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Silver jumps 15% for the month as gold logs highest settlement in over a year

Silver futures rallied Friday, tallying a gain of roughly 15% for the month, as gold futures settled at their highest level since late January of last year. The dollar-denominated metals got a solid boost from a weaker dollar. July silver rose 23.1 cents, or 1.3%, to settle at $17.819 an ounce. Gold for June delivery rose $24.10, or 1.9%, to finish at $1,290.50 an ounce, with prices up about 4.4% for the month, according to FactSet.

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Oil prices pare losses as U.S. oil-rig count falls a sixth week

Oil futures pared their loss after data from Baker Hughes showed that the number of active U.S. rigs drilling for crude fell by 11 to 332 as of Friday, down a sixth straight week. The total U.S. rig count fell 11 to 420. June crude was at $45.83 a barrel on the New York Mercantile Exchange, down 20 cents, or 0.4%. It was trading at $45.72 before the data.

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Move appoints first-ever chief data officer

Bringing with him an extensive background in data mining, research and analytics, Vineet Singh will fill the role of Move’s first chief data officer. Previously, Singh spent seven years at Intuit in various roles where he oversaw the company’s data science, data engineering, new business innovations and web research and analytics. …read more

From:: Real Estate Wire

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Paragon Shipping stock rockets 9-fold in two days

Paragon Shipping Inc.’s stock soared 38% to a seven-week high of $2.41 in midday trade Friday, with volume of 14.8 million shares already nearly 15-times the full-day average. But that’s nothing, as it rocketed nearly 7-fold on volume of 24.1 million shares on Thursday. The troubled Greece-based shipping company’s shares had closed Wednesday at a record low of 26 cents, and that was after a 1-for-38 reverse stock split went into effect March 1. The company said Thursday it filed a lawsuit against news site TradeWinds and reporter Joe Brady Stamford for defamation damages, following a Feb. 18 report that Paragon obtained board approval to file for bankruptcy. “The company and its board of directors declared that the above statement was totally untrue,” the company said in a statement. Separately, Paragon said Thursday it entered into an agreement with Jiangsu Yangzijiang Shipbuilding Co. to extend the deliveries of its three drybulk carriers through November; the Bank of Ireland said earlier this month that a payment-in-kind loan maturing December 2020 would be cancelled; and the company said it won’t make an interest payment due May 15 on a note maturing in 2021 “due to a lack of liquidity.” The stock was still down 60% year to date.

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PAVmed shares soar in second day of trading

Shares of PAVmed Inc., a medical device company, soared 49% Friday in the second day of trading for the company. The company debuted on the Nasdaq 15 minutes before the market close Thursday and the stock popped above its IPO issue price of $5 but pared gains to close around $8. With the IPO, PAVmed sold 1.06 million shares to raise $5.3 million.

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Valeant announces changes to board of directors; exits by Pearson and Schiller

Valeant Pharmaceuticals International Inc. announced several changes to the company’s board of directors early Friday, including that the company’s current chairman and chief executive officer, Michael Pearson, and the company’s former chief financial officer, Howard Schiller, would not be standing for re-election. Current board members Robert Ingram, the board’s chairman, and Robert Power would be re-nominated, Valeant said, as would five directors appointed in the last year, activist investor William Ackman, Dr. Frederic Eshelman, Stephen Fraidin, D. Robert Hale and Thomas W. Ross, Sr. Dr. Argeris N. Karabelas, Russel C. Robertson and Amy B. Wechsler, M.D. were three more director nominees. In addition to Pearson and Schiller’s exits, Valeant said five of the company’s current directors had said they wouldn’t stand for re-election: Ronald H. Farmer, Colleen Goggins, Theo Melas-Kyriazi, G. Mason Morfit and Norma A. Provencio.

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From:: Stock Market News