Today on Stockhouse
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Matt Badiali of DailyWealth describes an unusual kind of commodity stock that can return 1,000%.
And, Richard (Rick) Mills explains how NioGold has thoughtful plan for success.
Top Bullboards post: “Orezone has enough money to execute the $2.5m drill program as well as the PEA's. I don't expect an equity raise until these things are complete but it is very possible. They have approx. $7m in cash on hand and an additional $5m in our uranium unit Brighton Energy, which will be doing an IPO in the very near future. Management expects to realize $25m - $50m from their uranium assets over the next 12 - 18months which will be divested and invested into the gold projects minimizing dilution. I have no issue with an equity raise at these levels... if it did happen I would guesstimate... $25m @ 2.20'ish+ So we'd be cashed up and have 80m shares o/s compare that to any other player in the sector.” From raider1 on the Orezone Gold Corporation (TSX: T.ORE, Stock Forum) board.
Top Bullboard: Ucore Rare Metals (TSX: V.UCU, Stock Forum) collect the most posts and the second-most reads.
Top blog: LexLuthor2 says he’s loading up on uranium stocks, including one he claims is well funded with a world-class deposit in the Lex Corp blog.
For news about small stocks that made big moves in Wednesday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
“There’s a lot of uncertainties about the banks, and this latest event only heightens it,” said Channing Smith, co-portfolio manager at Capital Advisors Growth Fund, in an interview with MarketWatch. “There will be a time to buy financials, but until the dust settles, it’s best to steer clear of them, in our opinion.”
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Caterpillar (NYSE: CAT) |
Q3 |
$1.09 vs. $0.64 |
|
| Cooper Industries plc (NYSE: CBE) |
Q3 |
$0.84 vs. $0.70 |
|
| Philip Morris International (NYSE: PM) |
Q3 |
$1.01 vs. $0.93 |
|
| PMC-Sierra (NASDAQ: PMCS) |
Q3 |
$0.18 vs. $0.15 |
|
| Ryder System (NYSE: R) |
Q3 |
$0.66 vs. $0.50 |
|
| United Parcel Service (NYSE: UPS) |
Q3 |
$0.88 vs. $0.55 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Precision Drilling (TSX: T.PD) |
Q3 |
$0.10 vs. $0.25 |
|
|
Today In The Markets
Rising commodity prices, positive U.S. earnings data push TSX higher
|
| DJIA |
11,107.97 |
+129.35 |
 |
|
| NASDAQ |
2,457.39 |
+20.44 |
|
|
| S&P500 |
1,178.17 |
+12.27 |
|
|
| S&P/TSX |
12,649.92 |
+79.37 |
|
|
| S&P/TSX Venture |
1,871.30 |
+56.39 |
|
|
TORONTO-NEW YORK (The Canadian Press) - Mining stocks led the way to a solid gain on the Toronto stock market Wednesday as commodity prices clawed back some of the sharp losses from a day earlier that followed a surprise interest rate hike by China.
The S&P/TSX composite index gained 79.37 points to 12,649.92, while the TSX Venture Exchange was up 56.39 points at 1,871.3.
New York markets were also higher with the Dow Jones industrial average ahead 129.35 points at 11,107.97.
The Nasdaq composite index advanced 20.44 points to 2,457.39, with Yahoo shares ahead 31 cents at US$15.80 despite reporting after the close Tuesday that it missed sales forecasts. The Internet firm delivered tepid third-quarter revenue growth and forecast weaker than expected sales in the fourth quarter as it continues to lose market share to rivals like Google.
The S&P 500 index was 12.27 points higher at 1,178.17.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Netflix, Inc. (NASDAQ: NFLX, Stock Forum)
Netflix, Inc. reported results for the third quarter ended September 30, 2010. Revenue for the third quarter was $553.2 million, a 31 per cent year-over-year growth from $423.1 million for the third quarter of 2009, and 6 percent sequential growth from $519.8 million for the second quarter of 2010. GAAP net income for the third quarter was $38.0 million, or $0.70 per diluted share compared to net income of $30.1 million, or $0.52 per diluted share in the year earlier period.
Galore Resources Inc. (TSX: V.GRI, Stock Forum)
Galore Resources Inc. has granted an aggregate 300,000 incentive stock options to officers of the company, in accordance with the company's stock option plan, exercisable at a price of $0.285 for a period of five years from the date of issuance. Galore Resources is a British Columbia-based exploration company that has assembled a leading group of industry professionals to acquire and explore for promising deposits with an emphasis on gold in Mexico and base metals in British Columbia.
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