Today on Stockhouse
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Peter Kennedy reports on a Vancouver miner that is backing a $3 billion takeover deal.
While Peter Krauth of Money Morning suggests there’s a gold price conspiracy Uncle Sam doesn't want you to know about.
Top Bullboards post: “Too many variables to say, but am throwing this out for consideration - We now have 500mil. sh. fd . At $35oz. - $10oz. COP we net $25oz. on say 5mil. oz.'s = $125 mil, or .25/sh. At a P/E of 10, that's $2.50. But some of the silver producers trade for more like at a P/E of 20, so that would be maybe five bucks. At $60 silver - $10COP = $50/oz. net on 5mil. oz.'s that's .50/oz., at a P/E of 10, 5 bucks, and 10 bucks at a P/E of 20. I'd like to be more optimistic, but as the share count rises, the math is that the upside price decreases per the profit allocation per share factor.” From waldipup on the Aurcana Corp. (TSX: V.AUN, 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 7%.
Top blog: coffintrader discusses whether Coeur D'Alene made a big mistake in the WallStreet Investing 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
“Hopes are running high for something concrete to come out of the EU summit on Friday,” Elliot Spar, market strategist at Stifel, Nicolaus & Co., wrote in emailed comments, and reported by MarketWatch. Though he added: “Somehow, the word ‘concrete’ and anything related to the European crisis looks like it shouldn’t be in the same sentence.”
| Selected expected U.S. earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| G-III Apparel Group (NASDAQ: GIII) |
Q3 |
$2.14 vs. $2.16 |
|
| Greif, Inc. (NYSE: GEF) |
Q4 |
$0.61 vs. $1.51 |
|
| Innovative Solutions & Support (NASDAQ: ISSC) |
Q4 |
$0.05 vs. $0.07 |
|
| Lakeland Industries (NASDAQ: LAKE) |
Q3 |
$0.05 vs. $0.12 |
|
| Verint Systems (NASDAQ: VRNT) |
Q3 |
$0.61 vs. $0.92 |
|
| Selected expected Canadian earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Dollarama (TSX: T.DOL) |
Q3 |
$0.52 vs. $0.42 |
|
Today In The Markets
TSX down amid talk of expansion of European bailout fund, BMO earnings
|
| DJIA |
12,150.13 |
+52.30 |
 |
|
| NASDAQ |
2,649.56 |
-6.20 |
 |
|
| S&P500 |
1,258.47 |
+1.39 |
|
|
| S&P/TSX |
12,081.25 |
-38.08 |
|
|
| S&P/TSX Venture |
1,542.69 |
-10.66 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market closed lower Tuesday as news of a possible expansion of the eurozone bailout fund helped to temper another helping of bad news for Europe from ratings agency Standard & Poor's.
The S&P/TSX composite index gave back 38.08 points to close at 12,081.25 with pressure also coming from the financial sector in the wake of an earnings disappointment from Bank of Montreal (TSX: T.BMO, Stock Forum).
The TSX Venture Exchange lost 10.66 points to 1,542.69.
New York's Dow Jones industrial average climbed 52.3 points to 12,150.13.
The Nasdaq composite index lost 6.2 points to 2,649.56 the S&P 500 index was 1.39 points higher to 1,258.47.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Men’s Wearhouse (NYSE: MW, Stock Forum)
Men’s Wearhouse reported its consolidated financial results for the third quarter ending October 29, 2011. Sales in the quarter rose to $584.6 million from $550 million a year earlier. fiscal 2011 third quarter results. Net earnings in the period rose 6.8% to $39.9 million or 77 cents from $25.3 million or 47 cents.
STRATHMORE MINERALS CORP. (TSX: T.STM, Stock Forum)
STRATHMORE MINERALS CORP. announced that it is continuing to work with the British Columbia Securities Commission ("BCSC") in connection with the BCSC's "limited technical disclosure" review of the Company's technical reports for Gas Hills and Church Rock, which was previously announced on August 19, 2011. After extensive review of the Technical Report on the Gas Hills Uranium Project, Fremont and Natrona Counties, Wyoming dated July 20, 2011 and consultation with the BCSC, the Company has determined to engage a new technical report author to prepare a new technical report on the Gas Hills project. The Company is continuing to work with the authors of the Scoping Study of the Strathmore Resources (US Ltd.) Church Rock Deposit McKinley County, New Mexico USA to ensure that the report is fully NI 43-101 compliant.