Today on Stockhouse
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Peter Kennedy reports on why the Maple bid for the TMX is sparking monopoly concerns.
While Justin Dove of Investment U explains why he believes there is a rally ahead for Molycorp (MCP) and rare earth stocks.
Top Bullboards post: “Some bonanza grades here. Also good to see lower grade mineralization over longer intercepts. With these 4 holes out they have 14 more to go plus Sonora. My understanding is they were able to do 8300m in SE Yukon and hampered by snow. The snow is 2 feet deep and they closed the camp over the weekend. I understand they had trouble with nugget effect and may reprocess some of these holes as higher intercepts may be there based upon core observation. 20 and 30 meter intercepts are significant! My understanding is they are looking at this as a large geothermal event and somewhere there is the source. In these holes it doesn't look like they went below 200m.” From JGavin on the Northern Tiger Resources (TSX: V.NTR, Stock Forum) board.
Top Bullboard: Intertainment Media (TSX: V.INT, Stock Forum) received the most reads and posts on a day its share price slipped more than 9%.
Top blog:jerrio78 weighs in on high frequency trading in the Takeover Targets blog.
For news about small stocks that made big moves Tuesday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
“There’s always a concern about what is going to happen with Europe and how they are going to put together a deal that satisfies everyone. The bottom line is, investors in Greek paper shouldn’t be thinking about a haircut, they should be worried about getting scalped,” said Robert Pavlik, chief market strategist at Banyan Partners, in an interview with MarketWatch. “And, while earnings have been good, two big names came out with misses — 3M and Cummins — put that on top of the collapse of Netflix, and people are taking profits.”
| Selected expected U.S. earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| A. Schulman (NASDAQ: SHLM) |
Q3 |
$0.35 vs. $0.24 |
|
| ConocoPhillips (NYSE: COP) |
Q3 |
$0.47 vs. $0.37 |
|
| Tupperware Brands (NYSE: TUP) |
Q3 |
$0.83 vs. $0.64 |
|
| Visa (NYSE: V) |
Q4 |
$1.25 vs. $1.06 |
|
| Selected expected Canadian earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Agnico-Eagle Mines (TSX: T.AEM) |
Q3 |
$0.63 vs. $0.48 |
|
| Goldcorp ( TSX: T.G) |
Q3 |
$0.55 vs. $0.31 |
|
| FirstService (TSX: T.FSV) |
Q3 |
$0.74 vs. $0.61 |
|
Today In The Markets
TSX lower as hopes for Europe debt deal falter, BoC warns of slowing economy
|
| DJIA |
11,706.62 |
-207.00 |
 |
|
| NASDAQ |
2,638.42 |
-61.02 |
|
|
| S&P500 |
1,229.05 |
-25.14 |
|
|
| S&P/TSX |
12,109.75 |
-52.53 |
|
|
| S&P/TSX Venture |
1,565.45 |
+5.12 |
 |
|
TORONTO, NEW YORK (CP) - The Toronto stock market was little changed Tuesday with investors cautious amid weak earnings reports and a warning from the Bank of Canada of slowing economic conditions while keeping its key interest rate unchanged at one per cent.
The S&P/TSX composite index was down 52.54 points to 12,109.75 and the TSX Venture Exchange was up 5.12 points at 1,565.45.
New York markets tumbled as the Dow Jones industrial index fell 207 points to 11,706.62, the Nasdaq composite index dropped 61.02 points to 2,638.42 and the S&P 500 index declined 25.14 points to 1,229.05.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
The Western Union Co. (NYSE: WU, Stock Forum)
The Western Union Co. reported financial results for the 2011 third quarter. Revenue of $1.4 billion marked an increase of 6% compared to $1.33 billion in last year’s third quarter. Earnings of $239.7 million or $0.38 per share, or $0.40 excluding restructuring expenses, compared to $238.4 million or $0.36 in the prior year, or $0.37 in the prior year excluding restructuring expenses
Geodex Minerals Ltd. (TSX: V.GXM, Stock Forum)
Geodex Minerals Ltd. announced that it will proceed with a non-brokered private placement of up to five million units of Geodex at $0.10 per Unit. Each Unit will be comprised of one common share and one-half share purchase warrant (a "Warrant"). Each full Warrant is exercisable into one Geodex common share at $0.15 per share for a period of 18 months from the closing date. Geodex may accelerate the expiry date of the Warrants in the event Geodex's shares close at or above a price of 25 cents per share for 20 consecutive trading days on the TSX Venture Exchange. Proceeds from the private placement will be used for general corporate purposes.