Today on Stockhouse
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Peter Kennedy reports on Rick Rule’s outlook for energy in his Stockhouse Movers & Shakers column.
And, Tony D'Altorio of Investment U explains why uranium investments have the power to light up portfolios.
Top Bullboards post: I've been running the numbers and the Rex has measured, indicated and inferred resources of about 60 million tonnes (value $4 to 6 billion), the Flatwoods/Ikerd is producing 23,000 tons per month selling at $70/ton ($20 million in sales per year). The Rosa was making around $400,000 per month (the company hasn't given much details), but that equates to $4.8 million per year in sales. The Rex hasn't even started producing yet, and the other two have room for expansion. The $38 million payment from SND will more than cover the deals for Rex and Ikerd, and leave $18 million left over. NDX will likely get additional monies from the exercise of options/warrants. I don't know, but they might not have to raise any more money (no more dilution) if operations produce enough cash. It seems like NDX is really on track here and still a good value at these levels. I sold out too early but may try to get back in if the price falls back. GLTA.” From rborhi on the Novadx Ventures (TSX: V.NDX, Stock Forum) board.
Top Bullboard: Seafield Resources (TSX: V.SFF, Stock Forum) received the most reads and posts on a day its share price rose more than 8%.
Top blog: Alexis08 is starting an investment discussion forum called the Metals & Money group, focusing on natural resource investments in the Metals & Money blog.
For news about small stocks that made big moves in Friday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
China’s trade data “showed pretty vibrant strength in terms of their economy and in terms of U.S. exports into China,” said Nick Kalivas, strategist and vice president of financial research at MF Global, in an interview with MarketWatch. However, he noted, “that bid was capped somewhat by the raising of the reserve rate requirement and the uncertainty of what’s going to happen this weekend.”
| Selected expected U.S. earnings releases for Monday |
| (Consensus Estimates vs. Last Year) |
|
| Carnival Corporation (NYSE: CCL) |
Q4 |
$0.34 vs. $0.24 |
|
| Herman Miller (NASDAQ: MLHR) |
Q2 |
$0.28 vs. $0.20 |
|
| Spectrum Control (NASDAQ: SPEC) |
Q4 |
$0.32 vs. $0.17 |
|
| The Marcus Corporation (NYSE: MCS) |
Q2 |
$0.07 vs. $ - 0.01 |
|
Today In The Markets
TSX higher amid Chinese moves to cool economy, dividend increases
|
| DJIA |
11,410.32 |
+40.26 |
 |
|
| NASDAQ |
2,637.54 |
+20.87 |
|
|
| S&P500 |
1,240.40 |
+7.40 |
|
|
| S&P/TSX |
13,239.47 |
+72.53 |
|
|
| S&P/TSX Venture |
2,124.30 |
+15.42 |
|
|
Toronto & New York (The Canadian Press) - The Toronto stock market advanced amid announcements of further dividend increases from several major Canadian companies, and moves by the Chinese government to choke off inflation.
The S&P/TSX composite index rose 72.53 points to 13,239.47 while the Canadian dollar closed up 0.11 of a cent at 99.07 cents US.
People’s Bank of China told commercial lenders Friday to increase minimum reserves by 0.5 per cent of deposits, the latest in a string of measures in recent weeks to cool inflation that rose to a 25-month high of 4.4 per cent in October.
Lift on the TSX came from the telecom sector after BCE Inc. (TSX:BCE) said it was boosting its dividend by 7.7 per cent. Iamgold Corp. (TSX:IMG) raised its annual dividend by 33 per cent.
Oil lost 58 cents to US$87.79 a barrel.
The Dow Jones industrials was ahead 40.26 points at 11,410.32. The Nasdaq composite index rose 20.87 points to 2,637.54 and the S&P 500 index gained 7.4 points to 1,240.4.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
EnteroMedics Inc. (NASDAQ: ETRM, Stock Forum)
EnteroMedics Inc., said the underwriter of a previously announced public offering has exercised an over-allotment option to purchase an additional 2.22 million shares at $1.75 and corresponding warrant. As a result, net proceeds to the company are expected to be about $27.6 million. The Company intends to use the net proceeds of this offering to continue work toward regulatory approval of the Maestro RC System in the United States, for international commercialization efforts, for clinical and product development activities and for other working capital and general corporate purposes.
Silver Standard Resources Inc. (TSX: T.SSO, Stock Forum)
Silver Standard Resources Inc. announced that George Paspalas has resigned as chief operating officer of the company, effective January 7, 2011. Mr. Joe Philips will assume responsibility for operations and development activities on an interim basis while the company completes a comprehensive search for Mr. Paspalas' successor.