You can read the original version online:
http://ymlp335.net/zE7HIc ——————————————————————————– October 21, 2012 Week In Review…
Week In Review For October 15 to October 19, 2012 Canadian Companies mentioned include:
* Rye Patch Gold Corp. (TSX-Venture:RPM) * Bold Ventures Inc. (TSX-Venture:BOL) * Fairborne Energy Ltd. (TSX:FEL) * Mansfield Minerals Inc. (TSX-Venture:MDR) * Intertainment Media Inc. (TSX-Venture:INT) * Zecotek Photonics Inc. (TSX-Venture:ZMS) U.S. Companies mentioned include:
* Article Published, October 16, 2012: Unigene Shares Continue to Rebound as Pipeline Advances (http://www.allpennystocks.com/aps_us/special-reports/303/unigene-shares-continue-to-rebound-as-pipeline-advances.htm) (U.S. Company) * Article Published, October 17, 2012: Metanor Produces 3191 Ounces of Gold as it Moves Towards Full Production (http://www.allpennystocks.com/aps_ca/special-reports/303/metanor-produces-3191-ounces-of-gold-as-it-moves-towards-full-production.htm) (CDN Company) * Article Published, October 17, 2012: Augme Technologies Subsidiary Hipcricket Sets Mobile Marketing Campaign Record (http://www.allpennystocks.com/aps_us/special-reports/304/augme-technologies-subsidiary-hipcricket-sets-mobile-marketing-campaign-record.htm) (U.S. Company) Video charts for the week:
* October 16th Technical Video Chart For INT:CA. A look at the 5-year weekly chart for Intertainment Media shows a strong support level at current prices. A move from this area in 2011 returned gains of over 3,000 percent, which will have traders once again paying attention for volume and a break of the resistance at 20 cents. view:
( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/VRN7Kchx0Jw ).
* October 17th Technical Video Chart For DTGI. The Digerati Technologies chart found a support at $0.0015 and looked poised to climb to end last week. The chart is roaring ahead in trading on Monday and Tuesday and will be trying to maintain the momentum as it approaches resistance at $0.005. view:
( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/MmeM_3gGgFo ).
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WEEKLY UPDATE -US STOCKS STUMBLE ON EARNINGS, CANADIAN EQUITIES POST A STRONG WEEK Stocks in North America were mixed this past week with Canadian stocks clearly outperforming the U.S. counterparts which started the week with a roar and ended with a whimper. As we mentioned last week, this week was a matter of substance with a litany of earnings reports and economic data on tap. Stocks came out of the gate strong on better-than-expected housing and retail sales data and strong earnings reports from the financial sector that lifted stocks early in the week. Over the first three days of the week, the S&P 500 gained 2.3 percent to erase losses from the week prior in its best three-day march in more than a month. However, the optimistic mood in the U.S.
muted late in the week when the latest batch of jobless claims came in higher than expected and key earnings reports were off the mark.
Further, the company`s that did provide forward-looking guidance were modest in predictions; causing a stir about growth heading into 2013.
On Friday, 29 of the 30 Dow components closed lower as the index fell 1.5 percent, its worst one-day performance since March. Wednesday marked the 25-year anniversary of Black Monday. Many young traders probably don`t even remember the day in 1987 that markets collapsed across the globe and the Dow Jones suffered its worst one-day loss in history – dropping 508 points, or 22.61% – at a time when there weren`t any laptops and smartphones weren`t even a gleam in the eye of inventors.
Stocks in Canada began the week by hitting a five-week low in early trading on Monday only to rebound back into the green by the closing bell and follow that with three more days of strong gains before giving some back on Friday to still close the week firmly ahead.
Stateside the crumpling of the markets on Thursday and Friday had the Dow and S&P 500 barely squeaking ahead and the Nasdaq closing red for the fourth time in five weeks, at its lowest level in 11 weeks. The tech-rich Nasdaq had an anchor around its neck thanks in part to poor earnings from Google and Microsoft (see below).
