refinery in North Killingholme was taken over by liquidators in June after the owner Prax Group went into administration, putting 420 jobs at risk.
Speaking at the rally, control room operator Bradley Pexman said it would be “nothing short of a disaster” if the site closed.
The Department for Energy Security and Net Zero (DESNZ) said it was “working closely with unions to ensure workers are supported”.
Earlier this month, Martin Vickers, MP for Brigg and Immingham, and North Lincolnshire Council leader Rob Waltham said there was a potential buyer to retain the site and continue running the refinery, but added they could not disclose details of the interested party.
Bradley Pexman said he found out the refinery was closing through the news
Mr Pexman, who started as an apprentice at the site seven years ago, said: “We are being dangled on the end of a line waiting for good news, hanging on to a little bit of hope that we’ve got.
“I saw my career being here at the refinery. We’re expecting [a baby] in December this year, so it would be nice to have a job.”
Sandra Friel, 65, is a vending operative at the refinery. She said her colleagues were “sad” and “desperate”.
“They’re all walking about with their heads down. There’s no laughter on site any more,” she added.
Sandra Friel said she felt “sad and mad” because the workers “don’t get told anything”
Unite general secretary Sharon Graham said the oil refinery provided 10% of the UK’s fuel supply and was crucial to the regional economy.
The refinery’s owner went into administration after recording losses of about £75m over the course of three years.
A Department for Energy Security and Net Zero spokesperson said: “The Official Receiver has welcomed bids since taking over safe running of the site six weeks ago, and will consider if any bids for a partial sale of the site or its assets are credible.
“We will also fund a Training Guarantee for refinery workers, to ensure they have the skills they need and are supported to find jobs in the growing clean energy workforce.”
Tube workers are to stage a series of strikes next month in a dispute over pay and conditions amid an intensifying dispute with managers.
The Rail, Maritime and Transport union (RMT) said its members would take industrial action for seven days from 5 September amid a dispute over pay and workload, among other things.
In a separate dispute, RMT members on London’s Docklands Light Railway will also be striking in the week beginning 7 September.
London Underground (LU) workers and management have been discussing workers’ demands on pay, fatigue management, shift patterns and a reduced working week. But union leaders have claimed management have refused to engage seriously.
“Our members are doing a fantastic job to keep our capital moving and work strenuous shift patterns to make sure Londoners get to their destinations around the clock,” said the RMT’s general secretary, Eddie Dempsey.
“They are not after a king’s ransom, but fatigue and extreme shift rotations are serious issues impacting on our members’ health and wellbeing – all of which have not been adequately addressed for years by LU management.
“Coupled with the fact there are outstanding issues around staff travel arrangements, an atmosphere of distrust has been created, where our members feel like no one is listening to them.
“RMT will continue to engage LU management with a view to seeking a revised offer in order to reach a negotiated settlement.”
Docklands Light Railway workers have also been in discussions about pay and conditions.
A Transport for London spokesperson said: “We regularly meet with our trade unions to discuss any concerns that they may have, and we recently met with the RMT to discuss some specific points.
“We are committed to ensuring our colleagues are treated fairly and, as well as offering a 3.4% pay increase in our ongoing pay discussions, we have made progress on a number of commitments we have made previously.
“We welcome further engagement with our unions about fatigue and rostering across London Underground, but a reduction in the contractual 35-hour working week is neither practical nor affordable.
“Given the improvements we have recently put in place in response to concerns raised by our unions, we urge the RMT to put our fair, affordable pay offer to their members and to continue to engage with us rather than threaten strike action, which will only disrupt Londoners.”
Sydney, Australia, August 21, 2025 – Cognizant (Nasdaq: CTSH) today announced a five-year strategic engagement with Temenos, a global banking technology leader, to develop and market Temenos Country Model Bank in Australia. Temenos Country Model Bank is an extension of its core banking platform designed to accelerate go-live for financial institutions by providing pre-configured, regionalized banking functionality that reduces cost and risk.
Australian financial institutions face increasing regulatory complexities and legacy system inefficiencies that limit agility. By leveraging Temenos’ cloud-native banking solutions and Cognizant’s implementation and market expertise, the Temenos Country Model Bank provides pre-configured frameworks designed to accelerate modernization while reducing costs and operational friction. As the preferred upgrade partner for Australia, Cognizant aims to further develop the regionalized functionality of the Country Model Bank, tailoring the core banking platform to meet the needs of Australian financial institutions.
“We are delighted to collaborate with Cognizant, strengthening our commitment to delivering agile and future-ready banking solutions in Australia,” said Will Dale, Managing Director – APAC, Temenos. “Together, we are driving digital transformation that enhances efficiency and scalability for financial institutions.”
