Today on Stockhouse
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Thom Calandra writes about Africa miners in the DRC that have seen their share prices catapult.
This asJohn Kaiser talks about gold stocks that might become 10 baggers in The Gold Report.
Top Bullboards post: “I would convert some of the GM stock into certificates. Who knows...years down the road GM stock certificates will fetch you $1,000 ++,” saysBUDDIEE on the General Motors (NYSE: GM) Bullboard.
Top Bullboard: Mercator Minerals (TSX: T.ML) was the second-most read forum Monday on a day its stock surged 12%.
Top blog:ntheno with a report about China’s appetite for Canadian nickel in NTHENOs KNOWS.
For news about small stocks that made big moves in Monday trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"It's remarkable the degree of resilience that the equity markets have shown," said Jack A. Ablin, chief investment officer at Harris Private Bank, in an interview with Associated Press. "We've had plant closings, we've had dealer shutdowns (due to the GM bankruptcy). I think the reverberations have already been felt."
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Applied Signal Technology (NASDAQ: APSG) |
Q2 |
$0.20 vs. $0.16 |
|
| hhgregg, Inc. (NYSE: HGG) |
Q4 |
$0.41 vs. $0.32 |
|
| United Natural Foods (NASDAQ: UNFI) |
Q3 |
$0.34 vs. $0.30 |
|
|
Today In The Markets
Stocks rally after positive economic data even as GM enters bankruptcy protection
|
| DJIA |
8,721.44 |
+221.11 |
 |
|
| NASDAQ |
1,828.68 |
+54.35 |
|
|
| S&P500 |
942.87 |
+23.73 |
|
|
| S&P/TSX |
10,604.06 |
+233.99 |
|
|
| S&P/TSX Venture |
1,140.55 |
+16.47 |
|
|
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TORONTO, NEW YORK (CP) - Stock markets charged ahead Monday economic data persuaded investors that the global economy is improving even as General Motors Corp. filed for bankruptcy protection.
Toronto's S&P/TSX composite index ran up 233.99 points to 10,604.06 continuing the spring rally which is almost three months old, led by higher energy stocks as oil approached US$70 a barrel. The TSX Venture Exchange climbed 16.47 points to 1,140.55.
New York's Dow Jones industrial average jumped 221.11 points to 8,721.44 as GM's filing was widely expected. The Nasdaq composite index gained 54.35 points to 1,828.68 while the S&P 500 index added 23.73 points to 942.87.
Please click here for the current U.S. and Canadian market summaries.
After-Hours News
Data Domain (NASDAQ: DDUP)
After Monday’s close, EMC Corporation proposed to acquire all of the outstanding common stock of Data Domain for $30 per share in cash, in a transaction with a total enterprise value of approximately $1.8 billion, net of Data Domain's cash. EMC's all-cash offer represents a 20% premium to the cash and stock offer made by NetApp for Data Domain on May 20, 2009.
Rusoro Mining (TSX: V.RML)
The junior miner, after Monday’s closing bell, reported record production of 39,503 ounces of gold during the first quarter of 2009 and announced net income of $0.5 million for the period and net income before income taxes and non-controlling interest of $2.0 million.
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