Overseas news was relatively scant from Europe this past week as European leaders met in Brussels to discuss their financial reform plans. Leaders from Germany and France headed into the meeting at odds on a range of economic policy issues, including the amount of power that should be granted to control national budgets by a new euro banking supervisor. Investors were also focused on hearing some news about debt-riddled Spain, but nothing manifested; leaving traders both concerned and disgruntled that the country once again refused to ask the European Central Bank for bail-out funds. Further, the only news that came from the Brussels summit was that the leaders were in agreement of having a legal framework for a single euro banking supervisor formed by the end of 2012, but no clear-cut plan was detailed. In what could be considered a game of “kicking the can down the road,” it seems that no credible solutions pertaining to the new regulatory unit will be made until next year. No immediate plans related to Spain or Greece released at all.
Against a dour backdrop towards Spain, Moody`s actually helped markets mid-week by saying that they are not downgrading the country`s credit rating to junk status.
The European concerns weighed on the euro, which allowed the U.S.
dollar to strengthen, leading to a tough week for commodities.
Because commodities are priced in U.S. dollars, a strong dollar makes prices higher for foreign currencies, which hurts the value of commodities like gold, copper, silver and oil as it deters investments.
China said that its economy grew by 7.4% in the third quarter as compared to the year prior quarter. The report was basically in line with expectations, but perceived as somewhat negative by a world that has grown accustom to China posting double-digit growth each quarter.
Separately, China, the world`s second biggest economy behind the United States, reported that value-added industrial output rose by 9.2 percent in September from the 2011 period; beating economists` predictions of 9 percent growth. Much like the earnings reports in the United States that dampened moods by being decent, but not stellar, the concern is that there is a global deceleration ongoing that will hinder future demands.
This coming week will be relatively benign with regards to economic data, but earnings reports will continue to flow in droves. 98 S&P companies have reported earnings for the third quarter, with about 70 percent topping earnings expectations, but only 42 percent tallying sales that have beaten Wall Street predictions. Throughout this week, about 140 companies will be reporting, so it is likely that Wall Street may dance to the tune of financials again, much like it did this past week.
The U.S. dollar made up some substantial ground on its Canadian counterpart this past week, posting its biggest weekly gain on the loonie since May. The Canadian dollar dropped to a nearly two-month low against the greenback on growing expectations from investors that the Bank of Canada will probably not raise interest rates next week after BoC Governor Mark Carney delivered a speech last week. Higher interest rates tend to benefit a country`s currency because it draws greater interest from foreign investors. The USD was already strengthening against key global currencies and Carney`s commentary, coupled with Canada`s Finance Minister Jim Flaherty saying that the nation may downwardly revise its economic outlook, caused the CDN dollar to sink. Across the week, the Canadian dollar weakened by 1.35% against the US dollar, so next week will begin with one Canadian dollar buying US$1.00695.
* Gold futures lacked momentum for the second straight week to dip to six-week lows as little news was presented this past week to inspire traders to move towards bullion. The USD firmed a bit and traders were once again disappointed that Spain didn`t request a rescue package. Decent economic data hamstringed gold prices, as well investors wonder about quantitative easing policies getting cut-off sooner than later. For the past few weeks, the gold market has been in a “wait and see” mode and nothing changed this past week. December contracts were the most actively traded this past week; slipping 2.03%, or $35.70 per ounce, to close the week at $1,724.00 on the Comex division of the New York Mercantile Exchange.
* Silver futures also dropped further last week with little impetus to drive investor interest. On Friday, the multi-use white metal plunged to one-month lows and lost more than 2 percent after notching three straight green days to recover from a nosedive on Monday as weak global cues and breaks in technical support levels are bringing-in a fresh batch of silver sellers. Silver for December delivery was the most actively traded; dumping another 4.67%, or $1.572, to $32.097 per ounce after falling 2.6% the week earlier.
* Copper prices were not spared as part of a broad metal sell-off on Friday. The bevy of earnings misses and bland forecast by bellwether companies in the States has once again begun worrying metal traders about future growth in the U.S. while some optimistic data from China, the world`s largest consumer of copper painted a confusing picture about global demand. Copper had a strong run in September, largely on the back on monetary policies globally, not on strength of demand.
As such, the red metal is now cooling as traders wait for bona fide signs of rises in demand for key consumers like China who devours almost 40 percent of all copper produced annually. December contracts were the most actively traded on New York`s COMEX exchange during the week;dropping by 6.55 cents, or 1.77%, to $3.6375 per pound.