Key highlights of strategic engagement:
Cloud-Native Banking Modernization: Cloud migration designed to enhance security, scalability, and performance for Australian banks. Near seamless platform updates reduce downtime and improve banking reliability.
Comprehensive Temenos Software Delivery: Cognizant delivers end-to-end implementations, providing consulting, integration, upgrades, maintenance, and support. Leveraging its deep expertise across Temenos Core, Digital, Payments, Financial Crime Management, and Wealth Management solutions, Cognizant aims to drive efficient transformation.
Market-Ready Core Banking Solutions: Pre-configured framework helps support banks to meet Australian financial industry requirements, reducing complexity. Cost-effective, streamlined banking modernization solutions help minimize operational burdens while enhancing financial accuracy.
Archana Ramanakumar, Global Head of Industry Solutions at Cognizant, emphasized the strategic significance of this initiative, reinforcing over 15 years of global partnership with Temenos. She said, “We are thrilled to expand our collaboration with Temenos to advance our shared commitment to this very strategic market. Together, Cognizant and Temenos will bring decades of global expertise, insights from leading core modernization programs, and industry-proven methodology to the Australian financial services sector, helping enable financial institutions to achieve their target digital operating model. This will be a true game-changer for Australian financial institutions that are on their digital transformation journey, delivering a pre-integrated, market-ready solution that aims to significantly reduce risk in core modernization initiatives.”
“The expansion of our strategic engagement with Temenos is set to accelerate banking innovation in Australia, integrating emerging technologies into core banking operations,” said Rob Marchiori, Australia Country Manager at Cognizant. “Not only will this relationship add value for existing Temenos clients through product innovation and engineering, it is also expected to create new opportunities aligning with our strategic priority of building our banking solutions and portfolio in Australia.”
About Cognizant: Cognizant (Nasdaq: CTSH)engineers modern businesses. We help our clients modernize technology, reimagine processes, and transform experiences so they can stay ahead in our fast-changing world. Together, we’re improving everyday life. See how at or @cognizant.
About Temenos: Temenos (SIX: TEMN) is a global leader in banking technology. Through our market-leading core banking suite and best-in-class modular solutions, we are modernizing the banking industry. Banks of all sizes utilize our adaptable technology – on-premises, in the cloud, or as SaaS – to deliver next-generation services and AI-enhanced experiences that elevate banking for their customers. Our mission is to create a world where people can live their best financial lives.
A child looks at a Pokémon promotion outside a McDonald’s store in Japan
McDonald’s Japan has postponed a child’s menu toy promotion after complaints that a recent Pokémon giveaway led to piles of food being dumped, with the cards then being sold on for profit.
The fast-food giant said on Thursday that its collaboration with the popular pirate-themed manga title “One Piece” would now not run.
Earlier this month, the McDonald’s giveaway of limited-edition Pokémon cards with its “Happy Set” meals led to long queues and bulk-buying.
Pictures shared online showed bags of food dumped on the street and complaints that the cards were being sold online for profit. The giveaway was planned to last for three days, but many outlets ran out of cards on the first.
In a statement on its website, McDonald’s Japan said that it had “postponed” the One Piece promotion, which was due to start on 29 August, as part of a “review of Happy Set-related initiatives”.
Customers would now receive toys that accompanied previous Happy Set meals instead, the company said.
Japan’s Consumer Affairs Agency has told McDonald’s it must improve its sales strategy and take steps to improve food wastage.
One Piece is a long-running series of comics and an animated programme, in which a pirate boy battles rivals while searching for treasure known as “One Piece”. The comics were launched in 1997, with the animated series coming two years later.
Several related games and toys are hugely popular in Japan.
AFP via Getty Images
One Piece is a popular Manga-style card game in Japan
McDonald’s has had similar problems with other campaigns in the past, including a collaboration with the “Chiikawa” manga series that was also targeted by online resales.
After the Pokémon debacle, McDonald’s Japan issued a public apology and pledged to take steps to prevent similar issues in the future.
Pokémon cards are extremely popular among children but also attract adult fans and collectors, with billions printed and some selling for tens and even hundreds of thousands of dollars.
One of the cards from the recent promotion, featuring the popular character Pikachu, is currently listed on one online auction site for over £25,000 ($33,000).
Last week, McDonald’s told local media it was reviewing its giveaways after the Pokémon campaign led to “large-scale purchases for the purpose of reselling, which resulted in store congestion or food being left behind and discarded”.
It said it was discontinuing the promotion and would be imposing a cap on the numbers of Happy Set meals that could be bought by customers.
