Today on Stockhouse
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Jeff Clark of Casey Research examines the prognosis for gold stocks and discusses the catalyst for the group to move sharply higher.
Top Bullboards post: “To be convincing, they need 43-101 assayed drill results. I don't really trust chip samples. It leaves too much room to be very selective. And I'm not sure how they get the length of 4 meters with chip samples. You need a core for that. So, until they produce 43-101 compliant core samples, I don't see much movement in the share price.” From jumanji0881 on the Condor Resources (TSX: V.CN, Stock Forum) board.
Top Bullboard:Silvercorp Metals (TSX: T.SVM, Stock Forum) received the most reads and the second-most posts on a day its share price slipped more than 19%.
Top blog: littleguy123 writes about what he considers the new bankers’ weapon against gold/silver in the Outside the Market blog.
For news about small stocks that made big moves in Tuesday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
“Right now you have to think about Greece as a binary event, like a biotech company in phase three development, they are either going to make it or they are not, and it’s up to Germany,” said Arthur Hogan, head of product strategy, equity research at Lazard Capital Markets, in an interview with MarketWatch. “As near as we can, we’re fairly valued for the information we have at hand, but this is the first time where there is no kicking the can down the road.”
| Selected expected U.S. earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Apogee Enterprises (NASDAQ: APOG) |
Q2 |
$ - 0.04 vs. $ - 0.18 |
|
| CLARCOR (NYSE: CLC) |
Q3 |
$0.66 vs. $0.55 |
|
| Origin Agritech (NASDAQ: SEED) |
Q3 |
$0.75 vs. $0.59 |
|
| Pall Corp. (NYSE: PLL) |
Q1 |
$0.71 vs. $0.62 |
|
| Selected expected Canadian earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| AlarmForce Industries (TSX: T.AF) |
Q3 |
$0.08 vs. $0.08 |
|
| Dollarama ( TSX: T.DOL) |
Q2 |
$0.45 vs. $0.37 |
|
Today In The Markets
TSX closes higher for second time this month, commodities regain ground
|
| DJIA |
11,105.85 |
+44.73 |
 |
|
| NASDAQ |
2,532.15 |
+37.06 |
|
|
| S&P500 |
1,172.87 |
+10.60 |
|
|
| S&P/TSX |
12,205.48 |
+56.65 |
 |
|
| S&P/TSX Venture |
1,761.29 |
+15.76 |
|
|
Toronto & New York (The Canadian Press) - The Toronto stock market closed in positive territory Tuesday for only the second time this month, as commodity prices rose and investors seized a buying opportunity following a big selloff Monday.
The S&P /TSX composite index gained 56.65 points to 12,205.48, with most of the main sectors in positive territory after turning around earlier losses.
The TSX Venture Exchange added 15.76 points to 1,761.29.
Wall Street markets closed higher despite data that showed an index of small business activity from the National Federation of Independent Business dropped to a 13-month low in August. The NFIB said companies surveyed had weaker expectations for sales and a bleaker view of the overall economy.
The Dow Jones industrial average added 44.73 points to 11,105.85, while the broader Standard & Poor's index added 10.6 points to 1,172.87 and the Nasdaq index gained 37.06 points to 2,532.15.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Amazon.com, Inc.(NASDAQ: AMZN, Stock Forum)
Amazon.com, Inc. and Hearst Corp. announced that the two companies have entered into an expanded, multi-faceted consumer marketing, e-commerce and content relationship. Amazon will become Hearst's single-largest third-party seller of print subscriptions for its magazines via digital channels and will work with Hearst in e-commerce. The deal gives Amazon customers access to content from one of the world's largest publishers of monthly magazines and provides Hearst access to Amazon's growing and evolving e-commerce platform.
RX EXPLORATION INC. (TSX: V.RXE, Stock Forum)
RX EXPLORATION INC. announced the grant of stock options to certain officers, employees and consultants of the Company. A total of 1,100,000 stock options were granted pursuant to the terms of the Company's stock option plan: 600,000 were granted to senior officers (other than the Chief Executive Officer); 200,000 were granted to employees; and 300,000 were granted to a consultant. All options vest immediately and have a strike price of $0.55 (the RXE closing price on the date prior to the grant). One-third of the options will have a term of two years, and the balance will have a term of five years.