* Oil prices rode the spiral of its other commodity peers on Friday after a basically flat week of trading; plunging 2.26% on the final trading day of the week. Realistically, there is nothing new to report here. Friday was a brutal day for U.S. markets and commodities on plenty of earnings whiffs, global economic concerns and growth in China being fast, but not fast enough. With oil inventories high, there are no supply concerns, so oil tumbled with everything else.
December contracts for West Texas Intermediate crude were the most actively traded and fell for the fourth time in five weeks; fading $1.42, or 1.55%, to $90.44 per barrel.
Equity Market Snapshot:
(All percentages on a weekly basis unless otherwise noted) * Major gold miners primarily gained despite slipping bullion prices.
Agnico-Eagle Mines (TSX:AEM, +3.78%) resumed its winning ways while Kinross Gold (TSX:K, +0.60%), Goldcorp (TSX:G, +0.89%), Barrick Gold (TSX:ABX, +0.63%) and Yamana Gold (TSX:YRI, +4.85%) posted gains, although Newmont Mining (TSX:NMC, -0.13%) nudged lower.
* Gold Fields Ltd. (NYSE:GFI, -0.74%), the world`s fourth largest gold producer, said that the striking workers at its KDC West mine in South Africa have returned to work, ending a month-long strike at the operation.
* Argonaut Gold Inc. (TSX:AR, -5.92%) felt shares decline as the company announced plans to acquire Prodigy Gold Inc. (TSX-Venture:PDG, +44.93%) for shares and cash in a friendly deal valued at $341 million.
* Energy stocks also ignored the general trend of oil with Canadian Natural Resources (NYSE:CNQ, +1.36%), Imperial Oil Ltd. (NYSE:IMO, +0.00%), Suncor Energy (NYSE:SU, +3.06%), Exxon Mobil (NYSE:XOM, +1.23%), Cenovus Energy (NYSE:CVE, +0.82%) and Talisman Energy (NYSE:TLM, +0.77%) all closing green.
* The Canadian government rejected a $5.2 billion bid for natural-gas producer Progress Energy Resources Corp. (TSX:PRQ, -1.14%) by Malaysia`s Petroliam Nasional Bhd. The decision could be ominous for China`s Cnooc Ltd., which has a $15.1 billion bid for oil company Nexen Inc. (TSX:NXY, -0.59%) pending Canadian government review.
* Protesters are back at it in Texas, attempting to stop TransCanada PipeLines (TSX:TRP, -0.11%) from completing its Texas portion of the 1,660-mile-long Keystone XL pipeline by next year. To date, about 30 people have been arrested since August for their protesting efforts; generally for trespassing on land that is now government-owned through purchases enforced by the eminent domain law.
* Shares of Celtic Exploration Ltd. (TSX:CLT, +45.15%) soared after the Calgary-based company received a friendly takeover offer valued at $3.1 billion from Canadian affiliates of Exxon Mobil Corp.
* The biggest of banks in the US were buoyed by earnings reports that weren`t aiming too high, but still topped expectations. Goldman Sachs Group (NYSE:GS, +2.85%)along with Bank of America (NYSE:BAC, +3.51%), Citigroup (NYSE:C, +6.94%), JPMorgan Chase (NYSE:JPM, +1.68%), UBS AG (NYSE:UBS, +3.49%) and Wells Fargo & Co. (NYSE:WFC, +0.26%)all added points. XLF (NYSE:XLF, +1.90%), the financials select sector SPDR that tracks the financial stocks in the S&P 500, closed in the green as well.
* Citigroup reported third-quarter profit fell 88% to $468 million as the bank took charges tied to the value of its debt and the sale of a stake in its brokerage joint-venture, but core revenue in its main businesses continued to improve. Stealing the spotlight, however, was news the day after reporting earnings that CEO Vikram Pandit and President/COO John Havens were resigning, effective immediately.
Michael Corbat, who previously served as Citi`s CEO of Europe, Middle East and Africa, was named as his replacement.
* The biggest banks in Canada trekked upward alongside banks south of the border. National Bank of Canada (TSX:NA, +1.40%), Royal Bank of Canada (TSX:RY, +2.94%), Bank of Montreal (TSX:BMO, +1.88%), Toronto-Dominion Bank (TSX:TD, +2.17%), Canadian Imperial Bank of Commerce (TSX:CM, +1.89%) and The Bank of Nova Scotia (TSX:BNS, +1.97%) all closed the week ahead.
