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http://ymlp342.net/zHazoT ——————————————————————————– May 13, 2012 Week In Review…
Week In Review For May 7 to May 11, 2012 Canadian Companies mentioned include:
* La Ronge Gold Corp. (TSX-Venture:LAR) * Columbus Gold Corp. (TSX-Venture:CGT) * Magellan Minerals Ltd. (TSX-Venture:MNM) * Commerce Resources Corp. (TSX:CCE) * Western Pacific Resources Corp. (TSX-Venture:WRP) U.S. Companies mentioned include:
* AVI BioPharma Inc. (NASDAQ:AVII) * Power of the Dream Ventures Inc. (OTCBB:PWRV) * KMA Global Solutions International Inc. (Pink Sheets:KMAG) * China Agritech Inc. (Pink Sheets:CAGC) This week on AllPennyStocks.com:
* Article Published, May 8, 2012: Global Licensing Agreement Could Prove a Boon to Sales for Junior Biotech (http://www.allpennystocks.com/aps_ca/special_reports/267/Global-Licensing-Agreement-Could-Prove-a-Boon-to-Sales-for-Junior-Biotech.htm) (CDN Company) * Article Published, May 9, 2012: Junior Healthcare Company Vying for FDA Approval for Cervical Cancer Scan (http://www.allpennystocks.com/aps_us/special_reports/260/Junior-Healthcare-Company-Vying-for-FDA-Approval-for-Cervical-Cancer-Scan.htm) (U.S. Company) * Article Published, May 11, 2012: Junior Medical Device Company Cleared in Canada and Europe with the U.S. in its Sights (http://www.allpennystocks.com/aps_ca/special_reports/268/Junior-Medical-Device-Company-Cleared-in-Canada-and-Europe-with-the-US-in-its-Sights.htm)(CDN / U.S. Company) Video charts for the week:
* May 8th Technical Video Chart For CGT:CA. The Columbus Gold Corp.
chart is holding a base at 48 cents. Despite a few dips below that level, the stock continually pulls up before the closing bell, which could be signaling that the chart is finding a bottom in that area.
( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/WDfa2gs0ZLg ).
* May 9th Technical Video Chart For AVII. The AVI BioPharma chart is holding a support level at 75 cents. A bullish harami 2-day candle pattern was formed on Monday and Tuesday which will be looking for confirmation on Wednesday to add credence to the support level holding. view:
( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/b6CJDzIc-Aw ).
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WEEKLY UPDATE – GREEK TURMOIL ROCKS NORTH AMERICAN MARKETS Equities and commodities took it on the chin amongst of flurry of concerns over political and financial stability in Europe. The major North American exchanges fell in a unified manner for the second week against the backdrop of European challenges and China, the world`s second largest economy, showing lackluster economic data, including industrial production slowing to the lowest rate in three years and a dramatic reduction in imports that raised worries about the growth rate of the country. Traders digested another round of earnings news this past week, which continue to remain optimistic, but foreign concerns clearly had the most impact in driving market direction this past week.
Debt-laden Greece was back in focus with another election almost certain after austerity opponents blocked the formation of a new government again on Friday. In earlier elections the two most established parties both lost seats in parliament, leaving no party with a majority of seats needed to form a government. Led by Alexis Tsipras, Syriza, a left-wing party that came in a surprise second in the election, is stirring the waters with its contention that Greece is no longer bound by its promises to cut spending sharply. The lack of any political unity and formation of a coalition government in Greece, including the rejection of new structure proposed by Social party leader Evangelos Venizelos, has awareness back to high levels of potential financial fallout in the country as the chaos could threaten additional bailout funds and, worse yet, see Greece leave the euro.
A change in leadership in France also has investors on the edge of their seats as they speculate about outcomes of the changing of the guard to newly elected President Francois Hollande after his defeat of Nicolas Sarkozy. Hollande believes that drastic austerity measures are responsible for EU countries being tossed into a recession and the root of large-scale unemployment. This week, Hollande will be meeting with Germany`s Chancellor Angela Merkel, a woman who wants the member nations of monetary union to unquestionably follow the EuroZone fiscal pact. Investors will be looking for the meeting in Berlin to help curb the dysfunction overseas, not antagonize the situation, as disagreements could rattle the markets.
With all the political issues in surrounding countries, Spain was not forgotten for its struggling banking sector. The Spanish government took a large stake in Bankia, one of the largest banks in the country, in an attempt to support investor confidence amidst piles of debt and rising borrowing costs. Yields on Spanish 10-year bonds have risen above the 6% benchmark that raises serious concerns amongst investors.
