AFTER PARKING MOST OF MY NEST EGG IN VERY CONSERVATIVE INVESTMENT ACCOUNTS THERE WASN'T MUCH TO WRITE ABOUT. TPCI IS BACK WITH SOME THOUGHTS AND IDEAS, OTHER THAN INVESTMENT IDEAS, TO SHARE WITH CANADIAN BOOMERS, RETIREES AND SNOWBIRDS.


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Friday, December 3, 2010

Good News - Bad News

GOOD NEWS
  • Great Canadian employment numbers.  Unemployment rate down to 7.6%
  • Oil over was over $88, now dipping on the bad news
  • Gold over $1,390, now rising on the bad news
  • Walter Energy (WLT) finalizes deal for all the shares of Western Coal (WTN)
BAD NEWS
  • Huge disappointment in US employment numbers just out seconds ago.  Unemployment rate up to 9.8%
  • Big earnings miss by RBC.  Estimate was 1.00 per share, actual .86
Of the above, the market mover will be the US employment figures.  Europe which had been in positive territory tuned down instantly on the news.

Me, I'm real happy with the Walter/Western Coal Deal.  It's been finalized at the previously reported $11.50 per share cash.  The new news is that the alternative to cash is .114 of a Walter share for each Western share.  Walter shares closed in New York yesterday at $105.60. This values the Western Coal shares at $12.03US. 
Posted by Stuart Gauld at 7:45 AM

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