* With a printer error accidentally releasing its earnings a few hours before scheduled, Google (NASDAQ:GOOG, -8.45%) managed to put Wall Street in a panic as it missed on estimates on both sales and profits in its latest quarter. The tech beast blamed RR Donnelly & Sons (NASDAQ:RRD, -1.59%) for the mishap that led to shares of GOOG being temporarily halted as traders were unloading shares. Net income was $2.18 billion compared with $2.73 billion last year and revenue was $11.3 billion, below the $11.9 billion expected by analysts.
* Japan`s Softbank Corp. (Pink Sheets: SFTBY, +3.23%) said it will buy a 70% stake in U.S. mobile carrier Sprint Nextel Corp. (NYSE:S, -1.40%) for about $20 billion in the biggest overseas acquisition by a Japanese firm ever. Softbank said it would acquire a majority stake in Sprint by buying $8 billion of shares directly from the company and then buying another $12.1 billion of shares in the market. The deal is expected to be completed by mid-2013.
* Shares of Clearwire Corp. (NASDAQ:CLWR, -20.26%), who has Sprint as a large shareholder, originally rose on the news before falling apart.
* MetroPCS Communications Inc. (NYSE:PCS, -7.66%), itself in the process of merging with T-Mobile USA, is one of the carriers that will have to compete against a stronger Sprint after the marriage with Softbank is completed.
* Abbott Labs (NYSE:ABT, -4.52%) said that its joint testing program with privately-held Reata Pharmaceuticals on a drug known as bardoxolone methyl, used to treat kidney disease is producing “excess serious adverse events and mortality” and that they are halting the trials and informing the U.S. Food and Drug Administration of the occurrences.
* Yahoo Inc. (NASDAQ:YHOO, -0.25%) said that it hired Henrique de Castro as chief operating officer. De Castro is currently vice president of Google`s worldwide Partner Business Solutions. During the week, Yahoo got a snub from Stifel Nicolaus who lowered their third quarter earnings estimates for the online media company to 23 cents per share from 28 cents per share, citing the company as still being in a “transition period.” * International Business Machines Corp was a notable disappointment as Big Blue reported revenue that fell short of expectations. IBM has an outsized influence on the price-weighted Dow that can exert excessive force either direction. IBM reported third-quarter sales of $24.7 billion, below Wall Street expectations of $25.4 billion.
* Homebuilders were winners with data showing a constantly improving housing market. PulteGroup Inc. (NYSE:PHM, +14.61%), Toll Brothers Inc. (NYSE:TOL, +7.31%), Lennar Corp. (NYSE:LEN, 8.31%) and Hovnanian (NYSE:HOV, +22.69%) all galloped forward.
* Apollo Group Inc (NASDAQ:APOL, -28.82%) plummeted to an 11-year low as the owner of the University of Phoenix, the largest U.S. for-profit college, forecast a weak 2013 and announced new student sign-ups fell 14 percent during the fourth quarter. In order to save about $300 million by fiscal 2014, the company is slashing jobs and shuttering half of its University of Phoenix learning sites.
* Intel (NASDAQ:INTC, -1.00%) disappointed with a fourth-quarter revenue forecast of $13.6 billion, which came in below Wall Street expectations of $13.7 billion. Sales during Q3 for the chip-giant were $13.46 billion, down from $14.23 billion one year ago.
* ASM Lithography Holding N.V. (NASDAQ:ASML, -1.53%), the world’s leading chip gear maker, agreed to buy Cymer, Inc. (NASDAQ:CYMI, +61.79%). In a move to expedite development of the next generation of chip-making technology, ASML is engulfing Cymer, its key supplier of lithography light sources, for $2.5 billion.
* Amazon.com Inc. (NASDAQ:AMZN, -0.97%) is reportedly in advanced talks to buy Texas Instruments Inc.’s (NASDAQ:TXN, +1.94%) mobile chip business.
for $1.14 billion. Wesco also reported net income of $63.4 million, or $1.25 per share, in its latest quarter, compared with net income of $53.9 million, or$1.11 cents per share, a year earlier. Revenue rose 4.8 percent to $1.66 billion, from $1.58 billion. The figures topped Wall Street`s expectations of $1.24 per share on revenue of $1.73 billion.
