Today on Stockhouse
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TickerTrax’s Danny Deadlock reports on micro cap valuations, which continue to plunge.
Top Bullboards post: “Not exactly nel12 - the company indicated an 'aggregate total of all zones'. This is not a conventional way of expressing flow rates, in my view. Each zone can produce at different pressures and rates. If all the oil was comingled, some zones could over power others (back them out) and, in fact, could infiltrate lower pressure zones and actually result in reduced overall production rates! So the 'aggregate total' is not what the well could produce. If the completions were dual completions and each zone could produce individually, independent of the other - then one gets 'all' of that zones production potential. Or, various drills into different zones. Or, you only perforate those zones you wish to produce from and later on, can re-perforate and produce from upper or lower or lower pressure zones, etc… and isolate other zones and/or portions of other zones. What I do like is the great result from the acid job (stimulation) which I feel will most definitely be applicable to Kurdamir 2. I am of the opinion that WZR/TLM would be 'weighting up' the drilling mud quite a bit to lessen the risks of a well control incident. This, however, also causes more formation 'damage' by causing drilling fluids to infiltrate the producing zones. From a well test, this 'skin effect' can be determined and removed by various stimulation techniques. Wells can respond very nicely to such stimulations. Stimulations require a lot of planning and preparation and different equipment, so in due course, am confident that WZR will do the same and hopefully result in enhanced production rates.” From sanddevil on the WesternZagros Resources (TSX: V.WZR, Stock Forum) board.
Top Bullboard: Baja Mining (TSX: T.BAJ, Stock Forum) received the second-most reads and posts on a day its stock price sank more than 37%.
Top blog:cmunny provides some technical analysis on some precious metal stocks in the Economics and Political Articles 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
"Europe is driving the boat right now, and there's no reason to think that investor anxiety will dissipate any time soon," said Joe Cogan, vice president of international equities at Topeka Capital Markets, in an interview with Reuters. "In addition, the market has been due for a pullback, and I think we could see another two to three percent of downside before investors come back in the market."
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| 3M Co. (NYSE: MMM) |
Q1 |
$1.49 vs. $1.49 |
|
| Apple Inc. (NASDAQ: AAPL) |
Q2 |
$10 vs. $6.40 |
|
| Baidu (NASDAQ: BIDU) |
Q1 |
$0.84 vs. $0.47 |
|
| Coach, Inc. (NYSE: COH) |
Q3 |
$0.75 vs. $0.62 |
|
| Duff & Phelps (NYSE: DUF) |
Q1 |
$0.21 vs. $0.16 |
|
| Western Union Company (NYSE: WU) |
Q1 |
$0.40 vs. $0.35 |
|
| Selected expected Canadian earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Celestica (TSX: T.CLS) |
Q1 |
$0.22 vs. $0.25 |
|
| FirstService ( TSX: T.FSV) |
Q1 |
$0.19 vs. $0.14 |
|
|
Today In The Markets
TSX closes lower as uncertainty over European economy takes spotlight
|
| DJIA |
12,927.17 |
-102.09 |
 |
|
| NASDAQ |
2,970.45 |
-30.00 |
|
|
| S&P500 |
1,366.94 |
-11.59 |
|
|
| S&P/TSX |
11,988.95 |
-158.33 |
|
|
| S&P/TSX Venture |
1,371.03 |
-26.92 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market closed Monday with a triple-digit loss as concerns about the European economy's debt crisis spread around the globe.
The S&P/TSX composite index ended the session down 1.3 per cent, or 158.18 points at 11,989.10, with all major sectors weaker. Earlier in the day the TSX had fallen as much as 1.9 per cent, marking its biggest drop since December.
The TSX Venture Exchange slid 26.92 to 1,371.03.
On Wall Street, the Dow Jones industrial average fell 102.09 points to 12,927.17, the Nasdaq was down 30 points at 2,970.45 and the S&P 500 index dropped 11.59 points to 1,366.94.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Netflix (NASDAQ: NFLX, Stock Forum)
After Monday’s close, the online video provider said it lost $4.58 million, or eight cents a share, in its first quarter. In the same period last year, it earned $60.23 million, or $1.11 a share. Revenue rose to $870 million from $718.5 million. Analysts expected a loss of 27 cents a share on revenue of $866 million. The company, however, did not exceed its first-quarter domestic streaming subscriber forecast and its stock lost 14% in after-hours trading.
Methanex (TSX: T.MX, Stock Forum)
The methanol supplier, after Monday’s closing bell, said has entered into a long-term offtake agreement with Orascom Construction Industries for a significant portion of the production from its methanol plant in Beaumont, Texas, which is expected to begin commercial production in June 2012.
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