Today on Stockhouse
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Sy Harding dissects the importance of the October jobs report.
And, Matt Badiali of Growth Stock Wire offers a simple strategy for 3,000% gains in junior mining.
Top Bullboards post: “The mining minister [of Ecuador] was actually at PDAC [in March] and Mr Washer [President and CEO] invited me to a meeting to hear him speak,” noted bailey2 on the Dynasty Metals and Mining Bullboard. “I did not go due to time constraints, however I am told that It was all very positive. You have to understand that this is a country with no mining infrastructure and it's a matter of tripping over their own feet until they get it right. Speaking to management a few months ago, they were also very frustrated, but through it all they have never stopped working. This has come right from Mr Washer to myself. They will in the end be rewarded for their wait and thus all the shareholders. The value of the gold in the ground per ounce is being priced absurdly low. It's almost a joke.”
Top Bullboard: Potash company Allana Resources (TSX: V.AAA, Stock Forum) was the most-posted to Bullboard, closely followed by Noveko Interenational (TSX: T.EKO , Stock Forum), the supplier of masks and hand sanitizers.
Top blog: littleguy123 tackles the debate of whether or not gold is in a bubble in his Outside the Market blog.
For news about small stocks that made big moves in Monday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"There's cheap money that's going to be pumping its way into the system," said Brian Battle, vice president of trading at Performance Trust Capital Partners, in an interview with Associated Press. "That money is finding is home in the currency and commodity markets."
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Bob Evans Farms (NASDAQ: BOBE) |
Q2 |
$0.48 vs. $0.35 |
|
| Consolidated Water (NASDAQ: CWCO) |
Q3 |
$0.18 vs. $0.12 |
|
| GeoEye (NASDAQ: GEOY) |
Q3 |
$0.44 vs. $0.18 |
|
| Qiagen NV (NASDAQ: QGEN) |
Q3 |
$0.23 vs. $0.21 |
|
| Randgold Resources (NASDAQ: GOLD) |
Q3 |
$0.22 vs. $ - 0.02 |
|
| Selected expected Canadian earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Pan American Silver (TSX: T.PAA) |
Q3 |
US$0.21 vs. $0.11 |
|
Today In The Markets
Weak US dollar lifts commodities
|
| DJIA |
10,226.94 |
+203.52 |
 |
|
| NASDAQ |
2,154.06 |
+41.62 |
|
|
| S&P500 |
1,093.08 |
+23.78 |
|
|
| S&P/TSX |
11,486.88 |
+236.46 |
|
|
| S&P/TSX Venture |
1,355.48 |
+14.86 |
|
|
Toronto & New York (The Canadian Press) - The Toronto stock market surged about two per cent mid-afternoon Monday, spearheaded by rising commodity stocks as U.S. dollar weakness helped boost prices for oil and metals.
The S&P/TSX composite index jumped 219 points to 11,469.4 after rising about three per cent last week despite employment reports from Canada and the United States on Friday that came in much worse than expected.
New York markets also advanced as investors took in major acquisition news from the food industry as Kraft Foods made a cash and stock offer worth US$16.46 billion for Cadbury Inc. Cadbury has rejected the offer, saying it "does not come remotely close to reflecting the true value" of the company.
The Dow Jones industrial average gained 182.2 points to 10,205.6 after charging ahead 3.19 per cent last week.
The Nasdaq composite index climbed 34.98 points to 2,147.42 while the S&P 500 index rose 20.25 points to 1,089.55.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Electronic Arts (NASDAQ: ERTS, Stock Forum)
Amid declining sales of its video games declined, the world’s largest game maker reported a greater quarterly loss that nonetheless topped Street expectations. The company said that it would lay off as many as 1500 workers in an effort to cut $100 million per year in expenses. For its fiscal second quarter, EA announced a loss of $391 million of $1.21 per share, compared with a loss of $310 million or 97 cents per share in the year ago period. Excluding items like stock options and deferred revenue, the company said it would have earned $19 million or 6 cents per share. Revenue was down 12% to $788 billion. The consensus estimate was for the company to earn 7 cents per share on revenue of $1.13 billion.
Silvercorp (TSX: T.SVM, Stock Forum)
The miner, which reports in US dollars, said after the close on Monday that earnings and revenue rose in its fiscal second quarter. The company reported net earnings of $8.9 million or six cents per share, up from $4.9 million or three cents per share in the year earlier quarter. The company also reported cash production of $15.9 million or ten cents per share.