Today on Stockhouse
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Frank Holmes of U.S. Global Investors offers up three trends to watch for global investors.
Top Bullboards post: “First Majestic management is one of the best managers in this business. Coincidently I hold FM too. Not getting the multi-bagger as hoped but nice profit since I bought it recently. The one concern I had with SLX was their management, appeared to operate just like Hecla. Gave themselves a lot of stock options this March and do that every year. Dilution was a concern. Took them whole year just to get a 300tpd back up. Looked like they wanted to re-drill everything Genco did. FM can get this district up much faster and have the cash to do it. FM starts building mine without wasting time proving up reserves. Some companies spend years drilling to prove reserves before they even start building mine.” From Margret on the Argex Mining (TSX: V.RGX, Stock Forum) board.
Top Bullboard: Allana Potash (TSX: T.AAA, Stock Forum) gathered the most posts and the third-most reads.
Top blog:James54 takes a look at gold royalty companies in the miningstocksguide.com 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
"The market expects another round of easing, and each time they get a sign that it might not be the case, stocks sell off," said Paul Powers, head of equity trading at Raymond James, in an interview with CNNMoney.
| Selected expected U.S. earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| A. Schulman (NASDAQ: SHLM) |
Q2 |
$0.44 vs. $0.39 |
|
| Acuity Brands (NYSE: AYI) |
Q2 |
$0.62 vs. $0.45 |
|
| Mistras Group (NYSE: MG) |
Q3 |
$0.13 vs. $0.09 |
|
| Monsanto Co. (NYSE: MON) |
Q2 |
$2.12 vs. $1.87 |
|
| Northwest Pipe Co. (NASDAQ: NWPX) |
Q3 |
$0.44 vs. $0.07 |
|
| PriceSmart (NASDAQ: PSMT) |
Q2 |
$0.69 vs. $0.60 |
|
| Selected expected Canadian earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| 20-20 Technologies (TSX: T.TWT) |
Q1 |
$0.03 vs. $0.02 |
|
| Harry Winston Diamond ( TSX: T.HW) |
Q4 |
$0.18 vs. $0.12 |
|
|
|
Today In The Markets
TSX tumbles 183 points amid factory orders disappointment, Fed economic concerns
|
| DJIA |
13,199.55 |
-64.94 |
 |
|
| NASDAQ |
3,113.57 |
-6.13 |
|
|
| S&P500 |
1,413.38 |
-5.66 |
|
|
| S&P/TSX |
12,323.61 |
-183.45 |
|
|
| S&P/TSX Venture |
1,545.63 |
-24.16 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market tumbled Tuesday as the U.S. Federal Reserve delivered a glum warning while signalling little interest in laying on more stimulus to help the economic recovery.
The S&P/TSX composite index lost 183.44 points or 1.47 per cent to 12,323.61, surrendering all and much more of Monday's 115-point jump, while the TSX Venture Exchange dropped 25.51 points to 1,544.27.
The Dow Jones industrial average was down 64.94 points to 13,199.55. The Nasdaq composite index dropped 6.13 points to 3,113.57 and the S&P 500 index was down 5.73 points to 1,413.31.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Rio Novo Gold (TSX: T.RN, Stock Forum)
After Tuesday’s close, the gold junior reported results of a Preliminary Economic Assessment for its 100%-owned Almas Gold Project in Brazil. Measured & Indicated resources of 545,789 ounces and Inferred Resources of 32,983 ounces would be extracted by open pit mining, based on a US$1,100 per ounce gold pit-shell. The project would have initial capital expenditures of US$94.4 million with an expected after-tax Internal Rate of Return of 24.5%.