Today on Stockhouse
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Energy investors ought to be prepared for a key oil producer to face serious trouble, according to Matt Badiali.
While Sy Harding is critical of financial reform efforts.
And gold prices could face resistance above $1130, argues Gene Arensberg.
Top Bullboards post:On the Vast Exploration (TSX: V.VST, Stock Forum) Bullboard, marktur urged fellow posters to get some perspective. “I too believe that VAST can stand on its own merits, but when the same people say the same thing day after day, humpteen times a day it starts to get monotonous, and yes it even sounds like pumping.
“Now instead, if we hear something from the company like say, er... "Drill is on route, Is at such and such a place, site prep is going well" a few updated pics from the site. Ya know, the typical stuff that creates some positive sentiment. -Sort a stuff that makes people realize things are on schedule and going according to plan. Some nice positive updates like that, might make a brokerage like Cannacord think twice about tryin massage yer stock down for their own manipulative purposes. If they are even doin it in the first place. Are you listening Mr. Vast P.R. man?”
Top Bullboard:Allana Potash Corp (TSX: V.AAA, Stock Forum) was the top Bullboard on Stockhouse Monday with 114 posts.
Top blog:RedMars discussed the importance of a large cash position in the latest entry for his 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 Greek situation seems a bit closer to resolution, which has increased risk appetite,” said Marshall Front, chairman of Front Barnett Associates LLC in Chicago, in an interview with Bloomberg.
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| CSX Corp (NYSE: CSX) |
Q4 |
$0.69 vs. $0.62 |
|
| Insosys Techologies (NASDAQ: INFY) |
Q4 |
$0.57 vs. $0.56 |
|
| Intel Corp (NASDAQ: INTC) |
Q1 |
$0.38 vs. $0.11 |
|
| Talbots (NYSE: TLB) |
Q4 |
$0.02 vs. -$1.31 |
|
Today In The Markets
Toronto backs off; New York ahead
|
| DJIA |
11,005.97 |
+8.62 |
 |
|
| NASDAQ |
2,457.87 |
+3.82 |
|
|
| S&P500 |
1,196.48 |
+2.11 |
|
|
| S&P/TSX |
12,148.66 |
-28.18 |
 |
|
| S&P/TSX Venture |
1,673.67 |
-6.90 |
|
|
Toronto & New York (The Canadian Press) - Energy stocks helped push the Toronto stock market lower amid lower oil prices and dealmaking that will see a major Chinese company buy a piece of the Canadian oilsands sector.
The S&P/TSX composite index pulled back 28.18 points to 12,148.66, with the energy sector down 0.2 per cent after U.S. energy giant ConocoPhillips (NYSE:COP) announced it plans to sell its 9.03 per cent interest in Syncrude Canada Ltd. to China's Sinopec for $4.65 billion.
Shares in Syncrude's largest partner - Canadian Oil Sands Trust (TSX:COS.UN), which owns a 37 per cent stake in the project - jumped five per cent to $32.22.
Oil moved up down 58 cents to US$84.34 a barrel while the Canadian dollar gained 0.07 of a cent to 99.67 cents US.
New York's Dow Jones industrial average gained 8.62 points to an 18-month high of 11,005.97.
The Nasdaq composite index was up 3.82 points to 2,457.87 and the S&P 500 index rise 2.11 points to 1,196.48.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Alcoa (NYSE: AA, Stock Forum)
The aluminum giant said that improving prices helped it to report a smaller loss than in the year ago quarter. Alcoa said it lost $201 million or 20 cents per share, compared with its loss of $497 million or 61 cents per share in the same quarter a year ago. Revenue climbed to $4.89 billion from $4.15 billion in the year ago period. Excluding items, the company had earnings of 10 cents per share. Analysts on Wall Street had forecast the company to earn 11 cents per share on revenue of $5.2 billion.
Golden Dawn Minerals (TSX: V.GOM, Stock Forum)
The company announced that it had completed its non-brokered private placement of $135,000 with a subscription of 2.7 million units. Each unit consisted of one flow through common share and one flow through common share purchase warrant, which entitles the holder to subscribe for one additional common share in the company for 12 cents within one year.