Today on Stockhouse
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Willem Weytjens explains why he believes platinum is the "cheapest" of the precious metals.
Top Bullboards post: “The problem is that the cash flow has not yet caught up with the investment. I think this is frustrating analysts like Alistair Toward from PI Financial, and you could hear it in his voice on the SECOND quarter conference call. His view is probably that he has given Nimin enough time to become profitable. Excuses like "much of our expense is coming from rental equipment" are getting old. And, if they can't make money at $100 oil, when will they make money? Of course, Nimin's reply to this is that the last expense that they are spending, drilling, has rates of return of over 50%, so if they can just drill enough, then they will cash flow pretty well. They have come this far, all that is left is that one final expenditure to get the gravy. But, if you believe that Nimin's proved producing assets are worth $1.40 per share (and there is little reason to think otherwise), then Nimin is a great value at these numbers, and management is creating more every day. Nimin could get some of its fields to proven-producing, and then sell them to take out all of the debt, and they will have plenty left over.” From bobgrant10 on the NiMin Energy (TSX: T.NNN, Stock Forum) board.
Top Bullboard: Intertainment Media (TSX: V.INT, Stock Forum) received the most reads and posts.
Top blog: balraj_rakhra argues that a positive PEA will lead to significant gains for speculators in this gold junior in the Investment Ideas blog.
For news about small stocks that made big moves Friday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"People are just wary to commit heavily to the market if you've got a particular day that no particular good news came out over the weekend anywhere -- there is virtually no good news and several data points were negative," said Rick Bensignor, chief market strategist at Merlin Securities, in an interview with Reuters.
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Campbell Soup Co. (NYSE: CPB) |
Q1 |
$0.79 vs. $0.82 |
|
| Chico's FAS (NYSE: CHS) |
Q3 |
$0.20 vs. $0.16 |
|
| Fred's, Inc. (NYSE: HPQ) |
Q3 |
$0.22 vs. $0.20 |
|
| Signet Jewelers (NYSE: SIG) |
Q3 |
$0.21 vs. $0.07 |
|
| Selected expected Canadian earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| George Weston (TSX: T.WN) |
Q3 |
$1.41 vs. $1.32 |
|
Today In The Markets
Toronto Stock Exchange closes 100 points lower on U.S., Europe debt woes
|
| DJIA |
11,547.31 |
-248.85 |
 |
|
| NASDAQ |
2,523.14 |
-49.36 |
|
|
| S&P500 |
1,192.98 |
-22.67 |
|
|
| S&P/TSX |
11,784.72 |
-107.72 |
|
|
| S&P/TSX Venture |
1,555.02 |
-52.65 |
|
|
(The Canadian Press) TORONTO-NEW YORK - The Toronto Stock Exchange closed with a triple digit loss Monday, but pared back earlier losses, as commodity prices weakened amid growing doubts the U.S. and Europe will solve their budget problems.
The S&P/TSX composite index shed 107.76 points to 11,784.68, coming back from an earlier slide of more than 200 points. The mining and energy indices led the TSX lower, down 1.7 per cent, due to a sell-off of oil, gold and copper. The junior venture exchange slid 52.66 points to 1,555.02.
U.S. equities saw big drops amid reports a congressional committee has failed to agree on a plan to cut the U.S. government's budget deficit.
The Dow Jones industrial average was down as much as 342 points after the special committee of Congress assigned to come up with $1.2 trillion in deficit cuts over 10 years indicated there would be no deal.
The Dow later closed off 248.85 points to 11,547.31 and the Nasdaq fell 49.36 points to 2,523.14. The S&P index lost 22.67 points to 1,192.98.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Hewlett-Packard Co.(HP) (NYSE: HPQ, Stock Forum)
reported its financial results for the fourth quarter and full year of 2011. The company posted GAAP net revenue in the fourth quarter of $32.1 billion, down from $33.3 billion a year earlier. The company posted GAAP net earnings of $0.2 billion or 12 cents a share, compared to $2.5 billion or $1.10 per share in the year earlier period.
Fairfax Financial Holdings Ltd. (TSX: T.FFH, Stock Forum)
announced today that it has acquired, through its subsidiaries, 500,000 common shares of MEGA Brands Inc. bringing its total holdings in MEGA Brands to 3,381,000 common shares or approximately 20.7% of the total common shares outstanding. The common shares were purchased through the facilities of the Toronto Stock Exchange for investment purposes pursuant to the normal course purchase exemption of applicable Canadian securities laws. Fairfax also owns or controls, in the investment portfolios of its insurance subsidiaries, 56,408,000 common share purchase warrants of Mega Brands, exercisable for an additional 2,820,400 common shares. Assuming the exercise of all such warrants by Fairfax and no exercise of warrants by any other warrant holders, Fairfax would own or control, in the investment portfolios of its insurance subsidiaries, 6,201,400 common shares representing approximately 32.3% of the total common shares outstanding.