The UK’s third-largest steelworks has been placed under government control, creating an uncertain future for nearly 1,500 workers in Rotherham and Sheffield.
Insolvency courts granted a compulsory winding up order sought by creditors owed hundreds of millions of pounds by Speciality Steels UK (SSUK) – part of the Liberty Steel metals empire of controversial tycoon Sanjeev Gupta.
The company will now be placed in the hands of the Official Receiver and special managers from consultancy firm Teneo, which has been appointed to run it on behalf of the liquidator.
The government has agreed to cover the ongoing wages and costs of the plant while a buyer for is sought.
Liberty Steel said the decision to put the firm into compulsory liquidation was “irrational”.
Chief transformation officer Jeffrey Kabel said the move would “impose prolonged uncertainty and significant costs on UK taxpayers for settlements and related expenses, despite the availability of a commercial solution”.
Lawyers for Mr Gupta had applied for a four-week adjournment to allow time to place the company in a “pre-pack administration”, which allows an insolvent company to sell its assets to a bidder.
He wanted funding from investment giant BlackRock and Fidera, which invests in distressed companies, to buy back the business.
Winding up the company, his lawyers argued, could place the business in “free fall” and incur significant disruption, cost and risk to a nationally important steel company and its 1,500 workers.
The judge found the company was “hopelessly insolvent” with £600,000 in the bank, a monthly wage bill of £3.7m, supported by a parent group that has 15 entities in insolvency proceedings across nine jurisdictions.
(This is The Best Stocks in the Market , brought to you by Josh Brown and Sean Russo of Ritholtz Wealth Management.) Josh — You’ve heard of “Dividend Aristocrats,” the small group of publicly traded companies in the S & P 500 that have raised their dividend for 25 consecutive years. There are only 69 of these in the index right now. What you may not have heard about are the “Dividend Kings.” These are stocks that have raised their dividend for over 50 consecutive years. This is extremely rarified air. There are just 55 Dividend Kings, and most of them are Midwestern industrial companies. Today we’re going to shine the spotlight on one of them. Sean, take it away… Best Stock Spotlight: Illinois Tool Works, Inc. (ITW) On the list since: 8/13/2025 Sean — We’ve been spending a lot of time discussing AI, semiconductors and other growth-oriented stocks since those have been leading the market lately. However, there is some rotation going on underneath the surface. Over the past month, value and shareholder yield have been the best performing factors: Illinois Tool Works was recently added to the list, and the chart looks promising: This is very clearly a value stock. ITW is an industrial that makes engineered components, equipment and consumables used in everyday products and industrial applications. Its businesses span automotive parts, packaging, food equipment, welding and construction. ITW’s recent positive performance is partially due to better-than-expected earnings reported in July. ITW beat on the top and bottom lines, operating margin improved 10bps year-over-year to 26.3%. The company also spent $375 million of its $449 million in free cash flow on share repurchases. More importantly, management raised its full-year earnings outlook and maintained its revenue guidance. The stock trades at a 23x trailing PE, cheaper than its industry average and in line with the company’s 10 year historical median PE. ITW expects 3% year-over-year revenue growth next quarter and 2.5% year over year EPS growth. ITW stands out as a high-quality value play in a market quietly shifting out of growth names thus far in August. With diversified end markets, margin expansion, strong free cash flow deployment and raised guidance, the company is delivering at a reasonable valuation versus history and peers, which will bode well if we get a short term swing out of growth and momentum. Risk management Josh — It’s not perfect, but ITW is in the process of breaking out of what’s known as a symmetrical triangle. This could also be interpreted as an ascending triangle, depending on how liberal the trader wants to be with the highs in the chart. And ascending triangles are bullish. Think about the psychology among the buyers and sellers of the stock. As the price drops, the buyers are coming in at higher and higher lows to snap up more shares. Eventually, the price hits a decision point as we’re seeing in ITW now. Does it break higher or lower? We’re about to find out which way it’s going to break, but the higher lows we’ve been seeing to form the lower trendline of the ascending triangle are favoring the longs. Too early to tell, but I like it. In either case, you’re on the verge of a moving average crossover with the 50-day breaking above the 200-day this week. Purists will want to await a “true” breakout above $280 before taking this trade. More aggressive traders might want to anticipate and buy the golden cross. In either case, should ITW be able to clear the overhead resistance dating back to last fall, the stock should work. The $240 level served as support all summer long. I like that for a stop loss. Remember – traders rarely stick around long enough to collect the yields of the Aristocrats and Kings, so you may want to think about this one as more of a long-term dividend holding too. DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL’S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC” TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.
