Today on Stockhouse
Today on Stockhouse
Your opinion matters. Submit an article to Stockhouse today at submissions@stockhouse.com. Submission guidelines can be found here.
Matt Badiali of DailyWealth outlines tips on investing in monster gold stock winners early in the game.
Top Bullboards post: “Richfield has done the job explorers with solid properties do, they enhance value and finally get bought out before the heavier dilution comes from putting in a producing mine. We may see another offer but frankly I doubt it, the paper offer allows longer term investors who truly believe in the project to stay with it and hold paper tied to the properties. The resultant rise in share price up to $10 is cash in hand and allows those value investors to reap the benefits! In either case, a hearty WELL DONE to all including the Richfield management team. I have believed in this area of operations for a very long time and have said nothing, I will take advantage of the higher share price available and move along to Gold Reach {V.GRV} who holds 1 property of significant size running right into our ore zone here. At 75c with only 15 million out, it has every chance I would hope of generating the same home run as this one has, anyway, thanks for the memories and the cash. I don t have to put much in to get a significant amount of shares and away we go again!” From kirk15 on the Richfield Ventures (TSX: V.RVC, Stock Forum) board.
Top Bullboard:Intertainment Media (TSX: V.INT, Stock Forum) received the most reads and posts.
Top blog: ghost11 provided an outlook for copper in the GHOST TRADER2 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
"If an investor had been asked to forecast such a toxic cocktail of earthquakes, tsunamis, war, nuclear crisis and seemingly endless financial turmoil, they would not have predicted that shares would stand at a three-year high," said Edward Menashy, chief economist at Charles Stanley, in an interview with Associated Press.
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| International Speedway (NASDAQ: ISCA) |
Q1 |
$0.48 vs. $0.45 |
|
| KB Home (NYSE: KBH) |
Q1 |
$ - 0.27 vs. $ - 0.71 |
|
| Layne Christensen Co. (NASDAQ: LAYN) |
Q4 |
$0.36 vs. $0.28 |
|
| Mitcham Industries (NASDAQ: MIND) |
Q4 |
$0.21 vs. $0.06 |
|
| Zep, Inc. (NYSE: ZEP) |
Q2 |
$0.15 vs. $0.09 |
|
| Selected expected Canadian earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Forzani Group (TSX: T.NSU) |
Q4 |
$0.88 vs. $0.75 |
|
Today In The Markets
TSX higher amid Chinese move to acquire Equinox Minerals; commodities up
|
| DJIA |
12,400.03 |
+23.31 |
 |
|
| NASDAQ |
2,789.19 |
-0.41 |
 |
|
| S&P500 |
1,332.87 |
+0.46 |
|
|
| S&P/TSX |
14,218.35 |
+88.20 |
|
|
| S&P/TSX Venture |
2,323.72 |
+25.32 |
|
|
Toronto & New York (The Canadian Press) - The Toronto stock market closed higher on major dealmaking in the mining sector while energy stocks advanced as crude oil rose to a fresh two-and-a-half year high.
The S&P/TSX composite index gained 88.2 points to 14,218.35 while the Canadian dollar was down 0.33 of a cent to 103.36 cents US.
China’s Minmetals Resources Ltd. is launching a C$6.3 billion unsolicited bid for Equinox Minerals (TSX:EQN), which is dual-listed on the Toronto and Australian exchanges.
Minmetals is offering $7 per share but investors thought that offer could be improved as the stock surged 32 per cent to $7.55.
Oil was up 53 cents to US$108.10 a barrel.
New York's Dow Jones industrial average was 23.31 points higher to 12,400.03. The Nasdaq composite index dipped 0.41 of a point to 2,789.19 while the S&P 500 index inched up 0.46 of a point to 1,332.87.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Kinross Gold Corp. (TSX: T.K, Stock Forum)
Kinross Gold Corp. announced today that its 75%-owned subsidiary, Chukotka Mining and Geological Company, has entered into a share purchase agreement with the State Unitary Enterprise of the Chukotka Autonomous Okrug or "CUE", to repurchase the 2,292,348 shares of CMGC currently held by CUE, representing 25.01% of CMGC's outstanding share capital, for an approximate consideration of US$350 million, subject to adjustments equal to the amount of the attributable dividend payments. On completion of the transaction, Kinross will own 100% of CMGC, which in turn, holds both the Kupol mine and the Kupol East-West exploration licences in the Chukotka region of the Russian Federation.