Today on Stockhouse
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Ticker Trax’s Thom Calandra describes how the Doug Casey crowd was rallying $5,000 gold and the service’s first 10-bagger.
Top Bullboards post: “IMO, CRO needs $7 (historical costs were $5) nickel to make this work.....nickel is @ $12.50. What CRO needs is more eyeballs looking for a value play. Not a sexy commodity, just an obvious winner based on fundamentals of stainless steel/iron ore that can't help but be revalued on revenues. Do you have a one year time horizon or better??? Maybe $30,000,000 starting Sept/11 using 130,000,000 shares, even a 5X multiple = $1.15sp.” From RetiringYoung on the Canadian Arrow Mines (TSX: V.CRO, Stock Forum) board.
Top Bullboard:Copper Fox Metals (TSX: V.CUU, Stock Forum) received the second-most reads and posts.
Top blog: ADUB77 provides reasons to own this social media small cap stock in the Reasons to Own INT 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
“It’s a two-sided market: We’ve had great corporate earnings, which is fundamentally what you buy on, so it’s been a great four months. But how long can these corporations not pass on” higher commodity costs, asked Jay Suskind, senior vice president at Duncan-Williams Inc., in an interview with MarketWatch. “The news with bin Laden gave us a pop, but that doesn’t mean that much to the marketplace. We’re 10 years removed.”
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Alpha Natural Resources (NYSE: ANR) |
Q1 |
$0.91 vs. $0.69 |
|
| Archer Daniels Midland (NYSE: ADM) |
Q3 |
$0.86 vs. $0.72 |
|
| Coherent (NASDAQ: COHR) |
Q2 |
$0.78 vs. $0.45 |
|
| Hyatt Hotels (NYSE: H) |
Q1 |
$0.05 vs. $0.00 |
|
| Las Vegas Sands (NYSE: LVS) |
Q1 |
$0.44 vs. $0.07 |
|
| Web.com Group (NASDAQ: WWWW) |
Q1 |
$0.22 vs. $0.13 |
|
| Selected expected Canadian earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Suncor Energy (TSX: T.SU) |
Q1 |
$0.77 vs. $0.18 |
|
| Westjet Airlines (TSX: T.WJA) |
Q1 |
$0.20 vs. $0.12 |
|
| Yamana Gold (TSX: T.YRI) |
Q1 |
$0.23 vs. $0.10 |
|
Today In The Markets
TSX closes lower as early elation over bin Laden death fades; oil prices slide
|
| DJIA |
12,807.36 |
-3.18 |
 |
|
| NASDAQ |
2,864.08 |
-9.46 |
|
|
| S&P500 |
1,361.22 |
-2.39 |
|
|
| S&P/TSX |
13,934.51 |
-10.28 |
|
|
| S&P/TSX Venture |
2,207.99 |
-44.15 |
|
|
Toronto & New York (The Canadian Press) - The Toronto stock market closed little changed as oil prices slipped and initial investor euphoria over the news that al-Qaida leader Osama bin Laden has been killed fizzled by the end of the session.
The S&P /TSX composite index surrendered a 143-point lead to close 10.28 points lower at 13,934.51. The TSX Venture Exchange lost 44.15 points to 2,207.99.
The Dow Jones industrial average also closed well off early highs, moving down 3.18 points to 12,807.36.
The Nasdaq composite index was down 9.46 points at 2,864.08 and the S&P 500 index slipped 2.39 points to 1,361.22.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
FirstEnergy Corp. (NYSE: FE, Stock Forum)
FirstEnergy Corp. announced earnings for the first quarter of 2011, and provided non-GAAP* earnings guidance of $3.20 to $3.50 per share of common stock for each year from 2011 through 2013. During each of these years, the company also expects to generate cash from operations in excess of its planned capital spending and common stock dividend payments. For the first quarter of 2011, basic and diluted earnings were $0.69 per share of common stock on a non-GAAP basis. These results exclude the impact of special items, primarily related to the recently completed merger with Allegheny Energy, listed below. This compares to basic and diluted non-GAAP earnings of $0.81 per share in the first quarter of 2010. On a GAAP basis, first quarter 2011 basic and diluted earnings were $0.15 per share of common stock on net income of $45 million and revenue of $3.6 billion. First quarter 2010 basic and diluted GAAP earnings were $0.51 per share on net income of $149 million, with revenue of $3.3 billion.
Goldrush Resources Ltd. (TSX: V.GOD, Stock Forum)
Goldrush Resources Ltd. President & CEO Len Brownlie, Ph.D announced that non-brokered private placement announced on April 21, 2011 has been increased from $2,000,000 to a maximum of $3,400,000. The financing will now consist of up to 21,250,000 units at a purchase price of $0.16 per unit for gross proceeds of up to $3,400,000. Each unit consists of one common share and one half of one non-transferable share purchase warrant. Each full warrant entitles the holder to purchase an additional common share at a price of $0.21 for a period of 18 months from closing.