In a thin economic data week from the U.S., stocks tumbled every day this past week, except for Thursday, when mildly positive initial jobless claims stats helped boost stocks tepidly in perhaps what could just have been proper timing for a bounce after six consecutive losing days for the Dow Jones and TSX Composite.
Economic data picks back up next week that could help either pare the impact of foreign affairs or amplify news from overseas. Retail sales and the U.S. Consumer Price Index can have market moving impact and mid-week will bring minutes from the Federal Reserve`s April 24-25 policy meeting. Investors are expected to dig deep into the Federal Open Market Committee information for guidance as to the direction of the US economy and interest rates. At this point, investors should probably expect more choppy trading.
The Canadian dollar gave-up ground against the USD to drop below parity as global turmoil kept investors skittish about riskier currencies like the loonie. Mark Chandler, head of Canadian FIC Strategy at RBC Dominion Securities, commented, “The risk sell-off has undermined equities, undermined commodities and pulled the Canadian dollar along for the ride as well.” The greenback, which is not as commodity sensitive as the Canadian currency strengthened during the week against the majority of its global counterparts. Breaking back under parity the Canadian dollar lost 0.48% against the USD, meaning that next week will begin with one Canadian dollar buying US$0.99985.
* Gold futures fell by almost 1% on Friday to conclude a week of selling as an unclear EU picture over ongoing debt concerns resulted in a sell-off in the euro; driving investors in droves to safer assets like U.S. treasuries and the dollar. The dive this week took gold to its lowest levels in 2012. June contracts, the most actively traded, dropped by $61.20, or 3.72%, to close at $1,584.00 per troy ounce.
* Silver, which much like gold, benefited from the debt problems in Europe last year because of its “safe haven” appeal, has moved in conjunction with equities this year based on disturbing news from overseas. Gold`s cousin also slid to new 2012 lows this past week by touching $28.415 on Friday before pulling up modestly. On the week, July contracts were the most actively traded; dropping 5.07%, or $1.542, to close the week at $28.89.
* Copper prices had a volatile week to touch three-week lows and could not overcome a Tuesday nosedive that took prices down by more than 3 percent. News from China that showed an 18.8% drop in imports raised concerns over physical demand as the top importing country of copper has an overabundance of the red metal and curbed international trade as a result. July contracts were the most actively traded on New York`s COMEX exchange during the week and shaved-off 7.3 cents, or 1.96%, to $3.648 per pound.
* Oil prices had fallen for six straight days before getting a boost on Thursday with the report on initial U.S. jobless claims contracting to a one-month low adding optimism that demand from the world`s biggest crude consumer will grow. Oil prices had fallen off a cliff on serious demand worries, including China`s April crude imports dropping to the lowest levels since December 2011 and U.S. stockpiles tallying 379.5 million barrels, the highest level since August 1990.
On the week, June contracts retreated $2.36, or 2.40%, to close at $96.13 per barrel, following a drop of more than 6 percent the week prior.
Equity Market Snapshot:
(All percentages on a weekly basis unless otherwise noted) * Major gold miners continued to be under heavy pressure as gold fell to 2012 lows with Barrick Gold (ABX, -1.59%), Kinross Gold (K, -5.16%), Goldcorp (G, -4.20%), Newmont Mining (NMC, -4.20%), Yamana Gold (YRI, -3.69%) and Agnico-Eagle Mines (AEM, -3.38%) all shedding points on the TSX.
* Thompson Creek Metals Co. (TSX:TCM, -22.69%) and Allied Nevada Gold Corp. (TSX:ANV, -7.34%) felt additional selling as both companies posted first quarter results that missed expectations.
* Energy stocks were laggards again this past week with pessimistic oil news around the globe. Suncor Energy (NYSE:SU, -5.44%), Canadian Natural Resources (NYSE:CNQ, -2.61%), Talisman Energy (NYSE:TLM, -6.55%) and Imperial Oil (NYSE:IMO, -3.45%) all subtracting points from their totals. Cenovus Energy (NYSE:CVE, +1.85%) managed to eke out gains.
* JPMorgan Chase & Co. (NYSE: JPM, -11.47%), the largest U.S. bank by assets, embarrassed itself this past week with news that it lost billions of dollars on bad trades and raised fresh worries that the financial sector was not on the mend. The blunder means that the company now expects its corporate segment to post a Q2 loss after taxes of $800 million. It also resulted in Fitch Ratings cutting its credit rating one notch and Standard & Poor`s revising its outlook of JPMorgan to negative. Importantly, the loss from synthetic trading will surely have regulators taking a close look at potential policy revisions.