* Shares of network gear maker Juniper Networks (NYSE:JNPR, +8.81%) surged after benzinga.com reported that it hired JP Morgan to evaluate possibly selling itself to data storage company EMC Corp. (NYSE:EMC, -4.13%). The company declined to comment, but a source close to the matter says that the report is not true, according to Reuters.
* Shares in radio, TV and billboard company Astral Media (TSX:ACM.A, -18.65%) jettisoned points after the Canadian Radio-television and Telecommunications Commission unexpectedly blocked a planned sale to telecom BCE Inc. (NYSE:BCE, -1.42%) in a deal worth about $3.4 billion. BCE plans to appeal the decision.
* Chipmaker Advanced Micro Devices (NYSE:AMD, -20.44%) reported a deep third-quarter loss and forecast a sequential decrease in revenue of about 10 percent for the fourth quarter. Looking to stop the bleeding the company said it plans to cut 15 percent of its work force.
* Air Canada (TSX:AC.B, +26.95%) got an upgrade from Bank of Montreal to outperform from market perform. The bank also more than doubled its target price to $2.50, citing a positive outlook on cost-cutting measures and continued favorable revenue trends, as well as its ability to defer pension-funding requirements “for the forseeable future.” Weekly Indices Results:
The S&P TSX Composite Index cruised higher to erase losses from the prior week; climbing 213.94 points, or 1.75%, to 12,415.98. The TSX Venture Exchange closed near weekly highs; adding 22.81 points, or 1.76%, to 1,315.62.
In the States, the Dow Jones Industrial Average narrowly managed to hang onto gains; nosing ahead by 14.66 points, or 0.11%, to 13,343.51.
The much-broader S&P 500 performed similarly; edging up by 4.60 points, or 0.32%, to close at 1,433.19. The tech-rich NASDAQ Composite was the laggard of the bunch; falling by 38.49 points, or 1.26%, to 3,005.62 on the week.
Canadian Economic Data:
* The Canadian Real Estate Association (CREA) released figures showing that national resale housing activity rebounded slightly in September, marking the first monthly increase since March. Home sales were up 2.5% in September compared to August which posted a 6.2% drop, with actual (not seasonally-adjusted) activity down 15.1% from September 2011. The national average home price rose to C$355,777, a 1.1% year-over-year increase.
* Statistics Canada reported that manufacturing sales increased 1.5% to $49.5 billion in August, the highest sales level since March 2012.
The gain largely reflected increases in the petroleum and coal products, and motor vehicle industries.
* StatsCan also reported that non-residents acquired $6.9 billion of Canadian securities in August, favoring debt instruments over equity in contrast to July. Canadian investors reduced their holdings of foreign securities by $1.7 billion, following three straight months of acquisition. Foreign investors purchased $7.5 billion of Canadian debt securities in August, up from the $2.0 billion acquired in July.
Non-residents added bonds and money market instruments to their holdings, led by Canadian corporate securities.
* Wholesale sales rose by 0.5% to $49.7 billion in August, following two consecutive monthly declines and topping economists predictions of a 0.2% increase. Higher sales in the food, beverage and tobacco subsector, and the machinery, equipment and supplies subsector, were the main contributors to the increase. The food industry contributed heavily with a 2.7% climb, the largest increase since February 2010, following a 2.1% decline in July. The three sectors that reported declines were paced by the miscellaneous category, down 1.9%; its fourth consecutive monthly decline was due to lower sales in the chemical and agricultural supplies industries.
* Following three months of little change, 534,400 people received regular Employment Insurance benefits in August, up 16,400 (+3.2%) from July. The number of beneficiaries rose notably in Quebec, while Alberta, British Columbia, New Brunswick, Saskatchewan and Ontario also experienced increases.
* Consumer prices rose 1.2% in the 12 months to September, matching the increase in August. Higher energy prices (+2.9% year-over-year), particularly for gasoline (+4.7% year-over-year) and electricity (+6% year-over-year), led the advance in the Consumer Price Index (CPI) for September. This was tempered by lower year-over-year price increases for the purchase of passenger vehicles and for food purchased from stores. Excluding energy, the CPI rose 0.9% in the 12 months to September, after rising 1.4% in August.
