Today on Stockhouse
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Peter Kennedy reports on why junior mining needs Mitt Romney in his Stockhouse Movers & Shakers column.
Top Bullboards post: “Sure we do not have it over 400 m BUT think about where we are we have a microcap, that is double the cash position, 2,5 mill ounces gold and an update soon, compare this to Batero, so I think Seafield should double now!!!” From pharmacist78 on the Seafield Resources(TSX: V.SFF, Stock Forum) board.
Top Bullboard: Longford Energy (TSX: V.LFD, Stock Forum) received the second-most reads and posts on a day its stock popped more than 36%.
Top blog:balraj_rakhra says this gold junior is a top pick for 2012 in the Investment Ideas 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
"China, India, Latin America - that's where those companies have been really driving sales in the last few quarters," said John Butters, senior earnings analyst at FactSet, in an interview with Associated Press. "That's probably why you see (earnings expectations) for basic materials companies down quite a bit."
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| SYNNEX Corp. (NYSE: SNX) |
Q4 |
$1.14 vs. $1.04 |
|
Today In The Markets
TSX turns positive late in session after lacklustre day, commodities down
|
| DJIA |
12,392.69 |
+32.77 |
 |
|
| NASDAQ |
2,676.56 |
+2.34 |
 |
|
| S&P500 |
1,280.70 |
+2.89 |
|
|
| S&P/TSX |
12,196.72 |
+8.08 |
|
|
| S&P/TSX Venture |
1,527.48 |
+1.75 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market turned positive late session Monday after a day of lacklustre trading characterized by concerns about the global economy.
The S&P/TSX composite index gained eight points to 12,197 as traders weighed economic news ahead of the launch of U.S. earnings season with a report from Alcoa after markets closed.
On Wall Street, the Dow Jones industrials closed 33 points higher at 12,393. The Nasdaq composite index added two points to 2,677 and the S&P 500 index rose three points to 1,281.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Alcoa (NYSE: AA, Stock Forum)
Alcoa reported a loss from continuing operations of $193 million, or $0.18 per share, in fourth quarter 2011 on restructuring charges associated with the closure and curtailment of high-cost production capacity, lower aluminum prices, and continued market weakness. Excluding the net negative impact of restructuring and other special items, the loss from continuing operations was $34 million, or $0.03 per share. The fourth quarter 2011 loss compares to income of $258 million, or $0.24 per share, reported in fourth quarter 2010. Fourth quarter revenue of $25 billion, was up 19 percent over the equivalent year ago quarter.
Aurion Resources Ltd. (TSX: V.AU, Stock Forum)
Aurion Resources Ltd. announced the signing of a Letter of Intent with Golden Minerals Co. (TSX: T.AUM, Stock Forum) whereby Aurion will have the right to earn a 100% interest in the El Teyra and Rubi-Esmeralda gold projects in Mexico. The El Teyra property covers 2768 hectares in Zacatecas State located approximately 30 km west of Goldcorp Inc.'s (TSX: T.G, Stock Forum) multi-million ounce Penasquito gold-silver polymetallic deposit. The Rubi-Esmeralda project covers 4,030 hectares in Durango State, Mexico.