Today on Stockhouse
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Jeff Clark of Casey Research discusses whether central bank gold buying is signaling that the top for the precious metal is near.
Top Bullboards post: “Important note - Jaguar (if a discovery) will be developed in shallow water, not deepwater - which should drastically reduce development costs and timeline for first oil in comparison to Jubilee or Zaedyus. Surely this would have to put us north of $6.2/boe. GMP (another expert) placed a $8.6 price target on Jaguar in the event of a 700mmboe discovery. Let's do the math here and put previous known variables (when this report was published by GMP) to see what type of valuation they put on Jaguar on a $/boe basis - in the event Jaguar is a discovery. So… $8.60 * 343 share out (as this was the un-risked target price GMP issued on December 2011) = $2.95B Market Cap for CGX; $2.95B Market Cap / 175mmboe (175mmboe = 700mmboe * .25) = $16.85/boe.” From OIL_RUN on the CGX Energy (TSX: V.OYL, Stock Forum) board.
Top Bullboard: CGX Energy (TSX: V.OYL, Stock Forum) received the second-most reads and third-most posts on a day its share price slid more than 38%.
Top blog:thedave2012 believes this energy junior is a takeover target.
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
“If we’re going to look for improvement in the equity market we have to see the dollar stop going up every day,” said Ken Tower, senior analyst at Quantitative Analysis Service, in an interview with MarketWatch. “To the extent it’s because people are afraid to put their money anywhere else, that’s not so great.”
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Comerica Incorporated (NYSE: CMA) |
Q2 |
$0.62 vs. $0.53 |
|
| CSX Corp. (NYSE: CSX) |
Q2 |
$0.47 vs. $0.46 |
|
| Goldman Sachs Group (NYSE: GS) |
Q2 |
$1.13 vs. $1.85 |
|
| Intel Corporation (NASDAQ: INTC) |
Q2 |
$0.52 vs. $0.54 |
|
| The Coca-Cola Company (NYSE: KO) |
Q2 |
$1.19 vs. $1.17 |
|
| Yahoo! (NASDAQ: YHOO) |
Q2 |
$0.23 vs. $0.18 |
|
| Selected expected Canadian earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Aastra Technologies (TSX: T.AAH) |
Q2 |
$0.52 vs. $0.43 |
|
Today In The Markets
TSX closes little changed, weak economic data raises hopes for more stimulus
|
| DJIA |
12,727.21 |
-49.88 |
 |
|
| NASDAQ |
2,896.94 |
-11.53 |
|
|
| S&P500 |
1,353.64 |
-3.14 |
|
|
| S&P/TSX |
11,521.18 |
+6.65 |
 |
|
| S&P/TSX Venture |
1,183.35 |
-3.61 |
|
|
TORONTO-NEW YORK (The Canadian Press) - - The Toronto stock market closed little changed Monday with gains limited amid a big disappointment in U.S. retail sales and a revision to Chinese growth expectations, which elevated worries about the global economy.
The S&P/TSX composite index was 6.65 points higher to 11,521.18 and the TSX Venture Exchange was down 3.6 points to 1,183.35.
The Dow Jones industrials dropped 49.88 points to 12,727.21, the Nasdaq composite index dipped 11.53 points to 2,896.94 while the S&P 500 index declined 3.14 points to 1,353.64.
Please click here for the complete U.S. and Canadian market summaries.
Lucara Diamond (TSX: T.LUC, Stock Forum)
After Monday’s close, the diamond junior reported the sale of 36,353 carats of Karowe diamonds from its second diamond auction for gross total proceeds of US$6.5 million. The company added that in less than four months since its first ore run its diamonds have brought in revenue of more than $12 million.