Next week, economic data will be slow with only the Bank of Canada`s interest rate decision and Retail Trade stats for August coming on Tuesday.
U.S. Economic Data:
* Signaling that consumer demand is gaining steam heading into the holiday season, the Commerce Department said that retail sales advanced 1.1 percent in September, following a revised 1.2 percent increase in August. Topping economists predictions of a 0.8 percent climb, the figures were the best back-to-back months of 2012. Gains were shown in 12 of the 13 retail categories as Americans bought more of virtually everything from phones to automobiles during the month.
* The October Empire State Manufacturing Survey indicated that conditions for New York manufacturers continued to decline for a third consecutive month. The general business conditions index increased four points but remained negative at -6.2, after a -10.4 reading in September, which was the lowest reading since April 2009. Economists were calling for a rise to -4 for the month. Negative figures signal contraction in the industry. The new orders index rose five points to -9.0, while the shipments index fell nine points to -6.4, its first negative reading in more than a year.
* In the September reading of its Consumer Price Index, the Labor Department said consumer prices increased 0.6% in September, largely the result of higher gas costs. Economists were calling for a 0.5% increase. For the third straight month, so-called core prices, regarded as a better gauge of inflationary trends because they strip-out volatile components, rose a seasonally adjusted 0.1%.
Economists suspected that core CPI would rise 0.2%. Across the last 12 months, consumer prices have risen an unadjusted 2.0% (up from 1.7% from August), while the core rate has also risen 2.0% (up from 1.9% in August).
* The Federal Reserve reported that industrial production – which includes output from the nation`s factories, mines and utilities – recovered by 0.4% after a downwardly revised 1.4% decrease in August.
The rise was well ahead of calls from Wall Street for a gain of 0.2%.
A portion of the increase was attributed to oil production shutdowns because of Hurricane Isaac that went back into operation once the storm passed. During the third quarter, industrial production dropped at a 0.4% annual rate.
* The Labor Department reported that seasonally adjusted weekly jobless claims for the week ending October 13 leapt up by 46,000 to 388,000 from the previous week“s revised figure of 342,000, representing the highest level in three months. Economists were expecting a hike to 365,000. The 4-week moving average, regarded as a better gauge of overall labor trends because it eliminates volatility, was 365,500, an increase of 750 from the previous week“s revised average of 364,750.
* Commerce Department figures showed that housing starts surged by 15 percent in September to their highest level since July 2008, signaling that the housing market is continuing to find its footing. The jump exceeded even the highest expectations of analysts. Construction on new homes is now at an 872,000 annual pace. Mortgage rates holding near record lows and a dwindling inventory of pre-owned and foreclosed homes is stoking the gains. A stark rise in building permits, a bellwether for future construction, to an 894,000 annual rate, also exceeding the expectations and indicates that the housing recovery should be sustained.
* On the other side of the homes market, sales of previously-owned homes dropped 1.7 percent in September to a 4.75 million annual rate after posting their highest level in two years the month prior. Sales were choked by a lack of supply (only 2.32 million homes were available, the lowest inventory for a September since 2002), which also contributed to rising costs for existing homes. The median price of pre-owned houses climbed 11 percent from September 2011 to $183,900, marking the biggest year-over-year jump since November 2005.
* According to the latest Philadelphia Fed Survey, manufacturing activity in the mid-Atlantic region grew in October after five straight months of contraction. The Philadelphia Federal Reserve Bank said its business activity index rose to 5.7 from minus 1.9 the month before. Readings above zero signal expansion. Economists were calling for a rise to 1.0.
Next week, data in the States will bring New Home Sales and a FOMC Meeting Announcement on Wednesday; Durable Goods Orders and Initial Jobless Claims on Thursday; and a fresh Gross Domestic Product reading on Friday.
Penny Stocks to Watch & Company Spotlight Results:
Among the stocks we watched this week, miner Bold Ventures Inc.
(TSX-Venture:BOL) kept testing resistance at its intraweek high of 10 cents, but could never break through, ending the week there for a rise a one cent, or 11.11%. The other Canadian stock on our radar, Nevada-focused precious metal explorer Rye Patch Gold Corp.
