Today on Stockhouse
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Dr. Mark Skousen of Investment U describes why he believes gold mining stocks are about to skyrocket...
Top Bullboards post: “Avino is now trading at ridiculously cheap levels. If the markets pull it together this could even be the last time it traded under 2$ … For 2012 Avino is estimated to produce 1.1 million ounces of silver. If we assume the price of silver to average around 40$ for 2012 we would have the following earnings:
40-10 (production cost) = 30$
Tax: estimation of 30%= 21$
1.1 (million ounces) x 21= 23.1 million USD
We are currently trading at a market cap of around 40 million USD! Therefore it would not be surprising to see this stock trade around 10$ next year.” From Oil_investor on the Avino Silver & Gold Mines (TSX: V.ASM, Stock Forum) board.
Top Bullboard:Allana Potash (TSX: T.AAA, Stock Forum) gathered the most posts and the second-most reads on a day its stock popped more than 15%.
Top blog:brujacman believes this graphite junior has “huge potential” in the Financial Choices by Onemansfinancial 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
"All these end-of-quarter issues are amplifying the moves that we've been seeing in stocks," said Paul Simon, chief investment officer at Tactical Allocation Group, in an interview with Reuters. "I don't have a lot of faith in the moves we've been seeing."
| Selected expected U.S. earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Family Dollar Stores (NYSE: FDO) |
Q4 |
$0.63 vs. $0.56 |
|
| Texas Industries (NYSE: TXI) |
Q1 |
$ - 0.26 vs. $ - 0.20 |
|
| Thor Industries (NYSE: THO) |
Q4 |
$0.61 vs. $0.78 |
|
| Selected expected Canadian earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Vecima Networks (TSX: T.VCM) |
Q4 |
$ - 0.07 vs. $ - 0.18 |
|
Today In The Markets
TSX closes higher for second day amid pledges to resolve European debt crisis
|
| DJIA |
11,190.69 |
+146.83 |
 |
|
| NASDAQ |
2,546.83 |
+30.14 |
|
|
| S&P500 |
1,175.38 |
+12.43 |
|
|
| S&P/TSX |
11,821.09 |
+113.90 |
 |
|
| S&P/TSX Venture |
1,570.43 |
+43.28 |
|
|
TORONTO (The Canadian Press) - The The Toronto stock market closed higher for a second day Tuesday as investors breathed a sigh of relief that a solution to the European debt crisis may finally be at hand, easing concerns that demand for Canadian commodities will take a hit.
However, the S&P /TSX composite index closed well off earlier highs but still closed up 113.91 points to 11,821.09 on top of a 244-point runup Monday while the junior TSX Venture Exchange was ahead 43.28 points to 1,570.43.
However, U.S. indexes also closed well below the session highs as the Dow Jones industrials closed up 146.83 points to 11,190.69. The Nasdaq composite index rose 30.14 points to 2,546.83 and the S&P 500 index gained 12.43 points to 1,175.38.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Jabil Circuit (NYSE: JBL, Stock Forum)
After Tuesday’s close, the contract electronics manufacturer reported a fiscal fourth-quarter profit of $114.3 million, or 52 cents a share, compared with profit of $58.7 million, or 27 cents a share, for the year-earlier period. Revenue rose to $4.28 billion from $3.86 billion. Adjusted income was 62 cents a share. Analysts expected earnings of 56 cents a share, on revenue of $4.19 billion.
WesternZagros Resources(TSX: V.WZR, Stock Forum)
The oil and gas explorer/developer, after Tuesday’s closing bell, said it has received approval to begin producing its first oil through an extended well test at its Sarqala-1 oil discovery in the Kurdistan Region of Iraq. Drilling at Mil Qasim-1, the company's third exploration well, is proceeding ahead of schedule.