Today on Stockhouse
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Ticker Trax’s Thom Calandra writes about world serious uranium prospects that hope to be giants.
And, Peter Kennedy debates whether the rare earth element bubble is about to burst in the Stockhouse Short Report.
Top Bullboards post: “With the talk of takeover speculation let’s do a little math...
Current price $3.11 x 70m o/s f/d = $217m m/c. Current Resource 4.5m oz's
$217m / 4.5m oz's = $48.37 an oz @ $3.11. Takeover projections (minimums):
@ $100 an oz x 4.5m oz's = $450m / 70m o/s = $6.42 p/s
@ $150 an oz x 4.5m oz's = $675m / 70m o/s = $9.64 p/s
I'll stop at $150 consider the valuation RBI received $1200+ an oz granted they are in production... ORE's 4.5m oz's 80% of which occur within the first 80mtrs from surface new $2.5m drill program is going to test the bombre pit to 200m. Essankane sold in 08 for $350m at the time it had roughly 4.0m oz's gold was at $750 - $800 an oz about $87 an oz gold is currently at $1300 IMHO if this is bought the acquirer will be paying double the 08 price above $150 an oz. I also believe a premium may be paid based upon the blue sky potential in total they have at least 6m - 7m oz's IMHO.” From raider1 on the Orezone Gold (TSX: T.ORE, Stock Forum) board.
Top Bullboard: Copper Fox Metals (TSX: V.SSS, Stock Forum) received the second-most reads and the third-most posts on a day its stock popped more than 52%.
Top blog: littleguy123 discusses what the U.S. elections means for the gold price in the Outside the Market 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
“It feels like the market’s struggling to maintain its momentum,” said Bruce McCain, chief investment strategist at Key Private Bank, in an interview with MarketWatch. “[Investors] have been inclined to look at the positive side of QE2, but with businesses unwilling to borrow and other problems in the system that have led to lower lending, the Fed may be largely pushing on a string.”
| Selected expected U.S. earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Apartment Investment & Manage. (NYSE: AIV) |
Q3 |
$0.34 vs. $0.19 |
|
| Arch Coal (NYSE: ACI) |
Q3 |
$0.37 vs. $0.16 |
|
| Stillwater Mining Co. (NYSE: SWC) |
Q3 |
$0.09 vs. $0.05 |
|
| Total SA (NYSE: TOT) |
Q3 |
$1.43 vs. $1.20 |
|
| Selected expected Canadian earnings releases for Friday |
| (Consensus Estimates vs. Last Year) |
|
| Domtar (TSX: T.UFS) |
Q3 |
US$2.91 vs. $4.24 |
|
| TransAlta (TSX: T.TA) |
Q3 |
$0.32 vs. $0.34 |
|
Today In The Markets
TSX little changed amid rising commodities, caution ahead of Fed announcement
|
| DJIA |
11,113.95 |
-12.33 |
 |
|
| NASDAQ |
2,507.37 |
+4.11 |
 |
|
| S&P500 |
1,183.78 |
+1.33 |
|
|
| S&P/TSX |
12,564.09 |
-3.16 |
|
|
| S&P/TSX Venture |
1,926.15 |
+18.12 |
|
|
(The Canadian Press) TORONTO-NEW YORK - The Toronto stock market drifted slightly lower as commodity prices rose against a falling U.S. dollar and investors gave a mixed reception to a variety of earnings reports.
The S&P/TSX composite index dipped 3.16 points to 12,564.09, while the TSX Venture Exchange gained 18.13 points to 1,926.16.
The Canadian dollar rose 0.69 of a US cent to 97.9 cents US.
Gold stocks led advancers on higher bullion prices and a well-received earnings report from Barrick Gold Corp. (TSX:ABX), while oil closed up 24 cents at US$82.18 a barrel .
U.S. markets were little changed as strong earnings from the likes of Dow Chemical and Motorola were offset by a disappointment at 3M.
The Dow Jones industrial average declined 16.57 points to 11,109.71. The Nasdaq composite index was up 4.11 points at 2,507.37, while the S&P 500 index headed 1.22 points higher to 1,183.67.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Microsoft Corp. (NASDAQ: MSFT, Stock Forum) announced record first-quarter revenue of $16.2 billion for the quarter ended Sept. 30, 2010, a 25% increase from $12.9 billion in the same period of the prior year. Earnings in the first quarter were $5.4 billion or 62 cents a share, up from $3.6 billion or 40 cents in the year earlier period. Higher sales were driven by the company’s flagship Windows and Office software.
Canfor Corp. (TSX:CFP, Stock Forum) reported net income of $5.6 million or 4 cents a share for the third quarter of 2010, compared to a loss of $5.2 million or 4 cents a share for the third quarter of 2009. Sales in the third quarter rose to $588.7 million from $521.2 million a year earlier. Financial results for the third quarter included an after-tax charge of $13.4 million, or $0.09 per share, relating to the permanent closure of the Company's Clear Lake lumber operation.