Today on Stockhouse
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Get the facts on gold investing including eight exclusive feature stories in the Stockhouse North American Gold Report.
Larsen Kusick of Growth Stock Wire believes these small cap stocks are just kicking off a major new rally.
Top Bullboards post: “Hard book under the new IFS is $2.65. This doesn’t take into account replacement value nor take into account positive trends in real estate appreciation. Considered together, hard book is above the $3 level. Then, add premium associated with large backlog of $180 million. Companies looking to boost growth and earnings profile will find this very attractive. Minimum of $20 million but more likely $30 million for the backlog. Split the diff and it’s an additional $1.75 per share for a total takeover price of about $4.50. If the cash is returned to shareholders, the company, less cash should go for at least $3 per share.” From marketman3 on the Global Railway Industries (TSX: T.GBI, Stock Forum) board.
Top Bullboard:Yellow Media (TSX: T.YLO, Stock Forum) received the most reads and second-most posts on a day its stock slid more than 18%.
Top blog:coffintrader says members should take a look at this small scale gold producer that will crank up production next year to 40,000 oz a year in the WallStreet Investing 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 probably a relief rally here, the market had a tough week last week. I wouldn’t read too much into it,” said Michael Gibbs, director of equity strategy at Morgan Keegan, in an interview with MarketWatch.
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Life Partners Holdings (NASDAQ: LPHI) |
Q4 |
$0.36 vs. $0.32 |
|
| OMNOVA Solutions (NYSE: OMN) |
Q2 |
$0.20 vs. $0.33 |
|
| Progress Software (NASDAQ: PRGS) |
Q2 |
$0.38 vs. $0.39 |
|
| Sealy Corporation (NYSE: ZZ) |
Q2 |
$0.00 vs. $0.02 |
|
| Shaw Group (NYSE: SHAW) |
Q3 |
$0.68 vs. $0.57 |
|
| Selected expected Canadian earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| EXFO (TSX: T.EXF) |
Q3 |
$0.08 vs. $0.04 |
|
Today In The Markets
Toronto Stock Exchange makes gains amid cautious optimism on Greece debt
|
| DJIA |
12,043.56 |
+108.98 |
 |
|
| NASDAQ |
2,688.28 |
+35.39 |
|
|
| S&P500 |
1,280.10 |
+11.65 |
|
|
| S&P/TSX |
12,966.49 |
+57.60 |
|
|
| S&P/TSX Venture |
1,867.72 |
-37.61 |
 |
|
Toronto & New York (The Canadian Press) - The Toronto Stock Exchange closed higher Monday after a day of light trading as investors were cautiously optimistic that Greece would pass an austerity bill necessary to prevent default on the country's debt.
The S&P/TSX composite index gained 57.6 points to 12,966.5 with only the gold index in the red. The TSX Venture Exchange lost 37.6 points to 1,867.7.
The Dow Jones industrial average was up 109 points to 12,043.6, while the Nasdaq gained 35.4 points to 2,688 and the S&P was up 11.7 points to 1,280.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Nike (NYSE: NKE, Stock Forum)
After Monday’s close, the footwear and apparel seller said its fiscal fourth-quarter net profit rose to $594 million, or $1.24 a share, from $522 million, or $1.06 cents a share, in the year-ago period. Revenue rose 14% to $5.77 billion from $5.08 billion. Analysts expected earnings of $1.17 a share on $5.53 billion in revenue.
Newstrike Capital (TSX: V.NES, Stock Forum)
The junior miner, after Monday’s closing bell, reported the next series of assay results from the 2011 drill program at its 100%-owned Ana Paula Project in Mexico, which included 190.15 meters of 3.52 grams per tonne gold.