* Already having a tough week in general, banks were impacted by the JPM news. Majors Goldman Sachs Group (NYSE:GS, -6.29%), Bank of America (NYSE:BAC, -2.45%) and Citigroup (NYSE:C, -7.12%) posted losses on the week.
* On the Canadian banking front, The Bank of Nova Scotia (TSX:BNS, +0.45%) was a rare winner on the week as Toronto-Dominion Bank (TSX:TD, -0.80%), Royal Bank of Canada (RY, -1.75%) and Bank of Montreal (BMO, -0.81%) all drifted lower with their U.S. peers.
* In M&A news, shares of drugmaker GlaxoSmithKline (NYSE:GSK, +0.18%) said it is taking its previously announced unsolicited $13 a share offer for Human Genome Sciences (NASDAQ:HGSI, +2.30%) directly to shareholders in a hostile bid.
* Shares of beauty products company Avon (NYSE:AVP, -1.85%) declined after it said that it is considering the new $24.74 a share buy-out offer from perfume-maker Coty. Coty`s original offer was $23.25 per share.
* Shares of insurer American International Group (NYSE:AIG, -3.29%) fell after the Treasury Department announced that it was planning to sell 163.9 million shares for $30.50 each. The Government Accountability Office issued a report stating that the U.S. Treasury may eventually turn a $15.1-billion profit on its bailout of AIG when all final payments and asset sales are complete.
* Bombardier Inc. (TSX:BBD.B, -5.47%) reported net income of $190 million, or $0.10 per share, in Q1 as compared to $220 million, or 12 cents, a share a year ago. Revenue was $3.5 billion, compared with $4.7 billion last year.
* Nvidia Corp. (NASDAQ:NVDA, +7.75%) shares perked upon the company reporting quarterly revenue and an outlook that beat estimates.
* Nexen Inc. (NYSE:NXY, -4.31%) lost share value after saying that it is abandoning drilling operations at a site in the Gulf of Mexico after failing to find commercial hydrocarbons.
* Shares of food company George Weston Ltd. (TXS:WN, -1.96%) fell on the week despite saying that Q1 net earnings attributable to shareholders grew 18% to $124 million from $105 million in the quarter a year earlier. Sales increased 1% to $7.22 billion from $ 7.15 billion a year ago.
* After plummeting the week prior, shares of Green Mountain Coffee Roasters (NASDAQ:GMCR, +0.24%) edged slightly higher after saying that CEO Robert Stiller was ousted as Chairman for selling more than $125 million worth of Green Mountain stock early in the week in a margin call.
* Shares of Walt Disney (NYSE:DIS, +6.13%) hit all-time highs after posting better than expected earnings and reporting a blockbuster opening weekend for its movie “The Avengers” which racked-up $200.3 million in domestic ticket sales. The sales eclipsed the old company record of $169.2 million registered by the wildly-popular “Harry Potter and the Deathly Hallows Part 2” last July.
* Molson Coors Brewing Co. (NYSE:TAP, -1.62%) reported net income from continuing operations dropped 3.9% to $79.4 million, or 44 cents per share, even though underlying earnings rose to $85.3 million, or 47 cents per share. Net sales were up 0.1% to $691.4 million.
* Fast Food restaurants McDonald`s Corp. (NYSE:MCD, -4.14%) and Wendy`s (NASDAQ:WEN, -6.86%) both depreciated in value with earnings reports. Mic-E-Dees said that same-store sales increased 3.3%, both globally and in the U.S. market, which came up short of analyst expectations of 5% growth. Wendy`s reported operating income of a penny a share, shy of analysts` forecasts for a profit of three cents a share.
* Canada`s largest auto parts maker Magna International Inc.
(NYSE:MGA, +0.82%) notched first quarter sales of $7.7 billion, an increase of 7% from the same quarter in 2011. Net income totaled $341 million, an increase of $19 million over Q1 2011.
* The day is nearly here for the much anticipated Facebook Initial Public Offering. The IPO is slated to happen this coming Friday. Chief Executive Officer Mark Zuckerberg, plans to raise as much as $11.8 billion through the IPO, the biggest in history for an Internet company. The top end price range values the social network at $96 billion, but the enormous figure has many analysts claiming that the company is overvalued at that level which is weakening demand.
Weekly Indices Results:
The S&P TSX Composite Index continued the slide from the previous week;subtracting 176.56 points, or 1.49%, to 11,694.67. The TSX Venture Exchange crashed again; dropping 58.77 points, or 4.18%, to 1,346.33.
