Today on Stockhouse
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Jeb Handwerger discusses what he considers to be a rare contrarian opportunity in uranium miners.
Top Bullboards post: “The last results were more of the same…though the mineralization looks to be thinning out in the SW direction…mention of the dykes again might be worrisome to some imho...though TRR mentions this is not really material…it might get one to question the earlier resource calcn. Right now TRR has around 6 million ounces (cote lake - 4.3 m, chester 0.5 million and the augen lands 1.0 m). The drilling since the spring will add at least 2.5 to cote lake and it’s still open…TRR will have over 8.5 m ounces and it’s still open in all directions. I thought I read somewhere that the geophysics look strong in the south direction and that the cote lake deposit moved from a SW direction to S? Anyone else remember this? Would like to see some drill results from there if so. Price appears cheap now…less than when they announced the 4.3 million ounces and all we've done since then is expand the deposit. Still look like room for good upside from here. +100%.” From letsgetready on the Trelawney Mining and Exploration (TSX: V.TRR, Stock Forum) board.
Top Bullboard: Connacher Oil and Gas (TSX: T.CLL, Stock Forum) received the most reads and the second-most posts on a day its share price slipped more than 13%.
Top blog: littleguy123 writes about what he calls the Land of Anti-Gold Propaganda in the Outside the Market 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
“Patience with the economic cycle is and has not been one of the characteristics of the Fed,” said Peter Boockvar, equity strategist at Miller Tabak, in interview with MarketWatch, who also noted The Federal Open Market Committee statement left “open the possibility” of a third round of quantitative easing.
| Selected expected U.S. earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Joy Global (NYSE: JOY) |
Q4 |
$1.86 vs. $1.39 |
|
| VeriFone Systems (NYSE: PAY) |
Q4 |
$0.51 vs. $0.40 |
|
| Selected expected Canadian earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Coastal Contacts (TSX: T.COA) |
Q4 |
N/A vs. $0.02 |
|
Today In The Markets
Toronto stock market closes lower on U.S. economic worries, European debt crisis
|
| DJIA |
11,954.94 |
-66.45 |
 |
|
| NASDAQ |
2,579.27 |
-32.99 |
|
|
| S&P500 |
1,225.73 |
-10.74 |
|
|
| S&P/TSX |
11,759.94 |
-147.95 |
|
|
| S&P/TSX Venture |
1,458.43 |
-32.49 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market closed lower Tuesday as traders took in a sobering look at economic conditions from the U.S. Federal Reserve.
Another round of worry about the European government debt crisis also pressured markets.
The S&P/TSX composite index tumbled 147.95 points to 11,759.94 while the TSX Venture Exchange was down 32.49 points to 1,458.43.
The Dow industrials fell 66.45 points to 11,954.94, the Nasdaq lost 32.99 points to 2,579.27 and the S&P 500 index was down 10.74 points to 1,225.73.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
The Oil-Dri Corp. of America (NYSE: ODC, Stock Forum)
The Oil-Dri Corp. of America board of directors has declared quarterly cash dividends of $0.17 per share of the Company's Common Stock and $0.1275 per share of the Company's Class B Stock. The dividends will be payable on March 9, 2012, to stockholders of record at the close of business on February 24, 2012. The company has paid cash dividends continuously since 1974.
St. Eugene Mining Corp. Ltd. (TSX: V.SEM, Stock Forum)
St. Eugene Mining Corp. Ltd. announces that it has received an interim order of the Supreme Court of British Columbia with respect to its previously announced plan of arrangement, pursuant to which Claude Resources Inc. (TSX: T.CRJ, Stock Forum) will acquire all of the issued and outstanding common shares of St. Eugene. On October 25, 2011, St. Eugene announced the Arrangement, whereby each shareholder of St. Eugene will receive 0.0789 of a common share of Claude and 0.25 common shares of a newly formed company, Satori Resources Inc., in respect of each St. Eugene share held. St. Eugene will transfer to Satori its interest in the Tartan Lake Gold Mine Project and approximately $800,000 in cash. Assuming St. Eugene shareholders approve the Arrangement, Satori will seek approval to list its common shares for trading on the TSX Venture Exchange.