Today on Stockhouse
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Keith Fitz-Gerald of Money Morning explains why he believes your gold holdings may be worth less than you think.
This as Jeb Handwerger debates whether the long-term treasury mania is over.
Top Bullboards post: “I think this deal is a great sign for NCU. I did a little math:
ANM deal valued at $460m
ANM PEA NPV = $1.07B
NCU PEA NPV = $784M at $2.50 copper
Same ratio, NCU would be worth $337M
54m shares out means $6.24 per share.” From mikerodger on the Antares Minerals (TSX: V. ANM, Stock Forum) board.
Top Bullboard: Canaco Resources (TSX: V.CAN, Stock Forum) received the most reads and the second-most posts.
Top blog: littleguy123 discusses how high gold and silver could go under a hyperinflation scenario in the 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
"Earnings will be at the forefront," said Mike Schenk, vice president of economics and statistics at the Credit Union National Association, in an interview with Associated Press. "Underlying that will be any information we get out of the consumer sector."
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Badger Meter (NYSE: BMI) |
Q3 |
$0.52 vs. $0.47 |
|
| Johnson & Johnson (NYSE: JNJ) |
Q3 |
$1.15 vs. $1.20 |
|
| Stryker Corp. (NYSE: SYK) |
Q3 |
$0.77 vs. $0.69 |
|
| TESSCO Technologies (NASDAQ: TESS) |
Q3 |
$0.49 vs. $0.37 |
|
| Selected expected Canadian earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Aastra Technologies (TSX: T.AAH) |
Q3 |
$0.47 vs. $0.71 |
|
|
Today In The Markets
Banks, energy companies lift TSX after Citigroup beats forecasts, oil jumps
|
| DJIA |
11,143.69 |
+80.91 |
 |
|
| NASDAQ |
2,480.66 |
+11.89 |
 |
|
| S&P500 |
1,184.71 |
+8.52 |
|
|
| S&P/TSX |
12,668.01 |
+58.94 |
|
|
| S&P/TSX Venture |
1,838.21 |
+15.68 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market closed higher with financials taking the lead following a solid earnings report from the big U.S. bank Citigroup.
The S&P/TSX composite index was 58.94 points higher at 12,668.01.
A day before the Bank of Canada delivers its next announcement on interest rates, a stronger U.S. currency helped push the Canadian dollar down 0.22 of a cent to 98.61 cents US.
Bank stocks on the TSX advanced after Citigroup Inc. reported that quarterly profit rose to US$2.17 billion. Citgroup's net income amounted to seven cents a share, which beat analysts' estimates by two cents.
Oil stocks were also higher with crude up $1.83 at US$83.08 a barrel.
The Dow Jones industrial average gained 80.91 points to 11,143.69. The Nasdaq composite index moved 11.89 points higher to 2,480.66 and the S&P 500 index climbed 8.52 points to 1,184.71.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Apple Inc. (NASDAQ: AAPL, Stock Forum)
Apple Inc. announced financial results for its fiscal 2010 fourth quarter ended September 25, 2010. The company posted record revenue of $20.34 billion and net quarterly profit of $4.31 billion, or $4.64 per diluted share. These results compare to revenue of $12.21 billion and net quarterly profit of $2.53 billion, or $2.77 per diluted share, in the year-ago quarter.
Medoro Resources Ltd. (TSX: V.MRS, Stock Forum)
Medoro Resources Ltd. said the company has received final approval from the Toronto Stock Exchange to graduate from the TSX Venture Exchange and list its common shares and warrants on the TSX. Trading in Medoro's common shares and warrants will commence effective at the opening of the TSX on Wednesday, October 20, 2010 under the symbols "MRS" and "MRS.WT", respectively.
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