Today on Stockhouse
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Sam Kiri writes that the stars are aligned for Colombian Mines (TSX: V.CMJ, Stock Forum), and investors will wait to see drill results.
While the U.S. government’s credit rating may be a greater risk than some U.S. companies, according to Dr. Steve Sjuggerud.
This as Sy Harding dissects the new housing rescue plan.
Top Bullboards post: On the Vast Exploration (TSX: V.VST, Stock Forum) Bullboard good40 wrote: “As an example, there were probably some that thought all oil was worth the same on a per barrel basis. Now they are aware that undeveloped, and developed and producing have different values.
“They should also be aware that Prospective Resource should never be confused with reserves, even though there has been a huge effort on this board to define otherwise.”
Top Bullboard: Stornoway Diamond Corp (TSX: T.SWY, Stock Forum) continued to draw comments from Stockhouse posters about the stock’s lack of movement.
Top blog: RedMars explained why he set aside doubts about trading penny stocks in the Notes from a Cyber Trader 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
“The picture is very encouraging,” said John Carey, a Boston-based money manager at Pioneer Investment Management in an interview with Bloomberg news. “There’s some hopefulness regarding a solution to the Greek crisis. Economic numbers have been fairly positive. That’s keeping the market gains going.”
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Charming Shops (NASDAQ: CHRS) |
Q4 |
-$0.13 vs. -$-.34 |
|
| Fuqi International (NASDAQ: FUQI) |
Q4 |
$0.45 vs. $0.45 |
|
| Gammon Gold (NYSE: GRS) |
Q4 |
$0.11 vs. $0.18 |
|
| LDK Solar (NYSE: LDK) |
Q4 |
$0.12 vs. -$1.25 |
|
| SAIC (NYSE: SAI) |
Q4 |
$0.32 vs. $0.30 |
| Selected expected Canadian earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Kingsway Financial (TSX: T.KFS) |
Q4 |
N/A vs. –US$6.53 |
|
|
Today In The Markets
Energy leads the way higher
|
| DJIA |
10,895.86 |
+45.50 |
 |
|
| NASDAQ |
2,404.36 |
+9.23 |
|
|
| S&P500 |
1,173.32 |
+6.73 |
|
|
| S&P/TSX |
12,029.72 |
+72.35 |
|
|
| S&P/TSX Venture |
1,572.23 |
+12.45 |
|
|
Commodity stocks led the Toronto stock market higher as a lower U.S. dollar and hopes for increased demand sent oil and metal prices up sharply.
The S&P/TSX composite index moved up 72.35 points to 12,029.72.
The energy sector led advancers as oil ran ahead $2.17 to US$82.17 a barrel. The Canadian dollar was up 0.57 of a cent at 97.97 cents US.
Three of Canada's biggest banks - RBC (TSX:RY), TD Bank (TSX:TD) and Laurentian Bank (TSX:LB) say they are raising some of their mortgage rates. Their posted rate for a five-year mortgage will rise by six-tenths of a per cent to 5.85 per cent.
The Dow Jones industrial average advanced 45.5 points to 10,895.86.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Danaher (NYSE: DHR, Stock Forum)
The industrial group raised its expected earnings for the first quarter to 90 cents or more. Previously the company had expected to report Q1 earnings at the high end of the range between 77 cents and 82 cents.
Catalyst Paper (TSX: T.CTL, Stock Forum)
The company said late on Monday that it would restart the second line of pulp production at its Crofton kraft mill in B.C. in early May thanks to stronger market demand.
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