(TSX-Venture:RPM) drifted sideways to start the week hitting its intraweek high of 56 cents twice, but dropped lower midweek before closing at 49.5 cents for a loss of 5.5 cents, or 10%.
In the States, telecommunications company Digerati Technologies Inc.
(OTCBB:DTGI) exploded early in the week with a move of 178% to its intraweek high of $0.005 before giving back part of the gains to close at $0.0025 for a gain of $0.0007, or 38.89%. The other U.S. stock on our watchlist, holding company Fuse Sciences Inc. (Pink Sheets:DROP) started slow before kicking into gear late in the week to close at $0.1475 for a gain of 2.15 cents, or 17.06%, with an intraweek high of 15 cents.
If you`d invested in all four stocks and held them to the end, you`d have seen an average gain of a 14.27%. However, if you`d bought all four at the beginning of the week and sold each at its peak, you`d have realized very impressive gains of 52.44%, not bad for one week! Next week, we focus on Fairborne Energy Ltd. (TSX:FEL) and Mansfield Minerals Inc. (TSX-Venture:MDR). In the States, look for big things from DragonWave Inc. (NASDAQ:DRWI) and YM BioScience Inc. (AMEX:YMI).
Our latest spotlight, Intertainment Media Inc. (TSX-Venture:INT) (OTCQX:ITMTF) had a strong week, closing ahead by 19.35% at 18.5 cents with more than 13 million shares in volume and an intraweek high of 21.5 cents (representing a gain of nearly 40%). Technically speaking, the chart looks poised to continue a strong move off the bottom, so we encourage our members to keep a close tab on the emerging company.
The company was in the news several times this past week as Intertainment announced that Ortsbo, the world`s leading real-time experiential communications platform, will live stream the Thursday, October 18 final press conference for the world championship boxing quadruple-header extravaganza at the new Barclays Center in Brooklyn, N.Y., which takes place on Saturday, October 20, 2012. The event will feature four world championship fights, the first title bouts in the borough in more than 80 years, headlined by Unified Super Lightweight World Champion Danny “Swift” Garcia facing former Four-Division World Champion and future Hall of Famer Erik “El Terrible” Morales. Ensuring no one misses this momentous occasion, Ortsbo will be bringing the final press conference to fans all over the world in 66 languages. The live stream will be hosted by Barclays Center TV (BCTV) host Alyonka Larionov.
The company also announced that it has signed a Memorandum of Understanding with Stockhouse Publishing Ltd. to create Stockhouse.TV powered by Ortsbo. Under the terms of the MOU, Ortsbo (www.ortsbo.com) will produce a pilot program with Stockhouse entitled “Stockhouse.TV”.
The program will be powered by Ortsbo`s Live & Global™ platform and using Ortsbo`s video broadcast services and 66 language technology, the program will provide an online telecast experience for viewers in which company representatives, experts and investment industry professionals can update the online community regarding business developments and answer viewer-submitted questions live while users can instantly consume the programming in their native language. The first weekly show airing will take place on October 23, 2012 at 1:30 pm EST and users can register to ask their questions and participate in the broadcast at www.stockhouse.tv.
Additionally, SmallCapVoice.com, Inc. announced that a new audio interview with Intertainment`s CEO David Lucatch is now available. The interview can be heard at: (http://smallcapvoice.com/blog/10-11-12-smallcapvoice-interview-with-intertainment-media-inc-itmtf) We still also have Zecotek Photonics Inc. (TSX-Venture:ZMS) firmly on our radar for any news related to their lawsuit against Saint-Gobain and Phillips. We hold the belief that the lawsuit could award Zecotek hundreds of millions of dollars based on precedent set in a lawsuit when Siemens defeated Saint-Gobain in court. Shares nudged ahead another 1.41% this past week to 36 cents, but we feel this is only the start of the company achieving a much higher valuation, so we advise members to pay close attention to Zecotek.
….and that`s not all. We told you a few weeks ago that our due diligence team was digging deep and hard now once the summer ended to provide our members with a series of winners. We`re buttoning-up some research now and have another exciting company spotlight coming your way this week, so keep your eyes on your inbox because you won`t want to miss the one that is coming either.
————————- 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.
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