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Stockhouse @ the Bell: Stocks up as RIM jumps

Stockhouse Editorial
0 Comments| October 26, 2010

Today on Stockhouse

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Ticker Trax’s Thom Calandra explains why investors should take notice of iron ore & Brazil.

This as Marc Davis of describes how 'Peak Phosphate' could spell the end of cheap food.

Top Bullboards post: “This all makes perfect sense to me.  If you read the FS they clearly stated they expect funding to be in place in the next couple of months, and they also expected EPA approval soon.  The closer this comes to an operating mine the more attention this company gets...  It's all good.  10 million shares trading says something is brewing big time and people want in. I don't think they would let this company go for $5-$6/share otherwise it would have been done already.... This company is going all the way and it's clear the way the press releases are progressing. On top of this Potash Corp announced a $75/st increase in their potash price for North America.  The market for potash is heating up and we are going to see a good run here IMHO.  If you look at all JR's and large Ag companies such as POT, MOS, AGU, they are all up big time today.  The market likes what they see and the market is ripe for a JR to either sell out or form a JV with off take partners. The global consumption is growing 2 million tons per year and Potash 1 is perfectly aligned to supply this demand. Please make sure you conduct DD, but my any Ag stock IMHO is going to do well over the next 12-24 months providing the world doesn't collapse again.” From Fertiman on the Potash One (TSX: T.KCL, Stock Forum) board.

Top Bullboard: BioExx Specialty Proteins (TSX: T.BXI, Stock Forum) received the second-most reads and posts.

Top blog: LexLuthor2 claims this uranium junior’s stock price is trading at very attractive levels in the Lex Corp blog.

For news about small stocks that made big moves in Friday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.

Word on Wall Street

"The consumer confidence numbers were encouraging," said Bernie McSherry, vice president of strategic initiatives at Cuttone and Co., in an interview with Associated Press. It's a sign shoppers "may be reaching into their wallets heading into the holiday shopping season."

Selected expected U.S. earnings releases for Wednesday
(Consensus Estimates vs. Last Year)
Amerigon (NASDAQ: ARGN) Q3 $0.10 vs. $0.05
International Paper Co. (NYSE: IP) Q3 $0.79 vs. $0.37
Legg Mason (NYSE: FRZ) Q2 $0.34 vs. $0.30
Procter & Gamble Co. (NYSE: PG) (NYSE: TXN) Q1 $1 vs. $1.06
Visa, Inc. (NYSE: V) Q4 $0.95 vs. $0.74
Whirlpool (NYSE: WHR) Q3 $1.78 vs. $1.15

Selected expected Canadian earnings releases for Wednesday
(Consensus Estimates vs. Last Year)
Agnico-Eagle (TSX: T.AEM) Q3 US$0.51 vs. $ - 0.11
CP Railway (TSX: T.CP) Q3 $1.16 vs. $1.16
Goldcorp (TSX: T.G) Q3 US$0.31 vs. $0.19
Lundin Mining (TSX: T.LUN) Q3 US$0.13 vs. $0.01
Sherritt International (TSX: T.SO) Q3 $0.22 vs. $0.19
TMX Group (TSX: T.X) Q3 $0.64 vs. $0.56

Today In The Markets

TSX nets modest gain as RIM jumps, Rogers Communications earnings disappoint

DJIA 11,169.46 +5.41 Click to enlarge
NASDAQ 2,497.29 +6.44 Click to enlarge
S&P500 1,185.64 +0.02 Click to enlarge
S&P/TSX 12,684.68 +21.10 Click to enlarge
S&P/TSX Venture 1,908.07 +7.54 Click to enlarge

(The Canadian Press) TORONTO-NEW YORK - The Toronto stock market closed slightly higher amid mixed earnings reports and a sharp gain in the shares of BlackBerry maker Research in Motion.

The S&P/TSX composite index finished up 21.1 points at 12,684.68, while the Canadian dollar lost 0.37 of a cent to 97.64 cents US.

RIM stock jumped 6.2 per cent on top of a five per cent run-up yesterday that followed the launch of an Adobe software developer kit that can create applications for its PlayBook tablet. The demonstration put to rest worries that RIM would delay the product until the middle of next year.

But Rogers Communications stock lost almost eight per cent in the wake of a disappointing earnings report.

Oil closed up three cents at US$82.55 a barrel.

The Dow Jones industrial average rose 5.41 points to 11,169.46. The Nasdaq composite index gained 6.44 points to 2,497.29 while the S&P 500 index inched up 0.02 of a point to 1,185.64.

Please click here for the complete U.S. and Canadian market summaries.

After-Hours News

Broadcom Corp. (Nasdaq: BRCM, Stock Forum)
reported unaudited financial results for its third quarter ended September 30, 2010. Net revenue for the third quarter of 2010 was a record $1.8 billion, an increase of 44% compared with the $1.25 billion in the third quarter of 2009. The company posted net income of $327.1 million or 60 cents a share in the third quarter, compared to income of $84.6 million or 16 cents in the year earlier period.

PhosCan Chemical Corp. (TSX: T.FOS, Stock Forum)
said it is commencing a program to evaluate the potential recovery of niobium and rare earths contained on the Martison Property, about 70 kilometres north of Hearst, Ont. The Martison Phosphate Deposit contains low grade niobium mineralization and is also overlaid by a higher-grade niobium and rare earth-enriched lateritic oxide cap in the northern portion of the property. However, the company has yet to complete a NI 43-101 complaint research calculation for the niobium and rare-earth enriched cap.


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