Today on Stockhouse
Your opinion matters. Submit an article to Stockhouse today at submissions@stockhouse.com. Submission guidelines can be found here
.David & Eric Coffin write about the "other" carry trade and what it means for gold.
This as Sy Harding believes the Federal Reserve's toughest job lies ahead.
Top Bullboards post: long34 posted “Whats the angle of the hole and what was the target? Any geology maps posted out there? Presentation by Doc shows the veining to be vertical. Hole the didnt drill a vertical hole. Anyone know what the RC holes returned that were drilled in April?? Lots of questions for Bernie Madoff here. Just concerned about the reporting leaving data out. Best of luck. PS Friday buyers91.7 million) most likely dumped a lot of shares today. Most were insiders on news that leaked no doubt.)”
Top Bullboard: The True North Gems (TSX: V.TGX, Stock Forum) board had the most posts on a day its stock surged 32%, while the Canasia Industries (TSX: V.CAJ, Stock Forum) forum received the most reads.
Top blog: jerrio78 looks at a micro cap that could have a pending medical breakthrough in the Bio-Techs SSS Leads the way blog.
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 encouraging to all investors when you see companies buy because basically what that says is they're in a more aggressive mode as opposed to being in the fetal position," said Mark Coffelt, portfolio manager at Empiric Funds, in an interview with Associated Press.
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Darden Restaurants (NYSE: DRI) |
Q1 |
$0.66 vs. $0.61 |
|
| Jabil Circuit (NYSE: JBL) |
Q4 |
$0.08 vs. $0.30 |
|
| Nike (NYSE: NKE) |
Q1 |
$0.97 vs. $1.03 |
|
| OMNOVA Solutions (NYSE: OMN) |
Q3 |
$0.11 vs. $0.07 |
|
| Walgreen Co. (NYSE: WAG) |
Q4 |
$0.39 vs. $0.45 |
|
Today In The Markets
Markets accentuate the positives
|
| DJIA |
9,789.36 |
+124.17 |
 |
|
| NASDAQ |
2,130.74 |
+39.82 |
|
|
| S&P500 |
1,062.98 |
+18.60 |
|
|
| S&P/TSX |
11,338.72 |
+126.33 |
|
|
| S&P/TSX Venture |
1,269.73 |
+10.09 |
|
|
Toronto & New York (Canadian Press) – The Toronto stock market closed higher Monday following three straight declines.
The S&P/TSX composite index gained 126.33 points to 11,338.72, recapturing about half of last week's decline that arose from doubts about the pace of the U.S. economic recovery.
New York markets also moved ahead amid major merger and acquisition news. Xerox Corp. is buying the business processing company Affiliated Computer Services for about US$5.75 billion while Abbott Laboratories said it would buy the pharmaceutical business of Belgian chemicals maker Solvay for US$6.6 billion.
The Dow Jones industrials jumped 124.17 points to 9,789.36, while the Nasdaq composite index climbed 39.82 points to 2,130.74 and the S&P 500 index gained 18.6 points to 1,062.98.
Please click here for the current U.S. and Canadian market summaries.
After-Hours News
Cal-Maine Foods (NASDAQ: CALM)
The egg supplier reported it lost money in its recent quarter, contrary to expectations. The company said it lost $3.8 million or 16 cents per share, against its year ago profit of $11.1 million or 47 cents per share. The loss also means that shareholders will not receive their special dividend payment – normally one third of company profits – this quarter.
Copper Fox (TSX: V.CUU)
The mineral exploration company announced late on Monday that it would raise $2 million in a private placement, which is 55% subscribed by an insider.