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.
Thom Calandra reports on an explorer hoping to capitalize on the code-red ruby appetite.
Top Bullboards post: “TRR needs the lands to the north, to the south and to the west of Cote Lake strike to develop an open pit and to extract all gold and to be of real economic value. The “Pit Envelope” (lands owned by GLD) is needed by TRR but reading all public information the chance for the Cote Lake extension could extend well into the GLD lands. So it is possible that Augen could possibly control half (or less) the ounces that TRR has discovered due to the “PIT ENVELOPE.” It seems that to enable open pit mining of the TRR’s Cote Lake find, the pit design has to encompass all the Augen ground in the Cote Lake area, otherwise many, many ounces will be mined. That means that Augen controls (directly or indirectly) a large part of the minable ounces. That means that Augen’s share price should be much higher, in my opinion $2.00 to $3.00 range.” From wallyz on the Augen Gold (TSX: V.GLD, Stock Forum) board.
Top Bullboard:Copper Fox Metals (TSX: V.CUU, Stock Forum) received the most reads and posts.
Top blog:oilguy1 explains why he’s adding this gold stock to his portfolio in the STOCKS WITH LOW FORWARD EV/EBITDA 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
“People are reacting to corporate earnings today,” said Rob McIver, a co-portfolio manager at Jensen Portfolio in an interview with MarketWatch, who played down any worries about stalled U.S. debt-limit negotiations, saying a resolution is already priced into the market.
| Selected expected U.S. earnings releases for Monday |
| (Consensus Estimates vs. Last Year) |
|
| Charles Schwab (NASDAQ: SCHW) |
Q2 |
$0.20 vs. $0.17 |
|
| Halliburton Company (NYSE: HAL) |
Q2 |
$0.72 vs. $0.52 |
|
| Netgear (NASDAQ: NTGR) |
Q2 |
$0.57 vs. $0.38 |
|
| Wynn Resorts (NASDAQ: WYNN) |
Q2 |
$0.99 vs. $0.52 |
|
Today In The Markets
TSX racks up modest gain amid worse than expected U.S. consumer sentiment data
|
| DJIA |
12,479.73 |
+42.61 |
 |
|
| NASDAQ |
2,789.80 |
+27.13 |
|
|
| S&P500 |
1,316.14 |
+7.27 |
|
|
| S&P/TSX |
13,299.54 |
+46.62 |
|
|
| S&P/TSX Venture |
2,007.38 |
+16.43 |
 |
|
Toronto & New York (The Canadian Press) - The Toronto stock market capped a losing week with a modest gain amid rising prices for oil and metals.
However, trading was overshadowed by data showing a sharp drop in American consumer confidence and another warning about U.S. government debt.
The S&P/TSX composite index rose 46.62 points to 13,299.54 while the TSX Venture Exchange was up 16.43 points to 2,007.38.
The Dow Jones industrial average was up 42.61 points to 12,479.73.
The Nasdaq composite index was up 27.13 points to 2,789.8 and the S&P 500 index edged up 7.27 points to 1,316.14.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Novartis (NYSE: NVS, Stock Forum)
Novartis said it plans to ship over 30 million doses of Fluvirin vaccine to US customers for 2011-2012 season with sufficient supply to meet customer demand. Early delivery allows for early vaccination of priority individuals, including seniors, pregnant women and those with chronic illnesses. Fluvirin vaccine is an inactivated influenza virus vaccine indicated for active immunization of persons 4 years of age and older against influenza disease caused by influenza virus subtypes A and type B contained in the vaccine2.
Arcan Resources Ltd. (TSX: V.ARN, Stock Forum)
Arcan Resources Ltd. has been made aware that Crescent Point Energy Corp. has acquired a total of 16,750,000 common shares of Arcan through market purchases, which represents approximately 19% of the total issued and outstanding common shares of Arcan on a non-diluted basis. Management views the interest shown by Crescent Point in purchasing Arcan shares, together with the other transactions relating to the Beaverhill Lake light oil resource play announced in Crescent Point's news release issued on July 14, 2011, as providing further evidence of the significant light oil development potential in the Beaverhill Lake zone in the Swan Hills area.