Today on Stockhouse
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Richard (Rick) Mills explains why he thinks gold is becoming a core banking asset.
Top Bullboards post: “The press release states PRE will loan CGX $30M immediately to provide CGX the necessary capital needs liquidity to pay off their remaining obligations for Eagle Shallow and see Jaguar through…So, in my opinion, everything hinders on Jaguar. If Jaguar hits - CGX shareholders will likely cancel the issuance of any new shares and merely just re-pay PRE the $30M loan at 13.75% interest. This is a good deal for CGX shareholders. Essentially, CGX is getting a $30M loan. How CGX is able to pay back PRE is dependent on Jaguar results.” From OIL_RUN on the CGX Energy (TSX: V.OYL, Stock Forum) board.
Top Bullboard: CGX Energy (TSX: V.OYL, Stock Forum) received the most reads and second-most posts on a day its stock popped more than 25%.
Top blog:thedave2006 outlines what he considers to be a decent gold play in Ghana in the Thedave2006 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
"Greece is the sideshow, Spain is the real story," said Barry Schwartz, vice president and portfolio manager at Baskin Financial Services, in an interview with Reuters. "Spain will be the next one to get the bailout and they need the help, because their 6.5 percent bond yields is not a good situation."
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Copart (NASDAQ: CPRT) |
Q3 |
$0.43 vs. $0.36 |
|
| Perfect World Co. (NASDAQ: PWRD) |
Q1 |
$4.64 vs. $0.76 |
|
| Sanderson Farms (NASDAQ: SAFM) |
Q2 |
$0.95 vs. $ - 0.56 |
|
| Selected expected Canadian earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Bank Of Nova Scotia (TSX: T.BNS) |
Q2 |
$1.15 vs. $1.10 |
|
|
Today In The Markets
Toronto stock market closes lower amid worries about Spanish bank sector
|
| DJIA |
12,454.83 |
N/A |
 |
|
| NASDAQ |
2,837.53 |
N/A |
|
|
| S&P500 |
1,317.82 |
N/A |
|
|
| S&P/TSX |
11,566.15 |
-10.32 |
 |
|
| S&P/TSX Venture |
1,325.01 |
+15.74 |
 |
|
TORONTO-NEW YORK (The Canadian Press) - - Worries about European banks left the Toronto stock market little changed.
The S&P/TSX composite index closed down 10.32 points at 11,566.15. The Canadian dollar was up 0.55 of a cent to 97.68 cents US.
U.S. markets were closed for the Memorial Day holiday.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Silvercorp Metals (TSX: T.SVM, Stock Forum)
After Monday’s close, the silver miner reported that production at its Ying Mine, in Henan, China will be interrupted for approximately five days in the current quarter as a result of power interruptions. The power interruptions are the result of work being done to relocate power lines in order to accommodate new highway construction.
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