The TSX finished with a triple-digit gain Monday, led by higher oil and gold, although a RIM shakeup sparked a tech sector tumble.
Today on Stockhouse
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Chris Ackerman explains why he believes platinum is a 'precious' metal.
Top Bullboards post: “I can't help but scratch my head at this one and the irrationality of the general markets sometimes. SSP is trading for around $17 an oz right now. GUY being further along in the permitting process is trading at $110 an oz. Yes GUY has a project that is further along the path with permits in hand but that spread is pretty large if you ask me. I think SSP has a LOT of room to move here. Even at the $2.50 level SSP is still only $30 an oz in the ground which is almost a double from here.” From Empire82 on the Sandspring Resources (TSX: V.SSP, Stock Forum) board.
Top Bullboard: Ithaca Energy (TSX: T.IAE, Stock Forum) received the second-most reads and the third-most posts.
Top blog: littleguy123 discusses what he considers to be the ‘perils’ of a gold standard in the Outside the Market 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
"This is the momentum trade. The market got out of gates very strong this year," said Peter Kenny, managing director at Knight Capital, in an interview with Reuters. "Earnings have been very cooperative in terms of keeping the tone positive. Macroeconomic data out of Washington has remained slightly better than expected, the employment numbers have helped. There are a lot of parts to this puzzle that are supporting a positive tone and a constructive internal character to the market."
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Apple (NASDAQ: AAPL) |
Q1 |
$10.07 vs. $6.43 |
|
| Harley-Davidson (NYSE: HOG) |
Q4 |
$0.23 vs. $ - 0.18 |
|
| McDonald's (NYSE: MCD) |
Q4 |
$1.29 vs. $1.16 |
|
| Peabody Energy (NYSE: BTU) |
Q4 |
$1.30 vs. $0.85 |
|
| Waters Corporation (NYSE: WAT) |
Q4 |
$1.50 vs. $1.38 |
|
| Yahoo! Inc. (NASDAQ: YHOO) |
Q4 |
$0.24 vs. $0.24 |
|
| Selected expected Canadian earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Canadian National Railway (TSX: T.CNR) |
Q4 |
$1.25 vs. $1.08 |
|
|
Today In The Markets
TSX up amid rising commodities; RIM shares slide 9% despite management shakeup
|
| DJIA |
12,708.82 |
-11.66 |
 |
|
| NASDAQ |
2,784.17 |
-2.53 |
|
|
| S&P500 |
1,316.00 |
+0.62 |
 |
|
| S&P/TSX |
12,521.70 |
+124.60 |
|
|
| S&P/TSX Venture |
1,588.91 |
+17.57 |
|
|
TORONTO-NEW YORK (The Canadian Press) - The Toronto stock market closed higher Monday amid rising energy and financial stocks but was weighed down by a slide of more than nine per cent in Research In Motion Ltd. shares.
The S&P/TSX composite index was ahead 124.61 points to 12,521.7 while the TSX Venture Exchange rose 17.58 points to 1,588.91.
The Dow industrials was down 11.66 points to 12,708.82. The Nasdaq slipped 2.53 points to 2,784.17 and the S&P 500 futures added 0.62 of a point to 1,316.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Texas Instruments (NYSE: TXN, Stock Forum)
After Monday’s close, the company reported that fourth-quarter revenue rose to $3.42 billion with earning per share of 48 cents, excluding some costs. Analysts expected revenue of $3.25 billion and a 39 cents per share profit. For the current quarter, the company sees revenue in a range of $3.02 billion to $3.28 billion, and profit per share of 16 cents to 24 cents. That is below analysts’ average estimate of $3.22 billion and 32 cents.
Almaden Minerals (TSX: T.AMM, Stock Forum)
The junior explorer, after Monday’s closing bell, announced results from the 2011 drilling program on its 100% owned Tuligtic project in Mexico, which included 163.45 meters @ 1.27 g/t gold and 61.6 g/t silver (2.5 g/t gold equivalent).
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