In the States, the Dow Jones Industrial Average dumped again for the second straight week; depreciating by 217.67 points, or 1.67%, on the week to 12,820.60. The much-broader S&P 500 followed along; shrinking its total by 15.71 points, or 1.15%, to close at 1,353.39. The tech-rich NASDAQ Composite continued to slide after its stellar start to 2012; unleashing 22.52 points, or 0.76%, to 2,33.82 on the week.
Canadian Economic Data:
* In March, contractors took out building permits worth $6.8 billion, up 4.7% from February following a revised 7.6% increase the previous month. The gain was attributable to higher construction intentions for both institutional and commercial buildings, mostly in Ontario.
Intentions for residential buildings fell 1.3 percent in March as the value of permits fell by 1.7 percent for single-family dwellings and by 0.7 percent for multi-family dwellings.
* Canada Mortgage and Housing Corp. said there was a seasonally adjusted annual rate of 244,900 housing starts in April, up 14% from the previous month, and well ahead of the 204,000 figure economists had been predicting. The climb represents the highest level of starts since September 2007.
* The New Housing Price Index (NHPI) rose 0.3% in March, following a similar increase in February. When compared to 12 months earlier, prices were up 2.6%.; renewing concerns about a Canadian housing bubble.
* Canada`s merchandise exports edged down 0.4% and imports decreased 0.6%. As a result, Canada`s trade surplus increased from $273 million in February to $351 million in March.
* Employment increased by 58,000 in April, mostly in full-time work.
This was the second consecutive month of notable gains after four months of little change. With more people searching for work, the unemployment rate increased by 0.1 percentage points to 7.3%.
Next week, the economic data slate will include CREAstats-MLS sales on Tuesday; Monthly Survey of Manufacturing on Wednesday; Canada`s International transactions in securities, Wholesale Trade and New Motor Vehicle Sales on Thursday; and Consumer Price Index on Friday.
U.S. Economic Data:
* The US monthly international trade deficit increased in March 2012, according to the US Bureau of Economic Analysis and the US Census Bureau. The deficit rose from a revised $45.4 billion in February to $51.8 billion in March, as imports climbed faster than exports. The services surplus increased by $100 million to $15.8 billion, increasing the deficit to $67.6 billion in March.
* The Labor Department said that initial jobless claims dropped by 1,000 to 367,000 in the period ended May 5th. After the month of April saw a rise in claims, the mild decreases recently has the level back down to levels at the end of February. The four-week moving average, a less volatile measure than the weekly figures, decreased to 379,000 last week from 384,250 the previous period.
* A sharp drop in gas (-1.7%) and energy costs drove a measure of U.S. wholesale prices lower in April, according to info from the Labor Department. The agency said that the Producer Price Index, which measures price changes before they reach the consumer, dropped 0.2 percent last month from the previous month. It was the first decline since December and the biggest one-month drop since October.
* Consumer confidence rose in May to the highest level in four years, led by gains among upper-income Americans that may contribute to a pickup in spending on expensive items like furniture and appliances.
The Thomson Reuters/University of Michigan preliminary sentiment index for May climbed to 77.8, the highest since January 2008, from 76.4 in April. The index has now risen for nine straight months and has reached its highest level in four years.
Next week, data in the States will include the Consumer Price Index, Retail Sales stats and the Empire State Manufacturing Survey on Tuesday; Housing Starts and Industrial Production on Wednesday; Jobless Claims and the Philadelphia Fed Survey on Thursday.
Penny Stocks to Watch & Company Spotlight Results:
Among the stocks we watched this week, miner Columbus Gold Corp.
(TSX-Venture:CGT) started a little slow, but then rose the final three days of the week to close at its intraweek high of $0.55, for a gain of 6 cents, or 12.24%. The other stock we had on radar, fellow miner La Ronge Gold Corp. (TSX-Venture:LAR) dropped mid-week before putting together a solid bounce to also close at its intraweek high or $0.365 for a gain of 1.5 cents, or 4.29%.
In the States, drug maker AVI BioPharma Inc. (NASDAQ:AVII) bounced all over the place, including hitting an intraweek high of 85 cents before settling down at $0.771 for a loss of 6.15 cents, or 7.39%. The other U.S. stock on our watchlist, services company Power of the Dream Ventures Inc. (OTCBB:PWRV) never gained any momentum and closed down at 9 cents for a loss of 3.8 cents, or 29.69%, with an intraweek high of $0.124.
