Today on Stockhouse
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Marin Katusa of Casey Research debates whether the Bears or Bulls are correct about commodities.
Top Bullboards post: “7.5 grams Gold over 115m is simply impressive. Should be noted that it also starts at 31m deep so it's near surface as well.” From coffintrader on the CB Gold (TSX V.CBJ, Stock Forum) board.
Top Bullboard: Intertainment Media (TSX: V.INT, Stock Forum) received the most reads and posts.
Top blog:littleguy123 explains why he believes the silver price is being manipulated in the Outside the Market blog.
For news about small stocks that made big moves Monday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"Investors are starting to get the sense that European governments are finally starting to get serious and have developed a sense of urgency to fix their problems," said Phil Orlando, chief equity strategist at Federated Investors, in an interview with Associated Press. "The focus is turning back to U.S. fundamentals, which have improved sharply over the last three weeks."
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| 3M Co. (NYSE: MMM) |
Q3 |
$1.61 vs. $1.53 |
|
| Amazon.com (NASDAQ: AMZN) |
Q3 |
$0.24 vs. $0.51 |
|
| Coach (NYSE: COH) |
Q1 |
$0.70 vs. $0.63 |
|
| RailAmerica (NYSE: RA)) |
Q3 |
$0.22 vs. $0.18 |
|
| United Parcel Service (NYSE: UPS) |
Q3 |
$1.05 vs. $0.93 |
|
| Xerox Corp. (NYSE: XRX) |
Q3 |
$0.25 vs. $0.22 |
|
| Selected expected Canadian earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Canadian National Railway (TSX: T.CNR) |
Q3 |
$1.31 vs. $1.19 |
|
| Canadian Pacific Railway ( TSX: T.CP) |
Q3 |
$1.11 vs. $1.21 |
|
| Progressive Waste Solutions (TSX: T.BIN) |
Q3 |
$0.32 vs. $0.26 |
|
Today In The Markets
Hopes for European debt plan, strong Chinese data sends stock markets higher
|
| DJIA |
11,913.62 |
+104.83 |
 |
|
| NASDAQ |
2,699.44 |
+61.98 |
|
|
| S&P500 |
1,254.19 |
+15.94 |
|
|
| S&P/TSX |
12,162.28 |
+212.79 |
|
|
| S&P/TSX Venture |
1,560.33 |
+27.42 |
|
|
TORONTO, NEW YORK (CP) - The Toronto stock market jumped about 200 points Monday, led by resource stocks that surged after European leaders pledged to unveil concrete steps to deal with the region's debt crisis by mid-week.
A jump of more than seven per cent in the mining group helped send the S&P/TSX composite index up 212.79 points to 12,162.28, as commodity prices were also supported by strong Chinese economic data.
The TSX Venture Exchange rose 27.42 points to 1,560.33.
Positive earnings from heavy equipment maker Caterpillar helped push U.S. markets sharply higher as the Dow Jones industrial index gained 104.83 points to 11,913.62.
The Nasdaq rose 61.98 points to 2,699.44 while the S&P 500 index was up 15.94 points to 1,254.19.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Texas Instruments Inc. (NYSE: TXN, Stock Forum)
Texas Instruments Inc. announced third-quarter revenue of $3.47 billion, net income of $601 million and earnings per share of 51 cents. EPS includes 9 cents in charges associated with the company's acquisition of National Semiconductor. That compares to year ago revenue of $3.74 billion, net income of $859 million and earnings per share of 71 cents.
Probe Mines Ltd. (TSX: V.PRB, Stock Forum)
Probe Mines Ltd. announced that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on a bought deal basis by way of private placement, 2,100,000 flow-through common shares (the "Flow-Through Common Shares") of the Company, at a price of C$2.45 per Flow-Through Common Share for gross proceeds of C$5,145,000. In addition, the Company has also granted the underwriters an option, exercisable up to 48 hours prior to the closing of the offering, to purchase up to an additional 4,100,000 Flow-Through Common Shares for gross proceeds of C$10,045,000.