Today on Stockhouse
Your opinion matters. Submit an article to Stockhouse today at submissions@stockhouse.com. Submission guidelines can be found here.
Danny Deadlock offers an example of how not to run a junior mining company.
While Chris Vermeulen claims that gold and oil stocks are outperforming its underlying commodity.
Top Bullboards post:“I think, all things considered, that we're more apt to get an offer from a large mining company as opposed to seeing this stock "shoot to the moon" from the release of any drill results and the accompanying increase (or not) in share price. Bonanza grade results and this thing seems stuck with no wheels. Oh it's the market alright and no negative connotations about what we're all holding here. Where's the buyers?? They're in their plush offices watching the news unfold about their next acquisition,” says chux02on the Bravo Venture Group (TSX: V.BVG, Stock Forum) Bullboard.
Top Bullboard: Oilexco (TSX: T.OIL) received the most reads, followed by NovaGold Resources (TSX: T.NG).
Top blog:oilygasminerpresents his/her Gold Valuation Series #7 of 11
For news about small stocks that made big moves in Tuesday trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"We're getting more clarity about the federal assistance across the board, and I think that's being well received," said Arthur Hogan, chief market analyst at Jefferies & Co., in an interview with Associated Press. "Most of the overhangs in the market are getting answers."
| Selected expected U.S. earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Deere & Co. (NYSE: DE) |
Q4 |
$0.99 vs. $0.94 |
|
| Fred's Inc. (NASDAQ: FRED) |
Q3 |
$0.15 vs. $0.12 |
|
| Tiffany & Co. (NYSE: TIF) |
Q3 |
$0.25 vs. $0.27 |
|
| Selected expected Canadian earnings releases for Wednesday |
| (Consensus Estimates vs. Last Year) |
|
| Descartes Systems Group (TSX: T.DSG) |
Q3 |
US$0.06 vs. $0.06 |
|
After-Hours News
J. Crew (NYSE: JCG)
After Tuesday's close, the apparel retailer reported third-quarter net income that fell to $19 million, or 30 cents a share, from $26.8 million, or 42 cents a share, during the same period last year. Revenue rose to $363.1 million from $332.7 million. Analysts expected earnings of 27 cents a share on revenue of $350.7 million. J. Crew's same-store sales fell 3% for the period. The company, though, lowered its earnings outlook for fiscal 2008 to $1.11 to $1.16 a share, from its previous forecast of $1.44 to $1.54 a share because of the impact of a weaker economy on the retail sector. Wall Street was looking for $1.35 a share.
Innergex Renewable Energy (TSX: T.INE)
The developer, owner and operator of run-of-river hydroelectric facilities and wind energy projects, after Tuesday's closing bell, said it has closed the $53.4 million non-recourse project financing for its 38% interest in the Carleton wind farm, located in Quebec on November 14, 2008, and that it received the proceeds from its first draw today. The Carleton wind farm was built on-time and on budget, and commercial in-service occurred on November 22, 2008.
Today In The Markets
Stock markets relatively flat on mixed bag of news, U.S. government aid
|
| DJIA |
8,479.47 |
36.08 |
 |
|
| NASDAQ |
1,464.73 |
-7.29 |
 |
|
| S&P500 |
857.39 |
5.58 |
|
|
| S&P/TSX |
8,442.86 |
1.99 |
|
|
| S&P/TSX Venture |
719.96 |
-2.83 |
|
|
TORONTO, NEW YORK (CP) - A mixture of both positive and negative economic news left investors cautious on Tuesday as they weighed the latest U.S. government plan to aid consumer lending companies.
Toronto's S&P/TSX composite index rose 1.99 points to 8,442.86 as oil prices declined. The TSX Venture Exchange fell 2.83 to 719.96.
In New York, the Dow Jones industrial average rose 36.08 points to 8,479.47 despite a flood of U.S. economic data that appeared to confirm worsening conditions. The Nasdaq composite was down 7.29 at 1,465 and the S&P 500 moved 5.58 points higher to 857.
Please click here for the complete U.S. and Canadian market summaries.