If you`d invested in all four stocks and held them to the end, you`d have seen an average loss of 5.14%. However, if you`d bought all four at the beginning of the week and sold each at its peak, you`d have realized gains of 3.88%.
Next week, we focus on Magellan Minerals Ltd. (TSX-Venture:MNM) and Commerce Resources Corp. (TSX-Venture:CCE). In the States, look for big things from KMA Global Solutions International Inc. (Pink Sheets:KMAG) and China Agritech Inc. (Pink Sheets:CAGC).
Amongst our Corporate Spotlights, Western Pacific Resources Corp.
(TSX-Venture:WRP) announced this past Wednesday that they received historical proprietary data compiled by Pegasus Mining for the Mineral Gulch property, formerly known as the Black Pine Mine. Included in the information are comprehensive drill-hole location maps, topographic maps generated during the mining process, various drill-hole gold assay sheets and useful mine permitting reports. The data was purchased for a cost of $5,000. The Black Pine Property produced over 500,000 ounces of gold at an average head grade of 1.5 grams from several small open pits.
“We are extremely pleased to have acquired the historical data. It has been a long process trying to track down this partial data set. Now that we have this information, we will use it to help with our planned summer drill program. This is a very important step in refining our exploration plan moving forward,” said Eric Saderholm, Director at Western Pacific Resources.
Despite the market selloff over the last few weeks, especially in Canadian stocks, V.WRP still finds itself up 17% from our profile launch date of May 1st. The chart pattern looks promising as well for the Company as it continues to find strong support at $0.27 and continues to make higher lows and higher highs which may mean that a new up-trend is in the midst of forming. We encourage our investors to continue to watch for developments and follow trading of V.WRP in the days and weeks ahead.
————————- Forward Looking Statements This report includes forward-looking statements that reflect the mentioned companies current expectations about its future results, performance, prospects and opportunities. the mentioned companies has tried to identify these forward-looking statements by using words and phrases such as “may,” “will,” “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plan,” “should,” “typical,” “preliminary,” “we are confident” or similar expressions. These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause the mentioned companies actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company`s growth expectations and ongoing funding requirements, and specifically, the Company`s growth prospects with scalable customers, and those outlined above. Other risks include the Company`s limited operating history, the Company`s history of operating losses, consumers` acceptance, the Company`s use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company`s securities, the possible volatility of the Company`s stock price, the concentration of ownership, and the potential fluctuation in the Company`s operating results.
Disclaimer AllPennyStocks.com feature stock reports are intended to be stock ideas, NOT recommendations. Please do your own research before investing. It is crucial that you at least look at current SEC filings and read the latest press releases. Information contained in this report was extracted from current documents filed with the SEC, the company web site and other publicly available sources deemed reliable.
For more information see our disclaimer section, a link of which can be found on our web site. This document contains forward-looking statements, particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Actual results may differ materially from the Company`s expectations and estimates.
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Before making a purchase or sale of any securities featured on our web site or mentioned in our reports, we strongly encourage and recommend consultation with a registered securities representative. This is not to be construed as a solicitation or recommendation to buy or sell securities. As with any stock, companies we select to profile involve a degree of investment risk and volatility. Particularly Small-Caps and OTC-BB stocks. All investors are cautioned that they may lose all or a portion of their investment if they decide to make a purchase in any of our profiled companies. Past performance of our profiled stocks is not indicative of future results. The accuracy or completeness of the information on our web site or within our reports is only as reliable as the sources they were obtained from. The profile and opinions expressed herein are expressed as of the date the profile is posted on site and are subject to change without notice. No investor should assume that reliance on the views; opinions or recommendations contained herein will produce profitable results. AllPennyStocks.com may hold positions in securities mentioned herein, and may make purchases or sales in such securities featured on our web site or within our reports. In order to be in full compliance with the Securities Act of 1933, Section 17(b), AllPennyStocks.com will disclose in it`s disclaimer, what, if any compensation was received for our efforts in researching, presenting and disseminating this information to our subscriber database and featuring the report on the AllPennyStocks.com web site. AllPennyStocks.com has been compensated eight thousand dollars by the Company for its efforts in presenting the V.WRP profile on its web site and distributing it to its database of subscribers as well as other services. Information presented on our web site and within our reports contain “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be “forward looking statements.” Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as “expects”, “will,” “anticipates,” “estimates, “believes,” or that by statements indicating certain actions “may,” “could,” or “might” occur.
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http://www.nasd.com ( http://www.nasd.com ). Readers can review all public filings by companies at the SEC`s EDGAR page. The NASD has published information on how to invest carefully at its web site.
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