Today on Stockhouse
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Ticker Trax’s Thom Calandra outlines performance targets for this junior miner.
This as Peter Degraaf believes the U.S. is giving hints as to where gold/silver price is headed.
Top Bullboards post: “While this looks to be a fairly complex transaction it indicates a couple of very important steps: Now that the PC mill is days away from being operational, ANX is beginning to refocus attention on its larger iron ore play in Chile and it looks as if they have added significant new potential to their resource base with this deal. They are now involved (albeit through a 3rd party) with CAP which is the big dog in all things iron and steel in Chile. The fact that CAP can commit $15M to exploration on the MHA property is pretty substantial as it does not take a lot of drilling to prove up a near surface iron deposit and some of these anomalies are very large. CAP will also be watching to see if ANX expands their San Gabriel/Antonio resource in any material way as they are definitely interested in continuing to expand their iron reserves in Chile, especially in a location that is as readily accessible to transportation as San Gabriel.” From neotrader1 on the Anaconda Mining (TSX: T.ANX, Stock Forum) board.
Top Bullboard: Spider Resources (TSX: V.SPQ, Stock Forum) received the most reads and the most posts.
Top blog: fredski posted an article about how Canadian shale is the Gas Revolution No. 2 in the Carpe Diem blog.
For news about small stocks that made big moves in Tuesday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"Manufacturing is the one part of the economy that is doing well," said Paul Nolte, managing director at Dearborn Partners, in an interview with MarketWatch.
| Selected expected U.S. earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Canadian Solar (NASDAQ: CSIQ) |
Q1 |
$0.11 vs. $ - 0.13 |
|
| Cyberonics (NASDAQ: CYBX) |
Q4 |
$0.33 vs. $0.22 |
|
| Dynamex (NASDAQ: DDMX) |
Q3 |
$0.30 vs. $0.17 |
|
| Greif (NYSE: GEF) |
Q2 |
$0.81 vs. $0.53 |
|
| Layne Christensen Co. (NASDAQ: LAYN) |
Q1 |
$0.22 vs. $0.05 |
|
| Medical Action Industries (NASDAQ: MDCI) |
Q4 |
$0.24 vs. $0.11 |
|
| Selected expected Canadian earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| ATS Automation (TSX: T.ATA) |
Q4 |
$0.07 vs. $0.16 |
|
| Bombardier (TSX: T.BBD.B) |
Q1 |
US$0.07 vs. $0.12 |
|
| Harry Winston (TSX: T.HW) |
Q1 |
US$ - 0.02 vs. $ - 0.68 |
|
Today In The Markets
Chinese growth worries help depress TSX; C$ falls as BoC ups interest rates
|
| DJIA |
10,024.02 |
-112.61 |
 |
|
| NASDAQ |
2,222.33 |
-34.71 |
|
|
| S&P500 |
1,070.71 |
-18.70 |
|
|
| S&P/TSX |
11,571.97 |
-191.02 |
|
|
| S&P/TSX Venture |
1,488.00 |
-26.07 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market started June trading sharply lower Tuesday as sentiment on commodity demand was dampened by a report showing that manufacturing in China slowed in May while concerns about the eurozone economy persisted.
The S&P/TSX composite index tumbled 191.02 points to 11,571.97, while the TSX Venture Exchange was down 25.32 points at 1,488.75.
Investors also took in a widely expected quarter-point hike in the Bank of Canada's key interest rate to 0.5 per cent. The Canadian dollar fell heavily despite the hike, down 0.95 of a cent to 94.88 cents US, pushed lower by uncertainty over what the central bank will do about raising rates in the future.
The Dow Jones industrial average fell 112.61 points to 10,024.02. The Nasdaq composite index moved 34.71 points lower to 2,222.33 while the S&P 500 index dropped 18.7 points to 1,070.71.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Westport Innovations Inc. (TSX: T.WPT, Stock Forum)
Westport Innovations Inc., a global leader in alternative fuel, low-emissions transportation technologies, reported financial results for the fourth quarter ended March 31, 2010. The company reported a net loss of $12.2 million or 32 cents a share in the fourth quarter, compared to a net loss of $12.7 million or 43 cents in the same period last year. The company said its quarterly revenue rose to $35.7 million from $26.3 million a year ago.
MAX Minerals Ltd.(TSX: V.MJM, Stock Forum)
MAX Minerals Ltd. has struck a deal to complete the strategic acquisition of Calgary-based Varenna Energy Ltd. Varenna is an oil and gas exploration company whose primary objective has been to explore for Sawtooth oil on lands situated in Southern Alberta. In consideration of the sale, MAX has agreed to issue 11.3 million of its common shares to the shareholders of Varenna in exchange for all issued and outstanding shares of Varenna.