Today on Stockhouse
Your opinion matters. Submit an article to Stockhouse today at submissions@stockhouse.com. Submission guidelines can be found here.
Marc Davis of BNWnews.ca claims there’s more gold M&A on the way in Argentina.
While Richard (Rick) Mills explains why this gold junior is classic B.C. exploration play.
Top Bullboards post: “Just for new bees: Khan holds two Mongolian Uranium licences:
- 1) Uranium mining license 237A for the Dornod Uranium mine. The formal owner is CAUC, on which Khan holds the majority.
- 2) A Uranium exploration licence for an area adjacent to the Dornod mine licence area.
Number 2) was decided already in favour for Khan and was not appealed by the NEA. Number 1) was appealed by NEA but the appelate court case was now decided in favour for us. We now wait for renewing of both licences due to Mongolian laws. Licence 237 A was / is the only existing uranium mining licence in Mongolia. All other uranium licences of the different companies in Mongolia are "only" exploration licences. If the Mongolians want, that the concrete work on the Dornod ground starts in spring time, they obviously have to clear the ownership of the licences in a juristical clean and "bankable" way... One more step is gone into that direction - in favour for correct justice and Khan.” From sailor8 the Khan Resources (TSX: T.KRI, Stock Forum) board.
Top Bullboard: Copper Fox Metals (TSX: V.CUU, Stock Forum) received the second-most reads and the third-most posts.
Top blog:dzurbo1provides a great junior mining news review for the week of October 18 in the Metal Augmentor's Weekly Mining News Review 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
"The economy continues to show that it is recovering, even though it’s going to be a very sluggish recovery,” said Michael Yoshikami, president and chief investment strategist at YCMNET Advisors, in an interview with MarketWatch
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| 3M Co. (NYSE: MMM) |
Q3 |
$1.51 vs. $1.37 |
|
| Cliffs Natural Resources (NYSE: CLF) |
Q3 |
$2.59 vs. $0.45 |
|
| Exxon Mobil (NYSE: XOM) |
Q3 |
$1.39 vs. $0.98 |
|
| Microsoft (NASDAQ: MSFT) |
Q1 |
$0.55 vs. $0.40 |
|
| The Dow Chemical Company (NYSE: DOW) |
Q3 |
$0.41 vs. $0.24 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Barrick Gold (TSX: T.ABX) |
Q3 |
US$0.76 vs. $0.54 |
|
| Eldorado Gold (TSX: T.ELD) |
Q3 |
US$0.09 vs. $0.08 |
|
| Nexen (TSX: T.NXY) |
Q3 |
$0.36 vs. $0.23 |
|
| Potash Corp (TSX: T.POT) |
Q3 |
US$1.13 vs. $0.82 |
|
Today In The Markets
TSX lower, doubts about Fed stimulus strengthen greenback, weaken commodities
|
| DJIA |
11,126.28 |
-43.18 |
 |
|
| NASDAQ |
2,503.26 |
+5.97 |
 |
|
| S&P500 |
1,182.45 |
-3.19 |
|
|
| S&P/TSX |
12,567.25 |
-117.43 |
|
|
| S&P/TSX Venture |
1,908.03 |
-0.04 |
|
|
(The Canadian Press) TORONTO-NEW YORK - The Toronto stock market was sharply lower Wednesday and the American dollar gained strength on worry that markets have been counting on more stimulus from the Federal Reserve than the U.S. central bank actually plans on implementing.
The S&P/TSX composite index lost 117.43 points to 12,567.25, led by falling commodity stocks as the higher greenback pushed oil and metal prices lower, while the TSX Venture Exchange edged down 0.04 of a point to 1,908.03.
The Canadian dollar also moved lower, down 0.43 of a cent to 97.21 cents US.
New York markets were mainly lower, further depressed by a report from the U.S. Commerce Department that orders for durable goods rose 3.3 per cent last month. Overall, it was the best showing since January. But excluding transportation, orders fell 0.8 per cent after having risen 1.9 per cent in August.
The Dow Jones industrial average lost 43.18 points to 11,126.28.
Tech stocks recovered late in the day and the Nasdaq composite index moved 5.97 points higher to 2,503.26, while the S&P 500 index was down 3.19 points at 1,182.45.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Visa Inc. (NYSE: V, Stock Forum) posted financial results for the fiscal fourth quarter ended September 2010. GAAP net income in the quarter was $774 million or $1.06 per Class A share, an increase of 51% over the prior year when the company posted net income of $514 million or 69 cents a share. Total operating revenue in the quarter rose to $2.1 billion from $1.88 billion a year earlier.
Archer Petroleum Corp. (TSX: V.ARK, Stock Forum) said it has granted stock options pursuant to its stock option plan to purchase up to 354,000 shares of the company at $0.20 per share for a period of five years. The company also said Mr. Robert McMorran, CA, has been appointed as the chief financial officer of the company in place of Darren Tindale, who has resigned.